by Brianna Crandall — December 14, 2016 — Adding another critical element to its already robust technology platform, global financial and professional services firm JLL recently announced a cooperation agreement with global machine learning company Leverton. This formalizes the relationship between the two companies and enables more effective management of lease documents through the rollout of Leverton’s machine learning technology.
JLL and Leverton had an existing relationship to automate and digitize key administrative processes in lease management. As part of the newly signed agreement, Leverton’s automated lease abstraction software will be deployed for JLL’s clients in North America, Continental Europe and Asia-Pacific.
Leverton’s machine and deep learning technology enables the identification, extraction and management of key terms and data from corporate documents, such as leases and contracts, in more than 20 languages. JLL will integrate these systems into its own global technology platforms to transform the way lease documents are reviewed, analyzed and managed for its clients.
JLL says its clients will benefit from optimized data management, more efficient processing of documentation, reduced operational risk, and a more robust audit trail. The company says it is making a difference in its clients’ experience of the entire lease administration life cycle through the smart use of machine learning capabilities, and that the combination of mind and machine “represents the ultimate frontier in unlocking real estate portfolio insights.”
Chris Zissis, chief information officer, EMEA, JLL, commented:
As we expand these optimized services across the business, clients stand to benefit from the more efficient processing of their important documentation and, longer term, from the insights we can provide from better integration of this data with systems used across JLL, such as our real estate analytics platform RED. Leverton has the potential to work seamlessly alongside our existing digital tools and applications to offer increased transparency, and help clients meet regulatory requirements and make more informed decisions about their real estate activities.
As part of its global digital transformation strategy, JLL was reportedly one of the first companies to engage with Leverton. The firm is driving the use of smart technologies and big data to optimize and connect its 280+ offices across the 80 countries in which it operates globally.
For more informationbon the lease management agreement or the companies’ products and services, visit the JLL or Leverton Web sites.
