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How Does Arkestro Compare to Scout RFP (Workday Sourcing)?

Many procurement organizations are undertaking projects to modernize their operations. That’s understandable. Several things have proven to be a potent combination:

  •     The never-ending mandate to cut costs with a fast time-to-value
  •     A pandemic that saw procurement thrust into the spotlight as global supply chains were fractured
  •     The move by sourcing professionals to embrace a more strategic role 
  •     Advances in technology, including cloud-based AI 

Procurement is moving forward and transitioning to advanced software that can support these requirements.

Two names that are often part of the discussion on advanced procurement software solutions are Arkestro and Scout RFP. At a high level, it might sound as though these are similar systems. Both offer capabilities like support for strategically sourcing suppliers, automation of labor-intensive tasks, and advanced analytics. 

Which of the two is the better choice? Let’s have a closer look at the details for Scout RFP to see how it compares to Arkestro.

 

Scout RFP vs Arkestro – Scout RFP’s Strengths 

 According to the Scout RFP website, these are the capabilities that set this procurement software apart from competing solutions. 

  •   Tools for sourcing and supplier engagement support the ability to collaboratively run sourcing events, streamline supplier selection and contracts, and analyze performance to drive better outcomes
  •   Automation frees up time, with labor-intensive tasks including expenses and supplier invoices automated so procurement staff can focus on more meaningful work
  •   Insights to better manage spend, with real-time contextual insight of spend analysis 
  •   Flexibility to purchase how you like because Scout RFP offers a flexible business process framework
  •   Strategically source suppliers by identifying those who provide the best product and service at the best value
  •   Intuitively manage spend by automating the procure-to-pay process and controlling indirect spend  
  •   Optimize internal supply chain, allowing teams to stock, track, and replenish internal goods and supplies
  •   Make expense reporting easy through expense submission, approval, and analysis

In addition, Scout RFP owner Workday points out that it offers a “complete set of cloud spend management solutions” for streaming operations and controlling indirect spend.   

 

How Does That Compare to Arkestro?

Rather than getting into a feature-by-feature comparison with Arkestro, it’s probably more useful to instead look at overall themes. When you review Scout RFP’s key selling points, there is a definite theme. And when you look at Arkestro design and features, there’s a very different theme. The difference between the two shows that these solutions are not really direct competitors, and each has situations where they would be the clear best choice. 

Let’s start with Scout RFP. This is a system that is focused on the indirect use case and the core function is supplier selection, scorecarding, and contract repository. Scout RFP is also more applicable to large companies awarding large sourcing projects that are awarded to a single supplier with complex, text-based supplier questions —think tens or even hundreds of form fields. As well, Scout RFP is designed to integrate with contracting and legal aspects of procurement. 

Arkestro takes a very different approach. Rather than focusing primarily on indirect transactions, Arkestro is designed to unify all different transaction types (including indirect) on a single procurement platform that is built to align everyday purchasing activities with sourcing and contracted price agreements, as well as simulations of optimal pricing from preferred suppliers. 

Arkestro is a predictive procurement platform that supports a broad spectrum of transaction values wherever they live: in a Procure-to-Pay system, in a sourcing system, or in a purchasing or catalogue system. Arkestro also can handle a complex transaction involving hundreds of millions of line items in different currencies with suppliers spread across multiple countries just as easily as a simple purchase request for a single item from a single supplier. It brings finance and operations together, enabling collaboration and alignment on key numbers. 

Arkestro leverages a unique simulation-driven process to unify predictive sourcing and procurement. This includes strong forecasting capabilities, rapid negotiations based on predictive pricing, plus proactive alerting for exceptions. 

 

Arkestro vs Scout RFP – The Bottom Line

Scout RFP was one of the first user-centric platforms to focus on indirect sourcing. It’s since branched out with modules covering supplier management and contract management. In 2019, it was bought by Workday, a large HRIS ERP company.  

Arkestro’ product came out later but was designed from the ground up to take full advantage of cloud-based predictive models, giving Arkestro advanced capabilities like predictive sourcing, predictive purchasing, and predictive KPIs and KPI reports. In addition, because Arkestro is focused purely on procurement — and not part of a larger ecosystem in which procurement is just one element of its business — features are more carefully honed to meet the broad needs of sourcing, procurement, and purchasing professionals.

To be clear, Scout RFP has its strengths, especially for organizations that emphasize the role of contracting within the supplier lifecycle. In particular, organizations dealing with suppliers who are primarily IT service providers or software companies may find Scout RFP is their preferred choice. 

For many scenarios, procurement organizations that have a diverse or complex category portfolio that includes both direct and indirect will discover efficiencies by adopting Arkestro. This is especially true for organizations that experience chronic data quality issues that require data cleansing, data validation and forward-looking models to accurately forecast quarterly spend, savings and variance. 

 

Experience the Arkestro Advantage With a Demo 

After this overview of the similarities and differences between Arkestro and Scout RFP, you should have a pretty good idea of which procurement software is the better choice for your organization. We like to think that for most companies, Arkestro would be the preferred pick. That’s especially true if your organization values advanced features like predictive sourcing, the ability to unify indirect and direct categories, bringing finance and operations together, and being applicable for any size of transaction.  

However, we encourage you to take the next step and try out Arkestro yourself. Book a free demo where you will have the opportunity to see first-hand how Arkestro and its AI-powered predictive procurement will modernize your organization and drive faster savings.

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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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