The Challenge: Abstracting a Large Portfolio of Leases
A multinational real estate firm was looking to abstract 1000 leases accurately to alleviate portfolio risk. However, lease abstraction and validation at the same time is a complex process which makes it difficult to ensure complete data accuracy. Moreover, usually there are about 10 to 15 clauses within each lease document, but the client had 60 clauses to abstract within each lease document, compounding the challenge further.
To address these challenges, the client was looking for a partner who could help perform lease abstraction and validation accurately at the same time, optimizing time, effort and cost. They chose to partner with Springbord based on its proven data management expertise.
The Solution: Ensuring Accurate Data Validation
Springbord worked closely with the client to deliver the project as per clients requirements and objectives. The team helped effortlessly abstract 1000 leases within a span of two months. Adopting a novel approach in abstracting the leases underpinned by markup method, we ensured that the quality of data is not compromised, while maintaining consistency.
The team of reviewers analyzed the lease documents and identified critical data points while the abstracters performed data entry. This helped efficiently capture all the intricacies and manage the abstraction process accurately and cost-effectively.
Results: Achieving Accurate and Cost-effective Lease Abstraction
Springbord lease abstraction services helped the client accurately abstract and validate a large portfolio of leases within a short span of time and drive desirable outcome. Some of the key benefits that the client derived from Springbord are:
- Delivered high level of accuracy as 100% quality check was done for all abstracts to ensure delivery excellence.
- Optimized resource utilization through a committed team with the right skills and process expertise managing the end-to-end process.
- Provided significant cost advantage by ensuring quick turnaround with fewer resources, making the process cost-effective.
Springbord is a leading global information service provider that develops custom data acquisition and processing solutions for a broad spectrum of industries. Springbord is a part of the Enerji group that offers services in the realms of data, content and design space. Our focus is to deliver business results by employing a wide range of leading Internet-based capabilities and other resources to provide efficient, relevant, and cost-effective business process outsourcing services. Our hybrid solution (human intelligence + automation) is known for the best data management solution. We have been quite successful in understanding the information needs of our clients and notably in aggregating and enriching databases. Our services have reduced costs, increased productivity, and facilitated business growth for several organizations around the globe.
If you wish to know how Springbord can help you ensure accurate lease abstraction and drive better business outcomes please click here.