Commercial real estate industry, surprisingly, has not been the front runner in adopting technology, part of the reason being the absence of an end-to-end automated solution. Technology companies are seen as too fragmented in solutions they provide by the CRE industry. In the post Covid-19 world the trend is changing, where investors are using some form of automation whether it is property management software, asset and investment management system, or a document processing solution.
As technology evolves to become more sophisticated, commercial real estate investors are harnessing the potential of automation. This process helps share investors some load of vetting a new commercial property, managing locations, and selling.
It's no longer a choice to have CRE underwriting automation tools for your firm to automate mundane repetitive tasks. In this article, we talk about some of the best automated solutions that make your life easier as a commercial real estate professional.
Check out this list of five prominent commercial real estate software used by investors to boost their productivity -
Docsumo is an automated document processing platform that enables operation teams to accurately extract information from any document in any layout with no manual setup required.
Docsumo offers automated data extraction from a number of CRE documents such as T12 statements, Offering memorandum, and operating statements which helps simplify CRE underwriting. You can classify different document types using the auto-classification feature and extract data with 98%+ accuracy. With Docsumo, there's no need for manual data entry anymore.
U-Rite is a cutting-edge underwriting and valuation platform for commercial real estate that helps investors and analysts underwrite deals up to 70% quicker. U-Rite’s platform leverages cloud computing to perform complex CRE calculations, directly in Excel.
Plans available for both software-only and “Underwriting-As-A-Service” where U-Rite provides both software and a dedicated analyst to your team.
Clik.ai is an automated underwriting software meant for commercial real estate (CRE). Investors utilize this platform to boost underwriting as-well-as asset management functions with blazing speeds.
They provide simple plug-n-play cloud software tools. These tools assist deal makers in executing their deal valuations and transaction due-diligence with no lags.
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Leverton is an award-winning AI-powered data extraction and contracts analytics tool that is meant for corporate and legal documents.
Leverton provides a comprehensive solution to digitize and automate lease abstraction, enforce a layer of human review, and deliver the results directly to top real estate platforms such as VTS, JDEdwards, MRI, Yardi, and Argus.
Visual Lease is a lease accounting and management platform, which provides automated calculations that extract the data points necessary to produce journal entries. This way, you spend less time devising accurate calculations.
As a property manager or a real estate investment manager, it's time for you to create space for automated solutions to streamline the most mundane tasks. The first thing to get started with is to figure out the tasks you need to automate. Hopefully, this blog was helpful for your initial research. There are a number of solutions out there which you can have a look at, compare them, and decide what works best for you.
If you're considering automating your data extraction workflow, we'd love to help. Schedule a demo with Docsumo and figure out how we can help you achieve 99% accuracy in data extraction and 90%+ straight through processing for CRE documents.
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