Suite FAQ

Getting started

1. Log in to suite.pactum.com to access the Suite Platform.
2. Ensure that you have an established account within the Pactum Suite. If not, please contact the business owner to request your login credentials.
3. Upon the generation of your credentials, you will receive an email from a Pactum representative containing your Username and Password for Suite access.

        When at the log in page, please click ''Forgot/Change password?'' to change.

How can I reach out with questions regarding the Suite?

       Please click on the Chat icon in the bottom right corner to reach out to us with any questions you might have.

Glossary of Terms

Main Terms:

Value - Anything which has worth measurable in monetary terms. There are many ways that Pactum creates value, some which are not directly measurable, but Value as a term refers to that which is measurable. Value is split into 2 measurable types:

• Savings - Value created by negotiated terms. 
• Efficiency gains - Hours gained and labor costs reduced as a result of the processes Pactum uses (for example, automations). 

Engaged - Means that a supplier has at least started the actual negotiation. 

Successful - Has generated positive savings.

Concluded - Has a final result which will not change.

Relative Performance Metrics:

Savings rate - Total savings divided by total successful spend. This is the main calculation used by Pactum for relative savings performance.

• Savings rate for concluded spend -Total savings divided by total concluded spend.

Success rate - The count of total successful negotiations (or requisitions, events, etc.) divided by the count of total concluded negotiations where the supplier engaged. If it was a competitive event, all negotiations must be concluded with at least one where the supplier engaged. This is the main calculation used by Pactum for assessing the conversion of the negotiation flow itself.

Engagement rate - The count of total times suppliers have started the negotiation divided by the total number of negotiation links sent out. Measures supplier willingness to engage.

Workflow success rate - The count of total successful negotiations (or requisitions, events, etc.) divided by the count of total concluded negotiation (engagement not required). This measures the conversion of the full process on the negotiation and everything which supports it, up to reaching an agreement.

Negotiation conversion funnel:

Contacted - Optional step. Indicates that we have reached out to the supplier with an initial communication, for example an executive letter or a contact confirmation automation.

Link Sent - Common step. Indicates that the link to start the negotiation has been sent to the supplier.

Negotiation Started - Common step. Indicates that the supplier has opened the negotiation link and begun the negotiation.

Agreement Reached - Common step. Indicates that the supplier has reached an agreement in the negotiation.

Signed - Optional step. Indicates that the supplier has signed all relevant contracts and documents.

Spend Calculations:

All spend - Spend with no filters or parameters applied, including spend which is being actively negotiated.

Negotiated spend - Spend where some agreement was reached, regardless of if savings was generated.

Successful spend - Spend where some agreement was reached which did generate positive savings from negotiable terms.

Concluded spend - Spend for which the negotiation process has ended, regardless of outcome and how many steps of the process were completed. Whatever the outcome was, it is now final.

Types of Efficiency gains:

Hours gained - The difference in time between how long it would have taken the client to do a thing without Pactum vs. how long it takes with Pactum (estimated, or provided by client). Measured in hours.

Labor costs reduced - Hours gained multiplied by an hourly labor cost (estimated, or provided by client)

Other terms:

Unit - In cases of dashboards which aggregate data from multiple workspaces, or workspace-level dashboards where the main entity being negotiated can be present in multiple negotiations with multiple suppliers, these are abstracted into the term "unit". A generic term is necessary because a dashboard might be aggregating data from workspaces which don't share common units. Some examples of types of units:

• A contract being competitively negotiated between N number of suppliers.

• A requisition where multiple suppliers are giving quotes.