Conduent partners with Fairmarkit to enhance procurement solutions

FLORHAM PARK, N.J. - Conduent Incorporated (NASDAQ:CNDT), currently valued at $441.8 million, announced Tuesday a strategic collaboration with Fairmarkit to enhance its procurement and spend management capabilities. The partnership will integrate Fairmarkit’s AI-powered sourcing platform with Conduent’s FastCap Finance Analytics solution. According to InvestingPro analysis, Conduent trades at a notably low P/E ratio of 1.76, suggesting potential undervaluation.

The collaboration aims to optimize procurement workflows by combining Conduent’s financial analytics with Fairmarkit’s AI technology. According to the company, FastCap has identified over $800 million in savings and recoveries since 2021, representing up to 10% of addressable spend. This initiative comes as Conduent faces revenue challenges, with InvestingPro data showing a 14.38% revenue decline in the last twelve months. The companies project that the combined solution could drive an additional 3-6% in savings through improved spend compliance, automated bidding and enhanced supply options.

"FastCap has resulted in significant savings for clients, while helping to drive contract compliance, risk reduction and financial visibility," said Mike McDaniel, Group President of Commercial Solutions at Conduent. InvestingPro analysis reveals that Conduent operates with a significant debt burden, with a debt-to-equity ratio of 1.04, making cost-saving initiatives particularly crucial for the company’s financial health.

The integrated solution will support procurement processes from sourcing strategic suppliers to managing RFP responses, while using AI-driven insights to refine purchasing decisions and optimize spend management. For deeper insights into Conduent’s financial position and growth prospects, investors can access comprehensive analysis and 13 additional ProTips through InvestingPro’s detailed research reports.

"Conduent’s deep expertise in procurement transformation, combined with Fairmarkit’s intelligent technology and experience working with the world’s leading procurement teams, creates a compelling solution," said Allison Yount, Vice President of Partnerships and Business Development at Fairmarkit.

Conduent delivers digital business solutions across commercial, government and transportation sectors with approximately 56,000 associates globally. Fairmarkit provides AI-powered autonomous sourcing solutions for enterprise procurement teams.

The announcement was made in a press release statement from the companies.

In other recent news, Conduent Inc. reported its Q1 2025 earnings, which showed revenue of $751 million, falling short of the $784 million forecast by analysts. The company’s earnings per share (EPS) met expectations at -$0.13. In a separate development, Conduent has expanded its Electronic Benefits Transfer (EBT) security features to 12 states, enhancing protection for Supplemental Nutrition Assistance Program (SNAP) recipients. This allows users to lock and unlock their accounts through the ConnectEBT mobile app and cardholder portal. Additionally, Conduent announced changes to its board of directors, appointing Harsha V. Agadi as the new chairman, effective August 6, 2025. Scott Letier, the current chairman, will transition to lead the company’s audit committee on the same date. These changes are part of Conduent’s periodic board refreshment process.

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