Workday Acquires AI-Powered Document Platform Evisort

Evisort's AI Capabilities Enhance Workday's Procurement Suite

Automating Contract Analysis and Management

Workday, a leading provider of cloud-based enterprise software, has acquired Evisort, an AI-powered document platform. The acquisition further strengthens Workday's procurement suite, automating contract analysis and management to improve efficiency and reduce costs.

Evisort's AI technology uses machine learning to analyze contracts, extract key data, and identify potential risks and opportunities. This enables businesses to streamline their procurement processes, reduce manual workload, and make more informed decisions.

Streamlined Procurement Processes

The integration of Evisort's capabilities will allow Workday customers to automate various procurement tasks, including:

• Contract analysis and review
• Risk and compliance management
• Supplier onboarding and management
• Invoice processing

Improved Efficiency and Cost Savings

By automating these tasks, businesses can significantly reduce the time and effort spent on manual data entry and analysis. This leads to increased efficiency, improved accuracy, and reduced costs associated with procurement.

Enhanced Decision-Making

Evisort's AI capabilities provide businesses with valuable insights into their contracts and supplier relationships. This information enables procurement teams to make more informed decisions, optimize their spend, and mitigate risks.

Customer Benefits

The acquisition of Evisort brings numerous benefits to Workday customers, including:

• Reduced procurement costs
• Improved compliance and risk management
• Increased efficiency and productivity
• Enhanced decision-making capabilities

Conclusion

Workday's acquisition of Evisort represents a significant step forward in the automation of procurement processes. By leveraging Evisort's AI capabilities, Workday customers can streamline their operations, reduce costs, and gain a competitive advantage.