Skullcandy Selects Icertis to Streamline Contract Management in the Cloud

CIOReview Team | Thursday, 03 March 2016, 11:09 IST

Icertis, the leading provider of contract lifecycle management in the Cloud, today announced that Skullcandy, Inc., the original performance lifestyle audio brand, has selected the Icertis Contract Management (ICM) platform to systematically manage its contract operations. Skullcandy will roll out ICM over the next 60 days to users across legal, HR, procurement and sales departments as part of its contract management process.

According to Gartner, the contract lifecycle management market will grow 40% by 2017, becoming a $2 billion business in the US. Icertis, a premium technology provider, is helping multinational organizations get ahead of unavoidable contractual risk with its highly configurable platform, which provides deep analytics on top of best-of-breed contract management. The company currently helps manage upwards of 2 million contracts for enterprises across the globe, including HBO, Microsoft and Hyundai. Skullcandy joins the roster of first-class Icertis clients as “the world’s coolest ear bud” named by Fortune magazine and third most-sold headphone in the U.S.

“As a global brand, we have an extensive contract library relevant to all departments internationally,” said Oriana Kacirek, Senior Manager & Corporate Paralegal for Skullcandy. “We wanted a robust platform to manage our process across all of our supply, vendor and license relationships. Icertis’ platform offers superior capabilities that align with our technology, business and operational needs.”

Different from other contract management platforms that narrowly serve specific contract types, ICM was built from the ground up to manage all types of contracts from creation to expiration. In evaluating the platform, Skullcandy recognized the operational and financial benefits of maintaining a 360-degree view of all contracts, especially as it relates to issues with expirations and cross-departmental communication. The ICM platform offers real-time reminders and change notifications, along with user provisioning controls to restrict access to sensitive documents. For non-technical users within the company, ease of use was a major value-add, citing the ICM user interface as being easily adaptable by any department.

“Contract complexity and audit scrutiny is only expected to intensify, so the days of manually tracking contracts and assessing risk are becoming a thing of the past,” said Samir Bodas, CEO of Icertis. “As Skullcandy continues to introduce new product lines and expand into international markets, our holistic approach to contract management will grow and scale with them.