Savills Studley announces AI partnership with Leverton
Savills Studley’s Knowledge Cubed, the firm’s portfolio analysis technology designed for global real estate occupiers, will use Leverton’s AI technology to help portfolio managers save time and business costs through improved design and performance of property portfolios.
Savills Studley is a US branch of UK company Savills, focusing on tenant representation. The real estate company first tested its joint platform with Leverton in an application that landed CoreNet Global’s 2017 Innovator Award. In a new formal partnership, Savills Studley will deploy Leverton as one of the interconnected apps in Knowledge Cubed.
A business can now input PDFs of leases and amendments into the Leverton app, Knowledge Cubed, which recognises, structures and stores key property metrics. Compared to manual data entry and structuring, Leverton claims its AI technology will reduce the duration of the process by approximately 30%. Knowledge Cubed’s analytical frameworks then translate the data into visualisations that provide occupiers with a complete snapshot of an organisation’s corporate real estate holdings.
Savills Studley and Leverton believe their product will save months of human capital on data entry, and provide structured insight into portfolios.
Patrick McGrath, CIO of Savills Studley, explains: “Portfolio managers spend several hours a week performing data entry, customising and integrating data with traditional tools like Microsoft Excel and Powerpoint in advance of strategy meetings with senior executive teams. Now with a single click or tap, occupiers can examine their business from any angle — whether it’s the operating costs of an entire portfolio or maximising value at a single property.
“The time saved in obtaining robust real estate intelligence enables portfolio managers to fast forward to driving strategy, identifying value and strengthening decision making. For Savills Studley, this tool enables us to skip ahead to the consulting side of what we do, which has saved clients hundreds of millions of dollars in occupancy cost savings.”
Abhinav Somani, CEO of Leverton said: “The dynamic capabilities of the Knowledge Cubed platform will allow our end customers to efficiently visualise and analyse the vast amounts of data that is inside their corporate and legal real estate documents. We’re looking forward to building on the work we’ve started with [Savills Studley] and providing even more insights to our global client base.”
Savills Studley’s partnership with Leverton comes on the heels of the appointment of McGrath to the role of CIO to drive innovation in occupier-focused technology for the firm. The partnership marks one of several innovations to be announced this year that will bring improved analytics and consulting to the firm’s service offering.