If by "CDS" you mean CMS, a Sun CMS call management system, then yes there are things to watch out for. If the CMS and the switch time is more than 5 minutes out of sync the CMS link will drop. Make sure you coordinate the time settings between both. The BCMS and CDR, if this is what you meant by CDS will not be affected. There is a possibility that CDR records could be reflect multiple calls being made from a station at the same time you performed the time change. Just be aware of it a all else should be fine. Also I do not know what version switch you have by I HIGHLY suggest you make sure the setting on "change system features" has the feature set to" "y" that syncs the switch time to the telephone set time.
Chris