Arkestro specializes in Predictive Procurement Orchestration (PPO), a technology that uses artificial intelligence (AI) to improve procurement processes for businesses. The platform helps companies quickly collect and compare quotes from various suppliers, making it easier to make informed buying decisions. Arkestro primarily targets large global companies that need to enhance the efficiency and resilience of their supply chains, especially during disruptions. 

The service operates on a software-as-a-service (SaaS) model, where clients subscribe to access the platform that integrates with their existing systems. This automation allows procurement teams to focus on strategic tasks instead of manual data collection. Arkestro generates revenue through subscription fees, providing clients with AI-powered tools that lead to cost savings and improved efficiency. The goal of Arkestro is to streamline procurement processes, enabling businesses to make smarter and faster purchasing decisions.

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The leader in Predictive Procurement Orchestration (PPO) partners with Infor Marketplace to redefine procurement's role in business growth. SAN FRANCISCO, Dec. 3, 2024 /PRNewswire/ -- Arkestro is excited to announce its partnership with the Infor Marketplace, a powerful collaboration designed to enable AI-driven procurement, sourcing, purchasing, and supply chain management transformation for enterprise manufacturing teams worldwide. By combining Arkestro's Predictive Procurement Orchestration (PPO) with Infor's ERP capabilities, this partnership empowers over 60,000 organizations to collect faster quotes from preferred suppliers without leaving money on the table. Arkestro's unique approach enables procurement teams to deliver competitive quote outcomes without adding cycle time. Arkestro uses machine learning and behavioral science to change how quotes are collected, analyzed, compared, and benchmarked, eliminating the need for manual processes and spreadsheets typically used in the procurement industry

Arkestro Joins The Infor Marketplace To Amplify Procurement'S Influence With Its Infor Ln Integration

This content does not express the views or opinions of Spend Matters.“Never waste a good crisis” is a phrase worth pondering in the realm of digital transformation for supply chains. Historically, major companies neglected supply chain transformation and digital investments until global disruptions, such as the Covid pandemic, forced a change. Previously, efficient performance satisfied stakeholders, with suppliers delivering on time and in full.However, recent crises — from the pandemic to geopolitical upheavals like the Suez Canal blockage and the Ukraine conflict — have exposed the fragility of supply chains built on Just In Time (JIT) principles. These disruptions have highlighted the need for resiliency over sheer efficiency.Amid these challenges, there lies an opportunity: supply chain crises can catalyze buy-in and funding for much-needed transformation initiatives. This article explores critical frameworks that procurement and supply chain teams use to implement transformational projects, ensuring long-term benefits beyond immediate crises.I’ll explore these topics further at our upcoming LinkedIn Live event on Thursday, Aug. 22, at 10:00 AM PST.Why digital procurement transformation stalls: Overcoming key bad practicesIt’s worth asking why it often takes a crisis to implement transformational change in supply chain and procurement

Leveraging Supply Chain Disruptions To Accelerate Digital Transformation

This content does not express the views or opinions of Spend Matters.Over 50% of organizations have automated their procurement processes, with around 35% using AI in procurement — an impressive increase from 29% in 2020. This evolution enables procurement teams to make superior decisions, initiate more events and cover broader ground without additional resources. Despite these advancements, some professionals remain skeptical about Predictive Procurement Orchestration (PPO). Concerns about the learning curve, cost and time investment persist. This article addresses five common misconceptions about PPO and explains its potential as a revolutionary tool for procurement teams.Myth 1: AI will replace procurement professionalsA prevalent fear is that AI will eliminate jobs in the procurement industry. While AI can automate repetitive tasks, such as data entry and analysis, it cannot substitute the human touch necessary for negotiating with suppliers or establishing enduring relationships

Debunking 5 Common Myths About Predictive Procurement Orchestration

Procurement is entering an exciting new era of embedded intelligence. Technologies such as generative artificial intelligence (AI) and machine learning make possible what was only dreamt of in years past — intelligent automation,  predictive procurement and exponential data processing. As generative AI and other disruptive technologies continue to accelerate in 2024, embracing digital transformation in the procurement space will be imperative for success. Indeed, most procurement leaders are already planning to invest in these technologies. An Amazon survey found 53% of procurement teams expect their budgets to increase in the coming year, with a whopping 98% planning to invest in automation, AI, and analytics and insights tools.But just how much do procurement organizations stand to gain by investing in automation tools? To find out, we conducted a field trial across three different organizations with our predictive procurement tool to analyze how impactful intelligent procurement can be, and how much savings were possible.How predictive orchestration has the potential to transform procurementFirst, let’s dive into the current landscape of procurement, and what’s changed in the past year.It’s no secret that 2023 was a tough year for procurement. Inflation, a complex and constrained supply chain, and threats of recession all impacted how procurement processes played out externally

How You Can Transform Procurement Into A Strategic Superpower In 2024

Arkestro has filed a notice of an exempt offering of securities to raise $40,298,354.00 in Equity Investment. Arkestro has filed a notice of an exempt offering of securities to raise $40,298,354.00 in Equity Investment.According to filings with the U.S. Securities and Exchange Commission, Arkestro is raising $40,298,354.00 in new funding. Sources indicate that as part of senior management Chief Executive Officer, Edmund Zagorin played a key role in securing the recent investment and it will aid in aggressively expanding the company, as well as broaden and accelerate product development.About ArkestroThe idea for Arkestro arose out of a basic frustration with the amount of time and effort it takes most teams to collect and compare quotes from suppliers. Our founder Edmund was working as a procurement consultant and saw how much time his sourcing teams spent building Excel pivot tables. Regardless of the software, the problem was the same: a category expert was needed to identify potential errors in supplier submissions before an award scenario could be properly evaluated

Arkestro Has Filed A Notice Of An Exempt Offering Of Securities To Raise $40,298,354.00 In Equity Investment.

International Consulting Firm and Arkestro Formalize Relationship to Help Customers Realize the Benefits of Predictive Procurement OrchestrationNEW YORK and SAN FRANCISCO, Jan. 26, 2023 /PRNewswire/ -- Acquis Consulting Group (Acquis) today announced it has signed an implementation partnership with Arkestro , the leading Predictive Procurement Orchestration platform. This news comes as Acquis celebrates 25 years of advising and building businesses and serving customers across a variety of practice areas, including procurement strategy."As an official Arkestro implementation partner, we believe our close collaboration with Arkestro and their deep expertise in Predictive Procurement Orchestration will help our customers transform their procurement operations into a key competitive differentiator," says David Kaufman, CEO and Managing Partner of Acquis. "As sponsors of Arkestro's recent Optimal '22 Conference in Las Vegas , we witnessed firsthand the palpable enthusiasm and excitement among Arkestro users for the power of Predictive Procurement Orchestration."From strategy to technology, Acquis specializes in providing tailored solutions that meet its customers' needs based on their unique procurement and spend management requirements. Their seasoned team of experts has extensive experience across a wide range of industries and brings clients on a journey toward procurement excellence through spend management, technology optimization, and intelligent operations to fully enable the procurement organization. Acquis investigates and analyzes its clients' third-party spend to give them insight into their spending habits and trends, and to uncover opportunities for consolidation, reduction and optimization

On Its 25Th Anniversary, Acquis Consulting Group Signs On As Arkestro Implementation Partner

We are living in challenging times where companies are facing unprecedented challenges on multiple fronts. Supply shortages existing alongside inventory gluts and steep interest-rate hikes in response to economic inflation now threaten to push the global economy into a recession. The Collins Dictionary “Word of the Year” for 2022 is “permacrisis,” reflecting the volatility and unease created by multiple conflicting drivers of insecurity and instability. And, as often happens in tough times, unique challenges create unique opportunities for procurement teams to win. However, the age-old conflict between Finance and Operations remains prevalent within discussions around procurement’s digital path forward. Should the case for Procurement Transformation be made using cost-savings, business continuity or both? Or is there an entirely different approach that focuses on faster cycles for holistically preferred outcomes? What would a digital roadmap look like if it focused on investing in agility and adaptation?

Championing Procurement Transformation In The C-Suite: How Predictive Procurement Orchestration Accelerates Executive Alignment Around Your Digital Roadmap

San Francisco, CA – According to filings with the U.S. Securities and Exchange Commission, Arkestro is raising $34,944,874.00 in new funding. Sources indicate as part of senior management Chief Executive Officer, Edmund Zagorin played a key role in securing the recent investment and it will aid in aggressively expanding the company, as well as broaden and accelerate product development. About Arkestro

San Francisco California Based Arkestro Is Raising $34,944,874.00 In New Equity Investment.

Pixabay. Most organizations believe that their procurement system centers on people, processes and technology. What’s missing in this picture? Data. The data that flows through technology and processes is then interpreted by people to make decisions in a distinct domain. Data is often an integral part of the organization that’s overlooked. Despite our best efforts to invest in systems and tools designed to capture, clean and consume data, untrustworthy data still routinely costs organizations tens of millions of dollars of value in unrecognized opportunities. As the famous "Michael Scott" quote goes: “You miss 100% of the shots you don’t take” (Wayne Gretzky), and there are few problems that cause more untaken shots by procurement teams than untrustworthy data. When a procurement team does not trust the data, it doesn’t just lead to missed opportunities, it also creates bottlenecks and miscommunications that can damage customer and supplier relationships. The simple fact is that when procurement teams don’t have confidence in their data — whether that data originates from suppliers or stakeholders — it becomes much harder to make value-creating decisions efficiently and accurately

How To Predict And Win Trustworthy Procurement Data Using Predictive Procurement Orchestration

Koch Disruptive Technologies is co-leading a $26 million Series A funding round in Arkestro.

Koch Disruptive Technologies​ invests into Arkestro in $26M

AI-driven procurement optimization platform

Arkestro

AI-driven procurement optimization platform

Arkestro

AI-driven procurement optimization platform

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