Savills Studley is partnering with LEVERTON to improve lease administration and portfolio planning.
The firm combined its Knowledge3 portfolio analysis technology with LEVERTON’s AI-powered data extraction technology.
The result was a system that landed the two companies CoreNet Global’s 2017 Innovator Award.
In a new formal partnership, Savills Studley will deploy LEVERTON as one of the interconnected apps in Knowledge3. A business can now input PDFs of leases and amendments into the LEVERTON app of Knowledge3, which recognizes, structures and stores key property metrics.
Compared to manual data entry and structuring, LEVERTON reduces the duration of the process by approximately 30 percent.
Knowledge3’s analytical frameworks translate the data into visualizations that provide occupiers “Portfolio managers spend several hours a week performing data entry, customizing and integrating data with traditional tools like Microsoft Excel and Powerpoint in advance of strategy meetings with senior executive teams,” said Patrick McGrath, Chief Information Officer, Savills Studley. “Now with a single click, occupiers can examine their businesses from any angle — whether it’s the operating costs of an entire portfolio or maximizing value at a single property.
“For Savills Studley, this tool enables us to skip ahead to the consulting side of what we do, which has saved clients hundreds of millions of dollars in occupancy cost savings.