How Arkestro is Shaping the Future of Sourcing
Arkestro's Predictive Procurement Orchestration (PPO) platform has earned two prestigious awards at the 2024 Future of Sourcing Awards by the Sourcing Industry Group (SIG) in the categories of Innovations in Sourcing and Innovations in Governance and Compliance.
These honours recognise the organisations and teams who are shaping the future of sourcing, setting new standards and benchmarks for the global community and driving the industry forward.
Through a partnership with North America’s leading roofing manufacturer, GAF, Arkestro's Innovations in Sourcing award demonstrates the benefits of predictive procurement for managing nationwide logistics including optimisation of shipping routes, cost reductions and timely deliveries across various regions.
Pride in seeing customers win
Arkestro, which is trusted by leading companies such as BASF and Dover, harnesses its ability to leverage predictive analytics to enhance procurement.
It offers something unique with its ability to pre-embed outcomes in any system or process, which helps businesses anticipate market changes and make proactive decisions.
Predictive analytics for procurement is already a vital tool. Alongside supplier performance insights, Arkestro ensures organisations can achieve optimal procurement outcomes by staying ahead of market trends.
"Our team at Arkestro takes immense pride in seeing our customers win," says Edmund Zagorin, Co-Founder and Chief Strategy Officer at Arkestro.
"That's why we were so thrilled to see GAF take home the Innovations in Sourcing Award, in recognition of our transformative work implementing AI-powered predictive procurement for logistics, which anyone can tell you is an extremely complex supply category to source.
"Equally exciting was to see Arm Holdings take home the Future of Sourcing Award for Governance and Compliance, for implementing predictive procurement to not only deliver dramatic hard cost savings on their IT spend but also deliver improvements in working capital.
"Five years ago I was present at the first Future of Sourcing Awards, and it has long been a dream of mine to see an Arkestro customer take home one of these wins.
“We saw that dream brought to life twice - and I think that puts a big smile on the face of every Arkestrian.
“These sourcing awards validate that we are helping procurement teams deliver on the massive opportunity of AI in simplifying and accelerating complex supplier quoting cycles, even in the hardest-to-reach categories.
“The bottom-line results of these Arkestro customers clearly speak for themselves."
Staying compliant
With governing bodies continue to enact new regulations and legislation for supply chains, global companies must ensure their technological solutions for sourcing are compliant.
Arkestro’s approach to procurement, with the use of AI and behavioural science science to help optimise and automate procurement cycles, provided Arm, the company building the future of computing, with strong results while staying compliant.
This resulted in Arkestro's innovation in governance and compliance recognition, where Arm was able to achieve supplier compliance with service level agreements and pricing in IT spend.
"Arkestro has been a strategic and innovative partner for Arm," adds Sean Park, Vice President of Procurement and Transformation at Arm.
"The level of dedication to our success has allowed us to drive significant impact at a high velocity, enabling us to better contain and manage spend while ensuring procurement processes are compliant and scaling efficiently."
Make sure you check out the latest edition of Procurement Magazine and also sign up to our global conference series - Procurement & Supply Chain 2025
Procurement Magazine is a BizClik brand