In today’s competitive IT procurement landscape, transparency has emerged as one of the most critical values for companies looking to optimize their purchasing processes. In this context, Markit stands out as a leading platform that champions transparency, simplifying the B2B IT channel for businesses worldwide. With over 10,000 companies—including more than 400 from the Forbes 2000 list—relying on Markit daily, it has become a trusted partner in reducing the total acquisition cost for IT products.
But how does Markit achieve this? The company leverages its platform’s powerful features to streamline purchasing processes, offer significant cost savings, and provide a fully transparent buying experience.
Reducing the Total Cost of Purchasing
Markit’s key selling point is its ability to help companies reduce the total cost of IT purchasing. It achieves this by consolidating suppliers and offering a product portfolio of over 1 million items through real-time integration with major wholesalers. This eliminates the need for multiple suppliers, streamlining vendor management and centralizing the purchasing process into one efficient platform.
The platform ensures that companies only deal with one supplier, offering full control and visibility over all IT-related purchases. This results in substantial savings—not just in terms of product costs, but also in terms of time and administrative burden.
Complete Transparency in Pricing
In the B2B IT channel, transparency is often an elusive goal. Markit, however, has made transparency its core value. The platform guarantees that every pricing detail is fully transparent. This gives clients confidence in knowing that the pricing they receive reflects the best available market rates.
Unlike traditional vendors that might obscure pricing through complex discount structures or hidden fees, Markit’s transparent pricing ensures that companies can make informed decisions at every step. This transparency extends to real-time price comparisons across multiple wholesalers, creating a competitive marketplace that drives prices down further.
Streamlining and Automating the Purchasing Process
Markit’s platform is designed to simplify and automate the purchasing process, reducing the complexity that often comes with IT procurement. The platform is fully customizable to meet the unique needs of each client, allowing for advanced search capabilities, approval workflows, budget management, hardware standardization, and more.
Additionally, Markit integrates seamlessly with existing ERP systems and procurement platforms through punchout integrations, helping companies streamline their purchasing activities without overhauling their current processes.
Maximizing Price Savings with Advanced Algorithms
Markit isn’t just a marketplace; it actively helps clients leverage competition between wholesalers and brands to optimize their purchasing baskets. Using advanced algorithms, the platform ensures that every purchase is optimized for the lowest possible cost. On average, clients enjoy savings of up to 10%, thanks to this dynamic optimization.
By acting as a neutral platform that pits multiple suppliers against each other, Markit ensures that companies are always getting the most competitive prices without having to negotiate separately with each vendor.
Real-Time Availability and Lead Time Reduction
One of the standout features of Markit’s platform is its ability to provide real-time availability and lead-time data from all major wholesalers. This means companies can plan their IT purchases more effectively, knowing exactly when products will be available and delivered. With a delivery accuracy of 90%, Markit ensures that companies can reduce lead times, minimizing disruptions in their supply chains.
Comprehensive Reporting and Budget Control
Transparency extends beyond pricing. Markit also provides clients with detailed reporting tools that allow them to track spending, monitor the most purchased products, and analyze categories. This level of visibility ensures that companies not only save on product costs but also gain insights into their overall procurement strategy.
Markit’s reporting tools also allow companies to measure time saved during the purchasing process, track user satisfaction, and gain full control over their budgets. This level of control ensures that IT departments can make more strategic decisions, optimize their purchasing processes, and focus on higher-level tasks.
Global Reach with Local Delivery and Invoicing
Markit operates in over 40 countries, offering global centralization with local handling. This means that companies can centralize their IT procurement across different countries while benefiting from local deliveries and invoicing. The platform allows businesses to manage global procurement with ease, giving them the flexibility to operate efficiently across borders.
A Single Access Point to the Global IT Distribution Channel
At its core, Markit is about simplicity. With one platform, one supplier, and one access point, companies can manage their entire IT purchasing process from a single interface. This integration of the global IT distribution channel through Markit ensures that companies have the visibility, control, and savings they need to succeed in today’s competitive market.
Advice from Marco Evolini, USA Country Manager
As Markit’s USA Country Manager, Marco Evolini offers valuable advice for IT managers, buyers, and CIOs. When selecting a supplier who resells third-party products, companies often focus on discounts or fixed prices. However, Evolini stresses that these alone do not guarantee savings. Instead, he advises companies to focus on transparency—the key to unlocking true value in IT procurement.
Conclusion: Transparency as a Competitive Advantage
In an industry where opacity often reigns, Markit has positioned itself as a beacon of transparency. By offering real-time pricing, optimizing purchases through advanced algorithms, and providing comprehensive reporting, Markit delivers significant value to companies worldwide. Whether it’s cost savings, process automation, or global procurement, Markit is setting new standards for transparency in the B2B IT channel.
