Workday enables EU data Sovereignty for CLM solution

Workday has announced major updates to its Contract Lifecycle Management solution, powered by Evisort. After acquiring Evisort

in October 2024, Workday has continued to Invest In the CLM platform. In March last year, Workday added the Evisort Contract Intelligence Agent and Contract Negotiation Agent, rebranding them as Workday solutions.

It has now announced an EU data residency option for Workday CLM. Workday will offer the application hosted in Frankfurt, for German organisations. This will also offer data sovereignty for organisations with even more stringent data residency requirements. In addition, the firm announced AI-powered language support for German, French and Spanish. It intends to extend support to other languages later in the year.

Aine Lyons, Senior Vice President and Deputy General Counsel, Workday. “As organisations look to scale their use of AI, they need a partner that combines innovation with a steadfast commitment to data sovereignty.

“By expanding our data residency offering in Frankfurt and introducing a localised user experience with expanded language support, we are empowering customers to fully leverage the power of Workday CLM to surface insights, accelerate deal velocity, and streamline workflows for their business.”

Opening up the power of CLM Across Europe

Workday’s CLM software lets organisations create, negotiate, and manage contracts. It adds advanced contract intelligence powered by AI to track and display important business data.

The Workday Contract Intelligence agent systematically reviews all signed contracts and associated documents, efficiently extracting, categorising, and summarising relevant terms for your organisation. This process supports informed decision-making and contributes to improved business results.

The Workday Contract Negotiation Agent uses AI to identify risks, draft and revise agreement language, and accelerate contract approval. It helps organisations to accelerate deals, reduce compliance risk, and unlock insights across their contract portfolios.

The third agent within CLM is the Revenue Contract Agent, which converts static revenue contracts into dynamic, strategic assets. It systematically extracts and analyses essential contract data and automates subsequent processes by recommending billing schedules, facilitating revenue recognition, and generating accounting entries. This automation reduces manual tasks for teams and delivers valuable insights to support informed decision-making.

Workday CLM is also supported by the Custom AI Model Library, which gives users access to 120 pre-built AI models trained to identify key clauses, risks, line items, and terms in contracts. The models work across a range of contracts, including HR agreements, vendor contracts, finance, legal, IT and sales deals.

Enterprise Times: What does this mean

With the new residency option and growing support for languages, this announcement will enable Workday to pitch the CLM option to European customers already using its HR and Finance solutions. It is a sensible approach by Workday and will enable them to expand relationships within its European customer base.

The addition of LATAM may also be the first step toward bringing CLM to countries in LATAM where Spanish is the primary language.

There is a significant opportunity with IMARC Group, which states that the European Contract Lifecycle Management (CLM) software market, valued at USD 718.3 million in 2024, is projected to grow to USD 1,863.5 million by 2033, expanding at a 10.62% CAGR. The growth is driven by digital transformation, GDPR compliance, and remote work.

Demand is highest in Germany and the UK, with AI-driven, automated solutions gaining traction in manufacturing and finance.

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