Leasecake Advances AI Capabilities with New Release of Cakebot for Lease Abstraction

New technology offers an efficient and affordable solution for analyzing multiple leases and documents at once

WINTER PARK, FL / ACCESSWIRE / March 26, 2024 / Leasecake, the premier real estate and location management platform, announces an advanced update to Cakebot, its AI assistant. This enhancement introduces sophisticated features that streamline lease abstraction and maintenance, enabling users to extract key details from leases and amendments quickly.

Since its debut in 2023, Cakebot has played a pivotal role in Leasecake's mission to reduce operational risks for franchises, franchisors, and corporate-owned brands. Automating the abstraction and management of leases, Cakebot gives operators easy access to vital lease information, mitigating the risk of overlooking important contractual elements. This self-service capability enables users to manage their leases more efficiently, freeing them to focus on strategic growth and decision-making.

Bob Folsom, Director of Real Estate at Omega Fitness Holdings, a thriving Anytime Fitness franchisee, used Cakebot to abstract leases from a recent acquisition quickly and easily. "I was able to abstract leases with the needed information in 5 to 10 minutes," said Foslom. "It's a very swift tool, and I am impressed that it works across multiple documents at once. I give it 10/10 stars."

Unlike other lease abstraction tools available today, Cakebot can search multiple documents simultaneously to quickly find relevant information across leases and amendments, which enhances efficiency and streamlines the process of identifying critical clauses such as exclusivity agreements across multiple documents.

Scott Williamson, CEO of Leasecake, underscores the vision behind Cakebot's ongoing development: "We strive to arm our customers with effective tools for lease management, enhancing their confidence and operational efficiency. Cakebot's ease of use in accessing and interpreting lease data not only streamlines processes but also substantially reduces oversight risks. This update reaffirms our dedication to innovation and our commitment to lowering operational risks, enabling our customers to focus on their core business growth."

The latest version of Cakebot is part of Leasecake's series of AI innovations, all designed to safeguard users from operational risks. By transforming complex lease data into actionable insights, Leasecake's extensive suite of AI tools affirms the company's commitment to excellence and customer success in the dynamic field of real estate and location management.

Dave Schrader, Chief Product Officer and Co-Founder of Leasecake, noted the significance of the update: "This enhancement propels Cakebot to the forefront of the industry, setting a new benchmark for lease management solutions in terms of efficiency, affordability, and reliability. Our internal use of Cakebot over the past six months has resulted in a remarkable reduction in abstraction time and effort while maintaining the highest levels of accuracy our customers rely on from Leasecake. We're confident that this tool will empower those without extensive real estate expertise to extract crucial lease information with ease, ensuring operational peace of mind."

Leasecake invites both current customers and industry professionals to discover Cakebot's enhanced features and the broader array of AI tools aimed at simplifying lease management and mitigating operational risks. For more details, please visit https://leasecake.com/solutions/artificial-intelligence/.

Contact Information

Michel Benjamin
VP Marketing
michel@leasecake.com

SOURCE: Leasecake

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