Overview
Product Information on Workday Contract Lifecycle Management
What is Workday Contract Lifecycle Management?
Workday Contract Lifecycle Management Pricing
Workday Contract Lifecycle Management Product Images
Overall experience with Workday Contract Lifecycle Management
“AI Features Enhance Contract Review”
“Generative AI Features Strong but Workflow Customization Remains Limited with Bugs”
About Company
Company Description
Workday is the AI platform for managing people, money, and agents. Workday unifies HR and Finance on one platform with AI at the core to empower people at every level with the clarity, confidence, and insights they need to adapt quickly, make better decisions, and deliver outcomes that matter. Workday is used by organizations around the world and across industries.
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A Snapshot of What Matters - Based on Validated User Reviews
User Sentiment About Workday Contract Lifecycle Management
Reviewer Insights for: Workday Contract Lifecycle Management
Performance of Workday Contract Lifecycle Management Across Market Features
Workday Contract Lifecycle Management Likes & Dislikes
We like the improved visibility and searchability of our contract repository, and we like that, at least for the contract types we've launched to date, it has standardized intake and given us the ability to track metrics around contracting that we couldn't before. Ask AI is also a huge positive. Our users love being able to interrogate their contracts and it has allowed us to generate a ton of excitement as we move to the next phase of implementation.
I like the strong generative AI analysis searching capabilities
It is technologically superior to its nearest competitors and helps my organization function more efficiently and handle risk challenges significantly quicker than traditional methods.
The biggest opportunities are in rounding out core CLM capabilities and tightening integration across the platform. We'd like to see stronger support for counterparty negotiation directly in-tool, built-in template management (though this is on their roadmap), and a more seamless connection across workflow, repository, AI and automation hub so the experience is unified. We also have been frustrated with data extraction. The tool can extract some data out-of-the-box, but if you want more out of your contracts, you have to either pay for Custom AI (which is a not insignificant uplift and extremely clunky to work with) or find workarounds like adding more fields to intake forms and pushing that data into the repository. From a user perspective, that workaround is not ideal. Additionally, there's a huge missed opportunity in terms of intake/workflow - no AI functionality in that part of the tool, meaning if you upload 3rd party paper, you still have to manually select/type the necessary data to kick off the workflow. In a perfect world, AI would extract that automatically.
No customization on the Workflow or approval build out. We have to do a lot of work arounds to get it where we need it to be. AI training automation requires A LOT of work. Does not meet expectations as advertised and only yields limited results/hits during the training process. There are tons of bugs that should have been ironed out. Engineering team should have already vetted them out.
Workflow automation takes a little bit of time to set up at first. This would be the only area where I would recommend a few UI improvements.
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Peer Discussions
Workday Contract Lifecycle Management Reviews and Ratings
- Legal and Compliance Associate10B+ USDTravel and HospitalityReview Source
AI Features Enhance Contract Review
The overall experience, which is ongoing as we are still implementing, has been positive. The team has been terrific to work with, and we've found them to be flexible and innovative. Our experience now that we've launched the first phase, it's also been positive overall. We have had some challenges with adoption, but no more than one would expect with legal technology. Workday CLM has been a meaningful step forward for our CLM maturity. - Director of Procurement50M-1B USDSoftwareReview Source
Software Facilitates Faster Contract Analysis & Improves Risk Mitigation Amid Significant Tariff Change Challenges
Great customer service and well functioning software that improves outcomes for our company. It pays for itself in a very short period of time. We had several high-risk challenges regarding tariff changes and the software platform helped us parse through hundreds of contracts that would have taken weeks with traditional review methods. I have tested other software platforms in the marketplace and none are as easy to use or accurate. - Legal and Compliance Associate10B+ USDTravel and HospitalityReview Source
Workday CLM Delivers Leading AI Value with Meaningful Progress Underway to Close Gaps in Traditional CLM Functionality
The Workday CLM team (Professional Services and Product) have been incredible partners to us during our multi-year and phased implementation. - Manager, Legal and Compliance<50M USDRetailReview Source
Generative AI Features Strong but Workflow Customization Remains Limited with Bugs
IMy user experience is a little above average. Strong AI present but lacking in pre-contract process workflow build out. Dashboard is NOT first in class as compared to other CLMs. Does not pull in correct AI fields as advertised. - Senior Vice President1B-10B USDHealthcare and BiotechReview Source
Excellent Technology and Exceptional Client Support
Excellent technology paired with exceptional customer support.