#63: 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.