Commercial real estate industry, surprisingly, has not been the front runner in adopting technology, part of the reason being the absence of an end-to-end automated solution. Technology companies are seen as too fragmented in solutions they provide by the CRE industry. In the post Covid-19 world the trend is changing, where investors are using some form of automation whether it is property management software, asset and investment management system, or a document processing solution.
As technology evolves to become more sophisticated, commercial real estate investors are harnessing the potential of automation. This process helps share investors some load of vetting a new commercial property, managing locations, and selling.
It's no longer a choice to have CRE underwriting automation tools for your firm to automate mundane repetitive tasks. In this article, we talk about some of the best automated solutions that make your life easier as a commercial real estate professional.
Check out this list of five prominent commercial real estate software used by investors to boost their productivity -
ClientLook is a cloud-based CRM (customer relationship management) software solution that incorporates contact management, project collaboration, and corporate social networking in a single integrated solution.
The price offered by ClientLook falls under three segments -
Docsumo is an automated document processing platform that enables operation teams to accurately extract information from any document in any layout with no manual setup required.
Docsumo offers automated data extraction from a number of CRE documents such as T12 statements, Offering memorandum, and operating statements which helps simplify CRE underwriting. You can classify different document types using the auto-classification feature and extract data with 98%+ accuracy. With Docsumo, there's no need for manual data entry anymore.
Clik.ai is an automated underwriting software meant for commercial real estate (CRE). Investors utilize this platform to boost underwriting as-well-as asset management functions with blazing speeds.
They provide simple plug-n-play cloud software tools. These tools assist deal makers in executing their deal valuations and transaction due-diligence with no lags.
Ask for price
Leverton is an award-winning AI-powered data extraction and contracts analytics tool that is meant for corporate and legal documents.
Leverton provides a comprehensive solution to digitize and automate lease abstraction, enforce a layer of human review, and deliver the results directly to top real estate platforms such as VTS, JDEdwards, MRI, Yardi, and Argus.
Visual Lease is a lease accounting and management platform, which provides automated calculations that extract the data points necessary to produce journal entries. This way, you spend less time devising accurate calculations.
As a property manager or a real estate investment manager, it's time for you to create space for automated solutions to streamline the most mundane tasks. The first thing to get started with is to figure out the tasks you need to automate. Hopefully, this blog was helpful for your initial research. There are a number of solutions out there which you can have a look at, compare them, and decide what works best for you.
If you're considering automating your data extraction workflow, we'd love to help. Schedule a demo with Docsumo and figure out how we can help you achieve 99% accuracy in data extraction and 90%+ straight through processing for CRE documents.
In today’s dynamic business world, filing and archiving official documents in the digital form makes it handy, and works wonders in the future or in unforeseen circumstances.
With an automated data extraction solution, loan documents can automatically be processed end-to-end without any human errors and delays. Automation in loan document processing prevents downtimes, eliminates data redundancy, and allows companies to respond faster to client queries. By combining machine learning with deep learning and OCR, companies can eliminate huge costs, derive actionable insights, and streamline loan processing and approvals through efficient data extraction and analysis.
Mortgage lenders receive multiple identity and income verification documents along with different forms from loan applicants in a variety of formats and styles. Traditional OCR solutions fail to extract data from these semi-structured documents and that’s why more and more lenders are adopting intelligent document processing solutions. IDP solutions not only extract data correctly, they are able to validate extracted data against predefined rules in order to improve accuracy.
Intelligent Document Processing is an automation technology that captures information from a myriad of documents and data sources, extract data, and organizes it for further processing. IDP solutions enable businesses to seamlessly integrate with core processes, eliminate manual labour, address challenges faced in reading different document layouts, and meeting legal & compliance requirements. Accurate data is the foundation of every organization, and IDP assists businesses in dealing with the complexity of processing huge volumes of documents, helping them automate manual data entry processes, and move away from traditional semi-automated OCR workflows.