Name: Workday Live - Discover Workday Contract Intelligence and CLM: Smarter, Faster Contracts with AI
Uploaded: 2025-03-27T18:16:06.619Z
Duration: 1 h 2 min
Description: Workday Live - Discover Workday Contract Intelligence and CLM: Smarter, Faster Contracts with AI

Transcript for "Workday Live - Discover Workday Contract Intelligence and CLM: Smarter, Faster Contracts with AI": Welcome, everyone. So glad to have you here with us. Thanks for joining us for our webinar entitled introducing Workday CLM and contract intelligence, better contracts faster with AI. We've been thrilled at the response that we've gotten on this webinar today. There's a large group attending, and we're so glad to have you with us. I think you're gonna find this next hour very valuable. A couple of quick things to get out of the way, our product statement. We'll be talking about some product road map and development. So there's our notice around that. We are recording today's webinar, and we'll make that session available on demand afterwards. So anyone that you wanna share it within your organization, you'll be able to do that. Q and a is available, and we will welcome that throughout the session. Feel free to type in your questions at any time. We'll either address them in writing or in the session if we can, and some we'll save for the end. My name is Hal Marcus. I'm a principal in product marketing here at Workday. I came to the organization as part of the Evisort acquisition. I've been leading product marketing at Evisort for a couple of years. I am a active lawyer, active with the California State Bar. I've been in the industry for several decades and focused on legal technology for much of that time. I'm a former general counsel and played a range of other roles in technology. With me today is Tom Boyd, our director of solution consulting. Tom, are you there? Wanna say a quick hello? Thank you very much. It's great to meet you all. I'm Tom Boyd. I'm the director of solution consulting at Workday Contract Intelligence. In a past life, I've been both a practicing attorney and a management consultant at the Boston Consulting Group. So very personally familiar with how hard it is to get one contract right and how hard it is to turn 10,000 contracts into something executives can use to make decisions. I'm very excited to show you today and talk through how you can use some of these tools to make that a lot easier. So thank you very much. Back to you, pal. Thanks for being here, Tom. Tom is gonna take us into a full demo of our solutions shortly, so stick around for that. But first, you're gonna be stuck with me for just a little bit as I walk you through what's changing here at Workday, what's come to the company with Evisort, and some things that you'll notice if you go to the Workday.com website. Literally today, we have added a legal overview page, for all of the folks in the legal and legal operation space that now have contract intelligence and contract life cycle management solutions as part of the Workday ecosystem. We are thrilled to now be part of the Workday company and to bring all of these solutions to the fore and integrate them with the broader Workday platform. So let me give you an overview of what this technology is about. And this is for folks in procurement. Procurement. This is for folks in HR. This is for folks in any part of the organization that benefit from what's in their contracts. And I say that pretty confidently because we know that everyone does. Contracts are the lifeblood of business. Very little happens in a business without a contract associated with any time you buy or sell or hire. You are engaging in a contract. All of your partners, suppliers, everyone. And those are critical for how the business operates, and we all know this. But here's the thing. Most solutions focused on contracts over the years, contract life cycle management solutions and related tools have been focused on contracts as documents. In other words, dealing with how do you get that document created, approved, signed, and maybe the ability to search and find it later. But contracts are more than just documents. They're data. And that data can be buried and lost in lengthy and complex and sorry. We're both lawyers and we'll apologize upfront. Overly complicated legal language quite often, where an answer to a question requires looking at three different paragraphs spanned across a hundred pages. So how do you get to the data that you need in those agreements? And like I was saying, this affects everyone in the organization. If you're in the office of the CFO and you're dealing with procurement, finance, planning, accounting, well, you need to get into supplier and customer agreements, and you have all sorts of terms buried in there that are really important and valuable to you for saving costs, being compliant, planning ahead, etcetera. If you're in the office of, HR, then you've got all sorts of employment agreements and all the data stuck in there. If you are in the office of the CIO or really any other department, numerous other terms that you care about. And increasingly in recent years, data breach notifications, data sharing, confidentiality, critical terms about how you manage all of your partners. So how do you get to that information? Well, I'm gonna first ask you to take a moment and just think about and we know we have people in a variety of roles attending day. Think about something that you would like to know about your contracts that you don't typically know, an answer you can't easily get. Think about what that would be if you could just know it for every contract that affects your part of the business. Well, that's what today is all about. It's about how do you get to that information far more effectively than ever before. So now that Evisort is part of Workday, we are happy to announce that Workday delivers industry leading AI for contracts. What is that about? Well, we do three core things. First, we connect to your contract repositories wherever they are. Now repositories is a generous term. A lot of times we work with organizations, they have contracts scattered across 20 different locations in the organization. Some are on hard drives, some are in cloud repositories, SharePoint, Box, Dropbox, on and on and on. So many places where contracts exist. Well, we can point to them wherever they are in just about any format that they happen to be in and ingest those contracts successfully into our platform and then keep that repository now in sync with all of the other locations that you have those contracts. So if a new one starts inbox or in a SharePoint or in Salesforce, we're able to automatically update that into our system and vice versa. And we get critical data points out of those agreements that we then analyze, and we can share those as well throughout the organization. And that gets us to the second point, which is analyzing contracts. We then provide the tools you need to literally know everything about your contracts and related documents. Now let me explain why I say that so boldly, know everything. Many systems will have some ability to extract certain kinds of information, some key terms, etcetera. Now we do that as well, but we also give you the ability to look for anything else that you want in your in your, agreements and have those terms automatically extracted or generated. This is what we call custom AI modeling. You have the keys and you can create any AI models that you want. You don't need any special skills or coding to achieve that, and you'll see this all in action soon. But none of that information won't be that useful if we didn't give you the tools then to leverage it. And that means advanced search, filtering, reports, and customizable dashboards like the ones that you see here. You can have as many as you like. You can they're fully embedded in the product. And with click and drag capabilities, you can then get total visibility across all the documents. And one last note there, I say and related documents. That means things like invoices, POs, SOWs, things that really help you understand what's in the contract, broader parts of the agreement that are not technically considered contracts. We can ingest those as well, group them with the original contract, and then you have the full story. So when we say know everything about your contracts, we mean it. Now there is a third piece to this as well, and it gets back to that idea of contracts as documents. And that's about the workflows, working with presignature contracts from ticketing, requests, to drafting, negotiation, editing, redlining, approval routing, and then getting them signed and then getting them stored. All of those tools are also available in our platform so that, you can do those things faster and more automated than ever before, including with AI to power solutions like automatic redlining to make surgical edit suggestions for particular clauses so that without ripping and replacing entire sections of your contract, you can get all that language automatically compliant with your playbook. Makes it much easier to get those edits in place, share them with the other side, get the contract negotiated successfully, and move on. So these are the kinds of tools that are available in that third section. Now we broke this down into three sections for a reason. Connect and analyze are fully included in what we call Workday contract intelligence, and we have two options here for a very good reason. The third second option is contract life cycle management, which brings in that third box of accelerate that gives you everything that's in contract intelligence also adds those workflows. And we break it down this way because some organizations have a lot of workflows already in place, have a contract life cycle management solution in place, don't wanna rip and replace that to take advantage of all the tools that we bring to the fore. That's fine. They can implement Workday contract intelligence and plug that into their CLM and supercharge those capabilities with our AI. However, for those that want a full end to end contract life cycle management solution, we offer that as well. So let me call out a couple of the features that you're gonna be seeing in Tom's demo. The first is the ability with a simple conversational experience to ask anything about one contract, all of your contracts at once, or any subset of your contracts, any group. For example, across all of my vendor contracts, have we ever agreed to x? Summarize, please, these notice how nice I am to my AI. I always say, please. I hope you do too. Summarize, please, all the rebate terms and early payment discounts and volume discounts that we can use to save money across these agreements, things like that. Calculating dates, calculating amounts, ranking, rating, classifying terms on a scale of one to five where one is this and five is this. How risky is this term? It can be it can do a lot more than just answer basic questions. But when it does answer those questions, note you see that based on one in the second box there? That's a link to the direct part of the contract that is giving you that answer. So you can always validate exactly where that answer is coming from, move forward confidently, and take action. So that's Ask AI. Now the next step of Ask AI would be, what if you want that question to be automatically asked across all of your contracts or all of a particular kind of contract every time, and you want the answer to be a standard field, just like you would extract counterparty names or very basic terms, contract value. You want the answer to a more complicated question and you want that to be a standard field. Well, you can do that as well. And that's how you can track everything with custom AI. So, again, even nuance judgment calls like ranking, rating, grouping into this list of five, These kinds of answers can be generated automatically and then turned into standard fields that go with the contract. Now when that answer is numerical, like you see here or categorized into, you know, one of a small series of categories like in a pull down, well, then that's, the kind of data point that displays great in a dashboard. Right? Gives you a great way to to look across all of your contracts and get those answers in a standardized format. So you're turning date questions that you have and the data that's in those contracts into structured data that can then be represented numerically or otherwise in a chart in a very standardized way. And that's really important because, again, as I mentioned before, you can have unlimited custom dashboards down to specific use cases, subgroups, or departments like you see here. And these can be shared across all the different departments of your organization. So they all have visibility into the terms that matter to them. But not all answers can display that way. For example, summarize any rebate volume discount or early payment discount in my vendor contracts. Put it into one sentence, make it short. You know, if you want, it'll do it in the voice of a pirate. It you know, it's very flexible with the generative AI can do here. That's not exactly something we train on the pirate voice. But it will create exactly the data point that you want, the kind of length that you want, etcetera. But these are summaries. These are answers to questions. These are not simple numerical statements or categories that would represent well in a dashboard. So as you look for these much more nuanced things that you wanna know about your contracts, it's creating data points that can display also in these reports, these table displays, where these become new data points. Again, just like title, contract type, counterparties, now you have that one sentence summary of exactly what you wanna know about it, and it travels with the contract as well as metadata. And those data points, like all of our data points, can be shared across just about any other enterprise solution that you want. Now seeing all of this, I hope it's becoming more and more clear why this is so valuable in the world of Workday and its solutions to manage your people and money because we can tie into all of those systems and share this information so effectively. So lots gonna come on that front in terms of how we integrate more with the Workday platform. Now I wanna call out one more special tool, based on our AI, and that is our AI drafting tools. Really, there's a couple of them, but the more critical one I wanna call out is automated redlining, as I mentioned before. This comes with the Workday contract life cycle management solution, which we'll also refer to as CLM. Workday CLM will include multiple tools to leverage our AI to help you draft and edit and negotiate your contracts more effectively than ever before. Now I mentioned I'm gonna jump to the one on the far right here. I mentioned the value that this brings to the Workday ecosystem. Here's the thing. Workday experienced this firsthand for several years before Workday acquired Evisort because Workday was a customer of Evisort and did a strong implementation of our platform and kept track of every request coming in the door, everything they needed to analyze across their contracts, and what that would cost to have done it in a more traditional way, putting bodies, reading through lots and lots of contracts, and trying to find those answers. And what they identified quarter after quarter was a 35 x return on investment. So these are the kinds of value propositions that we bring to our customers. Big cost savings in terms of time, money, outside counsel spend, and more. Much faster turnaround, and the ability to not just get those contracts processed faster and less expensively, but also to find these insights that save them real money. Like with Keller Williams, where in that first thirty days, just by pulling all of their contracts into our system, they identified contracts that they didn't realize were going to auto renew that they were no longer using. And by virtue of doing that, they got a full ROI almost immediately upon implementation of the product. And this happens pretty fast because our contract intelligence solution, we can deploy on average in twenty one days. It works at scale. We point the solution at all of your contracts, in many cases with simple click and drag sort of productized implementations with Google Drive and and SharePoint and other solutions, ingest all of those contracts, at scale without human validation at every stage needed because the those prebuilt models are so accurate and so effective. And in so doing, we can make this happen quickly and get you lots of information about your agreements that you've never had before. Now the way we've done all this is with next generation contract AI. The very first line of code for Eversource back in 2016, where it was first cooked up by some students at Harvard Law School, It was AI right from the start. It was not a CLM solution for workflow where they later plugged into OpenAI or some other, you know, third party generic solution. Rather, they started building AI from the beginning and over time implemented all of the workflow capabilities and then took advantage of what was happening with generative AI over the last few years to not only create our own contract specific large language model, but also to develop a patent pending orchestration layer that can then tap into a variety of LLMs, of large language models for generative AI. Why is that so important? Because when you just plug into one third party LLM, you're putting all of your eggs in that basket as you plan the future of how you're going to use AI and legal at your organization and for procurement and other departments. That's changing and evolving so fast that the best solution is to have an orchestration layer that can leverage the best of what's out there at any given time and intelligently manage that to give you the best possible results. Harbor, this organization that we're calling out here, it had does many of our implementations at our clients, and they've had many wonderful success stories. So it's great to see them be so unequivocal in their support, of what, they do with our platform. And since they are trusted by such a large percentage of the Fortune five hundred, we in particular appreciate their endorsement. So to wrap things up at this stage, I hope you see why what we're you know, how what this all builds up to is really our mantra, which is stop reading contracts, start driving outcomes, start knowing what's in those contracts. Stop having every answer that you need being dependent on human review of large volumes of contracts. This is where the AI can really empower individuals to have better decision making, faster responsiveness, take action, reduce risk, save money for the organization. So with that big build up, I'm gonna pass it over to Tom so we can delve into our platform, give you a demo of a lot of those features, and then we'll, pause to take questions along the way. So please keep those q and a coming in, and we'll come back, later at the end for even more questions. Tom? Perfect. Thank you very much, Hal. I will go ahead and share my screen, and we'll show you a little bit of what Hal was talking about. So I'm now seeing everyone looking at a fairly messy scanned contract, and what I'm gonna do is I'm gonna show you what happens when one contract goes into the Workday Contract Intelligence platform and what that unlocks. And just remember that as you're seeing this on one contract, we can do this on hundreds of thousands of contracts a day. So all the data that you see coming out of this document, we are able to do it for all of your contracts simultaneously, and that will give businesses something they've really never had before, which is structured data about all of your key contractual obligations at scale. And I know a bit what I'm talking about here because ten years ago, the most sophisticated technology in the world to do this was me. And so I'll highlight that. We can see this document that I just uploaded, 4.2 megabytes, is now fully processed and in our environment. Like Hal was saying, for most of our clients, they do this via integration, so they connect to their CRM, they connect to their ERP, they connect to their SharePoint and Google Drive and existing repositories, and just sync in a copy of the contracts from across that entire business. You can also just drop in one or 10 or 500 contracts if you need quick AI analysis of a set of documents that live on your desktop. But a few things have happened within a few seconds of this contract getting into the environment. The first is even though it's messy and a bad scan, that it is fully OCR and keyword searchable. So I can say, you know, do the words may one exist in this agreement? And the platform can find those even though it's handwritten, it's maybe not a clean scan, and that is just table stakes. So not only is it keyword searchable, fully OCR'd, but the AI's analyzed it to pull out key information for us. And I won't go over every single piece, but there are 60 to 70 key pieces of data that get pulled out automatically on day one with no training or lift by the end user or the client. So you're getting some very real value immediately. The example Hal gave, for example, was not just who are the parties to this agreement, but for Keller Williams, what is the effective date of our agreements? When do they expire? And you'll notice as I'm clicking through these data points, it's linking to where in the document it's pulling this from. So it's not a black box, it's not hallucinating, we're not asking you to take the AI output on faith. It is giving you an answer and linking you to a source in the text of the document so that a human being can validate it whenever you want to, but it's able to put that information together, identify the start date. The third anniversary means a three year term and give us the initial expiration date, but it's also identified that it's automatically renewing for twelve month one year terms for an indefinite number of renewals with a one hundred day renewal notice period, again, linking to all of that in the document. And so it's showing me that the upcoming expiration date is 04/30/2025, and I can set alerts on that. I can visualize that in my dashboards as I'll show in a moment. But I've got that data not just from one contract, but from hundreds of thousands of contracts that have uploaded all within a few hours. And so that data point alone was how Keller Williams was able to pay for the entire platform in the first month. They just found a set of contracts that were auto renewing that they no longer needed. And because AI drew their attention to it, they were able to very quickly make the executive decision. We don't need that contract anymore. There's a set of other information that can be very useful day one, such as what are the payment terms on this contract, make sure we're not paying any of our suppliers to earn, to more nuanced information like where do we have indemnification obligations or liability caps or anything like that, all day one available to our users immediately for some very real value as soon as you start putting documents in the system. So there's that one element of day one value. The other key part of this is that any new information you want, you can get very quickly and at scale just by asking about it. So I see this question from Kyle. Can you create custom contract summary information or the custom contract summary field is not customizable? They are completely customizable, and even more importantly, they are easily customizable. So if I want to find out something new about this contract, like who signed this contract, all I have to do is ask now. I don't have to label hundreds of samples. I don't need to bring in a team of data scientists with generative AI. I can just ask that question, and the AI will look across this contract and answer this question. And that's all there is to it. So it's able to pull that out extremely quickly and easily. The kind of assigned by Maria Vansula and Amy Sussman, and it links to where in the document that's pulling that from. Even for questions that I've just asked it off the cuff, it links to that. And it can do straight extractions, but it can also do summaries or analysis or putting things into categories. So I can ask it, locate the limitation of liability provision and assess it. Grade it as low, medium, or high based on these criteria, and then the AI is gonna go out and apply those instructions. So these are a couple simple examples, but just as food for thought, you know, I am able to get a summary or have the AI put complex information into a bucket and make it very easy for me to identify that. So it's identified as medium risk because it's 25,000, which is over 10,000 but not unlimited. And, again, it links me to the information it's based out on so that I can get that information very quickly. And this is a very key thing that I think is quite unique to Workday contract intelligence. I can ask this on one document just like that using what we call Ask AI, but the other part of the magic is I can scale this up to run it across 10,000 or a hundred thousand documents very quickly and easily. So you may see other platforms that have a chat interface like this, You know, I encourage you to test them. I'm very confident with the superior OCR and AI, you'll see better results in this platform. But the thing that you won't see anywhere else is taking the ability to ask one question on one contract and very quickly saying, turn that into a new AI model that I want you to run across all my contracts or a subset of my contracts. And that's really all there is to it is I just pick the data field I want it to populate. I tell it look at only these contracts, so it can be just services agreements or just contracts with an effective data in the last three years. And then I just give it instructions for what I want the AI to do, and it will go out and get that standardized data for me so that I can go from having this answer on one contract to having this answer on our last 20,000 contracts in an afternoon. Just to show you what that looks like as we train it. You know, here's an in progress example of that. I've targeted a few specific contracts. I've given it some specific instructions. It's not daunting. It's not, you know, learning a whole new language. It is really think of it like giving clear instructions to a junior associate, what you would tell a human if they wanted to do this task consistently across thousands of documents. And then I can just tell the AI, you got it correct, you got it incorrect. If you got it incorrect, what what's the right answer, and what did you get wrong? And it can incorporate this into the model. But so imagine how much that scales your experts now where if you need new data, 20,000 contracts, it is not getting a team of eight people to manually review those contracts for that data. It is one expert creating a model in a couple of hours, validating that it's giving you the data you want on a sample set, and then hitting launch, and boom, you're immediately collecting that data. And so now you've got data at scale, And I really can't emphasize enough how transformative this is if businesses properly understand it. You know, ten years ago when I was a practicing attorney, if a large sophisticated company wanted to know what was in 10,000 contracts, the most advanced technology available in the world was pay me $500 an hour to spend eighteen hours a day reading them and typing it into an Excel, and it means that most companies just get used to not having this information most of the time. Whereas when it is, you know, a set of data that you get day one and getting really any new data you want is as easy as asking for it, suddenly you're able to present your executives with all kinds of data that was not available for, you know, as a few teaser examples, here's a dashboard for office of the chief procurement officer, you know, not just when do we have auto renewals or manual renewals or options to renew, but the upcoming dates where we have perhaps discounts for early payment or specific types of rebates. And you can imagine just how much, you know, in savings can be realized just by claiming benefits you've already negotiated, but that may not be perfectly tracked. And you can point this at really any function just the same way. So I can ask it, you know, specific risk reduction questions that may be of interest to my CIO. You know, what data security commitments are our suppliers making to this? If we need support, how do we go about getting it? In the event of a data breach, you know, what method are we required to use, and how quickly do we have to give notice, things that it is just not possible to get that information through manual review when you need it because you need that information immediately. Even to project based use cases like m and a, a very popular one, Put in 10,000 contracts and see which of them are executed, what types of contracts, what's the value of these contracts, and what types of restrictions on assignment do we have that may impact the value of this acquisition. So whether it is day to day management or specific projects, being able to turn a question about a document into standard data across thousands or tens of thousands of documents really transforms the way businesses can operate. And I saw a question about accuracy level, and I'll answer that. Alright. Excellent. I see Steve has already answered it. The short answer is OCR is extremely accurate, over 99% of recognizing the characters, and we will give you a text quality score. So we're encountering a very difficult contract, the AI will let us know that it's having a hard time reading or identifying the text in this one. And for our pretrained models, Steve's exactly right, we don't release them to general availability unless they score above 95% accuracy in out of sample testing. So you can expect very accurate day one models. And then when you're training your own models, you're able to control that completely because you're able to see how it's doing on a sample set and give it feedback to get it to the accuracy level you want before you publish it. And, crucially, of course, can't say this enough, all this data links back to the source in the document. So you're not being asked to take it on faith. You know, maybe it's a commercial data point, and 98, 90 eight, nine percent accuracy is perfect because you're definitely not gonna pay a human to review it. You can use the AI and go from there without any human in the loop. Maybe it's a regulatory requirement, and you need to be absolutely certain it is 100% accurate to every point. You know, every study shows AI plus humans is much more accurate than humans alone, so you can have the AI gather the data. But maybe if it's something particularly consequential you'll be reporting to a government agency, you can just have a human come in and with one click validate that that data point's correct, and you've still taken out 95% plus of the manual effort of that review project. So long would it answer, but hopefully the key takeaway is highly accurate but also very easy to validate so that wherever you need to, a human can validate that the AI is giving you the correct data, in that use case. So that is the Workday contract intelligence module. It is, you know, essentially a tool for telling you at scale everything that would be valuable to your organization to know about your existing contracts. I'll ask the team here any questions in the chat that have come up that I should bubble up or make sure to address here. Otherwise, I will move us into the contract creation part of the platform, being able to create new contracts at scale and even use some of this AI to help us negotiate them and help us make sure that we're staying within the bounds. Tom, let me jump in with one. We've had a couple of questions related to the kinds of documents that you can bring in. I'd mentioned invoices, POs, SOWs, but we've had a question about employee documents. I think that would probably touch on things like policy documents, etcetera. So what else do you wanna share about the range of documents you can bring into the system? Yes. Absolutely. So I would say it's, incredibly, incredibly flexible now. So, you know, you can do PDFs, Word documents, JPEGs, TIFFs, PNGs, you know, all kinds of image files. We can do, you know, policy manuals, or I'll even sort of give you an example that I've used just, some out of bounds examples, but, you know, absolutely do invoices as well and pull out dollar amounts and tax amounts and all that. But you're able to really put any document into this platform. We will OCR it, convert it to searchable text, and then you'll see a lot of that day one out of the box AI light up more on, you know, things that are more like standard contracts. So I put in, you know, a driver's license, for example. I probably won't get much from our out of the box AI there, but I can very quickly teach the AI to get any information I want out of it. So here, for example, you know, just kind of on a, you know, very specific project, I went online, I pulled some public sample driver's licenses, and I just trained a few AI models to get data out of driver's licenses. You can see here, you know, the AI is able to do that as well. Right? Pull the name, pull the ID number, pull the expiration date of it. Again, linking to all of it, even identifying if someone is an organ donor, you know, because they've got this little donor icon here. So the AI is now able to do a very good job, you know, whether that is summarizing a policy document or, you know, putting in a license or an insurance certificate or something else. You're able very quickly to teach the AI to get the information you want out of it so that your team has that data at scale. How did that address the question? I think it did. I'll throw in also and you may have mentioned, we work with a lot of health care organizations that have to do HRSA audits, and physicians' credentials are important to them because they need to be able to show that everything is current. So we have some customers that have brought those and physicians' licenses so that they, oh, you've got an example of it. So, yeah, there there's quite a range. Naturally, just to manage expectations, the pretraining of our models and the the all the additional work that we've done to optimize results, much more geared toward legal agreements. So we don't automatically have all of these fields for, you know, for for every kind of document you could think of. But, yeah, we have a lot of customers that have been, I think, pleasantly surprised with the range of documents they could bring in and the additional value they can get. Exactly. And you're really oh, sorry. Please go ahead. Well, we've got a number of other questions that have come in, but I wanna let you finish the demo. I think you're gonna move on to this, but be sure to call out a comparison of two different versions of an agreement. Perfect. Absolutely. So I will now jump into the contract creation part of the document or part of the platform that is under workflow, and I'll mention just briefly. I'll focus on the core contract creation capabilities. There's a lot of process control information as well where as an individual user, I can see all the contracts where I personally own the next step, and I can make sure I manage them. So it's also keeping me on top of my own workload, but I can create new contracts very quickly and easily just by requesting them through the platform. So I select new ticket, I select the type of contract that I would like, and you can via API, you know, put this intake form in other platforms like Salesforce or put a link to it on a company intranet page. You can just have a button that says, I need a supplier agreement, I need an NDA, and it will jump you right to the appropriate intake form. And depending on your use case, you can submit documents from a third party, will come up a lot in supplier paper, or you can generate it on your template, and the platform will automatically generate a compliant first draft based on the information in this intake form. So I'll say effective date of tomorrow. When I hit create ticket, two things are gonna happen automatically. The platform is going to create a brand new contract, you know, basically, not just pulling up the relevant template, but populating that template, you know, saving an hour or more of manual drafting time, because now it's been automatically created and populated for me. And you can see in here the yellow highlights sort of indicate where text has been changed, but it is highly configurable. It can, you know, add in a date or a name, or it can include or exclude entire clauses or swaths of the section, include or exclude exhibits or, other parts of the contract. But it's highly configurable, and so all my end user has to do is enter that information in the intake form, and it automatically creates a contract that reflects those terms. And based on the information in that intake form, it's also automatically routed it for review by the right people in the right order. So for simplicity, all these review steps go to me. But, you know, as an end user, I would request a contract, and I'd be able to see it's automatically getting routed to the right people for approval. They can approve or reject in the platform and leave notes, leave an audit trail of why they gave that approval or rejection. And as it proceeds to each user, they get an email notifying them that their attention is now needed on this contract so that they can take the relevant action. So a couple very powerful process control tools as well to help you manage these agreements. But then the next thing I think is where it gets really powerful is there's AI to help you make sure these are staying within the rails as you negotiate them. So I'll highlight a few features here, but we've got our AI clause identification. It's the same engine essentially that you saw on the other set of contracts. The AI is going to identify the key clauses in this agreement, and so now I'm not worried about my human reviewer missing a key clause that we care about because the AI has identified it for them and with one click can jump them right to it. So I'm getting a lot of value already in terms of reduced review time, improved consistency of the reviews that we do. But it gets even more impressive from there where I'm able now to have the AI answer any questions for me using that same ask AI feature that we saw at the outset. So I can ask freehand questions on this document, or I can save and share questions. So I can have a set of saved questions that are, hey. These are my supplier compliance review questions, and I can run them all with one click. And just like that, you know, I've asked it, do the payment terms match our thirty day standard payment terms? It will look at this document and very quickly give me an answer, you know, just by asking the question in plain language, whatever's in this document in front of me, you know, no. It does not. These payment terms are sixty days. As always, here's a link to that text so that you're not taking it on faith. You know, does the agreement allow the customer to terminate if the other party becomes bankrupt? Anything you wanna ask or anything you wanna make sure that your team is asking every time they get one of these contracts, they can run a set of these questions with one click. And, you know, imagine how useful that is on one document. The AI can review it alongside your human employee. But imagine over 5,000 or 10,000 contracts in a year, how much more of the time you're going to get your preferred terms when you have the AI working alongside your team, helping catch where something is outside of the boundaries or not an acceptable term. Or maybe it just contains a risky term that doesn't come up much but we always wanna be on the lookout for, that can all be automated, and good questions can be saved and shared with other users. Finally, the last piece of this is, I'll open it up for editing, that the AI can even tell you what should be in it. So as an example here, if I jump to my indemnification clause, AI has identified this clause for me. I can select this text and then use my AI drafting tools, And I can say, hey. Apply my saved guidance for indemnification clauses. I got preferred, fallback, etcetera. But the guidance is not the exact words of my standard clause, but what needs to be true for it to be acceptable. And so I won't show you every little editing feature in the platform here. There is a full suite of in platform text editors. There is the ability with one click to insert the text out of your standard clause library if you want to do a rip and replace. But really what makes this the next step is the AI has taken the instructions that we've given it, and it's applied it to whatever clause we select in that agreement. So it doesn't matter that it's seeing a contract for the first time. It can apply our guidance to that. And you'll notice, you know, it gave me a suggestion, and I hit accept. So the AI is not yet drafting it without any human oversight. There's still a human saying, yes. Put that in the contract. But the time to do that is now drastically accelerated. And with one click, I've now got a modified version of this clause that meets my requirements. You know, we don't cover affiliates. The standard is now gross negligence rather than negligence, etcetera. It's made targeted revisions in the right places and hasn't changed things unnecessarily so that I'm now able to very quickly have the AI tell me what should we change in this contract to make it compliant with our guidance. And, again, you know, useful on one contract as you apply that on a thousand or 5,000 or 10,000 contracts in a year, can you imagine how much more compliant your agreements are overall? And then the last thing, Hal, to your point, you'd asked about the ability to compare any changes or do any of that type of editing. So I will go ahead here, and I will just accept all these changes so they don't even show as track changes. So now we've got a clean looking document. In addition to AI to help me find substantively where do things not meet our requirements or suggest AI guided red lines, I can also just always compare any two versions of the document. So I can, you know, take this version two and compare it to version one, take the tenth version I received from a counterparty and compare it to our original version, but the AI is able to, whether or not track changes are on, identify the differences between those two versions of the document and flag them for me so that even though, you know, these were no longer showing as track changes, all those changes are identified just by asking it to compare two versions of the agreement. So it's kind of all those standard tools you'd expect, you know, good old fashioned version compare, in platform editing tools, the ability to paste in from your clause library, but it's also a suite of very powerful AI tools to guide human attention to key clauses and to ask questions about, does this comply with x requirement and to suggest revisions to that agreement so that we can very quickly produce a counterparty friendly red line and hopefully get the whole negotiation completed faster. So I'll bring it to a close pretty quickly now. Once that's completed, I can, of course, give my approvals. Those are tracked, saved for later auditing, and send it out for signature via our integration with esignature platforms. The last thing is there's a wealth of data on the process as well so that my managers now have data to make sure, are we actually getting contracts done more efficiently? I can see at a glance, these are all the open requests, and I can filter by different types of agreement or which department submitted it. And I can see when it was originally submitted, when it was last modified, and who it's assigned to. So now I can spot bottlenecks at a glance just with data that the system's automatically extracting. And, you know, Rick can realize that maybe Tom's being a bit slow here and jump into just the agreements assigned to Tom, just the agreements that were, you know, shamefully submitted in 2023. And I can see a list of those and start reassigning them to someone who's maybe a little bit more reliable than Tom, who has been slacking. So I'm able to control the process end to end. And, of course, just as a recap, I'm also, as each of those contracts is signed, getting that data on what we've actually agreed to. So in a very neat way, I'm able to get contracts done faster and more organized, but also get hard data to show that as we use this platform, we are demonstrably getting contracts done better. We're getting our preferred terms more of the time. We're avoiding risky terms more of the time. And if I wanted to, you know, I can filter this by effective date. I can say one year after my Workday CI investment. I can compare the data, you know, for contracts that are before and after the previous year and see two very different pictures of what our contracts look like over time. So it's a very powerful way to know what's in your contracts, manage them responsibly with data, to accelerate new contracts, but also just to get data to prove that this platform is working, to prove that you are able to complete contracts faster and complete contracts better. So I will shut up now. I'll turn it back to Hal. Thank you very much for your time and attention. Well, Tom, don't go anywhere because we got a bunch of questions to answer. And I thought I think before we leave the platform, I do have a couple of slides I wanna show because they'll help answer some of the questions that have been piling up. But first, while you still have that open, why don't we take a quick look at, custom user roles, data privacy, data security controls? We've had a number of questions about with all these different kinds of agreements you're pulling in, how granular can you get in terms of access to those documents? Make sure, for example, that certain teams, of course, are not seeing sensitive HR documents and such. It's a very good question. And so the answer is, you know, more granular than you'd wanna talk about on this webinar. There are very clear, very powerful user controls in this platform, and the big two are the user role. So based on a user's role, I can give them access to different features, and that is incredibly specific and incredibly tailorable. So I can create a role of whatever I'd like and essentially pick from a menu of what features I want this user to have. So I can have users who can set up integrations and manage SSO but can't see any documents on the tech team. I can have users who can negotiate contracts in flight but can't change the rules for how a contract is guided and negotiated. And I can, of course, restrict the ability to train the AI to just specific users who I want to have that ability. You know, it is truly just picking from a menu what capabilities you want users to have. We even have a client who kind of specifically requested, hey. Our managers are going in and messing up the groups that we've already set up. Can you, you know, let them still have the ability to see the groups, but take away their ability to change who's in these groups because it's really messing with the workflow that we've got set up. And we're able to do that with one click and sort of, you know, take out a little bit of the control that the managers have because they were getting in the way of the work some of the employees were trying to do. The other part of that is at the file folder level, we've got access permissions. These are also very simple, very intuitive. But, basically, for each folder and subfolder, I'm able to set very specifically who can view this view the documents in this folder, who can view and edit the documents in this folder, and who can download them. So for example, you know, if I select this, I can also give you the ability to download, and I can do that at the individual user level, or I can do that for teams and groups of users. So I can say, hey. Only legal or only HR gets access to this folder and all subsequent folders. So you can have your HR contracts and your supplier contracts and maybe even, you know, your m and a diligence review contracts all in the same environment, but have these permissions set up so that, you know, only the HR team can see the HR contracts, and only the supplier team can see the procurement contracts, and only the deal team can see the m and a contracts. And if you don't have permission to view a contract, it is as though it does not exist for you. It will not appear in any search results. You won't see data from those contracts in your dashboards. You are just you know, you don't even know that contract exists. And, again, very simple, clear, easy to manage. You just determine at the folder level who you know, which individual or which teams can get access to this set of documents. So hopefully, that answered the question. That was great, Tom. Thanks. Let's take it back to the slides for a couple more minutes here to, highlight a bit about where we're going integration wise within Workday and a couple of other details that will answer some of the other questions here. And, while we're and I'm not seeing the option. There we go. We're new to this particular pod this particular webinar platform, so bear with me while I figure out where all the buttons are. Couple of things to call out about this platform that I think will be valuable. We've had a number of questions about accuracy, ingestion of contracts, kinds of contracts, language support, etcetera. So a few things to call out here. This is our AI native platform. As I've mentioned, it was AI from the first line of code. So AI was not an afterthought or something that was just plugged in from a third party. We have our own proprietary LLM trained for contracts, but we also have access to multiple other LLMs. And we are always through our orchestration layer able to run tests automatically, optimize results, and leverage the best tool for the job. And that's important because with things changing so fast in the AI world, you wanna know that the platform you invest in can always be evolving and leveraging the best technology out there. And that's precisely what we've developed. In terms of security and access, you've already seen a bit about how we control that within the product. We are to date, as far as we are aware, and we've looked at this pretty carefully, the only ISO 42,001 certified AI management system, within our space, within the CLM space. In fact, we were one of the first companies in the world of any kind to achieve that certification when it was introduced last year after a thorough audit and analysis. Net augments our existing ISO twenty seven seven zero one and twenty seven zero zero one certifications as well as SOC two type two. We take security very seriously, and we need to because while I didn't pull up a slide with a list of our hundreds of customers, suffice to say we support some of the the largest global banks that you can think of, financial institutions, tech companies. We have had recent webinars and upcoming webinars with Intel, NetApp, Microsoft. So you get a sense of of, you know, the kinds of protocols we needed to put in place in order to support this kind of client base. And in terms of the ingestion of those contracts, accuracy, etcetera, something to consider here, We can ingest up to 450,000 contracts per day, and that's why we're able to deploy contract intelligence so quickly. We'll recognize over 250 contract types and over a 50 languages, though the AI support on all of those languages varies. So that's a little more nuanced question, but we can ingest the contracts with a wide range of languages and correctly identify those languages and even enable full text search for many of them at a minimum. We can clean up handwriting, tables, poor scans, and this is part of why we're able to get that high degree of accuracy because the data that's feeding the AI is cleansed in such an intelligent way. And, then finally at the top, what you see there is the custom AI modeling, big differentiator in terms of how much control you get on that front. Thomas covered that thoroughly, so I'll move on. Let me call out a little bit about our first phase of integration within Workday, and it is just our first phase. There's a lot being planned. But the most natural, the quickest integration, and we will see that this year according to expectations as you see on the bottom right, is an integration with Workday strategic sourcing and Workday procurement so that you'll be able to get the ticket started from strategic sourcing with a particular provider, have that contract created, negotiated, etcetera with our CLM solution, and then have that feed into the procurement solution. And this is very valuable even from my narrow Evisort perspective, if you will. What we love about it above and beyond, what, you know, what Workday gets in terms of this additional functionality is the benefit of that supplier three sixty view and then being able to plug that directly into an automated supplier contract. So we are thrilled to be able to plug this into a broader ecosystem because contracts don't live in a vacuum, and they really shouldn't. And in most organizations, they do. So, again, this is just the first phase of many integrations, and the Evasort technology is being plugged into quite a lot across the Workday ecosystem. We'll continue to wrap up on questions these next few minutes, but let me just call something out for anyone that is interested in learning more from how customers in legal procurement and the, office of the CHRO, are already using this technology across major organizations. We have a podcast where we're routinely interviewing our customers and other thought leaders in the space, And we hope that you'll find this valuable. You can search for Evisort anywhere you get your podcast, or you can use that QR code and subscribe and you'll, and you'll always get our monthly episodes. Hope you find them valuable. Okay. We have still a few questions pending, so let's use our remaining time here to go through those. We did have, oh, we had a question about whether this was available on prem, or just cloud based. The answer is cloud based. This is a cloud based solution and is not available on prem. We had a question about creating a clause library. Tom, I'd I'm I was so distracted as you were demoing answering other questions, I may have missed it. Do you wanna talk for a moment about how you would create a clause library in the system? Yes. I, was actually just typing in the answer, but the basic idea is there's two elements to that. One is because the AI is gonna automatically identify key clauses as soon as you put the documents in, you already got a living clause library where I can say, you know, just like that, hey. I wanna see all of my indemnification provisions, but I wanna see just the ones for services agreements with New York Governing Law and then organize them by effective date so that I can see, you know, just in a in a list, here's all the indemnification provisions we've agreed to over the last year or however long we wanna look. And then the other part is users can add preferred versions of clauses to the clause library in Evisort, and that means as you're negotiating new contracts, you can paste in the clause from that clause library, or you can use saved guidance in that clause library to give instructions to the AI to suggest revisions to key terms. So a bit of a long winded answer, but basically living clause library because the AI identifies all your key clauses, and a user maintained clause library that you can use to aid in the redlining and reviewing process as you negotiate new contracts. There is another question here, and it's one of those questions I'd love to get. Is there a limit on the number of documents that can be stored? I love when someone asks, you know, can I push this to the upper boundaries of what it can do? That's I mean, those are those are the best. And the the answer is there's no functional limit to the, number of documents. We have customers with very high ranges of documents. And now that we're part of Workday, we can take that, you know, you know, quite a bit further with Workday capabilities. So I think we have a pretty positive answer on that one. We had a question about, we mentioned DocuSign early on, so I think there was a question about how much of this functionality was coming from DocuSign. DocuSign is part of our system only in that we integrate with it for esignature as we also do with Adobe Sign. Otherwise, no no connection to DocuSign other than some of us, including myself, worked at DocuSign over over the years in in our organization. They're a good partner, but, nope, we're not leveraging anything other than esignature for that. Anything else? I'm looking through to see any others that we don't feel like we quite covered. I think we've talked plenty about the different kinds of documents you can bring into the system. Oh, there was one. This is this sounds like a softball. But there was a question about how will there be more webinars like this as we get deeper into the integrations and showing really the full workflow with strategic sourcing procurement. Absolutely. Please stay tuned. We will be very happy to do a great deal more of that. I'm gonna a few more have come in. A couple around costs. Is the cost structured per document, and where can we find add on cost associated with this? So let me address it this way. Generally speaking, our pricing, yeah, is a function of the number of documents that you bring in as opposed to, for example, the number of users in the system. And that's important to know because we have some customers that have shared, access to the platform with literally thousands of users. We keep that very open, not user based pricing, so that they can all benefit from those dashboards and and all the other capabilities that are useful for them just to have access to the information across their contracts. So, yeah, generally speaking, that is the nature of the cost. Add on costs, it's pretty straightforward. There are not many line items where you will find some add ons or things like this. If you, you get a certain number of, of custom AI models as part of the standard implementation, When you want to keep, customizing further, then you would pay, by buying those additional models in packs of 10. So there is an additional cost if you customize more extensively because you're getting a great deal of value for that as well and doing using a lot more computing power in doing so. Not too many others, very very straightforward pricing and where you can find information about that would be to talk to your Workday representative. As of literally today, we are part of the full, you know, Workday system with working SKUs and all of that so they have even better access than before to all of that information. And I think with that, we are just about out of time, and I think we've addressed just about everything. One last one. Will this be they keep coming in. Will there be preferred implementation partners to date? One of our, as I mentioned earlier, Harbor Labs has been a great implementer of, many of our implementations as has Evisort itself. That's how most of them have been done, but we do have a broader partner ecosystem, and we have every intention already of scaling up, the availability there. So if there's a particular partner you wanna work with, that is very likely possible. And will this be available as a separate SKU? Yes. These are two SKUs, in fact. One for Workday contract intelligence, one for Workday contract life cycle management, which fully includes contract intelligence. And the many questions about is this recorded and will it be shared? Yes. It has been recorded. This will be shared, and we will have many more of these. Thank you, Tom, and thank you everyone else for all of your attention, your questions, and your time. We really appreciate and hope to talk to you more soon. Thanks, all.