US-based Savills Studley has signed a global partnership agreement with proptech company LEVERTON in the latest expansion of their augmented lease administration and portfolio planning platform.
LEVERTON will combine its AI-powered data extraction technology with Savills Studley’s Knowledge3 portfolio analysis technology designed for global real estate occupiers. LEVERTON’s app recognises and stores key property metrics from PDFs and forms and Knowledge3 translates the data collected into visuals that provide occupiers with a complete snapshot of real estate holdings.
Compared to manual data entry and structuring, LEVERTON’s app reduces the duration of the process by approximately 30%.
“The time saved in obtaining robust real estate intelligence enables portfolio managers to fast forward to driving strategy, identifying value and strengthening decision making,” Savills Studley’s chief information officer and head of client technologies Patrick McGrath said. “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.”
The new collaboration comes after LEVERTON’s recent appointments of Patrick McGrath to the role of chief investment officer and former EPIQ VP Catherine Ostheimer as vice president of marketing to drive innovation in occupier-focused technology for the firm.
Abhinav Somani, chief executive of LEVERTON added: “We’re proud to be working with the forward-thinking minds at Savills Studley who have a unique understanding of the ongoing and future needs of occupiers. We’re looking forward to building on the work we’ve started with them and providing even more insights to our global client base.”
The article was originally published on Property Week.
Author: Emanuela Barbiroglio, Data Editor and Proptech Reporter, Property Week
Click here to read the official press release announcement.