JourneyApps

JourneyApps is a powerful app development platform for mid-sized through Fortune 500 companies. This unique platform enables companies to develop enterprise grade apps while minimizing coding and developer time. 

Founded in 2009, JourneyApps has been empowering industrial companies to drive digital transformation of business operations since the peak of the tech revolution. In addition, the company’s “Rapid-Code” platform offers all the productivity benefits of a low-code platform with the full power and flexibility of native custom applications.

Being one of the first companies in its space, JourneyApps quickly saw an influx of customers and revenue. With soaring demand, company leaders noticed that existing business operations weren’t keeping up. At the time, JourneyApps was using Dropbox as a contract repository, which was slowing down business and resulting in costly billing errors. 

Employees were not able to find or access the documents they needed, teams were missing opportunities to cancel or renegotiate contracts prior to expiration dates, and contract audits were taking months to complete. Dropbox also limited contract visibility across teams and departments.

Eventually, JourneyApps’ CFO Pieter-Francois Theron had had enough.

“Engineers often didn’t have access to the final versions of contracts, which meant they often worked with the wrong scope,” Theron said. “Due diligence was a nightmare because we were unable to make reliable lists of contracts by type. Our financial statement audits were labor intensive and required a lot of context by the staff involved as contracts were not linked to our billing at all. Billing errors resulted in financial losses.”

After taking a step back and examining its existing contract management lifecycle, Theron identified four gaps that were causing the majority of the issues, with some resulting in five figure losses for the company.

• Lost Files and Overwritten Changes: The inability to collaborate on contract reviews led to significant delays in the ability to execute new agreements.
• Limited Accessibility and Visibility: Lack of visibility into contracts across departments led to billing errors and misalignment on project scope.
• Lack of Connectivity with Other Platforms: The inability to link contracting with other key platforms resulted in inefficiencies and wasted resources.
• Inability to Effectively Locate Contracts: Not having the ability to assign unique IDs to contracts, search by meta data, or scan written documents made finding contracts time-consuming.

When Theron set out to find a better contract solution, improved collaboration and a systematic approach to contract storage were top of mind. After evaluating multiple solutions, Theron discovered ContractSafe. He immediately took note of its clean user interface and ability to display contracts while making contract details clear and visible. A secondary selling point was ContractSafe's volume-based pricing structure, which allows customers to pay by contract quantity instead of users.

While Theron initially had concerns about the ease of implementation, ContractSafe’s Customer Success team made sure deployment was simple and quick. The team assisted JourneyApps with the creation of unique identifiers for each contract, which helped to create a systematic approach to document storage and retrieval. According to Theron, employee adoption has been strong.

Since implementing ContractSafe, JourneyApps has saved thousands of dollars and hundreds of hours by streamlining contract management. With ContractSafe, the company's finance, legal, sales, and management teams can all collaborate on contract reviews. No team is left out of the loop, regardless of location. Effective search tools and advanced optical character recognition (OCR) technology make it easy for employees to find the exact document they’re looking for and reduces the amount of time teams spend manually searching for documents.

After shifting from manual processes to ContractSafe, JourneyApps has benefited from:

• A substantial increase in revenue due to an improved ability to scope customer contracts and adequately execute fee revisions.
• An additional $10,000 in revenue uncovered by identifying and resolving contractual billing errors that occurred due to poor contract management.
• More than 125 hours saved by reducing the time it takes to process contracts, perform due diligence, and satisfy annual audits.

Additionally, the use of ContractSafe’s unique contract IDs has also allowed JourneyApps to tie revenue and expenses back to specific contracts and create a more holistic view of overall business performance across the entire enterprise. ContractSafe has become a key part of JourneyApps entire customer lifecycle—from billing and SLA management to account management and sales.

Had JourneyApps not selected ContractSafe, Theron said the company would not have been able to scale areas of the company that heavily relied on executing custom contract terms. In addition, it wouldn’t have been able to automate its internal billing system – a process that has saved the company thousands of dollars. 

Regardless of size, all companies must effectively manage contracts. Effective contract management tools can help organizations generate more revenue and pay for themselves in resource savings. When companies trust ContractSafe to streamline document management, they're able to save time, increase visibility, and ensure safety.