Summary

Arkestro

Better quotes faster using predictive procurement orchestration

Developer:Arkestro, Inc.

Overview

Arkestro Predictive Procurement AI for Infor LN

Used by teams at Chevron and Koch Industries, Arkestro helps your sourcing, procurement, and purchasing teams collect and compare quotes from suppliers using game theory and behavioral science powered by predictive pricing AI.

Quotes collected by manufacturing enterprises using Arkestro are on average 16% more competitive than quotes collected using manual software or email and spreadsheets. Procurement teams using Arkestro can run 3x the quoting cycles in less than half the time that a single quoting cycle normally takes. Teams using Arkestro are more effective and strategic and spend less time on back-and-forth to fix and clean data in supplier quotes. Better quotes. Fewer data entry errors. Faster cycles. Tangible business impact from AI.

Recognized by Gartner as a Cool Vendor and Spend Matters as Top Tech for Strategic Sourcing Teams. Customers using Arkestro have been recognized for excellence by the Sourcing Industry Group for procurement transformations, including GAF Logistics, and Arm Holdings. With no software to install, Arkestro’s user-friendly platform gets you up and running within hours, accelerating results and transforming procurement into a strategic advantage.

Features and Benefits

Drive more hard savings on quotes while reducing the number of steps

Using Arkestro's AI quote simulation and automated supplier feedback, your team can view a Suggested Offer benchmark for every itemID in any quote from any supplier -- this delivers hard savings regardless of the number of competitive quotes you collect.

Faster quote approvals on simple and complex market baskets

Using Arkestro AI Smart Baseline, you can instantly discover statistical attributes of past purchase prices (including PPV - Purchase Price Variance). By seeing pricing history from your historical spend, you can quickly approve new quotes faster.

Measure procurement's impact using data

Using Arkestro Insights, you can easily track the hard cost savings across all the spot buys, quick quotes, and sourcing events. Data cleansing, custom field-mapping, and Key Performance Indicators (KPIs) are built into Arkestro's procurement analytics

Implement autonomous game theory best practices for every quote you collect

Use proven game theoretic techniques such as the Prisoner's Dilemma, Fear of Missing Out, Reward Uncertainty, and the Anchoring Effect to drive faster cost savings without adding time or friction to the supplier's quote submission experience. Negotiate every quote where a savings opportunity exists and never leave money on the table.

Improve supply continuity and resiliency without expanding your supply base

Arkestro Supplier Recommendations will discover suppliers you already do business with for other items, services, or categories that can quote on upcoming procurement opportunities, including spot buys, quick quotes, and strategic sourcing events

Extremely fast time to value

Using Arkestro's seamless integrations and user-friendly web app, it is common for procurement and purchasing teams to collect their first quote using Arkestro within hours of 'Go Live' and for Arkestro to pay for itself and within the first 30 days. No installations or configurations -- Arkestro is an out-of-the-box solutions.