MRI’s latest version of the real estate software, MRI X, is quite a hit with its new and evidently remarkable features, some of them making for good competition in the global marketplace. Here are the highlights.
- A quarter of MRI’s market is international, and this international audience is an important focus. MRI X allows for individual preferences to be set. A very simple example that causes the most amount of confusion is the date format that can be changed to the one followed in many places outside America – DD/MM/YY as opposed to MM/DD/YY.
You can customise reports by setting two currencies on a financial statement (very useful for business dealings with different countries).
It also has a new revaluation tool that includes items posted directly to the journal table, follows standard rules for foreign currency transactions, and increases compliance related to reporting gains and losses on foreign currency transactions.
- MRI X is device agnostic. It is streamlined to look elegant and work seamlessly on any browser on any device. The user experience is clean and intuitive.
- Users using MRI X as SaaS have three options – Core, Flex and Prime – in order of cost, benefits and security. And unlike its competitors it can be hosted on your own servers – a useful option if you already have your own in-house accounting and IT teams.
- While search reports and functions of common short-cut keys weren’t there on the earlier web-based version, these have been included and improved in this version. Moreover, commercial clients and back-office users can use a perfectly replicated and adapted desktop version on iPads or Androids when they are in the field.
- It retains your customisations or ‘favourites’ – like custom reports and pages visited often – and stores and displays them in the dashboard view, so you have all the information you need at a glance.
- With a hundred million things to do, a comprehensive search result is surely what property managers want. So when fuming tenants call you with troubles concerning people in the vicinity that they don’t know (e.g. grey Toyota parked in my parking place), you can use this tool to search employing simple descriptions (e.g. grey), and quickly retrieve information and contact details to get in touch with the offender (here: owner of grey Toyota) and solve the problem.
- MRI X.4 has an enhanced budgeting and forecasting option. It has an increased flexibility for expense allocations, straight-line rent calculations, and three reports that can be used at a consolidated level: annual budget comparison, pro forma detail report, and pro forma summary report. Workbook approval can be done on multiple budgets (instead of budget-by-budget approval) thereby saving you time, and calculated totals have been added to occupancy/vacancy reports, recovery calculation reports, or monthly suite forecasts.
- Version X now has an Investment Management (IM) tool that provides three products that work together – Investor Management for data aggregation, portfolio and investor reporting; Investment Accounting for automating consolidations and managing capital transactions; and Investment Modelling for valuing, forecasting, and modelling.
Of course, there are a lot more features and tools for you to explore, however, these are the highlights to whet the appetite!