Case Study: Western Union cuts contract execution time and outside counsel spend with Workday Contract Lifecycle Management

Western Union cuts contract execution time by 65% with Workday

Western Union, a multinational financial services company, faced challenges with its contract review process, including a lack of visibility into global supplier contracts and inefficient systems that caused delays and increased costs. To address this, they partnered with vendor Workday to implement its Contract Lifecycle Management service, powered by AI, aiming to centralize contracts and improve efficiency.

Workday's solution provided a modern CLM platform integrated with Western Union's existing systems. This allowed them to use AI-powered templates and playbooks, which drastically improved the contract process. As a result, Western Union reduced its average contract execution time by 65%, increased its contract volume by 40% year-over-year, and cut its spend on outsourced legal counsel by over 70%, achieving significant savings and operational improvements.

Western Union