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VC-A; NEA, Construct, Koch, Four More Capital

It was this focus on creating dramatic cost impact in under 90 days aligned with improved data quality and seamless no-login orchestration that got the attention of Gartner, Spend Matters and then Rob Desantis, an original co-founder of Ariba (now SAP Ariba). Rob saw in Arkestro an incredible synergy with the Procure-to-Pay platforms such as Ariba, Coupa, Zycus, Jaggaer and GEP with a dedicated focus on using real-time recommendations and predictive pricing to enable faster procurement cycles and thereby amplify the impact of procurement’s influence. After interviewing all Arkestro’s customers and employees, Rob decided to join as a co-founder and brought onboard the original Ariba Go To Market team. Rob, Ben and Edmund are now scaling Arkestro globally with a focus on enterprise procurement teams, and a world-class product and engineering organization focused on leveraging the power of real-time recommendations to drive exciting business outcomes.

Assembly Line

Westfall Technik and Arkestro lead Predictive Procurement

Arkestro brings AI to ERP

📅 Date:

✍️ Author: Peter Wayner

🔖 Topics: Enterprise Resource Planning

🏢 Organizations: Arkestro

Arkestro is bringing a mixture of modern artificial intelligence algorithms to the world of ERP. It wants to use a combination of machine learning, game theory and behavioral science to make the supply chain more efficient and better able to withstand failures.

A large part of Arkestro’s solution focuses on allowing algorithms to help people with pricing and price discovery, a challenge that is also only growing more complex now that inflation is putting more pressure on the enterprise to charge the right amount. When prices are stable, suppliers can work together for years without renegotiating prices. But the specter of currency erosion makes it crucial for companies to find the appropriate price. Arkestro offers a predictive pricing model that tracks the relationship between both sides of the transaction while also folding in data from others in similar marketplaces. It also tracks anomalies and disruptions that can send pricing shocks.

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