Certification Automates Mandatory Accounting Audit Filings for Real Estate Organizations in China and Facilitates Expansion of Multinational Companies into China

SOLON, Ohio – Feb. 7, 2018 – MRI Software, a global leader in real estate software solutions, today announced that MRI Version X, the company’s flagship property management and accounting software, has met all testing and certification requirements from the China Electronics Standardization Institute (CESI). As a result, MRI Version X now provides approved mandatory financial reporting for real estate organizations doing business in China, enabling clients to meet regulatory requirements without incurring time-consuming and costly system audits themselves. Additionally, global real estate investors using MRI Version X in other markets can more easily expand into China, relying on MRI’s unified platform to streamline operations and provide global visibility into portfolio performance, while supporting local country statutory and business requirements.

“The Chinese real estate market presents significant opportunity from both local investment and cross-border capital,” said Stephen Baker, vice president of global and strategic markets at MRI Software. “This certification demonstrates MRI’s commitment to the Chinese market, the larger Asia Pacific region and, of course, delivering solutions that provide local and global flexibility. Not only does this certification simplify auditing for MRI clients in China, but it also means that real estate owners with global portfolios can use the same MRI Version X platform across all their operations, including those in China.”

MRI Version X was certified for the National Audit Office of the People’s Republic of China (CNAO) standard GB/T 24589.1-2010. All enterprises doing business in China are required to report information to CNAO in the required XML file format mandated by this standard. Previously, users had to complete their own certification application before submitting their file; clients in China can now use MRI Version X to generate pre-certified accounting data files and send them directly to the audit office. This user-friendly regional feature eliminates costly manual process and work-arounds, as it is specifically designed to facilitate regulatory compliance in China.

About MRI Software
MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses-from property-level management and accounting to investment modeling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI liberates real estate companies to elevate their business and gain a competitive edge. For more information, please visit mrisoftware.com.

Media Contact:
Jeff Miller
LEWIS
mrisoftware@teamlewis.com
+1-541-207-3461

Appoints Russell Butler as Chief Technology Officer; Promotes John Ensign to President

Solon, Ohio – Feb 1, 2018 – MRI Software, a global leader in real estate software solutions, announced two key executive appointments today to support the company’s recent growth. Proven enterprise software leader Russell Butler has joined MRI in the newly appointed role of Chief Technology Officer (CTO), and John Ensign, an eight-year veteran on the MRI leadership team, has been named President and Chief Legal Officer.

Butler and Ensign assume their new positions at a time when MRI is growing faster than in any other period of its history, having nearly doubled in size through six acquisitions on three continents during the latter part of 2017. Butler brings three decades of successfully leading high-performance, global product development teams at Oracle, IBM, AT&T and other leading software organizations. As CTO, Butler will oversee MRI’s technology strategy and manage product innovation and integration efforts to support the company’s expansion into new geographical and vertical markets.

Ensign will assume oversight of MRI’s corporate shared services, adding global client support, finance and accounting to his previous management responsibilities overseeing MRI’s human resources, legal, facilities, M&A and Partner Connect teams. Ensign will also assume overall responsibility of MRI’s EMEA and APAC operations, which are key to the company’s future growth.

“These new executive appointments put two experienced leaders in position to support MRI Software’s recent exponential growth,” said Patrick Ghilani, Chief Executive Officer of MRI Software. “Russell’s background leading product development and strategy for some of the world’s largest enterprise software companies will enable MRI to accelerate innovation and integration of our organic and acquired solutions to improve usability, increase efficiencies and deliver greater insight for our clients while maintaining a flexible and open architecture. Meanwhile, John has long been a trusted advisor and skilled leader who excels at executing on our aggressive strategic plan. That skill set will be invaluable in his new capacity as President.”

Both Butler and Ensign will report directly to Ghilani. Complete biographies are available on MRI Software’s Leadership Team page.

About MRI Software
MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses—from property-level management and accounting to investment modelling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI liberates real estate companies to elevate their business and gain a competitive edge. For more information, please visit mrisoftware.com.

PR Contact:
Jeff Miller
LEWIS
mrisoftware@teamlewis.com
541-207-3461

London – January 9, 2018 – MRI Software, a global leader in real estate software solutions, today announced that Savills plc, a global real estate services provider, has selected the company’s web-based Version X Residential Management and accounting solutions to manage private rented sector (PRS) developments in the United Kingdom.

“We are pleased to extend our long-time partnership with MRI Software into the residential sector,” said Geoff Bather, Director and Head of Property Management Finance at Savills. “We already rely on MRI’s Version X platform to operate our commercial properties, and we could think of no better partner to support our growing residential business. Additionally, the ability to operate our commercial and residential properties – including PRS and block management – from a single, integrated software platform will streamline our operations and provide greater visibility into performance.”

Savills sought a comprehensive and open solution that can address the needs of the U.K. market and support future growth in other regions, while providing the flexibility to integrate proprietary and third-party software. MRI Software’s Residential Suite, which supports more than 7.5 million units around the world, encompasses marketing and leasing, property management, and prospect and resident portals. These residential management capabilities combined with MRI’s robust general ledger support the complete property investor lifecycle. Additionally, MRI’s open architecture and ecosystem of more than 120 technology partners enable Savills to select the solutions that best fit the needs of its clients and employees.

“The influx of investment into the fast-growing U.K. private rented sector is creating a demand for world-class software,” said Stephen Baker, Vice President, Global and Strategic Markets at MRI Software. “MRI’s long legacy of providing solutions for the multi-family sector in the United States, combined with the expertise in block management of our recent acquisition, Qube Global Software, enable us to provide an unmatched solution for service providers and investor/operators alike. We are thrilled to partner with a market leader like Savills to bring our comprehensive Residential Suite to the U.K.”

About Savills plc
Savills plc provides consulting services in connection with commercial, residential and agricultural properties, property-related financial services and investment management, which includes investment management for institutional or professional investors. Savills operates from over 700 owned and associate offices, employing more than 30,000 people in over 60 countries throughout the Americas, Europe, Asia Pacific, Africa and the Middle East. For more information, visit http://www.savills.com/.

About MRI Software
MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses—from property-level management and accounting to investment modeling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI liberates real estate companies to elevate their business and gain a competitive edge. For more information, please visit mrisoftware.com.

Contact Information:
Jeff Miller
LEWIS
mrisoftware@teamlewis.com
541-207-3461

South Africa’s largest REIT deploys MRI to simplify investment modeling and property accounting operations

Solon, Ohio – December 19, 2017 – MRI Software, a global leader in real estate software solutions, today announced that Growthpoint Properties, South Africa’s largest real estate investment trust (REIT) with reach into Australia and Europe, has selected MRI’s SaaS-based Commercial, Financial, and Investment Suites to streamline domestic and international portfolio management.

“We spent a year reviewing our investment and valuations practices and evaluating how we could best improve our operations and strategic initiatives,” said Alec Davis, Chief Information Officer of Growthpoint Properties. “The flexibility and security of the MRI platform enables us to reduce complexity in our operations and focus more on our core real estate business. The combination of industry-specific functionality, automation, and SaaS deployment options made MRI the clear winner.”

Growthpoint counts over 500 properties and more than 70 million square feet of gross leasable area in its portfolio of commercial, retail, and industrial properties across three continents. The large size and scope of its asset portfolio led Growthpoint to search for a comprehensive solution with multicurrency capabilities that could capture all aspects of its complicated business while standardizing data practices across regions and verticals.

To automate processes and improve efficiency, Growthpoint selected MRI’s Commercial Management solution, which offers web-based access to lease administration, retail management, and reporting and analytics tools. In addition, Growthpoint will benefit from MRI’s Budgeting and Forecasting, Investment Modeling, Investment Accounting, and Global Valuations solutions to streamline workflows and improve strategic planning. The new system will allow Growthpoint to reduce operational complexities, increase flexibility for users, and promote standardization and data integrity.

“Growthpoint is a hugely influential player in the South African real estate market, and we’re thrilled to have them as part of our expanding client base in the region,” said Stephen Baker, Vice President of Global and Strategic Markets at MRI Software. “Far too often, real estate companies still rely on paper-based records to manage billion-dollar portfolios and use basic spreadsheets for complex forecasting and financial modeling. Growthpoint is at the forefront of adopting automation, and we have no doubt that our Commercial, Financial, and Investment solutions will help Growthpoint better understand its business and make it an even more profitable endeavor for its investors.”

About Growthpoint Properties
Growthpoint provides space to thrive with innovative and sustainable property solutions. It is the largest South African primary REIT listed on the JSE, and owns and manages a diversified portfolio of 547 property assets, locally and internationally. Growthpoint is a Platinum Founding Member of Green Building Council South Africa (GBCSA), a member of the GBCSA’s Green Building Leader Network, a component of the FTSE4Good Emerging Index and has been included in the FTSE/JSE Responsible Investment Index for eight years running.

About MRI Software
MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses—from property-level management and accounting to investment modeling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI liberates real estate companies to elevate their business and gain a competitive edge. For more information, please visit mrisoftware.com.

Contact Information:
Jeff Miller
LEWIS
mrisoftware@teamlewis.com
541-207-3461

Acquisition Expands MRI’s Growing Footprint in EMEA; Adds Innovative, Easy-to-Use Solutions for Small to Medium Investors and Operators

Cape Town, South Africa – December 14, 2017 – MRI Software, a global leader in real estate software solutions, today announced the acquisition of MDA Property Systems, a property management and accounting software company based in Cape Town, South Africa. Founded in 1990, MDA Property Systems dominates the South African real estate market, with approximately 5,000 users and 70 percent of South Africa’s listed real estate investment trusts (REITs) using the company’s software. With commercial and residential clients throughout Africa and the Middle East, MDA further expands MRI’s fast-growing presence in the EMEA region.

“Africa and the Middle East represent important growth markets for global investors and, therefore, are key to MRI Software’s rapid worldwide expansion,” said Patrick Ghilani, Chief Executive Officer of MRI Software. “MDA Property Systems has a stellar reputation in these markets, and they’ve built an extremely loyal following for their innovative and intuitive solutions. MRI also has a rich legacy in the region, having served the African market for more than two decades. Uniting the strengths of both companies, we are well positioned to bring a comprehensive set of real estate software solutions to the region.”

MDA clients will benefit from increased investment and innovation into the company’s core solutions. Additionally, MRI Software’s broad solution set – including the company’s Investment Suite, Fixed Asset Accounting and Facilities Management solutions – provides key capabilities for MDA clients managing both domestic and global portfolios. MRI’s multinational clients can leverage MDA’s capabilities to work more effectively in the Southern African market.

“Combining with MRI Software gives us a global channel for our solutions and a wealth of resources to continue developing our property management software, to both add new capabilities and build integrations with complementary MRI offerings,” said Mark Fairweather, managing director of MDA Property Systems. “We are exceptionally excited to join the MRI family and provide international backing to the continued development of our product set for the benefit of our loyal client base. I look forward to joining the MRI team and continuing to lead MDA into the future.”

MDA Property Systems is MRI Software’s third acquisition this year in the EMEA region. The company acquired UK-based Real Asset Management in September and Qube Global Software in October. With nearly 2,500 clients and 400 employees in the region, MRI is now the largest real estate software provider in EMEA. MDA will continue to serve its clients without interruption while near-term integration activities will focus on providing expanded offerings to all clients.

About MRI Software
MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses—from property-level management and accounting to investment modelling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI liberates real estate companies to elevate their business and gain a competitive edge.

About MDA Property Systems
After developing and delivering property management solutions for nearly three decades, MDA Property Systems is the acknowledged leader in Africa. MDA Property Manager©, their core cloud-based application, provides comprehensive software for property and facility managers, with integrated accounting and real-time financial reporting. It is designed around industry-best practices and business processes, and is used every day by leading property owners and managers. MDA’s relentless approach to customer service shines through from initial engagement, through day-to-day support, and on an ongoing technical level. For more information, please visit mdapropsys.com.

Contact Information:
Jeff Miller
LEWIS
mrisoftware@teamlewis.com
541-207-3461

MRI Fixed Assets enables real estate owners and operators to reduce tax obligations, achieve compliance, and increase the ROI of their fixed assets

Solon, Ohio – November 8, 2017 – MRI Software, a global leader in real estate software solutions, today announced MRI Fixed Assets, a new fixed asset accounting solution for the real estate sector. MRI Fixed Assets is a a comprehensive solution for real estate owners and operators to better manage accounting, maximize tax benefits, improve compliance, and increase the ROI of their assets.

“Regulations for fixed asset accounting continue to grow more complex, and organizations with real estate interests need solutions that can automate and simplify compliance,” said Charles McDowell, Vice President of Commercial Solutions and Client Experience at MRI Software. “MRI Fixed Assets builds upon the proven history of our recent acquisition, Real Asset Management, to easily address these ever-changing requirements. Our solution enables compliance with common accounting and tax reporting standards, including US GAAP, SOX, Bill 198 and IFRS. And, because it is linked with our Version X Financials platform, it provides a modern, intuitive user experience that leverages the full power of MRI.”

MRI Fixed Assets allows organizations to manage, track and record all changes to an asset’s status, from its physical location to the history of how it has been used. The application readily enables depreciation forecasts, manages the valuation of assets, and reports depreciation in accordance with the unique requirements for particular asset types and regional differences around the world. MRI Fixed Assets includes annual updates to allowances and elections, catering for Bonus Depreciation and Section 179, and can be integrated with barcoding and other electronic readers to aid in inventory audits.

Available via MRI’s Version X platform, MRI Fixed Assets shares integrated data and common work processes with the core financial management platform, giving users the benefits of increased automation within a single, intuitive experience.  The solution is flexible and can be used in conjunction with other accounting and property management systems, providing real estate organizations the freedom to choose the right solutions for their business.

About MRI Software

MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses—from property-level management and accounting to investment modeling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI liberates real estate companies to elevate their business and gain a competitive edge. For more information, please visit mrisoftware.com.

 

MRI Software and KeyBank Partner to Automate Payments for the Real Estate Industry
New relationship offers greater choice and flexibility for real estate owners and operators

SOLON, Ohio – November 1, 2017 – MRI Software, a global leader in real estate software solutions, announced today that it has formed a strategic relationship with KeyBank, one of the nation’s largest bank-based financial services companies, to provide clients access to KeyTotal Pay, powered by AvidXchange^TM, KeyBank’s payment automation solution.

KeyTotal Pay provides real estate owners and operators the ability to eliminate paper checks, optimize vendor payments, and streamline reconciliation. Time-consuming post-payment activity and ongoing vendor engagement are shifted to KeyBank, while information reporting and research is embedded within MRI’s financial management software. The KeyTotal Pay platform has a high conversion rate to electronic payments, utilizing AvidXchange’s payment network with more than 350,000 vendors and growing. Additionally, clients can maintain their existing operating accounts, even those with other banks. With KeyTotal Pay, payments are more secure, transparent, and cost-effective.

KeyTotal Pay is a complementary service to MRI Vendor Pay, which is MRI Software’s existing payment automation solution, that offers greater choice and flexibility to mutual clients of MRI and KeyBank. KeyTotal Pay and MRI Vendor Pay are both powered by AvidXchange, allowing clients that have a banking relationship with KeyBank to automate payments through KeyTotal Pay, while others can select MRI Vendor Pay. In both cases, MRI will fully support the back-end integration into the client’s financial database.

“We are incredibly excited to publicly announce this partnership. Two Cleveland-based companies, heavily focused on the real estate sector, have joined forces to bring best-in-class vendor payments technology to the market. Our integration with MRI gives our clients a seamless user experience with limited change to current processes. Simply put, we are leveraging technology to automate manual, paper-intensive processes,” said Kevin Tholke, senior vice president of real estate payments at KeyBank. “Our mission is to help our clients run their businesses better every day. We do so by partnering with like-minded companies that have industry-leading technology, such as MRI Software.”

“This new partnership with KeyBank builds on a long-standing relationship with AvidXchange to provide additional flexibility and choice for our clients,” said John Ensign, executive vice president and general counsel for MRI Software. “MRI users can simply select their payments from within our financial module and, instead of sending them to the printer, click a button to send them to the KeyTotal Pay network via the MRI Vendor Pay real-time integration. Clients now have the ability to enhance their relationship with KeyBank and access KeyTotal Pay through MRI’s industry-leading accounting and financial management platform.”

About KeyCorp

KeyCorp’s roots trace back 190 years to Albany, New York. Headquartered in Cleveland, Ohio, Key is one of the nation’s largest bank-based financial services companies, with assets of approximately $136.7 billion at September 30, 2017. Key provides deposit, lending, cash management, insurance, and investment services to individuals and businesses in 15 states under the name KeyBank National Association through a network of more than 1,200 branches and more than 1,500 ATMs. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name. For more information, visit https://www.key.com. KeyBank is Member FDIC.

About MRI Software

MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses—from property-level management and accounting to investment modelling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI liberates real estate companies to elevate their business and gain a competitive edge. For more information, please visit www.mrisoftware.com. 

 

Acquisition to Leverage MRI Software’s Sales and Marketing Channels and Multifamily Management Expertise to Maximize eCondoSystems’ Reach

Solon, Ohio – October 17, 2017 – MRI Software, a global leader in real estate software solutions, today announced the acquisition of eCondoSystems (eCS), a provider of cloud-based software solutions for the condominium development and sales sector.

eCondoSystems provides condo developers a comprehensive web-based application that reduces cost and human error while tracking all aspects of a development project and providing tools for sales management, including inventory control, contract administration, real-time reporting, and an integrated Customer Relationship Management (CRM) functionality. Built specifically for condominium developers’ needs, eCS has more than 25,000 users who manage more than $30 billion in active inventory.

“The large and growing condominium market is currently underserved by real estate software solutions,” said Brian Zrimsek, Multifamily Industry Principal at MRI Software. “eCondoSystems is the industry’s best kept secret and a natural extension of MRI’s multifamily business. Coupling what we believe is the best condo development and sales solution available with MRI’s property management, automated communications, and screening solutions creates a true end-to-end offering for the condo market. We look forward to leveraging our brand and established sales and marketing channels to bring eCondoSystems’ solutions to the global real estate industry.”

eCondoSystems is MRI Software’s fourth acquisition in the multifamily space in the last 12 months, following CallMaX, ResidentCheck, and Tenmast Software and HAB, Inc. This latest acquisition continues to reinforce MRI’s commitment to the multifamily industry.

About MRI Software
MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses—from property-level management and accounting to investment modelling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI liberates real estate companies to elevate their business and gain a competitive edge. For more information, please visit mrisoftware.com.

About eCondoSystems
eCondoSystems is the premier developer of cloud-based software specifically tailored for the multi-family condo industry. Over the past 15 years, our comprehensive and customizable application has helped countless projects streamline their business and better manage the sales, inventory control, contract administration and closing processes. eCondoSystems provides a turn-key dashboard driven software package delivered through the Cloud to serve the needs of condo developers (and their sales teams) in the development and sale of condo units. These tools include integrated CRM, automated marketing, prospect-to-client conversion analysis, automatic contract assembly and contract administration, as well as inventory control, accounting, reporting, and more. Learn more at econdosystems.com.

PR Contact:
Jeff Miller
LEWIS
mrisoftware@teamlewis.com
541-207-3461