This feature is in closed beta. Stay tuned for our full launch.
Harness Generative AI to help you with your day-to-day activities. Use Folio DocGPT to automatically extract key information from documents in your inbox, so you have this information at hand, whenever you need it.
Getting started
As this is a beta feature, you will receive an email invite when the feature is available for your account. To access the feature, please click on the link in the email invite.
You must also be a Gmail user with the Folio Chrome extension installed. If you don’t have the extension installed, please refer to this article for instructions on how to set it up.
How does it work?
DocGPT’s automatic data extraction feature is available for Smart Folders which are under contract and have a fully executed purchase agreement/offer document.
You will have full control over when DocGPT automatically extracts the information you need to know from the agreement. Once the extraction is complete, quickly review the results in your notes tab, and use DocGPT to build out your timeline events.
What key information will DocGPT provide?
Folio will look for key transaction details, such as purchase price, deposit information, loan and interest rate, and the Close of Escrow date.
If you wish to retrieve additional information, such as Key Dates, Contacts, or any other specificities we were able to find in the document, click the “Extract more info” button.
When will DocGPT extract information for a transaction?
We will only extract information for Smart Folders that are under contract and when you select a document for DocGPT to analyze. Under-contract folders include:
Accepted under-contract Smart Folder suggestions
Manually created under-contract Smart Folders
Smart Folders that are moved to the under contract stage
After navigating to the notes tab, please click on the “Extract Transaction Details” button to start the process. We’ll show you a list of files and, after you confirm which file is the purchase agreement, we’ll automatically pull the information from the agreement.
The extracted information will be available in your sidebar’s notes tab and by clicking the “Transaction Details” link in the sidebar header.
This information will not be shared with any timeline sharees.
Can I edit this information?
Yes, you can edit or remove this information. Hover over the field you’d like to edit, and click on the pencil icon to edit the field’s contents.
We also welcome your feedback on whether the information was useful to you. Toward the bottom of the sidebar, you’ll see a section where you can rate the quality of the information that we automatically pulled from your purchase agreement. This feedback will help us improve the tool and the information we provide over time.
How does this affect the information in my notes tab?
You will still be able to use the notes section as before, and its existing information will not be affected by activating this feature. You can easily hide the Transaction Details section by clicking the “Hide” option next to its title. Whenever you wish to check the information again, just click the “Show” option.
Please note:
In its first version, this tool will perform the extraction once per Smart Folder. You can always check which document the information was extracted from.
Our Google Drive integration does not have to be enabled.
Monthly usage limits will vary based on your Folio plan.
If you are in the beta group and want to disable the feature for your account, you can do so by selecting the “Disable transaction data extraction from documents” option from the sidebar menu.
If you have any questions or feedback, please get in touch – we’d be happy to help.