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MRI Software Named as World Leaders in Intelligent Leasing

MRI Software Named as World Leaders in Intelligent Leasing
23 October 2023
 

IDC MarketScape has named MRI Software a Leader in Worldwide SaaS and Cloud-Enabled Lease Accounting and Administration Applications in its 2023 vendor assessment.

The IDC MarketScape report evaluates the fitness of information and communications technology suppliers, measuring them against certain market criteria, with surveys, interviews, public information and end-user experiences factoring into the scoring.  

The report has praised MRI’s comprehensive intelligent leasing offering for “addresses the complexities of lease accounting compliance.” It said: “With its robust features and functionalities, MRI's lease accounting solution enables organisations to effectively manage lease portfolios, automate lease calculations, and generate accurate financial reports.”

MRI’s solution enables organisations to optimise their leasing operations, automate processes, produce accurate financial reports and gain actionable insights that deliver better business outcomes.

According to the IDC MarketScape report, “The roller-coaster ride of the past 36 months has changed how businesses operate regarding lease management. Many have significantly reduced their operational footprint, while others have expanded their needs for space. It all depends on the industry. As a result, some businesses are saddled with leases for spaces and items that they will not or cannot use in the short term. This complex predicament has been further complicated by the regulatory changes associated with GASB 87 and ASC 842, which promise to add unprecedented complexity to lease management.”

The report went on to say, “The software supports compliance with lease accounting standards such as ASC 842 and IFRS 16, ensuring accurate lease classification, measurement, and disclosure. MRI’s lease accounting solution provides a comprehensive platform for organisations to streamline lease administration, enhance financial visibility, and meet regulatory requirements with confidence. MRI has a dedicated team providing lease administration services that helps establish a series of standardised policies and procedures for real estate teams to meet the goals and objectives of the firm, the customers, and the corporate real estate department.”

“We’re extremely proud to be recognised as a Leader of lease accounting and administration solutions in this year’s IDC MarketScape report,” said Patrick Ghilani, Chief Executive Officer of MRI Software. “As the industry evolves, our goal is to continue providing our clients and the overall market with solutions and services to help meet their compliance requirements and optimise complex lease portfolios in a rapidly shifting economic environment. We believe our position in this report further confirms that we’re on the right track.”

The report further notes companies should, “Consider MRI Software if you are searching for a comprehensive and robust solution that supports compliance and is backed by a lease administration team that focuses on developing standardised policies and procedures for real estate teams.”

Picture: a graphic showing a human profile with a circuit board pattern on it. Image Credit: Unsplash

Article written by Ella Tansley | Published 23 October 2023

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