Savills today announced that it expanded its global partnership with MRI Software, a worldwide leader in real estate software.
As part of an extended agreement, Savills will expand its integration of MRI’s artificial intelligence-powered data abstraction tool, MRI Contract Intelligence powered by Leverton AI, to include MRI ProLease, a cloud-based solution for lease administration, lease accounting, lease analysis and workplace management.
The integrated capabilities will deliver enhanced real estate management applications to clients utilizing Savills business intelligence platform Knowledge Cubed.
“Corporate occupiers require access to data historically locked away in leases to effectively manage and reevaluate their portfolios,” said Saurabh Abhyankar, MRI Software’s chief product officer. “The expanded integration of Leverton AI automates and simplifies the complex data extraction process, enabling Savills clients to easily access and analyze data from leases, contracts and legal documents.”
Savills and MRI will leverage a jointly developed data model to accelerate document abstraction and structuring for corporate occupiers. The proprietary machine-learning algorithm will allow smaller teams to quickly set up digital applications within Knowledge Cubed and highlight actionable insights to enable better management of real estate portfolios.
“By integrating our algorithm within Knowledge Cubed applications, we are able to provide clients an unparalleled speed and scale advantage that helps analyze portfolios in real time with access to the source documents in one click,” said Patrick McGrath, Savills chief information officer and head of client technologies.
The MRI partnership continues Savills ongoing investment in innovative client technologies and data partnerships. Launched in 2016, Knowledge Cubed brings together key technologies (e.g., machine learning, cloud, IoT, big data, mobile apps, cybersecurity, and digital contracts) to help clients better understand and optimize global real estate and human capital investments.
During the last 12 months, Savills expanded and signed new partnerships with key partners such as Matterport, CoStar, and CompStak to further invest in the best-in-class technology and data platform designed for corporate occupiers.