A New AI Approach: Bringing Specialized Software to Existing Workflow

Artificial intelligence seemingly is everywhere you turn in commercial real estate. Proptech companies line up to announce how deeply and broadly they’ve integrated AI in what they’re doing, often without being too specific about exactly what it’s supposed to be doing for users.

More importantly, perhaps, is that such somewhat mysterious capabilities are available only in suites of software that require the embrace of the vendor’s world. That is often impractical for firms that have an existing workflow with software already licensed. Throw out what you have to install some promising behemoth? Thank you, no, let’s go back to firing up that reliable spreadsheet.

Sticking with what you have may be the entirely wrong choice in a larger context. You might be limiting yourself from potential benefits. And yet, to toss the old, bring in the new, get it installed, train everyone, and rework long-established habits and workflow requires money, time, business disruption, and effort for the promise of something better. Many companies are wary for good reason.

Which is why the approach that construction contract analysis vendor Document Crunch has taken an old and interesting direction. Smaller companies with focused offerings used to be more active in providing ways to integrate their capabilities into commonly used tools. They might have an addition to Microsoft Office products, later to a platform like Salesforce. You import the capabilities into what you’re already using.

Consider what Document Crunch has done with its Word app.

“Document Crunch for Word, which was designed with contract review professionals from legal to executives in mind, empowers users to streamline contract analysis, right in the environment where most redlining is done,” according to the company. “This extension offers Document Crunch’s core functionality within Word allowing users to better identify critical contractual clauses, assess risk factors, and facilitate efficient redlining with industry-specific sample language. This approach eliminates the hassle of manually tracking and identifying critical clauses, leading to more efficient negotiations and risk assessment.”

The important phrase is “right in the environment where most redlining is done.” That could instead be the environment, like a spreadsheet, where types of financial analysis is done. Or a customer relationship manager (CRM) product where you’re already tracking such interactions.

Vendors that want to be an all or anything might reconsider their approach and instead begin to offer pieces that work within someone’s workflow. They wouldn’t make the big sale right away, but could set the grounds for an eventual one after a customer becomes acclimated to the new abilities and then is interested in further ones that require a larger change in software and operations.