Pactum automates negotiations and interactions with suppliers and service partners using advanced AI.
We’ll help you to optimize value across
Contact many suppliers in a short time frame, negotiating commercial and legal terms automatically:
- Pactum negotiates rebates, discounts and payment terms, as well as item and category costs. It also negotiates the introduction of new products and programs.
- The system removes human error and cognitive bias from the process, reducing exposure to reputational risk in legal negotiations.
- Change the commercial set up of negotiations to create competition among suppliers.
- Yield fast results from post-merger vendor integration by conducting thousands of negotiations simultaneously.
- Our AI automatically conducts negotiations with suppliers, aiming to maximize gains from intended distribution center re-allocation, unification of payment terms and the unification of legal terms.
Bid to negotiation to contract
Pactum automates the entire bid-to-contract process, right from initial sourcing through to fully signed agreement.
Our software integrates with all procurement suites, meaning you can run your sourcing event through your existing software. Keep teams connected and up to date with progress.
Pactum will conduct parallel negotiations with your chosen vendors, using game theory and negotiation best practice to drive a competitive process that delivers value for all parties.
Based on pre-approved legal and commercial terms, Pactum can automatically select the winner of the sourcing event, compile the contract, and trigger the signing process with the eSignature software of your choice.
Add automated negotiations to Purchase Requisitions
Purchase requisitions across long-tail categories cost millions in annual spend and drain time. The ROI is also hard to control.
Pactum can unlock a significant amount of hidden value in tail-spend contracts, reducing spend by $2M to $11M per $100M of tail spend. After creating a purchase requisition in your procurement platform, Pactum’s AI automatically negotiates with your supplier to reach a pareto-efficient deal.
The AI learns the value function and acceptance criteria for the purchase requisition, sending the purchase order to the supplier automatically once an agreement is reached. This keeps tail spend under control and frees procurement teams to get on with strategic work.
Over time, the AI will also learn about suppliers and their preferences, offering insight that can be used in future negotiations and strategies.
Negotiate and collect information from hundreds of logistic vendors
Conducting transportation rate spot negotiations can take hundreds of hours per week for your Procurement Teams. Such low-value transactional negotiations can be automated using Pactum’s AI.
Pactum can be integrated with your Transportation Management System and other information sources to understand the future transportation needs of your organization. Predicting higher needs, Pactum can contact new vendors and verify if they are compatible to do business with you and include them in the list of approved vendors.
Knowing the exact need, Pactum can reach out to vendors, conduct a competitive negotiation simultaneously with many vendors, reach an agreement with the best bidder and trigger the next steps to ensure that your cargo keeps moving without delays and interruptions.
Pactum helps to keep the costs under control, negotiates better freight rates, and frees up your Procurement team’s valuable time.
AI has lately become capable enough. Take the leap of faith.