The power of future-facing your CRE portfolio

Many organizations have realized the need for future-facing technology to remain competitive and sustainable in a fast-changing world. And many have already taken steps to digitalize and automate their workflows and business processes and digitize their financial documents and information.

Improving these processes have clear benefits: to boost efficiency, productivity and profits, reduce operational costs, improve communication, competitiveness and customer engagement and make decision-making nimbler and more information-based.

But lease-related documents need to catch up, particularly for CRE tenants. CRE document storage is hard to access promptly, difficult to track, and frequently insecure. It is scattered, cumbersome, and exists in various formats, making extracting, aggregating and analyzing pertinent data challenging.

Why has no one digitized CRE documents before now?

There are many good reasons why commercial real estate needs to catch up to financial digitization. It is a monumental task. Access is the first hurdle. Documents exist chaotically in various formats and locations, from storage rooms to servers and personal computers, making organization challenging and time-consuming – unhelpful when multiple people require timely access. And many are in a form that is too large or unwieldy to share electronically. Necessary documents can also be tough to obtain when the consultants do not work exclusively on behalf of the tenant.

So what happens? Information is often incomplete and inaccurate, benchmarks are challenging and budgeting, to a point, is guesswork. Compliance is overlooked, with overcharges on rents, real estate taxes, operating expenses and other areas. Negotiation leverage is diminished. Recoveries take longer. And all of it significantly adds up to enormous profit loss.

The second hurdle relates to experience. Few lease consultants have the expertise or depth of experience with large, complex leases at a granular level. Most are only familiar with one aspect of the lease lifecycle and nuances – the commercial real estate or the financial side – and a 360-degree view requires both. Leases also vary significantly between buildings, tenants and locations.

The final hurdle is applying technology to the entire commercial real estate portfolio – the iQ that, until now, has been missing from CRE. Using AI to extract decades of cumulative proprietary CRE landlord and lease data gathered throughout North America is a game-changer. Collecting, aggregating, structuring and managing your lease data, customized to your organization, is transformational.

CREiQ builds upon decades of extensive proprietary CRE industry insights and data collection with future-facing digitalization and workflow automation tools, document digitization, AI-powered extraction, expert analysis, and advice to provide measurable results and a 360-degree future-facing view that will transform your business.

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