Cloud-enterprise specialist Infor has recently announced a new partnership with predictive procurement specialist Arkestro. The partnership with Infor Marketplace aims to enable AI-driven procurement, sourcing, purchasing and supply chain management transformation for global enterprise operations.
The Infor Marketplace features hundreds of solutions across key regions, with each designed to complement existing Infor investments. With the new partnership, Arkestro can tap into the over 60,000 customer base and offer clients the use of its predictive procurement platform.
Arkestro’s predictive tech combines behavioral and data science with machine learning to help customers reach a market-competitive price. Users can leverage Arkestro’s procurement solution to help optimize procurement cycles via direct actions and clear recommendations. It can also provide the confidence to scale without increasing employee headcount.
Through the use of machine learning and behavioral analytics, manual processes and entry into spreadsheets can be eliminated, helping procurement teams deliver a faster and simpler requisition approval process. According to Arkestro, enterprises using its procurement solution can see an average saving of 16 percent in the first 60 days.
“This partnership with Infor is a boon for our customers,” said Neil Lustig, CEO of Arkestro. “By integrating our predictive procurement technology with Infor LN ERP and Infor CloudSuite Industrial Enterprise powered by Infor LN, our customers are heroes to their stakeholders, getting faster Purchase Orders cut with greater compliance and confidence that they are getting a good deal for the business. That’s what enterprises are looking for from AI, the ability to deliver a transformative impact within their procurement and supply management functions.”
“We are excited to welcome Arkestro to the Infor Marketplace,” shared Sara Cruz, senior partner manager at Infor. “Extensions and integrated solutions like Arkestro help our customers improve workflows, reduce cost and deliver greater efficiencies. We look forward to seeing how our customers will leverage predictive procurement technology into their procurement and supply chain operations.”
This new partnership comes as Infor prepares to relaunch its partner program for the first time in eight years, with hopes that the new program will be a “defining moment for partners,” according to Jeanne Newberry, senior vice-president of business development at Infor.