HARNESS Property Intelligence launches PDF extraction product
HARNESS Property Intelligence, a specialist in CRE data intelligence, has launched a PDF data extraction product.
HARNESS says the PDF Extractor (PDFx) is a commercial real estate industry first due to its unique capabilities, specifically the ability to understand data contained in complex form including tables of tenancy schedules. The solution can address match and cross-reference extracted addresses against Unique Property Reference Numbers and beyond to provide additional confidence and enhance the accuracy of a user’s records.
It has been built in response to the CRE industry’s need to access data held in PDF investment brochures, tenancy schedules and marketing brochures, and has already garnered interest from some of the largest CRE players in the market.
Manual data extraction is often inconsistent and time and cost intensive. The HARNESS PDF Extractor solves these issues, allowing clients to commercialise valuable extracted data sets at a significantly faster pace and with market-leading accuracy. Trials found it can extract 1,200 PDFs in the time it takes a human to complete one. As PDFx is available as a self-service platform, users can instantly access this valuable data when they need it to fit in with their deal flow process, for example.
PDFx semantically understands the language of real estate, and while generic PDF extraction exists, the proprietary algorithms developed by HARNESS are trained explicitly for CRE industry needs. Further, the ability to extract complex table structures, along with data validation and market-leading address matching, means it has the most advanced PDF extraction capabilities available for commercial real estate application.
Ben Mein, CEO of HARNESS Property Intelligence, says: “Feedback from the market about our PDF Extractor product is that we have proven a capability that no one else has, and it has been built to help the market with its digital transformation journey.
PDF data extraction has been a long-standing bugbear of the industry, and our solution utilises the best in machine learning to considerably reduce the friction of data use, whilst saving time and money for users. Most importantly, the self-service platform allows for a client to instantly access and unlock valuable data from investment brochures at the point of need to enhance their revenue potential.”