Tired of the manual data entry grind when onboarding new contracts? Our latest release introduces Beacon AI Contract Extraction, for fast, automated contract creation, that eliminates manual entry errors and accelerates the contract creation process.

How Contract Extraction Works for Your Staff

Simply upload an existing contract PDF and the Beacon AI takes over. It automatically identifies and extracts critical details like supplier names, effective dates, and financial values. All uploaded documents are managed through a new Contract Inbox, ensuring that every attachment is tracked and linked to its corresponding record from the moment it enters the system.

Upon upload, the system creates a Draft Contract. This allows you to step away or gather more info without losing your progress.

Extracted data is used to pre-populate contract fields. You maintain full control to review, validate, and edit the suggestions, ensuring 100% accuracy before the contract goes live.

Secure by Design

Your sensitive legal documents are handled with the highest security standards. Beacon AI Contract Extraction utilizes secure document parsing, ensuring that data extraction occurs in a protected environment. Information is only used to populate your specific contract fields and is never shared outside your community’s secure instance.

Ready to Accelerate Your Contracting?

Beacon AI Contract Extraction is the next step in our journey to embed intelligent automation across your entire procurement suite.

To enable Contract Extraction for your community or to see a live demonstration of the "Upload and Populate" workflow, please contact your Account Manager today.