Smart Data Capture, powered by SpotDraft AI, simplifies the process of extracting key data from your contracts. It utilizes advanced large language model (LLM) and OCR technology for automated data analysis and extraction.

This feature not only streamlines the extraction process but also enhances the searchability of your documents, making it easier to manage executed contracts and other documents within your workflow.

To extract key pointers from your contracts with Smart Data Capture, follow these steps -

Step 1

Access your SpotDraft dashboard and click on the 'New Workflow' button.

Step 2

Select 'Import Executed Contracts' to upload your desired contract from your computer.

Step 3

Opt for 'Smart Import' to enable Smart Data Capture and proceed.

SpotDraft AI will automatically scan and extract key pointers when you choose Smart Import.

Step 4

Upload an executed contract from your computer, or drag and drop PDF files to proceed.

Step 5

Select the contract type from the dropdown and click on ‘Upload’.

To extract key pointers from contracts at any stage of the lifecycle, follow these steps -

Step 1

Go to your SpotDraft dashboard and select a contract from any stage, such as executed, redlining, or awaiting signature.

Step 2

Go to the ‘Key Pointers’ tab of the Contract view and click ‘Extract Data’ to extract critical data using SpotDraft AI.

Smart Data Capture not only extracts key pointers but also provides AI-based suggestions.

Follow these steps to incorporate them into your contract -

Step 1

Open the uploaded contract and switch to the 'Contract' section.

Step 2

Open the ‘Key Pointers’ section on the tooltip strip to view the extracted key pointers.

Step 3

Click on an extracted key pointer and choose 'Smart Finder Recommendations.'

Step 4

To add the AI-suggested key pointer directly to the contract, click the (✅) symbol. This places the key pointer in the corresponding contract section.

Step 5

Alternatively, you can add your own key pointer by clicking on ‘Create Key Pointer’ and saving it. You can also ask SpotDraft AI to generate descriptions for the newly added key pointer.

SpotDraft supports any contract type, including employment agreements, non-disclosure agreements (NDA), service-level agreements (SLA), partnership agreements, void contracts, and more.

While SpotDraft AI provides accurate key pointers, it's essential to verify them for accuracy. Verification ensures accurate reports and search results without errors.

The 'Verify All' feature simplifies this process -

Step 1

Open the uploaded contract and switch to the 'Contract' section.

Step 2

Open the Key Pointers section on the tooltip strip to view the extracted key pointers.

Step 3

Click on the 'Verify All' button to validate all extracted key pointers. Alternatively, you can manually verify the extracted key pointers as well.

Smart Data Capture uses SpotDraft AI to carefully analyze the contents of your contracts and provide accurate recommendations to eliminate errors.

SpotDraft AI utilizes advanced large language models (LLMs) to extract important information from your uploaded contracts, ensuring the highest quality recommendations.

Smart Finder Recommendations displays these suggested key pointers along with the contract reference and a clear explanation, making it easy to review.

You have the option to either accept the recommendation or manually add a relevant key pointer after verifying its accuracy.

AI-metadata descriptions in contracts involve the application of artificial intelligence (AI) and machine learning technologies to automatically generate or extract metadata from contract content.

This metadata offers a structured representation of the contract's content, simplifying tasks such as management, search, analysis, and retrieval of contract data.

Here are key aspects of AI-metadata descriptions in contracts -

To edit the key pointer descriptions manually, follow these steps -

SpotDraft AI detects 1,000+ properties, the out-of-the-box. The two different property types are -

Examples of contract fields include names, addresses, dates, monetary amounts, product descriptions, and any other variable information specific to a particular contract.

Common types of clauses include indemnification clauses, confidentiality clauses, termination clauses, dispute resolution clauses, and governing law clauses.

The Smart Data Capture can identify over 1,000 metadata key pointers. The table above showcases just the fundamental set of these key pointers.

Bulk Smart Data Capture does not support Clickthrough, void, on hold, and non-executed template contracts. However, you can manually add information to these excluded contracts from the key pointers panel.