Release Notes

New updates and improvements to SpotDraft

  1. 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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  2. 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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  3. Improved party information extraction

    CLM
    All Users
    Q2 24

     Product Area:Smart Data Capture

     Impact of Change: Performance enhancements

     Roles Impacted: Metadata extraction users

    Details

    Smart Data Capture can be used to extract party information (counterparty and internal party entity).

    The way this system was previously set up would lead to three very common issues:

    1. Counterparty would not be extracted at all
    2. The internal party would be extracted as the counterparty
    3. Some parties in a multi-party contract would not be extracted

    This was because we relied on the AI for this mapping between parties. While we did give it some context, it was still hard for the AI to fully grasp who is the internal party, and who is the external party.

    The Update

    This behaviour has now been updated. We now ask the AI to extract all parties to the contract, and then use heuristics to map the extracted entities to those present in the system. This improves the accuracy of party information extraction by a lot, and entirely gets rid of the problems mentioned above.

    What does this mean for customers?

    Counterparties will be extracted for customers for almost all contracts--the chance of failure has reduced significantly. Especially with the new Gemini Flash updates, we should be able to extract counterparties for customers in 100% of the cases.

    How to Enable : Enabled automatically for all customers using SDC

    Relevant Resources: No resources at this time

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  4. Updates to the repository

    CLM
    All Users
    Q2 24

     Product Area:Repository

     Impact of Change: Expanded Functionality

     Roles Impacted: All Users

    Details

    We are thrilled to introduce our latest enhancement to the Repository! This update includes new visual and interactive features, designed to make your contract management experience more efficient and pleasant.

    Here’s what’s new:

    Column Borders: Each column now features borders, keeping your data neatly organized and easier to consume.

    Enhanced Colors: Experience a refreshed user interface with a sleek new blue color scheme, providing a more vibrant and engaging home page.

    Resizable Columns: Enjoy greater control over your repository! Columns can now be resized by dragging their edges. Whether you need more space for detailed information or prefer a compact view, you can adjust column widths to your liking.

    How to Enable : Publicly available and ready for immediate use.

    Relevant Resources: No resources at this time

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  5. Major and minor agreement versions - Clickthrough and Legal Hub

    Clickthrough
    Legal Hub
    All Users
    Q2 24

     Product Area:Clickthrough and Legal Hub

     Impact of Change: Quality of Life Improvement

     Roles Impacted: All Clickthrough and Legal Hub Users.

    Details

    Clickthrough and Legal Hub users can now publish an agreement as either a major or minor version.

    What is a Major and Minor Version?

    Major Version: This involves substantial changes that affect users' rights and obligations. Each major version is represented as a whole number, like v1.0, v2.0, v3.0, etc.

    Minor Version: This includes routine updates and corrections that don't significantly impact users. Minor versions are represented as decimals, like v1.1 or v1.2, and are subversions of major version.

    Users can choose to collect re-acceptance for both major and minor versions.

    How to Enable : Enabled by default for all Clickthrough and Legal Hub users

    Relevant Resources: No resources at this time

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  6. Email attachment format settings

    CLM
    Q2 24
    All Users

     Product Area:Workflow Manager

     Impact of Change: New Functionality

     Roles Impacted: Users who have access to Workflow Manager, Business Users

    Details

    We have addressed a key user need and brought the power of email attachment format configuration directly into SpotDraft. Previously, this capability was only available through integration, limiting flexibility for users who relied solely on the core platform.

    Now, you can set the specific file formats in which contracts are sent to counterparties within your workflows. The available options are:

    Template Workflows: Contract Link, MS Word, and PDF formats.

    Third-Party Workflows: MS Word and PDF formats.

    Simply navigate to the Workflow Settings section for your desired workflow, and you will find a new option to configure the desired attachment formats for your counterparty communications.

    How to Enable : Available to all customers

    Relevant Resources: Help Center Documentation 

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  7. Saved changes indicator for workflows

    CLM
    All Users
    Q2 24

     Product Area:Workflow Manager

     Impact of Change: Improved UX

     Roles Impacted: Admin Users

    Details

    Users will now see a small bubble in their workflow header that clearly indicates that all changes made to their workflow has been saved. This will give users the confidence that all of their progress is secure, and there is no data loss.

    Check the screenshot below to see how this looks!

    image
    How to Enable : Available to all customers

    Relevant Resources: No resources at this time

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  8. Image cropping improvements for seal fields

     Product Area:Native E-Sign

     Impact of Change: Quality of Life Improvement

     Roles Impacted: Signatories on SpotDraft

    Details

    We've enhanced the image cropping experience for seal fields, making it simpler to add your seal accurately. Here's how we've improved it:

    Dynamic Cropping: The image cropper now automatically adjusts to the size of the uploaded seal file. Previously, the cropper was fixed in size, which could result in partially cropped images.

    Customisable Seal Size: Users can now easily adjust the size and dimensions of their seal image directly within the upload dialogue box. This provides greater control and flexibility for perfectly aligning your seal.

    How to Enable : Applicable to all users

    Relevant Resources: No resources at this time

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  9. Reduced steps in upload and sign flow

    CLM
    Q2 24
    All Users

     Product Area:Upload and Sign Flow

     Impact of Change: Quality of Life Improvements

     Roles Impacted: Business Users and Editors who have access to prepare contracts for signing.

    Details

    Here's how it works:

    • Upload Your Contract: As before, you can upload a contract document using the familiar upload process.
    • Direct to "Prepare for Sign": Immediately after uploading, you'll be seamlessly directed to the "Prepare for Sign" flow, where you can add signatories, place fields, and finalize the contract before sending it for signature.

    This streamlined workflow reduces friction and makes the process of preparing contracts for signing even more intuitive.

    How to Enable : Available to all users who have access to upload and sign flow.

    Relevant Resources: No resources at this time

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  10. Expiration of counterparty contract links

    End Users
    All Users
    CLM
    Q2 24

     Product Area:Counterparty Contract Links (Signing and Review)

     Impact of Change: New Functionality

     Roles Impacted: Counterparty POCs, Counterparty Signatories, Business Users and Editors

    Details

    SpotDraft now allows you to have more control over the lifespan of counterparty signing and review links. Previously, links remained accessible indefinitely, even after the intended timeframe for signing or review. This new feature allows you to set expiration durations for these links, ensuring timely completion and mitigating potential security risks.

    Here's how it works:

    • Set Expiry Durations: You can now specify an expiration date for any counterparty contract link, whether it's for signing or review. This gives you the flexibility to set deadlines for important contracts, such as MSAs, offer letters, and more. The default expiration period is 365 days, but users with appropriate permissions can customize this duration. You can set expiration durations while sending contracts through the template flow, the upload flow, or by adjusting contract link preferences directly on the contract page.
    • Automatic Link Expiration: Once the expiration date is reached, the link becomes inaccessible to counterparty signatories and POCs. This ensures that contracts are acted upon within the designated timeframe.
    • Link Reactivation: If needed, you can easily re-activate an expired link. This provides flexibility if additional time is required.
    • Notifications and Reminders: SpotDraft will notify Business Users about expired links within the last one day, and a reminder email will be sent to counterparty signatories one day before the link expires. This helps ensure timely action and avoids missed deadlines.

    How to Enable : This feature is currently behind a flag and can be enabled on demand. It will be gradually rolled out to all users.

    Relevant Resources: Help Documentation 

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