Core Insights - Workday's research reveals that 76% of employees lack clarity on contract ownership, leading to lost revenue and missed opportunities [2][4] - The report emphasizes the importance of contract intelligence in transforming contracts from static documents into strategic assets that drive business growth [3][4] Key Findings - A significant portion of employees (50% of legal and 49% of enterprise employees) report financial losses due to unintended auto-renewals, with sales and marketing departments being the most affected (60%) [4] - There is a disconnect between legal teams and other employees regarding contract approvals, with an 18% discrepancy indicating potential risks from bypassing legal processes [4] - Contracts are often fragmented across various systems, with 70% of legal and 50% of non-legal contracts stored in shared drives, which hinders holistic visibility and opportunity identification [4] - Over 41% of respondents believe that slow contract processes stifle innovation and productivity, particularly affecting departments like R&D and engineering (79%) [4]