Pactum AI Launches SAP Integration to Solve "Tail Spend"
AI Chatbot solution saves millions of dollars through autonomous negotiations for enterprise customers.
MOUNTAIN VIEW, Calif., July 18, 2023 /PRNewswire/ -- Pactum AI, the pioneer of autonomous negotiations, has announced that its integration with SAP is now available on the SAP® Store, the online marketplace for SAP and partner offerings. This addition brings cutting-edge AI chatbot negotiations to the SAP procurement world, enabling organizations to optimize purchasing negotiations and unlock significant cost savings.
Pactum's innovative solution in the SAP store focuses on under-managed spend and one-off purchase requisitions below $150,000. By leveraging autonomous negotiations powered by advanced algorithms, organizations can achieve better pricing and payment terms without the need for manual effort. The seamless integration with SAP Ariba empowers users to enhance requisition pricing and streamline negotiations, resulting in unprecedented efficiency and profitability.
Martin Rand, Co-Founder and CEO of Pactum AI, expressed his enthusiasm about the collaboration, stating, "We are thrilled to partner with SAP and add our AI-powered chat negotiation capabilities into the SAP Ariba platform. This partnership enables businesses to harness the full potential of their under-managed spend and realize substantial savings. By automating and streamlining the negotiation process, organizations can achieve better outcomes, optimize supplier relationships, and drive bottom-line savings."
Pactum's technology drives bottom line savings via autonomous negotiations by automating and simplifying both competitive and single-source negotiations, and optimizing underutilized spending. It also allows for automated cost savings and speeds up negotiation processes with the help of AI-powered chatbots. Lastly, it promotes better collaboration between buyers and suppliers.
Claudio Pinto, Senior Director for ISBN Partnerships at SAP commented on the positive gains in efficiencies and value that Pactum AI will bring to enterprise customers, "We are in the business of automation at scale, and as we enter the age of AI combined with chatbots, we look forward to bringing a solution to our customers that can scale value creation for supply chain, procurement and logistics."
Pactum AI is used by some of the largest companies in the world to autonomously negotiate contracts that are usually left un-negotiated - also known as the "tail spend" problem in procurement. Pactum is a "Silver SAP Partner".
SAP Store, found at store.sap.com, delivers a simplified and connected digital customer experience for finding, trying, buying and renewing more than 2,300 solutions from SAP and its partners. There, customers can find the SAP solutions and SAP-validated solutions they need to grow their business. And for each purchase made through SAP Store, SAP will plant a tree.
About Pactum AI
Pactum AI is revolutionizing the way businesses manage supplier relationships through autonomous negotiations using AI and Chat allowing large enterprises to create millions of dollars in value and goodwill across supply chains. This cutting-edge technology automates even the most complex negotiations and can finalize thousands of agreements in minutes. By engaging suppliers on a mass scale, businesses can save valuable time and free up their teams to focus on strategic tasks while ensuring that the agreements work for everyone involved. Established in 2019 by experienced entrepreneurs and technology executives, the company is headquartered in Mountain View, California, and serves customers worldwide.
To learn more about how Pactum AI can help your business optimize its negotiations, visit www.pactum.com.
SAP and other SAP products and services mentioned herein as well as their respective logos are trademarks or registered trademarks of SAP SE in Germany and other countries. Please see https://www.sap.com/copyright for additional trademark information and notices. All other product and service names mentioned are the trademarks of their respective companies.
SOURCE Pactum AI
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