Arkestro Earns Two Prestigious 2024 Future of Sourcing Awards
Saturday, October 19, 2024
The leading predictive procurement company receives accolades in "Innovations in Sourcing" and "Innovations in Governance and Compliance" for its commitment to logistics innovation, leadership and digital transformation
SAN FRANCISCO, Oct. 11, 2024 /PRNewswire/ -- Arkestro's Predictive Procurement Orchestration (PPO) platform has earned two prestigious awards at the 2024 Future of Sourcing Awards by the Sourcing Industry Group (SIG) in the categories of Innovations in Sourcing and Innovations in Governance and Compliance. These honors recognize the organizations and teams who are shaping the future of sourcing, setting new standards and benchmarks for the global community and driving the industry forward.
"These sourcing awards validate that we are helping procurement teams deliver on the massive opportunity of AI in simplifying and accelerating complex supplier quoting cycles, even in the hardest-to-reach categories. And the bottom line results of these Arkestro customers clearly speak for themselves." In partnership with North America's leading roofing manufacturer GAF, Arkestro's Innovations in Sourcing award demonstrates the benefits of predictive procurement for managing nationwide logistics including optimization of shipping routes, cost reductions and timely deliveries across various regions.
"Our team at Arkestro takes immense pride in seeing our customers win," said Arkestro's Co-Founder and Chief Strategy Officer, Edmund Zagorin. "That's why we were so thrilled to see GAF take home the Innovations in Sourcing Award, in recognition of our transformative work implementing AI-powered predictive procurement for Logistics, which anyone can tell you is an extremely complex supply category to source."
As governing bodies continue to enact new regulations and legislation for supply chains, global companies must stay compliant with the solutions and technology being used for sourcing. Arkestro's innovative approach to procurement, which incorporates AI and behavioral science to help optimize and automate procurement cycles, provided Arm, the company that is building the future of computing, with strong results while staying compliant. This resulted in Arkestro's Innovation in Governance/Compliance recognition where Arm was able to achieve supplier compliance with service level agreements and pricing in IT spend.
"Arkestro has been a strategic and innovative partner for Arm," said Sean Park, Vice President of Procurement and Transformation, Arm. "The level of dedication to our success has allowed us to drive significant impact at a high velocity enabling us to better contain and manage spend while ensuring procurement processes are compliant and scaling efficiently."
"Equally exciting, was to see Arm Holdings take home the Future of Sourcing Award for Governance and Compliance, for implementing predictive procurement to not only deliver dramatic hard cost savings on their IT spend but also deliver improvements in working capital," shared Zagorin. "Five years ago I was present at the first Future of Sourcing Awards, and it has long been a dream of mine to see an Arkestro customer take home one of of these wins. We saw that dream brought to life twice - and I think that puts a big smile on the face of every Arkestrian. These sourcing awards validate that we are helping procurement teams deliver on the massive opportunity of AI in simplifying and accelerating complex supplier quoting cycles, even in the hardest-to-reach categories. And the bottom line results of these Arkestro customers clearly speak for themselves."
To learn more about PPO and Arkestro, please visit www.arkestro.com.
About SIG
The Sourcing Industry Group (SIG|ORG) is the premier global membership organization for sourcing, procurement, and outsourcing professionals. SIG provides its members with a comprehensive array of resources, including industry research, professional development opportunities, and networking events.
About Arkestro
Arkestro's predictive procurement platform uses data science, machine learning and behavioral science to help companies quickly get to a market competitive price, every time. Top enterprises leverage Arkestro to confidently optimize their procurement cycles with direct actions and clear recommendations, managing spend at scale without increasing headcount. See Arkestro in action at arkestro.com.
Fight or Flight PR
Tiffani Lee-Zhang
Arkestro@fightorflight.com
View original content:https://www.prnewswire.com/news-releases/arkestro-earns-two-prestigious-2024-future-of-sourcing-awards-302273840.html
SOURCE Arkestro
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