1. 76% of employees lack clarity on contract ownership. 2. Confusion leads to lost revenue and missed business opportunities. 3. Slow contract processes hinder innovation and efficiency. 4. Unintended auto-renewals result in financial losses for businesses. 5. Workday promotes contract intelligence to enhance business decision-making.
Workday's focus on contract intelligence aligns with market needs, potentially boosting demand for their solutions. Historically, companies successfully leveraging contract management tools experienced increased revenue and reduced operational costs.
The article indicates a significant market need for improved contract management, suggesting Workday's offerings are essential and timely, likely resulting in greater customer acquisition.
The long-term effects of implementing improved contract intelligence will foster a culture of efficiency and strategic use of resources, thus driving Workday's sustained growth and relevance in the market.
PLEASANTON, Calif., July 9, 2025 /PRNewswire/ -- Workday, Inc. (NASDAQ: WDAY), the AI platform for managing people, money, and agents, today released "The Contract Intelligence Index Report." This research uncovers a widespread problem: many companies don't clearly define who is responsible for their contracts. This lack of clarity results in significant financial losses, inefficient operations, and unmanaged risks for businesses worldwide.
Contracts are vital for understanding revenue and obligations. However, if no one clearly owns the contracts, their full value is often lost. The report highlights a major issue impacting profitability: a staggering 76% of employees don't fully understand who is responsible for contracts. This confusion often comes from not knowing whether the vendor relationship manager, legal team or procurement department is ultimately in charge. Without clear ownership, contracts remain static documents, preventing organizations from using the valuable information these contracts contain to drive business growth. Until companies move beyond basic administration to true contract intelligence, companies will continue to simply manage documents instead of strategically using contracts to achieve business results.
"Contracts are packed with critical business information that's often buried across hundreds of pages," said Jerry Ting, Vice President, Head of Agentic AI and Evisort, Workday. "With the rise of AI agents, we can finally turn contracts into living, intelligent assets. Our research shows how legal teams can unlock hidden insights to become a strategic engine that accelerates business decisions, protects the enterprise, and ultimately leads the way to greater efficiency and profitability."
This data comes from the study "Contract Intelligence Index Report," a survey commissioned by Workday and fielded by Provoke Insights in March 2025. The study encompassed 1,250 U.S.-based legal and non-legal enterprise employees across a variety of industries representing organizations across North America; Asia-Pacific (APAC); and Europe.
Workday is the AI platform for managing people, money, and agents. The Workday platform is built with AI at the core to help customers elevate people, supercharge work, and move their business forever forward. Workday is used by more than 11,000 organizations around the world and across industries – from medium-sized businesses to more than 60% of the Fortune 500. For more information about Workday, visit workday.com.