How intelligent document processing can transform commercial real estate organizations

Unlock data hidden in documents to open the door to greater profitability and productivity.

Commercial real estate process automation key benefits

Expand process capacity

• Grow revenue without adding expenses.

Increase efficiency

• Streamline and codify commercial real estate processes.

Reduce cycle times

• Process documents faster, from rent rolls to lease agreements and contracts.

Unstructured Data Fast Facts

• 85% of data in the enterprise is unstructured.
• Less than 2% is leveraged by unstructured data analytics tools.
• 80% reduction in resources required with AI.

Why early commercial real estate automation attempts hit a wall

Commercial real estate companies have been seeking the process automation holy grail for years, with only modest success. The reason is that these attempts have focused on technologies using rule- and template-based approaches that only work well with highly structured data. Automating the processing of documents, like rent rolls, can help unearth trends and inform decisions around rent increases.

Efforts using templates or rules have been ineffective; it’s impossible to develop enough rules to account for all document variations. Consequently, firms have relied on manpower to manually extract relevant data.

Intelligent Document Processing for Commercial Real Estate

Effective automation processes involving unstructured data require tools with AI capabilities, such as machine learning, transfer learning, and natural language processing (NLP). For example, the Indico Intelligent Process Automation platform can understand human language and the context behind documents and images. Companies can use this platform to build custom models and automate almost any commercial real estate process.

Intelligent Automation Use Cases for Commercial Real Estate

Lease agreement process automation

Intelligent automation can automate lease agreement processing, extracting essential information for entry into downstream tools like ERP systems. Instead of relying on paralegals to manually sift through documents, an intelligent automation platform can streamline this process.

Automating invoice processing

Given the diverse formats of invoices from multiple vendors, intelligent automation platforms can accurately extract data to input into ERP systems, enhancing efficiency.

Legal and contracts document automation

Legal documents contain valuable data typically out of reach due to required manual extraction. Intelligent automation enables the reading of these documents and the extraction of data for input into risk analysis tools and contract lifecycle management systems.

Automating lease administration

Lease administration throughout their lifecycle is crucial for compliance. Intelligent automation can expedite the process, enabling extraction of critical data from each lease into administration systems.

Automating rent roll processing

Rent rolls contain significant data that can guide better investment decisions. Extracting this data allows companies to identify trends and potential issues, enhancing strategic insights in property management.

Learn how commercial real estate organizations can unlock unstructured data

• Expand process capacity: Increase productivity without adding employees.
• Increase efficiency: Free employees from mundane tasks for more valuable work.
• Improve cycle times: Faster processing with increased accuracy.
• Capture industry knowledge: Define and streamline processes effectively.
• Compete effectively: Gain a competitive edge through automation.