Data Sieve™ application helps simplify and accelerate data extraction for leases
Data collection and quality represents a critical phase of your leasing lifecycle. We have developed a process supported by Data Sieve, a suite of technology tools to help accelerate the import, extraction, validation, and migration of data within your lease portfolio. This process combines our accounting and industry knowledge with advanced Data Sieve technology to translate lease agreements into a reliable format to populate the future system data model.
Extracting data from leases
PwC can use Data Sieve to quickly and efficiently extract terms and clauses from your lease agreements. Data Sieve uses advanced technologies such as natural language processing and machine learning, combined with a proprietary lease ruleset and term inventory developed by our leasing professionals. These technologies help simplify building a digitized repository of searchable lease terms.
Data quality validation
Once the extraction process is complete, Data Sieve provides a platform for data cleansing. Working with your team, our leasing professionals use an iterative review process supported by customizable metrics to assess quality and prioritize leases for investigation, resulting in cleansed and structured data for migration to your existing or new system(s).
Data Sieve helps simplify and accelerate data extraction for lease management.
Streamlined data migration
Data Sieve has been configured to align data outputs with select lease management solutions, including:
- CoStarTM
- LeaseAcceleratorTM
- NAKISA(R)
Our alliances with each of these software solutions allows you to work with PwC to extract data from your leases -- concurrently with your system selection or implementation -- knowing that the data output will align with any of these solutions.
Don’t see your preferred software solution listed? Configuration with additional systems may be arranged on demand. Contact PwC for details.
Impact modeling
PwC’s Data Sieve uses a proprietary engine to calculate an approximate impact of the new standard for transition years based on extracted lease elements. You receive a high-level estimate can help begin development of disclosures and to start the dialogue with stakeholders or investors about what to expect.
Reporting and analysis
The output from Data Sieve can provide the data needed to produce value-added insights on your lease portfolio. PwC can work with you to develop interactive dashboards that generate analytical results to quantify and highlight potential operational improvement opportunities.
The PwC advantage
- PwC’s accounting and leasing professionals create proprietary rulesets that are continually improved through collective usage.
- Machine learning helps streamline data gathering and can potentially reduce time to decision.
- PwC’s professionals monitor the lease agreements scanned by Data Sieve to help manage output.
- Data trail can trace decisions made and provides data lineage back to the source agreements.
- Increased visibility into lease portfolio helps drive operational improvement opportunities and potential cost savings.
About PwC Advanced Risk and Compliance Analytics
Data Sieve was developed by PwC’s Advanced Risk and Compliance Analytics Solutions practice, which provides people, process, and technology solutions to help you navigate an increasingly data-driven business world. We can advise you on optimizing your data, improving your information-management practices, and structuring your models to detect the issues most relevant to your business. We help you apply advanced analytical tools and techniques to comply with regulations, continuously monitor key risks, and extract insights from data.
