**Dubai**: Fairmarkit has signed a Memorandum of Understanding with Inception at the IDC Middle East CIO Summit 2025, aiming to enhance procurement efficiency in the MENA region through AI-powered solutions integrated into existing platforms like SAP and Oracle.
Fairmarkit, an autonomous sourcing solution provider, has signed a Memorandum of Understanding (MoU) with Inception, a subsidiary of G42 that focuses on AI-native products. This agreement was formalised at the IDC Middle East CIO Summit 2025 and aims to integrate Fairmarkit’s advanced AI-powered sourcing technology into Inception’s procurement ecosystem, dubbed (In)Business Procurement.
The collaboration seeks to enhance procurement efficiency across the Middle East and North Africa (MENA) region, providing businesses with a more streamlined and intelligent procurement framework. The integration will incorporate Fairmarkit’s proprietary technology into Inception’s existing AI-driven Contracts & Suppliers modules, allowing for compatibility with major procurement platforms such as SAP, Coupa, and Oracle.
Ashish Koshy, Chief Operating Officer of Inception, highlighted the significance of this partnership, stating, “This collaboration is a milestone in the evolution of enterprise procurement across MENA. By combining Fairmarkit’s groundbreaking sourcing solution with Inception’s own advanced AI capabilities, we’re not only enhancing procurement efficiency but also fundamentally reimagining how businesses source, contract, and manage suppliers.”
The partnership aims to digitise procurement operations and improve decision-making processes within enterprises. By leveraging autonomous sourcing and data intelligence, businesses are expected to experience new opportunities for cost savings and improved operational performance.
Kevin Frechette, CEO and Co-Founder of Fairmarkit, remarked on the broader implications of the MoU, stating, “This partnership marks a pivotal moment for the MENA region’s procurement landscape. Together with Inception, we’re introducing an AI-driven solution that will fundamentally disrupt traditional procurement processes.”
The collaboration signifies a notable shift in how businesses in the MENA region approach procurement, with both companies positioning themselves at the forefront of AI-driven innovation in the enterprise sector.
Source: Noah Wire Services
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