Technology – The Property Market in a Digital Age.
Right now is such an exciting time for the Property Industry. Long has this sector resisted changing its established methods and procedures, but now there are signs that it is finally ready to fully engage with the Digital Age. We at Recept are now seeing ideas getting properly discussed, passed and actioned that were first suggested and talked about 20 years ago.
With all kinds of innovative technology initiatives looking to facilitate faster and easier processes throughout the Property industry, Recept has been in the game long enough to not only hear of these initiatives, but truly understand which ones properly address the issues and would have the most positive impact. Our experience allows us to offer a bespoke consulting service, specifically tailoring current trends and initiatives to the needs of your business.
At the forefront of these technology initiatives is the buzz around the application and harnessing of artificial intelligence technology to improve business systems. It is something justifiably attracting a lot of excited attention.
Recept are therefore extremely pleased to have found a game changing application for AI technology to enhance our experienced, yet innovative approach to property management and administration.
Formerly a manual, time consuming process, lease reading has always been viewed as a necessary, cumbersome and expensive aspect of due diligence and property management. Something perhaps that has also had to be undertaken several times as part of different company transactions and\or objectives. However, there is now deep learning software that not only enables swift, error free reading of critical property documents, it also learns as it goes, reading and abstracting data and automatically linking lease clauses, uploading that to management, accounting and valuation systems and making the pursuit of information quicker and easier. The resulting data can then be held and interrogated indefinitely.
With our help and experience this machine reading process can be tailored to your company’s specific needs and unless there was a significant change in your requirements, would only need running once. As a result, the material cost savings over time are significant.
Recept has been working closely with software developers Leverton, to help finesse their advanced machine reading technology specifically to meet the needs of the UK property market. We can therefore now add a whole new level of support to your business - strategic planning, system and process design, data set customisation, implementation and technical support to specifically bespoke the Leverton platform to your individual requirements.
Not only that, but having high quality, verifiable data available opens the door to emerging technologies such as Blockchain, which could also prove transformational.
Recept is confident that current technological advances represent a thorough evolution of the way the UK property market manages itself. With our experience and advice, we can ensure your company evolves with it.
We would be delighted to explain further, so do contact us for a demonstration and preliminary discussion.