The Business Need
World’s largest commercial and real estate American firm serving owners, investors and occupiers had a compelling need to abstract multilingual commercial leases and integrate into their client database. Abstracted lease information from these commercial leases would simplify a lease reviewer or administrator’s work by feeding all the extracted data points straight to the client database, saving them hours of manual effort.
Challenges we faced
The major challenge laid in abstracting multilingual leases is that it demanded expert skills which were highly time-consuming and even a slight misinterpretation meant severe consequences. A complete abstraction of critical fields was hugely hindered due to missing pages scans or missing property for each property.
How we solved the problem
A centralized team of Mobius experts processed 50 to 300 pages of lease documents with an average of 4 to 5 hours per lease. Mobius deployed an effective solution to abstract all the data fields from leases, subleases, and amendments and integrate into their client’s database. The abstract could be exported in various formats. Search for specific legal language across all leases was made feasible.
Results
From the solution provided by Mobius, the client was able to make better decisions and facilitated advance customized reports by tracking and managing critical data fields. The abstracts were centrally and securely stored making it feasible to be accessible from anywhere.