Global integrated energy leader has selected Arkestro's Predictive Procurement Platform to deliver dramatic cost savings and mitigate risk
SAN FRANCISCO, Feb. 26, 2025 /PRNewswire/ -- Arkestro, the leading Predictive Procurement Platform announced today that a leading multinational energy company has entered into a global multi-year enterprise agreement to deploy Arkestro's platform across the entirety of its global supply chain operations, including upstream, downstream, midstream, and retail. This agreement was reached after a rigorous evaluation and fast implementation process, delivering tens of millions of material dollar value, driving a measurable impact on earnings per share through hard savings and transformational improvement in performance and operational agility across multiple priority commodity types.
This global energy leader continues to extend its use of Arkestro, removing outdated and inefficient processes that leave margin on the table. Their team has unlocked an impressive 20+% cost reduction in procurement margins. This ongoing partnership highlights how predictive procurement drives efficiency and its cost-effective impact within complex, global procurement environments.
"Our customers are seeing an immediate and significant impact on cost reductions and cycle times with the Arkestro platform," says Arkestro Founder and Chief Strategy Officer, Edmund Zagorin. "We look forward to working with this energy leader as a strategic partner as we help their world-class procurement functions address significantly more spend, freeing up time for their team to focus on high-value, strategic priorities."
"This relationship has been a tremendous milestone for Arkestro and we're thrilled to be partnering with a top-tier energy company to showcase the power of predictive procurement in action," said Rob DeSantis, Co-Founder and CEO, Arkestro. "Twenty-five years ago when I co-founded Ariba, this energy leader was one of our early customers. I am excited that still today, they have maintained its legacy of innovation with Arkestro's platform. With our core patented three science technology, we empower procurement teams to accelerate savings and drive faster, data-driven decisions for a fast-moving industry. We are thrilled to partner with this world-class company to maximize this value across its international supply chains."
Arkestro's Predictive Procurement Platform uses AI, behavioral science and game theory to accelerate sourcing cycles, enhance supplier collaboration, and drive an average of 18.8% cost reduction across all spend types. With accelerated decision-making, stronger supplier partnerships, and improved cost savings, Arkestro enables this Fortune Global 500 company to turn its procurement department from a cost center to a margin-driving function.
This global, integrated energy leader joins a growing roster of global energy enterprises that have leveraged Arkestro's technology to transform how procurement teams negotiate, engage with suppliers, and drive efficiencies across their supply chains.
About Arkestro:
Arkestro's Predictive Procurement Platform accelerates enterprise spend transformation to unlock trapped savings and reduce risk, enabling teams to influence significantly more spend. By combining AI and game theory with Arkestro's patented three science technology, Negotiation Science, Supplier Science, and Process Science, procurement teams can improve win rates while strengthening supply chain agility. Trusted by Fortune 500 companies across industries, Arkestro shifts traditional procurement to become a proactive, results-driven function—eliminating inefficiencies, optimizing negotiations, and enhancing supplier collaboration.
Arkestro has been recognized for its industry leadership, including being named a Sample Vendor for Autonomous Sourcing, Autonomous Procurement, and Supplier Discovery in Gartner's 2024 Hype Cycle, and a Top Tech – Sourcing provider in the Fall 2024 SolutionMap. Learn more at www.arkestro.com.
Arkestro Press Contact:
Tiffani Lee-Zhang
arkestro@fightorflight.com
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SOURCE Arkestro
