Walmart To Engage Pactum AI For Supplier Negotiations

“The underlying principle of efficient negotiations is that it’s not a zero-sum game,” said Rand. “The fact that one party wins with Pactum means the other party will win as well. Pactum removes the inefficiencies from low value, high volume deals.”

In addition to retail, Pactum is also negotiating deals in real estate, online marketplaces, and online advertising. Pactum first showed early success with a daily deals company where it helped to increase vendor commission by 27% and 82% of those vendors said they would prefer to negotiate with that same bot again.

Pactum’s team of analysts begins each project by mapping what they call the “value function” in a given set of negotiations. This is combined by Pactum’s negotiation chatbot which is capable of autonomously conducting best practice negotiations prepared by Pactum’s negotiation scientists. Once a negotiation is complete, all information is updated automatically in relevant systems such as ERP and CRM.

Pactum is an AI-based system that helps global companies to autonomously offer personalized, commercial negotiations on a massive scale. The system adds value and saves time for both the Pactum client and their negotiation partner by aligning their values to determine win-win agreements via an easy-to-use chat interface that implements best-practice negotiation strategies.

The web-based tool’s applications range from supplier negotiations for online marketplaces to enterprise and retail procurement negotiations. The company is based in Mountain View with engineering and operations in Estonia. Pactum is backed by founders of Skype, TransferWise and Twilio and built by luminaries from Skype, Starship Technologies and the Government of Estonia’s e-Residency program.