AI-Powered Contract Intelligence Solution Will Help Fashion Retailer Ensure Compliance and Gain Visibility into Merchandising, Construction, Real Estate, and Other Agreements
Icertis, the contract intelligence company that pushes the boundaries of what’s possible with contract lifecycle management (CLM), announced today that Pacsun, a leading specialty fashion retailer, has selected the Icertis Contract Intelligence (ICI) platform as its enterprise-wide CLM solution. By digitally transforming contract management, Icertis will further modernize Pacsun’s retail supply chain and merchandising operations, help ensure regulatory and industry compliance, and maximize the value of corporate contracts. [Icertis made the announcement from NRF 2022 Big Show, Booth #3952, where it showcasing its solutions for Retail, CPG, and Distribution]
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“Pacsun is committed to being digital-first when engaging with our customers and vendors. It is important that we lean into advanced technologies for the foundational elements of our business, including contracts,” said Shirley Gao, CIO, Pacsun. “Transforming contract management has become especially important in an ever-changing retail ecosystem. After considering several CLM solutions, we chose Icertis for the company’s best-practice platform functionality and innovative use of AI to unify contract data, as well as the company’s deep retail knowledge.”
Specialty fashion retailer Pacsun will use Icertis Contract Intelligence for enterprise-wide contract management.
The pandemic has accelerated the need for retailers to adapt to new levels of agility to address changing customer demands and competition, supply chain complexity, regional fluctuations in brick-and-mortar foot traffic, and compliance requirements. Pacsun joins a growing roster of Icertis Retail, CPG, and Distribution customers addressing these and other industry challenges by implementing ICI to digitize contracts, connect contract data to surround systems, analyze risks and obligations, and realize the full intent of every contract.
Pacsun offers a cross-section of emerging brands and trending fashion in its 300 retail stores across the U.S., and online. The retailer delivers an exclusive collection of the most relevant styles and brands, including: Adidas, Essentials, and Fear of God, to a community of inspired youth, and is committed to sourcing products from suppliers who conduct business in a fair and responsible manner.
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As Pacsun expands its footprint, the company needs to streamline its contracts with suppliers, distribution partners, and corporate entities, as well as better collaborate across legal, finance, merchandising, and IT. Contract modernization will provide centralized access and visibility into contract data, improving supply chain operations, minimizing risk, and accelerating growth. Icertis will digitize, centralize, and transform contract management across functions, including:
- Merchandising and Marketing
- Supply Chain
- Digital Fulfillment and Distribution
- Retail Management
- Information Technology
- Corporate M&A, Legal, HR, and More
The company will also leverage Icertis’ eSignature Adapter and DiscoverAI application as part of the contract intelligence solution. Icertis DiscoverAI quickly turns legacy agreements and third-party paper into live ICI contracts with structured data and provides a compliance dashboard that centralizes and automates specific key performance indicators (KPIs) of contracts to ensure compliance.
“Pacsun is a great example of an innovator embracing digital transformation of contract management to thrive in an unpredictable ecosystem,” said Phil Barry, Senior Director Retail Industry Solutions, Icertis. “Icertis is thrilled to be partnering with the Pacsun team to arm the business with a full view into all their contracts—from corporate agreements to merchandising and supply chain commitments, and everything in between. ICI will make a significant impact as Pacsun continues to grow their business.”
Icertis launched the CLM sector’s first vertical CLM solutions, including ICI for Consumer Packaged Goods (CPG) & Distribution, in October, 2021.