Automating Commercial Negotiations with Martin Rand of Pactum

In this episode, Santosh is joined by Martin Rand, CEO and Co-Founder of Pactum. Santosh and Martin discussed how Pactum unlocks value from the long tail by automatically negotiating contracts on a massive scale using a chat-based format. This episode focused on:Launching Pactum as a start-up (2:50)Reaching pareto optimality in negotiations (4:45)Use case description of negotiation with vendors (6:23)Benefits seen and value created for customers and suppliers (12:28)Example of Pactum in retail (20:15)Where Pactum fits into the future of the supply chain (21:57)How launching a second startup compares to launching your first one (24:01)Determining pricing strategy and utilizing profit-sharing (26:01)Lessons learned from having an engineering team in Estonia (28:50)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 company is based in Mountain View with engineering and operations in Estonia. Find out more at pactum.comAbout The Future of Supply Chain:During each episode of The Future of Supply Chain, we sit down with a different entrepreneur, investor, or industry veteran to discuss their story, views on the industry, and how we can collectively build the future of supply chain together. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.