Case Study

Parking Services Provider Presents Stellar Deck in 8 Days By Outsourcing Abstraction Services

The Client is a leading US parking facility management services provider. They manage over 1,000,000 parking spots and the subsequent logistics and enforcement involved.

  • Challenge

    • The Client needed to present consolidated data for 60 lease abstractions to their management team and CEO, in just 4 days
    • The Client was short-staffed in the legal department
    • This project required sensitive abstracted data that the Client needed in order to fulfill their responsibilities as a Lessee
    • The Client needed to know their rights & obligations towards other parties in the lease abstractions

  • Solution

    • The Client reached out to LegalEase Solutions to work on their abstractions, which needed to be processed urgently
    • LegalEase Solutions presented the Client with the Lease Abstractions Solution
    • LegalEase Solutions, in conjunction with their technology partner, created an in-built customized template for the Client
    • LegalEase Solutions utilized their tech partner's AI technology to identify and obtain relevant abstraction data for each of the fields
    • The Client gave LegalEase Solutions their lease abstraction templates, which included various fields for abstraction ranging from 15 to 25 fields

    Each lease was between 10-90 pages long. The Client needed specific inputs from the lease regarding fields including

    • indemnification
    • landlord and tenant’s obligations
    • terminations rights
    • abatement

    Benefit
    1. Timely delivery
    2. Substantial cost savings
    3. Lightens load on resources
    4. Client can make better informed business decisions with color-coded Excel sheets

  • Result

    • The LegalEase Solutions team completed 105 lease abstractions for the Client in just 8 days
    • LegalEase Solutions delivered almost 70 priority leases within only 4 days
    • The Client enjoyed significant cost savings by using the LegalEase Solutions Contract Abstraction solution
    • All relevant data for each lease was consolidated into a central color-coded document
      • This document can be used to keep track of any expiry or renewal requirements
      • The actionable Power BI dashboard provides insights and facilitates business decision-making, based on the risks highlighted in the consolidated sheets

    Post-Delivery Success

    • The Contract Abstraction service saved the Client 3 days worth of work
      • The Client retained specific data sets that fall under the respective field, which helped with their business decision-making process