Pactum AI’s Post

AI agents are more than just fancy chatbots, writes ADWEEK in this useful explainer: https://lnkd.in/dypM-JaV "A large distribution company grappling with managing 100,000 suppliers used Pactum’s AI, which deploys autonomous agents for negotiations. Instead of seeing negotiation as a dead end, these AI agents operated continuously to customize payment deals based on the speed at which suppliers’ goods moved. Vendors with faster-moving goods were offered more favorable payment terms. These tailored negotiations resulted in price discounts, rebates, and allowances, according to Pactum’s president, Martin Rand."

We’re excited to partner with OMV as their procurement team begins autonomous negotiations with suppliers. 👇 As a leader in the fields of chemicals, fuels, and energy, OMV is investing heavily in innovation to transform the industry and, ultimately, help build a better, more sustainable world. We completely agree that procurement is key to driving this wider change - and autonomous negotiations will add significant new capabilities to the team in support of that.

Autonomous negotiations isn’t the future, says Paula Glickenhaus, CPO at Bristol Myers Squibb. It’s already here. At #DPWAmsterdam, she discussed how to nail and scale autonomous negotiations with suppliers, alongside Michael DeWitt from Walmart, Pactum CEO Kaspar Korjus, and Philip Ideson from Art of Procurement. Here’s a few minutes of highlights. Over the past four years, autonomous negotiations have been successful in every category and every country that we’ve done, explained DeWitt. “The sky’s the limit”.

Procurement is poised for major transformation, explain Matthias Gutzmann & Dr Remko Van Hoek opening DPW Amsterdam. It will no longer be seen as an administrative function. By working with AI agents, procurement teams are about to exponentially grow their business contribution and take on a higher level strategic role. That’s certainly kept us busy today. Don’t miss “How To Nail & Scale Autonomous Negotiations With Suppliers” tomorrow: https://lnkd.in/dGWY-2hH

Meet us at DPW Amsterdam where autonomous negotiations are high on the agenda this week. You can find us at booth 14, connect with our team there through LinkedIn: Kaspar Korjus, Martin Rand, Dan Tunnicliffe, Florian Geserich, Fabio Herle, Michael Heeks, and Adam Rang, or email adam.rang@pactum.com to arrange a meeting or demo. DPW attracts leading innovators in procurement from around the world and there will be a session on Thursday at 10:10am about “How to nail and scale autonomous negotiations”, which includes Michael DeWitt of Walmart. It was a nice surprise to see Kaspar’s portrait above the main hall. Next to him is Paula Glickenhaus, CPO at Bristol Myers Squibb, who is also speaking about autonomous negotiations. See you there.

Here’s a peek behind the scenes at Pactum, courtesy of a new report in EuroNews. We’d like to add that Kaspar Korjus has long since converted his father into being a fan of autonomous negotiations! That office will be quieter this week as Kaspar and members of our team will be at DPW Amsterdam where autonomous negotiations will be a hot topic. Reach out to us if you are there too. There’s an accompanying article to that EuroNews report here, which looks at the bigger picture of AI development: https://lnkd.in/diRKpXgu