CHICAGO, IL and LONDON, UNITED KINGDOM and SINGAPORE--(Marketwired - Nov 30, 2016) - Adding another critical element to its already robust technology platform, JLL (NYSE: JLL) today announced a global co-operation agreement with Leverton. This formalises the relationship between the two companies and enables more effective management of lease documents through the roll out of Leverton's machine learning technology*.
JLL, the leading global financial and professional services firm specialising in real estate, and Leverton, the leading global deep and machine learning company, 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 Asia Pacific.
Leverton's machine and deep 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.
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: "This is a really exciting development for us and for our clients. Technology is transforming the world of real estate and we recognized early on how working with Leverton would make it possible for us stay ahead of the curve and demonstrate best practice. This is a great example of how we are making a real difference in our clients' experience of the entire lease administration life cycle through the smart use of machine learning capabilities. We strongly believe that the combination of mind and machine represents the ultimate frontier in unlocking real estate portfolio insights."
As part of its global digital transformation strategy, JLL was one of the first companies to engage with Leverton. The firm is driving the use of smart technologies and big data to optimise and connect its 280+ offices across the 80 countries in which it operates globally.
Chris Zissis, Chief Information Officer, EMEA, JLL said: "As we expand these optimised services across the business, clients stand to benefit from the more efficient processing of their important documentation and, longer term, from the insights we can provide from better integration of this data with systems used across JLL, such as our real estate analytics platform RED. "
"Leverton has the potential to work seamlessly alongside our existing digital tools and applications to offer increased transparency, and help clients meet regulatory requirements and make more informed decisions about their real estate activities."
LEVERTON develops and applies disruptive deep learning / machine learning technology to extract and manage data from corporate documents in several international languages. Our clients optimize their contract management significantly, manage operational teams more efficiently and process transactions faster. LEVERTON brings smart data at corporations' fingertips that is completely ERP consumable.
Know what's inside your corporate documents. Contact us at www.LVN.com.
Berlin, Germany | London, United Kingdom | New York, NY, USA
JLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. JLL is a Fortune 500 company with, as of December 31, 2015, revenue of $6.0 billion and fee revenue of $5.2 billion, more than 280 corporate offices, operations in over 80 countries and a global workforce of more than 60,000. On behalf of its clients, the company provides management and real estate outsourcing services for a property portfolio of 4.0 billion square feet, or 372 million square meters, and completed $138 billion in sales, acquisitions and finance transactions in 2015. As of September 30, 2016, its investment management business, LaSalle Investment Management, has $59.7 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.
*About machine learning technology
Machine learning technology is a type of artificial intelligence which, in this case, means that computers can 'learn' to pick out key information amongst pages of lease documents without being explicitly programmed.