How Predictive Procurement Orchestration Helps Unlock Savings in 60 Days

What if you could implement a procurement platform that was so easy to use, your team could be up and running after just one hour of training? What if, by applying predictive procurement orchestration, you could completely shift procurement’s role in your organization from one of necessary spend to one of strategic cost savings?

More and more, procurement professionals everywhere are seeing the value of using a platform like Arkestro for sourcing and spot purchase events, making their procurement processes more competitive, and driving cost savings.

Predictive Procurement Orchestration can:

• Eliminate data gaps
• Reduce unnecessary spend
• Improve decision making
• Increase transparency and visibility into procurement activities
• Leverage machine learning (ML) and game theory to unlock productivity

To put Arkestro to the test, our team worked with several customers to see just how effective Predictive Procurement Orchestration (PPO) could be in real-time, all across the globe. Let’s dive into several examples of how customers are having success and making their procurement processes more competitive in just 60 days.

Arkestro’s Personal Touch Across the Globe

When a large organization with a complex supply chain came to Arkestro to implement our PPO platform, our professional services team traveled to three of their global locations to make sure PPO could be their strategic superpower this year. Our team traveled to Asia to train 25 of the organization’s employees (including buyers and sourcing managers) on how PPO can be applied in their specific circumstances. The results were immediate.

Increasing Competitive Bids
On the ground in China, in a new warehouse bigger than three football fields, Arkestro is being applied by the organization to succeed in two key outcomes: controlling costs to save money and creating more competitive bids.

Leadership Buy-in on Strategic Value
With the team in Singapore, the company’s head of global supply chain attended both of our two-day training sessions because they wanted to learn about Arkestro after seeing the immense value it could provide.

Supplier and Buyer Engagement
In India, our team worked to train over 15 buyers. The buyers were extremely engaged before, during, and after launching events in the Arkestro platform, and were in constant contact with their suppliers to see how Arkestro’s game theory, data science, and ML worked in real time.

Arkestro is dedicated to training and onboarding procurement teams on the ground, no matter where they are across the globe. With PPO in their procurement toolbelt and a high level of professional services to help them onboard, our customers are empowered to achieve:

• Cost savings of 16% within the first 60 days
• Run 3X as many events using the PPO platform
• Reach more addressable spend

Accelerate Savings with Arkestro

For another large global company, Arkestro’s team traveled to their Eastern European Center of Excellence to train a group of 25 users serving three global locations. Our team was able to unlock massive savings on a large volume of buys of smaller value items that are typically completed off contract. 

Before implementing Arkestro, the team was using a variety of manual processes resulting in frequent data errors. After just three weeks of using the PPO platform, the entire buyer group came away highly impressed with the results including:

• Shorter cycle times across all locations
• Ramped up volume of buys
• A drastic increase in total savings 

However, these weren’t the only successes the company experienced: 

Buying Staff Up and Running in 1 Day
Arkestro’s PPO platform is so intuitive it only took one hour of training for a buyer to launch four events on their first day. With no integration required, PPO has the potential to transform any organization’s processes to improve efficiency.

Game Theory Discounts
Another consistent proofpoint of the effectiveness of PPO’s value for companies? Our suggested pricing capabilities. In another instance, the company was able to use our Intelligent Counter Offer (ICO) feature to apply game theory to get discounts far higher than anticipated. In a second round of bidding, through the power of ICO and supplier feedback, the customer was able to obtain a savings of 15.6%.  

In summary, Arkestro customers are achieving outstanding results by applying the technologies and methodologies of our platform to their procurement organizations. Not only has our team traveled across the globe to train, implement, and demonstrate the impact of PPO, but we also offer round-the-clock supplier enablement and support across seven different time zones. 

With a platform like Predictive Procurement Orchestration and a team like Arkestro’s behind your procurement organization, the results speak for themselves.

Adopt Predictive Procurement Orchestration to See Results 

Whether your goal is to minimize supply chain disruptions from unanticipated events, reduce spend, or improve your decision-making with better data, predictive procurement orchestration has something to offer.

• Because the platform is embedded with your ERP or P2P system and processes, adopting PPO minimizes disruptions, ensures high adoption rates, and acts like another team member in the background.
• By using ML and game theory to organize large quantities of data, PPO can take advantage of your data, even if it’s not the cleanest! And it learns as you go.
• Lastly, when decisions need to be made, PPO can help your team apply all the data at hand to see the real picture and make the best choice possible, by predicting the optimal outcome.

Arkestro customers are starting to see results in their first 60 days – from being able to quickly receive more competitive offers from their suppliers to tackling more areas of spend. While it might take longer to get through a contract negotiation and lock down the T&Cs, our clients are starting out ahead of the game with predictive pricing that allows them to directly contribute to the bottom line.  

If you’d like to learn more about Arkestro’s PPO capabilities, chat with an expert today.