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Can Prophia extract old, difficult-to-read documents?
Yes! Prophia’s advanced Optical Character Recognition (OCR) technology is designed to handle even the most challenging documents. Whether it’s a freshly printed lease from last month or a 30-year-old contract with smudges, handwritten notes, or faded ink, Prophia extracts valuable data with precision. -
How many terms does Prophia abstract?
Prophia abstracts lease data at two distinct levels tailored to meet the needs of modern CRE teams. The free version, Prophia Abstract, quickly pulls around 20 essential lease terms, making it ideal for those who need a fast and efficient way to access the most critical data.
For more robust portfolio management, Prophia Pro extracts over 215 key lease terms and integrates them into an interactive web-based lease administration platform. This advanced solution goes beyond a static abstract by organizing lease data into a searchable, exportable format, paired with tools like visual dashboards, reporting capabilities, and portfolio-wide insights—all powered by state-of-the-art AI. Whether you're looking for quick overviews or comprehensive lease intelligence, Prophia has you covered.
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What is the accuracy?
Prophia Pro: With 99% accuracy, this advanced solution combines industry-leading AI with expert human oversight. Each abstracted term undergoes meticulous verification, ensuring customers have total confidence in their lease data for critical decision-making and reporting.
Prophia Abstract: This free, AI-only tool provides quick results without human review, offering users the flexibility to review and edit the data themselves. While its accuracy relies solely on AI, it enables rapid access to lease data, allowing users to tailor and refine outputs as needed. -
Does Prophia integrate with other systems?
Prophia integrations are available exclusively through the Prophia Pro. product. Customers can easily export data into CSV or PDF formats or leverage Prophia’s robust API to sync lease data with third-party databases. Additionally, Lease Intelligence offers custom integrations with platforms like Yardi and MRI, enabling seamless data transfer into these widely used property management systems. -
What document types does Prophia support?
Prophia currently supports PDF documents for abstraction. Prophia's powerful AI can transform even the most challenging lease documents into structured, actionable data with minimal human intervention. Though we do store other files types, we will not abstract them if they are not in PDF format. -
Which property types does Prophia support?
Prophia is optimized for the needs of commercial real estate professionals requiring abstraction of agreements related to retail, office, and industrial properties. We do not support residential or multifamily leases at this time. -
How many users can we have on an account?
Answer applicable to Prophia Pro: 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?
Answer applicable to Prophia Pro: Yes. You have the ability to customize the permissions of each user on your account. -
How long does it take to abstract a lease?
For Prophia Abstract, the lease abstraction is delivered quickly—typically within 5-10 minutes after document upload. Our advanced AI works swiftly to generate a comprehensive abstract, allowing you to begin leveraging key insights almost immediately.
With Prophia Pro, data is available within minutes via AI/ML processing after the lease document is uploaded. However, to ensure the highest level of accuracy and reliability, a quality review process is completed within one to three business days, combining AI precision with expert oversight. -
What happens if I would like to capture a data point that Prophia does not currently pull?
If you'd like to capture a data point that Prophia does not currently abstract, you can easily set up custom tags and annotations in Prophia Pro. This feature allows users to add their own specific data points to leases, ensuring that all the critical information you need is captured and tailored to your business requirements. -
How does pricing work?
Prophia offers packages for instant abstracts, acquisition due diligence and ongoing lease management. Depending on your requirements, Prophia offers pricing on a per-document or per-square foot basis.
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. For Prophia Pro customers, 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?
Prophia Pro transforms lease abstraction into a dynamic, interactive experience. Unlike traditional services, which provide static documents, Prophia’s solution offers a living, real-time lease abstract. This means dates, terms, and other crucial data automatically update based on triggers, offering a continuously evolving, linked lease data set. With this feature, users can easily verify details by accessing the source document directly from the abstract, ensuring accuracy and saving time. It’s more than just an abstract—it's a comprehensive tool for managing and tracking lease data with real-time relevance.
On the other hand, Prophia Abstract offers a more traditional approach, similar to the abstracts provided by service firms. It’s a snapshot of a single document from a specific moment in time, ideal for quick, instant insights. While it doesn’t provide the same dynamic updates or interactivity, it offers the simplicity and speed of getting critical information fast.
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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?
With Prophia Pro 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 Pro 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.