Streamline Loan Agreement reviews using AI-powered DocuMine, saving time and improving efficiency.
New to DocuMine? Start with Getting started with DocuMine for an introduction to the tool and its key concepts.
Why use DocuMine for Loan Agreement reviews?
Loan agreement reviews can be challenging for auditors, as the process typically involves manually examining agreements one by one to verify key information. This method is time-consuming and susceptible to human error, creating workflow inefficiencies and hindering the ability to provide accurate and timely insights.
DocuMine transforms how you approach document-heavy reviews with:
Time savings: Automates manual searches, enabling faster results.
Consistency: Provides a structured and uniform approach to reviewing loan agreements.
Traceability: Links answers directly to their source with Snips, ensuring transparency and accuracy.
Prerequisites
DataSnipper v6.2 or later
User Management enabled in Admin
Accelerate or Elevate DataSnipper package
Access to the internet
Video tutorial
What the video covers: A step-by-step walkthrough of a Loan Agreement review using DocuMine — preparing questions in Excel, running DocuMine, reviewing AI-generated answers, and approving results with Snips. An example workbook with sample questions and source documents is shown in the video.
Step-by-step guide
Step 1: Prepare your Loan Agreement document(s)
Upload your Loan Agreement document(s) to DataSnipper for Excel. Use the Import or Organize buttons to ensure your documents are ready for processing.
Step 2: Define your questions
Write down the specific questions you want answers to in your Excel sheet. Examples:
"Who are the parties stated in the loan agreement?"
"What is the effective date of the loan agreement?"
"What is the mode of repayment of loan by the borrower?"
Step 3: Open DocuMine
Click the DocuMine icon in the DataSnipper ribbon in Excel. The DocuMine pane will appear on the right side of your screen.
Step 4: Select your input questions
Highlight or select the questions you have written in your Excel sheet. Click Next in the DocuMine pane to proceed.
Step 5: Select your source documents
In the DocuMine pane, select the Loan Agreement document(s) you want to search. Click Start to begin the DocuMine process.
Step 6: Start your review
Once DocuMine completes the process, click Start Review to review the AI-generated answers in Excel. Each cell will contain the answers found in the document, along with Snips referencing their source for easy verification.
Step 7: Validate and save
Confirm the accuracy of each answer by reviewing it carefully.
If the answer is correct, click Approve to save it. Approved answers turn into pink Snips, confirming your review is complete.
If the answer is incorrect, click Reject to discard it. Rejecting removes both the incorrect answer and its associated Snips.
Command Bar tip
Command Bar is a quick-access feature to find answers instantly. Ask a single question and search within a specific document. Activate by pressing CTRL + ALT + SPACE. Learn more at knowledge.datasnipper.com/how-to-use-command-bar.
Step 8: Use Focus Mode for detailed review (optional)
Focus Mode is a dedicated interface designed to help you efficiently review, approve, and reject answers.
Left side: Displays the question, answers, and the reference to the source (Snips).
Right side (Document Viewer): Shows the source document for reference.
Use shortcuts: X to reject, V to approve, Arrow Keys to navigate between answers.
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