Arkestro provides predictive procurement orchestration software that utilizes machine learning and behavioral science to optimize procurement cycles and automate decision-making. This technology enables businesses to achieve an average savings of 16% within the first 60 days while increasing the efficiency of their supply chain operations without the need for additional resources.
Funding
$28M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
+6Founders
Product
Problem
Procurement teams often struggle with outdated and inefficient processes that limit supplier engagement, resulting in missed savings opportunities and increased operational costs. Traditional methods lack the agility to adapt to market changes and fail to leverage the wealth of available data for optimal decision-making.
Solution
Arkestro provides a predictive procurement orchestration platform that leverages machine learning and behavioral science to optimize procurement cycles and automate decision-making. The platform analyzes buying patterns and market behaviors to provide direct actions that lead to optimal procurement decisions. By shortening cycle times and enabling more competitive events, Arkestro allows procurement teams to achieve significant savings and increase efficiency without additional resources. The platform integrates with existing systems to automate outcomes and extend the reach of procurement teams across all spend data.
Target Audience
Arkestro targets procurement teams within automotive, oil & gas, high-tech manufacturing, and food & beverage industries seeking to improve spend management and reduce costs.
Features
- Machine learning-driven analysis of buying patterns and market behaviors
- Behavioral science-backed optimization of procurement cycles
- Automated offer suggestions to shorten cycle times
- Integration with existing systems for automated execution
- Predictive analytics for proactive rerouting of shipments and securing alternative suppliers
- Support for multi-supplier, multi-round events with autonomous negotiation