Pactum, a startup backed by the founders of Skype and TransferWise, released its first self-named tool on Wednesday. The solution puts artificial intelligence (AI) squarely in the pilot seat of vendor and service contract renegotiations, joining the pantheon of solutions attempting to put a dent in some of the agreement-related tasks log-jamming corporate to-do lists.
Martin Rand, Pactum’s CEO, seems confident that the solution’s data-driven approach to negotiations is enough to separate it from players on the field that tend to operate in more of a third-party intermediary capacity, requiring both sides to submit their negotiation preferences.
