The two businesses had an existing relationship to automate and digitise key administrative processes in lease management. 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 the Asia Pacific.
LEVERTON’s machine 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 to transform the way lease documents are reviewed, analysed and managed for its clients.
It is hoped that JLL clients will benefit from optimised data management, more efficient processing of documentation, reduced operational risk and a more robust audit trail.
Vincent Lottefier, Global President, Integrated Portfolio Services, JLL, said: ‘Technology is transforming the world of real estate. We strongly believe that the combination of mind and machine represents the ultimate frontier in unlocking real estate portfolio insights.’
JLL is a professional services and investment management firm in the real estate sector. Last year it had revenues of $6 billion and operations in over 80 countries.