MRI Software and Brexit

This FAQ is designed to answer a number of questions that may be asked by clients and prospective clients around the ongoing provision of MRI Software solutions in the event of a 'No Deal' Brexit, or a Brexit of some type that resuts in economic or trading difficulties. Naturally MRI is not able to predict how this will be played out, nor the ramifications but will work with clients throughout this period to provide continued support, adapting as needed.

Is MRI Software committed to the UK and European markets?

MRI Software is deeply committed to the UK and European markets. The business has grown significantly in the past 18 months, from 25 people employed in the region in October 2017 to more than 370 as of January 2019. It is envisaged that this will grow further in coming years. MRI’s European operations are firmly centred around the UK, with the majority of staff in the region based there. MRI sees the UK as a global hub of real estate trading, now and into the future, and plans to maintain and develop its presence in this market. In addition, the heritage of the majority of products supplied in the region is UK-centric, having been founded in the country more than 40 years ago. The teams that have created these products will remain in the UK, continuing to play a key role in the development of the company’s full range of software from offices in and around London and in the East Midlands. MRI Software will also continue to seek opportunities to expand across mainland Europe.

If there is an economic downturn as a result, what will MRI Software’s position be?

MRI Software is a financially solid organisation with strong revenues in all global regions. In addition, the products offered cover a number of verticals and subsectors within the industry. This spread of business and a varied portfolio protects from risk and will enable MRI Software to maintain a strong level of service in the region during possible economic difficulty. Another point of note is that the entities that have come together to create the MRI Software business in Europe have confidently navigated challenges arising from economic uncertainty over the past 40 years, and there is no reason to believe this will be any different in future cycles. The business in Europe is also the largest of any type in the commercial property market, and this position will serve it well if trading conditions change.

What happens to MRI products if new legislation or regulations arise as a result?

MRI Software products and the teams developing and supporting these in the region have been adapting to changes in legislation and regulation for over 40 years. As such, the organisation is well used to changes and reacting fast if any new requirements arise. Examples of legislative and regulation changes include those around, taxation, legal, audit and industry body requirements. The 370 people in the region are UK market experts and have backgrounds as UK surveyors and accountants, bringing even more depth to this experience.

What about the storage and handling of data and the provision of SaaS?

MRI Software has invested in major data centre locations in the UK in 2018 and anticipate maintaining these locations in the future. There are multiple individuals working in Information Security, Database Management and SaaS roles managing these centres and associated processes. These staff will remain in place in the UK to support ongoing client needs, and will continue to adapt our storage and handling of data and provision of SaaS as necessary whatever the outcome of Brexit negotiations. At the same time, MRI will adhere to GDPR regulations as it relates to the handling of client data and within its general business operations.

What plans are you putting in place around possible disruption to the MRI business that may arise?

MRI Software is a mature and well-structured business. It has a significant number of staff members dedicated to managing facilities, business operations and continuity. The diversified office locations, both in the UK and globally, will help with any disruption that may face one location or region. The systems in place internally are enterprise-grade and are designed to be easily accessible from multiple locations. Appropriate IT systems are in place in terms of backups, accessibility and control as would be expected of a global SaaS supplier. With all of these elements in place, MRI Software is confident that it is in a strong position should there be any general business disruption arising as a result of this situation.

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