The aim of the Lease Contract Analysis tool was to provide users (lease auditors) the ability to rapidly extract important information from commercial leasing contracts. The solution audits lease agreements, reviews invoices, and analyses the building, to make decisions on how to proceed with that audit. When clients require tens of thousands of lease contracts to be reviewed, a lot of time and money can be spent manually reviewing the documents. The Lease Contract Analysis tool should create large cost savings by automating a large part of this manual process.
The lease auditors upload lease contracts in the form of PDF documents to the product. The lease audit analysis tool then extracts all of the important information from the document, using Named Entity Recognition such as the landlord’s name, whether the tenant pays for electricity, and soon; and highlight exactly where in the document the extracted information was found in a web application.
The lease auditors as end-users find value through the automation of extremely time-intensive tasks associated with manually reading and reviewing long lease agreements to find relevant information during the lease contract audit.