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Arkestro Named Value Leader in Spring 2022 Spend Matters SolutionMap

In June 2022, Spend Matters released the Spring SolutionMap procurement technology benchmarking rankings. This year’s cycle featured 69 leading vendors across ten different technology categories. Spend Matters’ analysts ranked Arkestro’s Predictive Procurement Orchestration platform as SolutionMap’s Value Leader in Sourcing for small, medium, and large enterprises.

The Spring 2022 SolutionMap ranking is the second time the platform has received this recognition in the industry-acclaimed technologies assessment. It was first named Value Leader in the Fall 2021 rankings.

Spend Matters has previously lauded Arkestro as being a “Provider to Watch,” a “Provider to Know,” and a “Future 5” solution.

 

Spring 2022 Spend Matters SolutionsMap – Background

Spend Matters’ SolutionMap is widely regarded as the most rigorous, data-focused functionality assessment of procurement solutions. It is the only assessment that tests more than 500 RFI requirements across ten different S2P module-and-suite technology categories.

Its unique testing process allows SpendMatters’ analysts to drill down each vendor’s actual platform capabilities. Real-time customer feedback also plays a major role in determining where solution providers rank on the maps.

Since SolutionMap was first launched five years ago, procurement professionals have consulted its rankings more than 270,000 times. Arkestro claiming the top spot in the Sourcing category for the second year in a row, beating out more established technology providers, is a testament to its advanced, customer-centric capabilities.

“Predictive sourcing has been a game-changer for enterprises leveraging our embedded platform that suppliers use without a login,” Edmund Zagorin, CEO and Founder of Arkestro, explained.

“By highlighting Arkestro as a Value Leader in this category, Spend Matters is validating the tremendous usefulness and ease of implementation Arkestro brings to enterprise supplier relationships. We’re excited about what the future holds.”

 

Spend Matters SolutionMap – Why It Matters

Spend Matters boasts some of the country’s top, well-respected procurement analysts. Based on their feedback in the recently concluded assessment exercise, here’s a list of things procurement practitioners said they wished they did before selecting technologies.

  •   Learned more about how the platform worked
  •   Not made baseless assumptions about how the software operated
  •   Ran more demos to get a clearer picture of the product’s capabilities
  •   Understood the gaps in functionality
  •   Conducted better due diligence before settling on a particular solution

SolutionMap is designed to help procurement professionals save time on long, drawn-out software RFP processes. It does this by relying on the team of analysts at Spend Matters to do the groundwork.

These experts independently assess the capabilities of procurement technology at a granular level before stress-testing them in live demos. Anyone exploring a procurement technology solution can view the top-ranking options in any of the ten featured categories.

 

Why Arkestro Was Named Value Leader

When we launched in 2017, we became the first company to use AI to automate the supplier negotiation process fully. Arkestro (formerly Bid Ops) was born out of Edmund Zagorin’s frustration with traditional procurement software and Excel spreadsheet templates. These were the only solutions for procurement practitioners at the time.

Today, we are the leading predictive procurement platform. Our goal is to amplify procurement’s influence. Our product delivers 2-5x cost savings from daily sourcing and purchasing cycles. It achieves this by leveraging machine learning, game theory, and behavioral science models to predict and win faster value across every category of spend.

Arkestro was built to amplify the impact of procurement’s impact and make better decisions, faster. Predictive Procurement Orchestration gives top enterprises the competitive edge in the wake of supply chain disruptions, which has been much-needed in 2022.

Book a free demo to learn why Spend Matters’ analysts ranked Arkestro the Predictive Procurement Orchestration platform as SolutionMap’s Value Leader. Read the full details on the Spring 2022 Spend Matters SolutionMap procurement technology benchmark rankings.

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Rob DeSantis

Founder

As a former co-founder of Ariba running sales, Rob has deep expertise in the procurement space, having helped propel Ariba from zero to $250 million in revenue in four years and IPO of the year in 1999 before its acquisition by SAP a decade later. In addition to co-founding Ariba, Rob was also an early angel investor and board member of LinkedIn, the world’s largest professional online network.

More recently, Rob served as an investor and advisor to a small portfolio of companies including Bloom Energy, AEye, Inc., HiQ Labs, Agiloft, USEND and more. He is also a co-founder of Dibbs Technology and TrueParity. Rob holds a BSME from the University of Rhode Island.

Marty Meyer

Chief Financial Officer

A trusted partner and advisor on the executive team, Marty has a unique background having been the CFO of nine venture backed technology companies. Marty has raised over $300M in venture funding and has closed six strategic M&A transactions with a combined value of over $1B. Marty has deep domain expertise in ecommerce, consumer internet, networking, data security, data privacy, media technology and enterprise software industries. Marty is especially experienced in the finance and operations activities of SaaS companies and is driven by data and metrics to help create outstanding customer experiences and drive efficient growth.

Neil Lustig

President and Chief Operating Officer

Neil is a seasoned executive with over 30 years of experience leading and building teams in Tech. Neil brings insights from a variety of market spaces and company sizes. Most recently Neil was the CEO of GAN Integrity, an innovative SaaS Compliance technology company serving enterprise customers in North America and Europe. Before that Neil was the CEO of Sailthru, a leader in ML driven personalized multi-channel marketing communications for media and e-commerce markets. Prior to that Neil was the CEO of Vendavo, the leader in B2B price optimization and management for large enterprises. Before Vendavo, Neil led the commercial team at Ariba, the market pioneer that defined and created the eProcurement space. Neil served as the GM of Ariba Europe and subsequently the GM of Ariba North America. Neil started his career at IBM where he spent sixteen years, initially as a software developer, and then twelve years in a variety of Sales and Marketing roles

 

Neil has a BS in Computer Science and Applied Mathematics from SUNY Albany. He is a native New Yorker, Brooklyn born, and still resides with his wife and three children in New York City.

Bonnie Adams

Director of People Operations

Bonnie is a People Operations and HR veteran, with over a decade of experience establishing successful people and culture functions for early to mid-stage tech startups going through high growth phases. She has a passion for supporting and creating inclusive and collaborative work environments and is well-versed in driving positive changes in her organizations as a trusted leader. Prior to joining Arkestro Bonnie worked as the People & Culture Coordinator for Ionic Security, helping them scale from 5 to over 200 employees in addition to a $120M funding round. Most recently she was the Head of People & Culture for blockchain innovator Storj Labs and was the Director of Human Resources at PrizePicks, the largest independently owned Daily Fantasy Sports platform in North America.

Arym Diamond

Chief Revenue Officer

Arym Diamond joined Arkestro in January 2022 bringing over 20 years of experience in the enterprise software and consultancy industry.  He is responsible for the worldwide go-to-market revenue strategy. Prior to Arkestro, Arym was Chief Revenue Officer at CalAmp focused on Telematics and Logistics. He also served as the area vice president of North American Sales within the Salesforce.com Enterprise Business unit for Einstein Analytics & AI, where analytics and machine learning were re-imagined for the front office.  Prior to that, he spent over 10 years at Oracle in various sales positions. Arym holds an MBA from the University of Southern California Marshall School of Business, and an undergraduate degree from California State University.

2022 Gartner® Hype Cycle™
for Procurement and Sourcing
includes Arkestro.

2022 Gartner® Hype Cycle™ for Procurement and Sourcing includes Arkestro.

Gartner® Hype Cycle™ are registered trademarks of Gartner, Inc. and/or its affiliates in the U.S. and internationally and is used herein with permission. All rights reserved.

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