Arkestro Lands $26 Million in Series A Funding

Arkestro Series A

Arkestro is the leading Predictive Procurement Orchestration platform, and now it’s about to undertake the next stage in its growth story. The company is pleased to announce that it has successfully landed Series A funding of $26 million.   This round of funding was led by NEA, Construct, Koch Disruptive Technologies (KDT) and Four More Capital, […]

Arkestro Named Value Leader in Spring 2022 Spend Matters SolutionMap

Spend Matters Value Leader

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 […]

Why Predictive Procurement in Health and Pharma is the Future

Predictive Procurement in Health and Pharma

Harvard Business Review has a number of articles that provide an excellent primer on the background of procurement in the health and pharma industries and the extraordinary challenges they have faced during the COVID-19 pandemic. The researchers who have authored these articles point to the need for procurement to play a leading role in addressing […]

How to Solve Supply Chain Disruptions — It’s Not What You Think

How to solve supply chain disruptions

As 2019 wound down, who would have predicted that how to solve supply chain disruptions would become one of the top headlines? Especially throughout the next three years? Not just in trade publications, either. Supply chain disruption has become something that all of us see in the headlines every day: online, in newspapers, and in […]

How to Use Predictive Procurement in Chemical Manufacturing

predictive procurement in chemical manufacturing

Predictive procurement is a must-have in chemical manufacturing. Why? Few industries are as massive and complex as the $5 trillion chemical manufacturing industry. Using a huge range of raw materials for production, companies in this industry supply chemicals to virtually every sector. Industries as diverse as food production, automobile manufacturing, and pharmaceuticals rely on chemicals. […]

Top 3 Reasons Predictive Procurement Orchestration is the Future of Procurement

Top 3 Reasons

Predictive Procurement Orchestration (PPO) is the future of procurement. Why do we say that? The goals of procurement in an organization used to be relatively simple. Ensure your company has a steady supply of what it needs to produce its end product on time and at the lowest possible price. With the advent of globalization, […]

How to Fix Tail Spend — A Rising Concern for CFOs

How to Fix Tail Spend

CFOs are increasingly hands-on when it comes to the strategic vision of their companies. Procurement and finance are teaming up more often to align on future goals and the threats that impact long-term profitability. Tail spend, a longtime procurement focal point, has become a rising concern to the rest of the C-suite, particularly the CFO. […]

Introducing the 2022 Opti Awards Winners

Opti Award winners

Optimal’22 — The Leadership Summit for Predictive Procurement— wrapped on March 24th. This event isn’t just an opportunity to network with the over 1,000 participants or to learn from incredible keynotes and workshops delivered by notable industry experts. Arkestro’s annual Optimal conference is also home to the Opti Awards ceremony, an event within an event […]

Bid Ops is now Arkestro

Bid Ops is now Arkestro

Bid Ops started as an e-sourcing company powered by AI. The AI simulated a sourcing event before it began in order to generate a target outcome. The key benefit of this autonomous “suggested price” approach to strategic sourcing is 2-5x savings impact in days, not months.  But over the past year, our customers have shown […]

How to Create High-Intent Purchasing in Procurement

how to create high intent purchasing in procurement

One of the under-appreciated challenges facing procurement today is low-intent purchasing. It’s not something that immediately sets off alarms because it’s not necessarily obvious, and it’s something that tends to build up over time. Low-intent purchasing is a factor that muddies the waters when trying to make the procurement process as efficient and cost-effective as […]