Automated Extraction Of Data From Smart Documents
This course is a follow-up to Document Drafting Automation Basics. Please complete that course first if you already haven’t.
Task 1: Tag Contractual Parties
In this course we will apply Template Tags.
Tags are used in Legito to seach document quickly, avoid data entry errors, and power analytical and reporting tools.
On your Dashboard, locate the placeholder for your Loan Agreement Template Suite. Click the Edit button within the placeholder, and you will be taken to the Loan Agreement Template Suite. On the Loan Agreement template placeholder, click Edit, and you will be taken to the Template Editor. Now you may resume building this Template.
First, tag the contractual parties.
Click the Textinput where the Document Users will insert the name of the Creditor. In the top menu, click the Tags tab. In the box that appears, start typing the following FirstPartyName. You will notice that various suggestions will appear underneath the box: you may either finish typing the Tag or, if you see it below, click to select it from the list of suggestions. (see image below)
Now click the text “Creditor” and add the tag FirstPartyDefinition (see image below).
Repeat these steps for the Debtor’s Name Textinput field, and the text that reads, “Debtor”, applying the Tags SecondPartyName and SecondPartyDefinition.
Task 2: Tag Key Dates
Task 3: Extract Document (Contract) Value
Task 4: Extract Document Summary
We will now use the Summary Tag, to auto-extract text from the last three Elements of Paragraph 5.2 (the contractual penalty for late payment).
Elements to be tagged:
Text: ”the Debtor agrees to pay to the Creditor a contractual penalty in the amount of”
Text: “% of the outstanding balance for each day in default until the full repayment of the Loan.”
Hover the cursor over each of these elements, click, and apply the tag Summary. For the avoidance of doubt, you will add three separate tags to this paragraph (see image below):
Now remember to Publish this updated version of the template, to ensure that the next document you generate using this template will use these tags.
Task 5: Test
Let’s test the tags. Open the Loan Agreement as a user from your Dashboard (by clicking Create).
Enter values for all of the Elements which you have just tagged (i.e., Textinput, Money, and Date).
Now scroll to the bottom of the page, Save your Document. Scroll back to the top, click Manage Documents from the top menu. On the next page, you will see the Loan Agreement’s corresponding Document Record. If it is not already expanded, click on the record to expand it, and you will see that the tagged data points have been automatically extracted:
You can find more information about Tags here:
Where to go next?
Advanced Document Drafting Automation
Unleash the full potential of document automation. Learn about styles, instructions, complex conditions and translations.