High street retailer Sports Direct says a deal with the AI data extraction supplier is set to improve the efficiency and quality of its lease management for 750 stores across Europe.
As part of the contract, Leverton says its deep learning technology helps the FTSE-listed retailer easily identify, access and extract relevant lease information: presenting data from documents in multiple languages from sites across continental Europe in an easily-digestible format, including events such as rent reviews, expiries and alienation.
And the firm says this can be done faster and more accurately than before, with a spokesman adding the technology commonly cuts time spent on these tasks by up to 70%.
Richard Belgrave, global sales director at Berlin-headquartered Leverton, said: “We are proud to contribute to the growth and success of Sports Direct… and have really highlighted our platform’s capabilities in data extraction from non-English leases on behalf of corporates.”
While Tom Piper, Sports Direct legal counsel for property, said: “Leverton’s software has allowed us to extract and scrutinise key lease events across our European portfolio, which will enhance the quality and efficiency of our lease management process.”