European businesses gain AI-powered contract tools with local data hosting
EU firms can use Workday’s AI contract tools with EU-hosted data, cutting compliance risks and enabling multilingual contract management.
Workday has rolled out its Contract Lifecycle Management (CLM) platform with EU-hosted data in Frankfurt, allowing European organisations to use AI contract tools while keeping all data within the EU.
German, French, and Spanish language support is live, with more languages planned. The update is part of Workday’s EU Sovereign Cloud strategy, targeting the CLM market, which is set to grow to $1.9 billion by 2033.
The platform uses AI agents to automate contracts. The Contract Intelligence Agent extracts terms, obligations, and renewal dates to create a searchable repository, while the Contract Negotiation Agent flags deviations, drafts redlines, and speeds approvals.
Multilingual support ensures smooth workflows across Europe’s largest commercial languages, improving compliance and efficiency.
GDPR compliance remains critical, with fines up to €20 million or 4% of global turnover. EU-hosted CLM removes offshore data risks, which are crucial for the finance, healthcare, and defence sectors. Workday combines AI efficiency with full legal compliance.
Decision-makers should focus on three priorities: EU data residency, leveraging AI agents to accelerate contracts, and integrating CLM with HR and finance systems to maximise value. Workday aims to capture market share in Europe against competitors such as Icertis and DocuSign.
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