Several technologies are disrupting the construction and real estate industry. A few notable ones include artificial intelligence (AI), machine learning (ML), and natural language processing (NLP).

Many real estate solutions like MRI have adopted these technologies to improve their capabilities. They are unleashing these technologies to enhance visibility, manage risks, and boost profitability. 

One key area to benefit from these developments is MRI contract intelligence. It now leverages AI, ML, NLP, and deep learning to foster unparalleled business insights. 

MRI has transformed its earlier platform, Leverton AI, into MRI Contract Intelligence with superior features and functions. 

Let’s see what it can do for your real estate business with the information we learned in Ascend 2023. 

A Patented Technology

MRI Contract Intelligence is a patented technology. It leverages deep learning algorithms to learn from examples. 

In comparison, other tools use specific rules to serve their purpose. 

As a result, MRI is suitable for complex and nuanced data extraction from leases. It can even surpass human efforts and manual data extraction in efficiency. 

The platform has five patents in different countries to prove its value. 

The proprietary technology can be trained by businesses to meet unique requirements. It can decipher data from even the most complex documents by recognizing patterns and layouts. 

The solution also comes with improved optical character recognition (OCR) technology. It can even deal with nuances of image-to-text extractions. 

Save Time and Costs

MRI can scan and extract data from a range of documents. The list includes PDFs, handwritten pages, images, and more. 

Most importantly, the platform categorizes and sorts data based on essential factors like dates, financial details, and terms. 

Additionally, you can review leases automatically. It can reduce your review time by 50% - 75%. 

Your manual abstraction costs can also come down by up to 50%.

Make Well-Informed Decisions

MRI uses AI and ML to review leases comprehensively. It can detect hidden terms and clauses in leases to provide complete visibility. 

As a result, businesses can be aware of their obligations from the beginning. There is no scope for any misunderstanding. 

Additionally, MRI Contract Intelligence can assess the risks that come with every contract. You can generate insights on:

• Operational risks

• Legal risks

• Financial risks

Being aware of risks helps you avoid unpleasant surprises. You can take timely steps to mitigate risks and turn the disadvantages in your favor. 

All the data helps you make informed decisions and prevent revenue leakage. 

Contract Management

Managing contracts can become a challenge for real estate agencies. The challenge may increase when you are dealing with countless contracts simultaneously. 

MRI allows you to manage your contract lifecycle like a pro. It acts as a central hub to store all your contracts and essential information. 

Additionally, you get all the features and tools to manage your entire contract lifecycle. It is also possible to automate workflows like:

• Approvals

• Contract creation

• Archiving

• Renewal notifications

MRI is the perfect solution to streamline your contract management and stay on top of all vital obligations. 

Intuitive Information Retrieval

Real estate agencies must be able to access the correct data at the right time. MRI Contract Intelligence provides advanced search capabilities and retrieval features never to let you worry. 

You can search for information by using keywords or folders. It is also possible to locate data using a structured data format. 

You can also create custom calendars and reminders never to miss important tasks. 

Most importantly, you can use natural language to look up information. There is no need to remember exact file names or data. 

MRI Contract Intelligence - The Perks

MRI can transform your contract management into a visible and intuitive process. You can also enjoy benefits such as:

• Accurate and high-quality data

• Leverage source-based data for informed decisions

• Automate workflows to save time

• Identify cost-saving opportunities

• A complete audit trail for full transparency

Leverage MRI Contract Intelligence

MRI Contract Intelligence can be a game-changer for your real estate agency. Assetsoft can help you choose the right technology stack to gain a competitive advantage. We can also ensure a seamless implementation and provide necessary staff training. Our team is also expert at integrating MRI with a range of solutions. Contact us today to learn more about our services.