ADEx Delivers Outstanding Lease Abstraction Results, Tackles the Broader Real Estate Industry
AI-driven Document Automation expert ADEx announced expansion into the real estate family verticals to help companies reduce costs and handle greater business demands in light of talent shortages. The pre-seed startup company will now offer its intelligent document automation platform broadly to companies in the real estate industry. Document processing replaces tedious manual workflows that plague CRE investment professionals, portfolio managers, property management, lease administrators, mortgage lenders, loan servicers, commercial brokers, title and escrow officers.
With the ability to apply secondary calculations that reduce human in the loop requirements, and automatically capture images, tables, signatures and site maps from documents, whether they are digital, scanned or handwritten, ADEx lease abstraction capabilities far surpassed client expectations.
“With 250+ properties and 900+ tenants, ADEx has become a critical part of our systems,” said Ben Shalz, Sr. Property Manager at TOK Commercial.
ADEx’s capabilities leverage deep experience processing over 7 million documents, handling over 2,000 real estate document types and automatically extracting over 4,000 data points, eliminating more manual processing compared to other IDPs.
“On the heels of success from our Lease Abstraction offering, it is now time for us to tackle the heavily document driven processes that plague the broader real estate industry,” commented Arian Nemati, CEO and serial entrepreneur who co-founded ADEx in 2019.
To date, ADEx’s purpose-built tools and calculators have achieved over 95% data extraction coverage and performed automated lease abstraction 4x faster. In a client benchmark study, these results generated time savings of up to 8 hours per week for the average team member.
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Founded in 2019, ADEx first tackled the painstaking process of lease abstraction for Fortune 500 companies before turning their attention to industries heavily burdened with document driven processes: commercial real estate investing, lending and portfolio management. ADEx’s cognitive document processing solutions deeply understand the contents of documents and relationships between them, providing more accurate and effective data extraction and document organization to drive insightful decision-making, accelerated workflows, and increased employee effectiveness.