Source: 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.
“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.”
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.