LEVERTON’s AI taps Open Box’s Real Estate Automation Engine
LEVERTON, a market leader in intelligent information extraction and document management, has partnered with Open Box to use its Real Estate Automation Engine, powered by Robotic Process Automation (RPA), for seamless data migration to leading Commercial Real Estate ERP systems.
Open Box delivers automation services to Real Estate organisations over the cloud, on a Robots-as-a-Service (RaaS) basis. RaaS allows companies to use software robots to take over tedious, repetitive, manual work, freeing up humans to do more intellectual, creative, strategic work.
By automating the migration of lease data between LEVERTON and ERP systems, the Open Box Real Estate Automation Engine, also known as Rob Sparke, ensures this is efficient, accurate and standardised. Trained to migrate data for all major Real Estate ERPs, the Automation Engine cross references the data it inputs with existing data in the ERP system to ensure there is a single, correct version of all records. Plus, it can automatically set up new leases with all the relevant information required by the system the first time data is entered — this is often a challenge when attempting to load lease data through an extraction, transformation and loading (ETL) process.
Once the LEVERTON deep learning platform has abstracted the legally-binding data in commercial leases, Rob Sparke interacts with the LEVERTON API to access the relevant data points, transforms the data into the relevant ERP’s required format and pushes the data into the system through a combination of extraction, transformation and loading (ETL) processes, interaction with system APIs and front-end application automation. Automating the process end-to-end means companies have real-time access to correct data, allowing them to make better decisions faster.
LEVERTON uses deep learning, a subset of Artificial Intelligence (AI) programmed to simulate the way the human brain functions, to automatically extract data from unstructured documents. This has been particularly valuable in the Real Estate sector, and LEVERTON is already working with Real Estate giants such as JLL and Barings to facilitate the smarter and more efficient management of large portfolios.
“LEVERTON is a great platform for Real Estate companies to use to abstract the information in their leasing documents. We’re excited that Rob Sparke, our automation engine, has enhanced this service by making the subsequent upload to clients’ ERP systems seamless and automatic,” said Dustin Strydom, director of Automation Services at Open Box. “Ultimately this is another great opportunity for CRE organisations to rethink the type of tasks they assign to humans.”
“Both systems automate tedious, yet crucial processes, simplifying and standardising them, freeing up people to do more strategic tasks, and proving the Real Estate organisation with the information it needs to make informed decisions,” said Richard Belgrave, head of Europe at LEVERTON about the Open Box partnership.
About Open Box
Open Box is a global software development consultancy focused on the Real Estate industry. For the past 16 years, we have been working with some of the leading names in the global Commercial Real Estate industry. As a result, we have been involved in defining industry best practice for not only the use of technology, but also business processes.
The Open Box Real Estate Automation Engine leverages best-of-breed Robotic Process Automation (RPA) technology on a Robots-as-a-Service (RaaS) basis, along with our wealth of knowledge and experience in understanding, mapping and improving Real Estate business processes. It combines these elements with our expertise in the development, support and integration of Real Estate software solutions.
Find out more at https://www.openboxsoftware.com
LEVERTON develops and applies disruptive deep learning technologies to extract, structure and manage data from corporate documents in more than 20 languages. Its platform empowers corporations and investment firms to be more efficient and effective with their data & document management. It facilitates quick and data-driven decision-making by creating actionable, valuable insights out of unstructured data. More than 100 global industry leaders trust LEVERTON to build their CORE of structured data. The intelligent platform runs on LEVERTON servers in ISO 27001 and ISO 9001 certified data centers which guarantee highest security. Contact us at www.leverton.ai.