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.