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Can Prophia extract old, difficult-to-read documents?
Yup! Prophia’s advanced machine learning (ML) and human review techniques are able to recognize and synthesize over 200 CRE terms. It doesn’t matter if the document was created a month ago or over three decades ago, Prophia treats pristine lease contracts and those with smudges and handwritten notes in the margins as equals…just as long as they’re in PDF form! -
What is the accuracy?
We perform our own accuracy due diligence against every CRE document that is uploaded onto the platform. This includes accuracy checks performed by the AI itself as well as due diligence performed internally by our team of CRE experts and customer advocates.
Once a document is cleared and any outstanding notes and tasks are reviewed and closed by Prophia’s team, all lease summaries and reports are populated with hyperlinks that lead back to the original source document. The ability to update and upload renewals, amendments, or concepts also ensures all Prophia-synthesized data is accurate throughout the life of on-going contracts.
With these checks and balances in place, Prophia is able to maintain over 99% accuracy in its data. -
Does Prophia integrate with other systems?
Yes. Prophia is committed to getting customer’s data wherever it needs to be. In addition to downloading data into CSV and PDF, customers can export their data via Prophia APIs to third party databases, or leverage custom integrations that Prophia has with Yardi and MRI to push data into those systems. Prophia is also committed to partnering with other institutional CRE tools to better serve our customers, so this list will only continue to grow. -
What document types does Prophia support?
PDF file. We can store other file types but do not process. -
Which property types does Prophia support?
Any property within the Retail, Office or Industrial asset classes. -
How many users can we have on an account?
There is no limit, as we do not charge per user. You can give access throughout your organization (asset management, leasing, accounting, legal) as well as operating and equity partners, third-party property managers, leasing agents, etc.
Already a Prophia user? You can adjust your user settings here: Prophia User Settings Support. -
Can we control who has visibility into certain assets?
Yes. You have the ability to customize the permissions of each user on your account. -
How long does it take to abstract a lease?
Data is available in minutes from our AI/ML after uploading. It takes one to three business days to complete the quality review process. -
What happens if I would like to capture a data point that Prophia does not currently pull?
Users can set up custom tags and annotate themselves. -
How does pricing work?
Prophia offers packages for both short term acquisition due diligence as well as ongoing portfolio management. Depending on portfolio makeup, Prophia is priced per tenant or square foot, both of which include an unlimited number of users.
Find out more about Plans & Pricing, here. -
Is Prophia a recoverable expense?
Ultimately, the treatment of Prophia as a recoverable expense depends on the client's specific circumstances, platform usage and lease language. Clients do have the opportunity to code Prophia for both recoverable activities (property management purposes) and non-recoverable activities (leasing, portfolio/asset management) and owners may exercise discretion to select the most appropriate split in their instance. Most often, Prophia is coded as a recoverable administrative expense, such as computer & software expenses, licenses & fees or similar account.
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How long will it take to upload an entire portfolio?
This depends on the size of the portfolio and the newness of the client. On average, our team is capable of abstracting about 15-30 tenants per day, however, if we are already familiar with the assets in a portfolio, like in the case of an expansion with an existing customer, our team could be capable of abstracting at a slightly higher capacity. -
How does Prophia's output compare to professional service firms?
As an integrated AI platform, we understand the importance of enhancing the human expert behind data interpretation, we just use advanced machine learning to get there a lot more efficiently than any professional service provider out there.
Consider the annotation process as lease abstraction. After all the tags are annotated for an asset, all the data can be automatically consolidated to the stacking plan, rent roll, encumbrances, and critical reports. The data will also feed into the account’s portfolio report which can be used to query any information for the whole portfolio.
These efficiencies and the data accuracy allow us to offer CRE professionals a faster, accurate, tech-focused approach that manual, third-party services just can’t match.
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Who are the typical users?
A typical Prophia user is someone who works within the management of CRE assets. Most commonly Asset Managers, Property Managers, Leasing Admins, and Brokers regularly use the platform to automate lease abstraction, generate in-depth reports, track encumbrances, important dates, and more. See our top user profiles below:
Asset Managers
Property Managers
Leasing Administration
Brokerage -
Who is responsible for updating the data?
Customer data (and reports) automatically update whenever a new document is uploaded and processed. Once all building documents are uploaded and synthesized, users can easily run reports at portfolio, asset, building, and tenant-levels of their lease data. Reports are updated automatically daily. -
Who owns the data once it’s uploaded onto the platform?
Customers always own and control their data. -
What security measures are in place to protect our data?
Prophia is certified for SOC 2 security criteria and we do not share user information with any third party. Additionally, Prophia is hosted at AWS which is an industry-leading logical and physical security platform and we are always committed to adhering to the latest security standards.
Prophia Security Standards -
How does Prophia handle user privacy and authentication?
Prophia offers two-factor authentication and SSO as options for customers looking for additional levels of security.
Prophia’s Privacy Policy -
Are Prophia reports customizable?
Yes, Prophia reports are highly customizable. Users can generate reports at different levels of their CRE data and those reports can be modeled to show data in different dimensions. For instance, the platform automatically generates rent roll reports at your building level, but users can also manipulate the columns of their lease report to create a custom report at the portfolio level that resembles a rent roll. This data dimensionality makes every Prophia report very custom.
User’s can also capture data points that uniquely pertain to their organization’s data needs, and enhance the lease abstract. This Custom Data Capture is just another way Prophia supports the data needs of our clients—even beyond the traditional offerings of the platform.