With the help of MaxinAI, ExtractHD, a document extraction platform, was able to offer a solution that scans documents and extracts text, saving hours of manual labor.
Challenge
Property managers must process and file mountains of paperwork related to their properties. This information needs to be kept searchable and accurately indexed for compliance reasons as well as to provide an audit to their landlord clients.
- Approximately 20% of the working day is spent searching, indexing and managing property information.
- Across an organisation this adds up to hundreds of thousands in cost annually.
This can be a time-consuming and tedious process. Therefore, property managers are using intelligent automation to reduce manual work and gain more control over their data.
The solution is AI data extraction tool that can extract, categorize and index all kinds of property data. This can help save time on documents and keep all data easily accessible via one platform.
ExtractHD – capturing property data in seconds
Rentancy is a UK company providing property management software that automates the role of the property manager. Because of this, the Rentancy team partnered with MaxinAI to offer a solution based on Artificial Intelligence, ExtractHD.com, was created to automate property document extraction with high accuracy, saving thousands of dollars and man-hours.
How does ExtractHD work?
ExtractHD is a website, run by Rentancy and uses the technology of MaxinAI.com, where users can upload an image of a gas certificate or other property documents and automatically extract the necessary fields which can then be turned into renewal reminders and key data.
Our team provides ExtractHD with a technology based on Optical Character Recognition (OCR) and Natural Language Processing (NLP) that uses smart algorithms to analyze the information within physical documents, making it possible to understand the data contained in these documents and digitize them in seconds. The data is later connected to the corresponding tag in the system (name, invoice number, start date, etc.).
Who can benefit from this solution?
- Property Managers
Managers must focus on important tasks, but often in the property industry, these same managers are bombarded with mountains of repetitive tasks related to extracting data from documents. However, ExtractHD returns this time to managers with intelligent automation. - Property teams
ExtractHD digitizes all documents and can be accessed from any device, improving productivity and facilitating the exchange of information within the team. - Tenants
With the help of the software, tenants have access to organized information in a snap of fingers, reducing workload and eliminating surprises. - Anyone who dislikes monotonous work
Here is what the process looks like:
- Upload
Upload a scanned version of a physical document. - Process
ExtractHD will process documents using NLP Deep Learning models, making sense of your document text for further data extraction. - Extract
The key data will be extracted from documents and connected to the corresponding tag (name, invoice number, start date, etc.). - Save Money
Automating the above-mentioned process will free around 30% of the workday for workers.
How ExtractHD simplifies daily life for property managers
Spending time storing, inspecting and analyzing stacks of documents can take many hours. In today’s competitive environment, spending time searching for information that can be found in seconds can be interpreted as wasted. This is exactly what ExtractHD wants to eliminate. Here are the benefits one gets with the software:
- Increased productivity
Instead of manual data entry, one can focus on the tasks that really matter to them or their business, resulting in increased productivity. - Accuracy and Speed:
With ExtractHD, data extraction from property documents can be done more accurately and in a matter of seconds, eliminating human error. - Reduced costs
People detest repetitive work so much that they are even willing to hire someone else to do these monotonous tasks. Automating this process and saving time will ultimately be more economical for the user.
Range of property-related documents that ExtractHD can process with our dedicated AI engine
People who are dedicated to the real estate sector know the immense amount of documentation that must be faced sometimes even daily. ExtractHD made this struggle a thing of the past and with MaxinAI’s solution, offers automatic data extraction from documents such as:
- Gas Certificate
- Energy Certificate
- Electricity Certificate
- H&S Survey
- Tenancy Agreement
- +Many More
The smarter way to handle your documents
The collective partnership of MaxinAI and Rentancy resulted in an innovative solution that combats ineffective manual work and with automated data extraction, returns control of time and decisions back to people.
With MaxinAI’s smart technology, ExtractHD is successfully operating in the data extraction industry, as its software extracts data with the highest precision so users can rest easy and spend their precious time on the things that really matter.
If you are interested in partnering for a specific project, where MaxinAI leads technology development and your company is responsible for business development, schedule a free call with our experts, we are open to partnerships!
P.S. in case of mutual interest, we offer a pilot project at no cost so it does not cost you anything to test our solution.
