JLL has signed a global agreement with Leverton to automate lease management. Following on from its announcement in August to extend its relationship with the data tech experts, it has now formalised a global co-operation agreement.
'This is a really exciting development for us and for our clients. Technology is transforming the world of real estate and we recognized early on how working with Leverton would make it possible for us stay ahead of the curve and demonstrate best practice,' commented Vincent Lottefier, global president, Integrated Portfolio Services, JLL.
'This is a great example of how we are making a real difference in our clients’ experience of the entire lease administration life cycle through the smart use of machine learning capabilities. We strongly believe that the combination of mind and machine represents the ultimate frontier in unlocking real estate portfolio insights,' Lottefier added.
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.
JLL said its clients would benefit from optimised data management, more efficient processing of documentation, reduced operational risk and a more robust audit trail.
'As we expand these optimised 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,' said Chris Zissis, chief information officer, EMEA, JLL.
'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,' Zissis concluded.
