Users begin by gathering and uploading all relevant lease agreements, amendments, and supporting documents to the Prophia platform via a secure drag-and-drop interface, supporting over 40 file types.
Prophia’s proprietary AI processes the uploaded documents, extracting nearly 215 CRE-specific data points such as lease terms, tenant information, key dates, and custom fields within seconds.
CRE experts review the AI-extracted data, refine tags, identify missing information, and assign confidence levels. A second human review ensures further accuracy, and detailed reports are generated to help reconcile any discrepancies.
The Prophia team works directly with the client within the platform to resolve any minor discrepancies and incorporate unique organizational insights, ensuring the data accurately reflects the client’s portfolio.
Once data is validated, users can explore their lease information through Prophia’s dynamic, cloud-based visualization platform, utilizing tools like stacking plans, customizable dashboards, and real-time reporting.
Prophia offers a high degree of customization to align with specific business needs in the commercial real estate (CRE) sector. Its platform is designed to adapt to various organizational requirements, ensuring flexibility and scalability. Here's an in-depth look at how Prophia can be tailored to fit unique business demands:
Custom Tags and Annotations: Users can define and apply custom tags to capture data points not automatically extracted by Prophia's AI, ensuring that unique organizational requirements are met.
Report Personalization: Prophia Essentials allows users to generate reports at various levels—portfolio, asset, building, and tenant. Reports can be customized to display data in different dimensions, such as rent rolls or lease abstracts, tailored to specific business needs.
Role-Based Access Control: Administrators can set granular permissions, controlling who has visibility into specific assets or data points. This ensures that sensitive information is accessible only to authorized personnel.
API and Third-Party Integrations: Prophia offers robust API capabilities, allowing seamless integration with existing property management systems like Yardi and MRI. This ensures that data flows smoothly between platforms, reducing manual data entry and errors.
Customizable Dashboards: The Prophia Portfolio package provides interactive dashboards that can be tailored to display key performance indicators relevant to your business, such as occupancy rates, lease expirations, and rent growth.
Unlimited Users: Prophia does not charge per user, allowing organizations to provide access to as many team members as needed, including asset managers, leasing agents, and third-party property managers.
Prophia offers a suite of training and support resources designed to ensure new users can effectively leverage its AI-powered lease management platform. Here's an overview of the support and training options available:
Prophia provides a structured onboarding process to facilitate a smooth transition for new clients:
Guided Implementation: New users receive step-by-step guidance on uploading lease documents and utilizing Prophia's AI-powered abstraction tools.
To support continuous learning and user autonomy, Prophia offers various self-service resources:
FAQs: A comprehensive FAQ section addresses common queries about Prophia's technology, services, and security measures.
Video Tutorials: Prophia provides a collection of product videos and self-guided tours to help users understand platform features and functionalities.
For continued assistance beyond onboarding, Prophia offers:
Customer Support: Users can submit support tickets through Prophia's contact page for any technical issues or inquiries.
Prophia employs a comprehensive suite of security measures to protect client data, ensuring confidentiality, integrity, and compliance with industry standards. Here's an overview of the key security protocols in place:
Encryption at Rest and in Transit: All client data is encrypted both when stored and during transmission, safeguarding against unauthorized access and potential breaches.
Dedicated Trust Zones: Each client's data is stored within isolated environments, preventing any accidental or malicious co-mingling with other clients' information.
Unique Encryption Keys: Prophia utilizes distinct encryption keys for each client, ensuring that data remains segregated and secure.
SOC 2 Type II Certification: Prophia has successfully completed the SOC 2 Type II audit, confirming that its information security practices meet the stringent standards set by the American Institute of Certified Public Accountants (AICPA).
Hosting on AWS: The platform is hosted on Amazon Web Services (AWS), benefiting from its industry-leading physical and logical security measures.
Role-Based Access Control (RBAC): Prophia implements RBAC to ensure that users have access only to the data necessary for their roles, adhering to the principle of least privilege.
Two-Factor Authentication (2FA) and Single Sign-On (SSO): To enhance account security, Prophia offers 2FA and SSO options, adding additional layers of protection against unauthorized access.
Secure Development Lifecycle: All AI development projects follow secure development lifecycle principles, including design reviews to uphold data security requirements.
Data Handling in AI Training: Prophia employs techniques to prevent overfitting and bias in AI models by separating training and validation datasets and eliminating overly similar data during selection.
Confidential Document Handling: Physical records are labeled "confidential" and are securely stored and disposed of, including secure wiping of hard drives and destruction of physical copies.
Prophia employs a dynamic update system designed to ensure that your commercial real estate (CRE) data remains accurate and current. Here's an overview of how updates are managed:
Prophia platform is structured to provide immediate data updates in response to user actions:
Automated Data Refresh: When new documents are uploaded and processed, Prophia's AI-powered system automatically updates the relevant data fields. This ensures that lease information, reports, and analytics reflect the most recent inputs without manual intervention.
Daily Report Synchronization: Reports generated within Prophia Essentials are synchronized daily, capturing any changes or additions to the data. This daily refresh cycle maintains the integrity and relevance of your reports.
Prophia's update mechanism combines artificial intelligence with human oversight to maintain data accuracy:
Document Upload: Users upload lease agreements, amendments, and other pertinent documents to the platform.
AI-Powered Abstraction: Prophia's advanced AI extracts and structures data from the uploaded documents, creating detailed digital abstracts.
Expert Review: A team of real estate contract experts reviews the AI-extracted data to verify accuracy and ensure that nuanced terms are correctly interpreted.
Collaborative Finalization: The Prophia team collaborates with clients to reconcile any discrepancies and incorporate unique organizational insights, tailoring the data to specific business needs.
Prophia places a strong emphasis on data ownership and portability, ensuring that clients maintain control over their proprietary information while facilitating seamless integration with other systems.
During the onboarding process, Prophia collaborates closely with clients to review and validate the data captured by its AI system. This collaborative approach ensures that clients have a clear understanding of how their data is handled and reinforces their ownership over the information.
Prophia publicly available resources do not detail specific terms and conditions regarding contract renewal and cancellation. However, based on standard practices in the software-as-a-service (SaaS) industry, some general expectations can be outlined:
Automatic Renewal: SaaS agreements often include automatic renewal clauses, where contracts renew for successive terms unless either party provides notice of termination within a specified period before the current term ends.
Notice Period: Typically, a written notice is required 30 to 90 days prior to the renewal date to prevent automatic renewal.
Pricing Adjustments: It's common for providers to reserve the right to adjust pricing upon renewal, with prior notification to the client.
Termination for Convenience: Clients may have the option to terminate the agreement for any reason, usually with advance written notice as specified in the contract.
Termination for Cause: Either party can terminate the agreement if the other party breaches a material term of the contract and fails to remedy the breach within a specified period after receiving notice.
Refunds and Outstanding Fees: Terms regarding refunds for unused services or obligations to pay outstanding fees upon termination are typically outlined in the contract.
To obtain precise information regarding Prophia's contract renewal and cancellation policies:
Review the Contract: Examine the specific terms outlined in your service agreement with Prophia.
Contact Prophia Directly: Reach out to Prophia's sales or customer support teams for detailed information tailored to your agreement.
