Pacsun is implementing contracting lifecycle management technology.
Pacsun is rolling out an enterprise-wide contract lifecycle management (CLM) solution.
The Newport, Calif.-based teen apparel retailer has selected the Icertis Contract Intelligence (ICI) platform as its CLM solution for the entire enterprise. By digitally transforming contract management, Pacsun intends for Icertis technology to further modernize its retail supply chain and merchandising operations, help ensure regulatory and industry compliance, and maximize the value of corporate contracts.
As Pacsun expands its footprint, the company seeks to streamline its contracts with suppliers, distribution partners, and corporate entities, as well as better collaborate across the legal, finance, merchandising, and IT areas of the business. The company intends contract modernization to provide centralized access and visibility into contract data, improving supply chain operations, minimizing risk, and accelerating growth.
Leveraging Icertis functionality, Pacsun will digitize, centralize, and transform contract management across enterprise functions, including:
Merchandising and marketing;
Digital fulfillment and distribution;
Corporate mergers and acquisitions;
Pacsun will also leverage the Icertis eSignature Adapter and DiscoverAI application as part of the contract intelligence solution. Iceteris DiscoverAI is designed to quickly turn 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.
The retailer has been making other efforts to centralize and align enterprise data. In December 2021, Pacsun began leveraging the SoundCommerce Customer360 cloud platform to align marketing, merchandising and operations data. The retailer intends to have the solution serve as a “single source of truth” for all customer transaction, interaction and event data driving business performance across its retail stores and e-commerce site.
Utilizing the SoundCommerce platform, Pacsun will enrich shopper profiles with identity and demographic attributes, track shopper behavior and value across omnichannel operations, and drive digital marketing campaigns to shopper segment profitability targets.The retailer also intends to optimize assortment, promotions, and fulfillment for customer engagement and customer lifetime value (CLV).
"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."
"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 its business."
Pacsun operates 300 retail stores across the U.S., as well as online.