Costa Cruise + Concord

“I like when I send contracts on Friday and find them signed in my Concord inbox on Monday.

Success story with Morgan Hardy, Legal Practitioner at Costa Cruise.

Challenges

Delays from contracts:

A European division of Costa Cruise relies on numerous major travel agencies and distributors as well as 2,000 small travel agencies to drive revenue in various markets. The primary challenge of these partnerships is that the contracts are typically 50 to 70 pages long and require signatures by both parties on all pages. This time-intensive activity could take up to 8 weeks to complete. And it caused delays because partner projects could only be funded after contracts were fully executed.

Hard copies of contracts printed and mailed:

Securing major partnerships required Costa Cruise’s president to review, initial, and sign two original copies of each document. These agreements were printed and mailed, which resulted in significant postage costs along with delays in operations. The legal department also had to constantly check on contract statuses to ensure that the agreements were being processed in a timely fashion.

Distraction to legal service:

The drawn-out contract management process prevented Costa Cruise’s legal department from focusing on essential tasks such as managing daily current affairs and client relationships, drafting business contracts, and handling litigation matters.

Contracts to smaller agencies:

The sheer volume of smaller travel agencies that Costa Cruise works with prevented the cruise line from sending each agency a contract. This presented a missed opportunity for increased partner loyalty and increased market share.

Solution

Able to answer questions about contracts:

The driving factors for Costa Cruise to adopt contract management software were:

  • Project delays due to the long contract processing cycle
  • Frequent inquiries from larger partners regarding contract status
  • Smaller partners did not receive contracts
Issues with other solutions:

When exploring contract management solutions, Morgan Hardy (a legal practitioner for Costa Cruise) found that many digital signature solutions had unnecessary features and were priced beyond the designated budget. Hardy chose to present Concord to his supervisors because it fit their needs and was easy to use.

“Using Concord is incredibly easy, I was pleasantly surprised by the well-thought-out interface.”

Results

Cut contract processing time:

Since implementing Concord, Costa Cruise’s legal team has been able to substantially cut contract processing time. Contracts are now executed in a day, whereas in the past it could take up to 2 months for Costa Cruise’s partners to execute an agreement.

Better organization and flexibility:

The president of Costa Cruise now views and executes contracts with a single signature at his desk, as well as remotely when he is travelling. This ensures key documents are signed off promptly, enabling projects to start on time.

In addition to managing new agreements, Costa Cruise’s teams is able to store previously executed agreements in a central location. Staff members are now alerted about upcoming deadlines and receive notifications when agreements are fully signed.

Improved partner relationships:

While only large partners received contracts in the past, Costa Cruise now sends agreements to all of its partners. Every stakeholder is able to review, discuss, and receive clarification on contract terms and conditions regardless of its size or location.

“Using Concord brought serenity to our partners.”

Takeaways

  • Contract execution time reduced by 97%
  • Projects now start on schedule
  • Process contracts 2 times faster

About the company

Costa Cruise is the first European mass-market cruise line operator to extend to the Asian market. It currently has 25 ships in services and plans to add more ships next year. It is also the first cruise company to build two liquefied natural gas cruise ships, which are powered by the cleanest-burning fossil fuel. As a branch of Carnival Cruise Lines, the company has a presence in Asia, Europe, and the U.S.

Industry

Travel