Our Arkestro Story
Enable strategic sourcing teams to deliver value from abundant possibilities.
Proactively respond to feedback, data and evolving opportunity structures.
Empathetically working with purpose-driven teams.
Influence human operations and processes at the largest possible scale.
Our Arkestro Story
If I can order a pizza on my iPhone for six people with three toppings on all, two toppings on half, a side of breadsticks and three custom dipping sauces on the side in under a minute, then why does a project with the nearly same level of sourcing complexity take a room of five people more than a week in the context of procurement? Why can’t this process be managed through a user-friendly “one click” app?
Edmund and Ben were friends growing up in DC. One evening in San Francisco’s Potrero Hill neighborhood, Edmund was describing what the typical user experience was like on a legacy strategic software application. Ben, who had risen from the role of software engineer to lead an enterprise product at SurveyMonkey — a company known for its consumer surveys, suddenly had a lightbulb go off in his head. What if there were a way to automatically pre-populate the text in a sourcing project with little to no manual data entry required from procurement users or even from — gasp — the suppliers? What if a simple technique — known as “smart defaults” — held the answer to a powerful workflow automation that would enable strategic sourcing and tactical buying cycles? What if it could run in 90% less time, delivering an average of 2-5x in savings impact along with improved quality, lead time or overall supplier performance?
That night, Arkestro was born. Using Edmund’s deep procurement domain expertise and Ben’s experience building user-friendly software products, they began creating an app layered with pre-built intelligent recommendations. After beginning to design the data model with Aziel Ferguson and Sam Griffiths, it became clear that the best way to generate and scale these intelligent recommendations was an AI engine leveraging leading edge machine learning models.
Created by procurement professionals for procurement professionals, Arkestro remains relentlessly focused on delivering a delightful user experience, actionable insights and powering processes that result in better quotes faster for any sourcing project. Our app can help any business answer any question related to a supplier’s commercial terms — including pricing, compliance, service levels, payment terms and engagement in bidding events. Built for direct spend, CapEx, MRO, Logistics and Indirect Spend requirements for any modern procurement team, Arkestro can handle over 30,000 line items per single project, over 10,000 suppliers per project and can automate a “cherrypick optimization” to award the best line item to the right supplier at the most competitive price, given any number of conditional requirements (quality, lead time, Minimum Order Quantity, service levels, payment terms) for every single dollar spent.
Freed from the burden of manual data entry and long email chains, procurement teams using Arkestro are able to become strategic partners and trusted advisors to their business teams, delivering a delightful service experience and tangible business impact. Modern procurement teams are able to recruit high performers, launch award-winning supplier diversity programs, supplement ESG reporting for 10K stock disclosures to boost their company’s share price and offer a collaborative workplace where decisions are made using data rather than opinions.