Learn how Smart Data Capture utilizes AI to swiftly extract contract metadata fields and get concise summaries with justifications.

What is Smart Data Capture?

Smart Data Capture, powered by SpotDraft AI, simplifies the process of extracting key data (metadata) from your contracts. It uses advanced large language models (LLMs) and OCR technology for automated data analysis and extraction. This feature streamlines the extraction process and enhances the searchability of your documents, making it easier to manage executed contracts and other documents within your workflow.

Smart Data Capture displays these suggested metadata fields along with a clear explanation, making it easy to review. You have the option to either accept the recommendation or manually add a relevant metadata field after verifying its accuracy.

Upload an executed contract and extract Metadata with Smart Data Capture

To extract metadata from your externally executed contracts with Smart Data Capture, follow these steps:

1. Hover on the “New” button in the left sidebar inside SpotDraft
2. Choose 'Import Executed Contracts' from the options that appear

3. Select 'Smart Import' to upload contracts with Smart Data Capture. SpotDraft AI will automatically scan and extract metadata when you choose Smart Import.

4. You can upload up to 200 contracts at once for bulk extraction. You can also upload a single contract or drag and drop PDF files to proceed. Select the relevant contract types and hit next to begin extraction.

Note: Each successful extraction (whether bulk or individual) consumes one SpotDraft credit.

Accessing Extracted Metadata

1. Return to your SpotDraft repository and open the recently uploaded contract.
2. You'll find the extracted metadata on the bottom left of the 'Summary' screen in the “Contract Metadata” card. Alternatively, go to the 'Metadata' section on the Contract view page to view it.

Extracting Metadata from Contracts at Any Stage

To extract metadata from contracts at any stage of the life cycle (executed, redlining, or signing), follow these steps:

1. Go to your SpotDraft repository
2. Choose any contract you want extracted, regardless of its stage and click into it
3. Click on “View Contract” to go into the contract view mode

4. In the Contract view, switch to the 'Metadata' tab

5. 'Extract Data' to extract critical data using SpotDraft AI

Editing Extracted Metadata

You can modify metadata values manually by going to the metadata section in the contract view tab.

Verifying Extracted Metadata

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

The 'Verify All' feature simplifies this process.

1. Open the extracted contract and switch to the 'View Contract' section.
2. Open the Metadata tab extracted metadata.
3. Click on the 'Verify All' button to validate all extracted metadata.

Alternatively, you can manually verify the extracted metadata one at a time as well.

How to Edit Metadata Descriptions Manually

Metadata descriptions help the AI identify the information that needs to be extracted from a contract. Think of this as an instruction given to a first-year associate to help them extract key data. The better the description, the more accurate the extracted data.

To edit the metadata descriptions manually, follow these steps:

1. Hover on the “Manage” button in the navigation bar on the left and select “Contract Metadata” from the list of options that appear

2. Choose the type of contract you want to edit metadata descriptions for.

3. Click on the three dot menu on the relevant field and click 'Edit Field to edit the metadata description.

4. Add your own description in the provided box. Alternatively, you can ask SpotDraft AI to generate a description. Hit Save to save the description

Some tips on writing descriptions

1. Be descriptive and write at least 1-2 sentences. Avoid writing short one/two-word descriptions and if there is a specific outcome you want to capture in the metadata, describe it in detail.
2. Use examples wherever possible. This helps the AI understand what you require
3. If there is a certain format you want the answer in, describe it for the AI
4. For dropdowns, and multi dropdowns, you can describe each option in detail in the description
5. If there is additional information that may be required for the AI to get the answer, add that in the description. For example, for “Contact person email”, if the email address is always a certain domain, write that in the description.

Types of Metadata Properties

SpotDraft AI detects 1,000+ metadata properties out-of-the-box. 

Types of Metadata fields that can be extracted

Frequently Asked Questions

#1 Which template contracts are excluded from Bulk Smart Data Capture?

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