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Create Contracts Using Extract

This article covers how to create new contract records by automatically extracting key metadata from documents using Gatekeeper AI. 

  Estimated Read Time: 5 minutes

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Note: An administrator must enable Data Extraction and configure the default values before Extract is available to users.

What is Extract?

Extract uses Gatekeeper AI to create new contract records by automatically extracting the key metadata from a contract document. Users with the Administrator role can use the Extract area to upload files and track the progress. Each file move sthrough three stages:

  1. Processing: It will take a few minutes to receive the document, capture the plain text, then analyse the content to extract key metadata values.

  2. Ready for review: Gatekeeper automatically creates a contract record using the extracted metadata, and applies default values if any fields are unavailable. The file is automatically set as the master record. You can then review the uploaded document side-by-side with the extracted metadata, and confirm or update the extracted details.

  3. Completed: Gatekeeper updates the contract record with any changes you made during review, and the file moves into the Completed column. 

Note: If the contract is from a vendor that doesn't exist in Gatekeeper, a new vendor record is created automatically.

  • If the vendor already exists, the contract is automatically associated with it.
  • If a vendor with a variation of the name already exists (for example, if Gatekeeper AI extracts the value Ernst & Young while the existing vendor name is Ernst and Young), Gatekeeper links the contract to that vendor rather than creating a new record.

Which Fields Can Be Extracted?

Gatekeeper AI 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 within a group can be extracted. See Custom Data Extraction for further details.

Create a Contract with Extract

Note: The file size must be less than 50MB.

To create a contract with Extract:

  1. From the navigation menu, click 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 100 files at once.
    extract a contract
  3. Click Extract Files to confirm. If you navigate away from the screen while the file is processing, click on the card in the Ready to Review column to open it.
  4. Once the file has been processed, review the extracted data on the left-hand side of the screen, and update the metadata fields as required. 
    review extract values
    1. To quickly navigate multiple-page documents, click within the preview pane and then press F4 on your keyboard.
    2. Expand the Owners and RAG Status sections to complete the fields as required.
  5. Click Update Contract once you have reviewed the details.

Note: You cannot add relationships from this view. 

Gatekeeper then automatically navigates to the contract record. The uploaded file is directly attached to the record and assigned as the master record.

lumin extract - files tab

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

Troubleshooting

If a file fails to process once uploaded to 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.

If you require further assistance, please Contact Support.