Create Contracts Using AI Extract™

This article walks you through the steps of contract record creation using the AI Extract™ feature.

  Restore Visibility

  Estimated Read Time: 5 minutes

Sections in this article:

• What is AI Extract™?
• Which fields can be extracted using AI Extract?
• Upload a Document to AI Extract™
  • Cancel or Save a Draft
• AI Extract Troubleshooting
• Use AI Extract within Workflows 

To learn about AI Extract, click through the demonstration or read the steps below:

What is AI Extract™?

The AI Extract feature is available within all plans, and creates new contract records by automatically extracting the key metadata from contract documents. From the AI Extract area, you can upload files and track the progress. Each file will move through three stages:

1. Processing - It will take a few minutes for the system to receive the document, capture the plain text, and then analyse all content to extract key metadata items.
2. Ready for review - You can review the uploaded document side-by-side with the extracted metadata, and confirm or update the extracted details.
3. Completed - The system will automatically create a Contract record using the extracted metadata, and the file will automatically be set as the master file for your chosen record.

Which fields can be extracted using AI Extract?

The AI extract feature can extract the following fields from the core data model: 

• Contract Name
• Vendor Name
• Currency
• Annual Value
• Contract Type
• Category
• Entity
• Contract Dates

Additionally, custom fields that you have configured can be extracted. See AI Extract - Custom Data Extraction for further details.

Upload a Document to AI Extract™

To create a contract with AI Extract™:

1. From the navigation menu, click AI Extract.
2. Drag and drop a file into the Upload File area, or click Browse to select files from your device. You can add up to 10 files at once if required.
3. Click Extract Files to confirm.
4. Once the file has been processed, review the extracted data on the left-hand side of the screen.
   1. If you navigated away from the screen while the file was processing, click on the card in the Ready to Review column to open it.
5. Update the core data fields as required, and ensure you have completed any mandatory fields that haven't been extracted.
   1. An optional viewing sidebar tray can be shown to help quickly navigate multiple page documents by clicking within the preview pane and then pressing F4 on your keyboard.
   2. Expand the Owners and RAG Status sections to complete the fields as required.
      
6. Click Create Contract once you have reviewed the details.

The system will automatically navigate to the newly created contract record within the repository. The contract document will also be directly attached to the record and assigned as the Master Record,  available from the Files tab. 

The card will remain in the Completed stage, ensuring you have a record of all files that have gone through the AI Extract process.

Cancel or Save a Draft

When the file is in the at the Ready to Review stage, you'll have the option to:

• Click Cancel, which discards any changes you have made and leaves the file in the Ready to Review stage.
• Click Save as Draft, which saves your changes to come back to later by clicking the card in the Ready for Review stage.

AI Extract Troubleshooting

If a file fails to process once uploaded to AI Extract,  you will receive a notification email with more information and a status link.

Clicking the link provided will open a new tab with a summary inside Gatekeeper. For example, a file may be too large to process if the plain text file size exceeds 102400 bytes.

Use AI Extract within Workflows 

You can use AI extract when creating a card in workflows. To learn more, see AI Extract in Workflows.

If you require further assistance, please reach out to your Customer Success Manager or engage our Global Support Team.