Workday is moving its data storage for European customers to Frankfurt and introducing multilingual support for its AI-native Contract Lifecycle Management solution.
Workday will store the data of European customers in Frankfurt. At the same time, the company is introducing multilingual support for its Workday Contract Lifecycle Management (CLM). German, French, and Spanish are already available, with additional languages planned.
The combination of additional languages and local data should ensure that organizations can modernize their contract management without compromising on compliance.
AI assistance for contracts
Workday CLM is powered by Evisort AI and is designed to support legal and business organizations. The solution includes a Contract Intelligence Agent and a Contract Negotiation Agent.
The Workday Contract Intelligence Agent converts static contract documents into insights. Workday promises that the system creates a unified, intelligent database that allows teams to identify revenue opportunities and mitigate risks. According to Workday, the tool helps organizations better manage their contract portfolios and proactively address compliance issues.
For negotiations, Workday offers the Contract Negotiation Agent. This tool aims to streamline the process prior to signing agreements. AI is used for risk assessment, drafting, and editing. In theory, the result is a shorter turnaround time and less friction during the negotiation cycle.
The CLM solution also includes a Custom AI Model Library. This library contains more than 120 AI models trained by experts to analyze complex agreements.