Release Notes

New updates and improvements to SpotDraft

  1. VerifAI real-time indexing of edits

    VerifAI
    All Users
    Q1 24

     Product Area:VerifAI

     Impact of Change: Reliability, Quality of life improvement

     Roles Impacted:All users of VerifAI

    Details:

    We've redesigned VerifAI to be a true copilot, seamlessly adapting to your every edit.

    Previously, VerifAI only read your contract once, when the plugin loaded, ignoring any changes you made afterward. This meant that Guide results were outdated and not reflecting the latest version of your document.

    Now, VerifAI constantly monitors your document, indexing it in real-time to keep pace with your edits. This ensures that Guide results remain accurate and relevant, even as you make changes throughout your review process.

    This is a significant leap forward for VerifAI, delivering a more responsive and reliable experience that aligns perfectly with how lawyers work.

    How to Enable : No action required. Automatically implemented for all VerifAI users.

    Relevant Resources: No resources at this time 

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  2. Removing counterparties from “Import Executed Contracts”

     Product Area:Contract Management

     Impact of Change:Quality of Life and Better Data Hygiene

     Roles Impacted: Users of “Import Executed Contracts” using Smart Data Capture

    Details

    Smart Data Capture can also add counterparties to contracts. SDC sometimes has the habit of extracting some unnecessary counterparties either due to lack of sufficient context or the use of alias names etc.

    What changes?

    So far, it wasn’t possible for users to manually remove these unwanted counterparties whenever SDC would add them inadvertently. Often they would have to reach out to us via support and our oncall engineers would have to remove them from the backend. There used to be an option to replace a counterparty, but that wouldn’t help if there were more than one wrongly extracted counterparties.

    Going forward, this will become self serve! While our ML lab is making efforts to eliminate the root cause of poor extractions, we’ve also now given users the affordance to delete these counterparties on their own.

    How to remove counterparties from contracts?

    • Prerequisite: The contract has to be an import executed contract (counterparties from other workflows cannot be removed since they are always manually entered--basically, if there is an “Add Counterparty” button, there is a corresponding “Remove counterparty” button).
    • Also the contract needs to have atleast two counterparties (because otherwise “replace counterparty” works just fine)
    • Head into the “Party Information section” on the contract summary page
    • Hit the “trash can” icon next to the unwanted counterparty.
    Screenshot 2024-06-28 at 7.20.10 PM
    How to Enable : Available on all workspaces.

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  3. Access control for running SDC

    CLM
    All Users
    Q1 24

     Product Area: Smart Data Capture and Access Control

     Impact of Change: Improved control over feature usage

     Roles Impacted: SDC users and admins

    Details

    Ever since Smart Data Capture became paid and credits became a limited resource, admins have wanted control over who can extract data and consume credits.

    This is now possible. Admins will now have the ability to decide which teams get access to “Extract Contract Metadata”.

    This is available in the Teams section under access control.

    Screenshot 2024-06-28 at 7.05.55 PM

     

    What changes?

    If a user is a part of a team that has the ability to extract metadata, they will be able to use Smart Data Capture.

    If not, they won’t be able to use SDC across all touchpoints (Extract button, Upload contracts, Import Executed contracts, etc.)

    Screenshot 2024-06-28 at 6.58.11 PM
    Important note: In order to preserve status quo and avoid disruption to existing users, all existing teams have been given this access by default. Any newly created teams will need to be given access separately.
    How to Enable : Available on all workspaces.

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  4. Add approval watermark

    CLM
    All Users
    Q2 24

     Product Area:Workflow Manager (Workflow Settings) and downloaded contract from SpotDraft.

     Impact of Change:Efficient way to identify approval status on the contract

     Roles Impacted: External and Internal collaborators on a contract

    Details

    There are situations where collaborators outside the SpotDraft ecosystem(who are not users of SpotDraft), or those not involved in the contract lifecycle from the start, such as signatories, need to know if the contract has been approved by their legal team. This assurance allows them to take action confidently when they receive the contract without any back and forth with their legal team.

    Feature Overview

    Full page (43)

    The "Add Approval Watermark" feature lets users automatically add an approval watermark to contracts at the signing stage. This watermark indicates to collaborators outside SpotDraft that the contract has been reviewed and approved by your legal team, encouraging faster collaboration over contracts.

    How It Works

    1. Setting Up the Watermark: Users set the watermark text for a particular workflow through the Workflow Manager settings and publish the changes.
    2. Template and Review Flows:When a contract is marked for execution, the watermark text set for the respective workflow will automatically be added to the bottom of each contract page.
    3. Upload and Sign Flow:When a contract is uploaded via the upload and sign flow, the watermark text will automatically be added to the contract if it is set up at the workflow level for that particular contract.
    Full page (42)

    This feature ensures that all relevant parties are aware of the contract’s approval status or relevant important processes, for them to easily take their respective action on the contract.

    Note:Make sure the uploaded contract uses a consistent A4 layout so the watermark appears clearly.
    How to Enable : Available on all workspaces.

    Relevant Resources: Help Documentation  

     

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  5. Making contract search more intuitive from Cmd K

    CLM
    All Users
    Q2 24

     Product Area:Cmd K

     Impact of Change:Quality of life improvements

     Roles Impacted: Every user on SpotDraft

    Details

    Searching for contracts is now more intuitive with direct search results in Cmd K.

    Here's what's changed:

    • All actions and contracts in one search: Previously, contract search from Cmd K required a click on the Tab button. Now, contract results and all other actions are displayed directly in the Cmd K search, providing a truly global shortcut hub on SpotDraft.
    • Top four contracts as results: Instead of 25 contracts, the search now shows the top 4 results for a more focused view. You can view all contracts by switching to repository search.
    How to Enable : Available on all workspaces.

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  6. E-mail OTP based verification for counterparty contract links

    CLM
    All Users
    Q2 24

     Product Area: Counterparty signing, review, and approval(added via recipient sidesheet) links.

     Impact of Change:Enhanced security for counterparty contract links.

     Roles Impacted: Counterparty signatories, reviewers, approvers (added via recipient sidesheet) and viewers.

    Details

    Introducing an email OTP-based counterparty verification mechanism on SpotDraft. This security feature ensures that only the intended counterparty users can take action on the contract links sent via SpotDraft.

    Here is how it works:

    When the counterparty recipient tries to access the contract link, they will be prompted to enter a 6-digit OTP sent to their email address. Only upon valid authentication will the recipient be able to access the contract link. Users have up to 5 attempts to enter a valid OTP. If they fail, there will be a 1-hour freeze during which they cannot take any action on the contract.

    Counterparty signatories also have the option to resend the OTP if they did not receive it.

    The creator party can enable one-time password verification on a workflow. Once the workflow is published, all contracts created via that workflow will have email-based OTP authentication for counterparty contract links.

    Note: Email-based OTP verification is not applicable for contracts created via embedded flow or express templates.
    How to Enable : Available on all workspaces.

    Relevant Resources: Help Documentation 

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  7. Permission transparency

    CLM
    All Users
    Q2 24

     Product Area:Access Control

     Impact of Change:Increased transparency into access control

     Roles Impacted: All viewers of a contract

    Details

    We’ve made two key improvements to enhance your SpotDraft experience:

    • Contract Access Visibility: It’s essential to know who can access your confidential contracts and how they gained access. Now, you’ll find this information clearly displayed at the top-right of every contract view. This allows you to easily identify unauthorized access and take appropriate action.
    • Clarified Role Permissions: We’ve made it easier to understand the permissions associated with different roles within SpotDraft. A concise summary of each role’s capabilities is now directly available in the UI. For even more detailed information, you can consult the linked help documentation.

    As a bonus update, we’ve revamped the feature to invite users to a contract. The new UI is cleaner and simpler to understand.

    How to Enable : Available on all workspaces.

    Relevant Resources: Help Documentation 

     

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  8. Link executed contracts to SFDC

    CLM
    All Users
    Q2 24

     Product Area:Salesforce Integration

     Impact of Change:Link executed contracts from SpotDraft to SFDC

     Roles Impacted: SFDC integration users

    Details

    • We now create a SpotDraft Contract record on Salesforce as soon as a contract is linked to a Salesforce record in the ‘Manage’ section, at any stage in the contract lifecycle (pre/post-execution stages).
    • Unlinking a record in the SpotDraft manage section also deletes the SpotDraft Contract record in Salesforce.
    • Updating the linkage from record A to record B removes the SpotDraft contract record from record A and creates it under record B.
    • Now we’re able to identify whether a contract was signed inside SpotDraft or outside and update the status of the signatories accordingly. If signed outside of SpotDraft, we have introduced a new status called 'Signed Externally.'
    How to Enable : Available on all workspaces.

    Relevant Resources: No resources at this time

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  9. Gemini Flash for Smart Data Capture

    CLM
    All Users
    Q2 24

     Product Area:Smart Data Capture

     Impact of Change: Performance enhancements

     Roles Impacted: Metadata extraction users

    Details

    On May 14, 2024, Google announced their latest generation of Gemini 1.5 LLMs. The beauty of these models lies in their ability to work on huge contexts, meaning that AI could work with a huge amount of data, eliminating some of the challenges encountered previously.

    What does this mean for you?

    Much better accuracy!

    We’ve improved our underlying AI engine significantly with state-of-the-art Gemini models that were launch less than a month ago.

    Instead of breaking up the contract into multiple pieces, and then sending it to LLMs, we send the entire contract for extraction. This helps improve the accuracy, and also helps the LLM reason much better. For the end user, this means more metadata fields are extracted consistently, with a much higher accuracy than before!

    How to Enable : We will be rolling out this feature to all customers over the coming weeks. If you would like to have it enabled sooner, please contact your CSM.

    Relevant Resources: No resources at this time

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  10. Multi-Column Layout in MS Word online

    CLM
    All Users
    Q2 24

     Product Area: Editor improvements

     Impact of Change: New functionality

     Roles Impacted: All users with editor access

    Details

    Some common pain points for users working with contracts containing multiple columns are as follows:

    • No Multi-Column Support: Previously, MS Word Online lacked the ability to handle multi-column layouts. This prevented users from editing contracts with two-column layouts directly in SpotDraft.
    • Workarounds: We recommended OnlyOffice as a workaround, but this created an extra step and inconsistency for users.
    • Inconsistency Between Preview and Editing: There was a discrepancy between the contract preview (showing two columns) and the editing view (showing a single column), leading to confusion.
    • Templated Contract Issues: Moving two-column templated contracts to the editor resulted in them appearing as single-column contracts.

    With this release, these issues are a thing of the past!

    MS Word Online editor now fully supports multi-column layouts, allowing you to:

    • Edit Existing Two-Column Contracts: Seamlessly work with contracts that use a two-column layout within the MS Word Online editor.
    • Create New Multi-Column Contracts: Design and edit new contracts with multiple columns using the familiar MS Word Online interface.
    How to Enable : Rolled out to all workspaces that have MS Word Online as their editor

    Relevant Resources: No resources at this time

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