Creating a single source of truth
Since 2007, Masabi has delivered groundbreaking public transport ticketing solutions in countries around the globe, including the first mobile ticketing applications for transport authorities in the UK, US and Australia. Masabi recently integrated ticketing for public transport into the Uber application for passengers in Denver, and has done the same for leading journey planning apps in the US and Japan. Masabi is bringing fare-payments-as-a-service to public transport agencies everywhere.
The challenge: scaling contracts without scaling legal
Before Juro, contracts at Masabi were managed in Google Docs, but the legal team had no centralized source of truth. Moving between different platforms - from email to Google docs, Word to Excel - had a negative impact on the overall end-to-end process, according to Igor Poroger, who joined Masabi as Group General Counsel in October 2018.
“Upon joining Masabi, I assessed the technology and processes in place and started looking at solutions that would help future-proof the legal function, to continue supporting the business as it scaled,” says Igor. “After the contract is negotiated, the contract owner will seek to get approval or sign-off from an executive. Lack of transparency is always a problem with contracts, and that’s what we’ve been looking to solve too.”
Introducing a transparent and efficient contract workflow was key for the legal team to provide critical support to a business development team across three continents.
“For efficient legal operations it’s really important to establish a single source of truth: I’m very happy with the solution and with the support we’ve received”
The requirements: what did Masabi need?
Masabi needed a platform that would become the central hub and single source of truth for contracts - saving time on legal processes, but also offering full transparency into legal documentation for the relevant stakeholders.
This was especially crucial given Masabi’s investment environment, where due diligence could be on the horizon in the future: “we completed a series C investment round; this kind of environment means that there is a good chance that due diligence projects are around the corner, so I need to be sure that our system of record is there.”
The solution: a system of record for contracts
Masabi decided to implement Juro in July 2019, in order to create a system of record for contracts and offer a self-serve approach for templates and document maintenance. After a speedy implementation, Masabi quickly began to see value.
- Rapid time-to-value: the new process simplified collaboration across different teams. “I saw a real difference in transparency with the first contract my CFO signed off under that process. I assessed the risk, was happy, and could get the CFO in on the process early. Right away I saw that value - we’re definitely seeing the benefit and positive responses from the team when they encounter Juro.”
- Empowered process: “Juro enables me to ensure that documents have gone through legal review, at which point I assign a nominated exec to review and sign off on the contract.” This flexibility allows Igor’s colleagues to self-serve, while he retains full transparency and oversight of the contract signing process.
- One source of truth: having a centralized platform made the process standardized, easy to maintain, and allowed the company to remain due diligence-ready at all times. “Having visibility for all our contracts, not having to chase across systems, is key. For efficient legal operations it’s really important to establish a single source of truth. Overall I’m very happy with the solution and with the support we’ve received so far.”
“Having visibility for all our contracts, not having to chase across systems, is key”
The results: “now our source of truth is Juro”
Finding a centralized platform that offered transparency and ease of document management was vital for Masabi’s legal team. General Counsel Igor wanted to create a process that was simple to implement, maintain and control. Now, Masabi can manage contracts on Juro’s platform, mitigate potential risk and maintain transparency for critical legal documentation.
“That’s how I see ROI, as well as enabling me to sustain the current size and operate as a legal team of one, even though the business is growing so much. Now our source of truth is Juro.”