MRI Software announces next-generation property management tech

May 8, 2024

4 minutes read

MRI Software has launched AI-enabled Property Management X, designed for commercial property professionals with unprecedented access to data and insights.

The Announcement:

AI-enabled Property Management X raises the bar for commercial property professionals with unprecedented access to data and insights.

MRI Software, a global leader in real estate software, sets the stage for a seismic shift in property management technology with the announcement of its next-generation Property Management X™ (PMX) solution for the APAC commercial real estate (CRE) industry.

The result of a comprehensive, multi-year initiative to rethink critical property management functions and workflows, MRI’s next-generation PMX is redesigned from the ground up for improved usability, efficiency and intelligence, including a new mobile app, AI-enabled capabilities, and the recently released MRI Agora Insights platform that brings together data in an open and hyper-connected way to deliver powerful insights from a central dashboard with a new modern user interface.

Today’s AP announcement comes at a critical time for Australia’s $31.4 billion commercial real estate industry, where more than three in four (76 per cent) CRE C-suite and director-level industry professionals cite automation as an urgent priority across all aspects of their business between now and 2028, according to MRI’s recently released Digital Transformation Journey report.

MRI’s Asia Pacific Vice President of Product Development, Mark Cohen, said the software was a huge step up.

“It’s fair to say the enhancements we’re announcing today to our flagship PMX product are not just an evolution, but a revolution in the way you’ll think about, manage and imagine the future of your portfolios and businesses,” Mr Cohen said.

The next-generation PMX has six key elements:

MRI Agora Insights: Putting Data to Work

The MRI Agora Insights data and analytics platform brings together data from across the MRI product ecosystem, partner solutions and other client applications in an open and hyper-connected way.

MRI Agora Insights empowers real estate teams with cross-product analytics and configurable dashboards that enable smarter, faster decisions.

Ask Agora: Elevating Efficiency through AI-Enablement

PMX now taps into the AI capabilities at the heart of MRI’s foundational PropTech platform, MRI AgoraTM.

Leveraging generative AI, PMX will feature a new “Ask Agora” capability, allowing users to pose queries in natural language regarding any information within their PMX database and receive immediate, pertinent responses – empowering them to make informed decisions with unprecedented ease.

PMX Studio Suite: Introducing Unparalleled Control

The antidote to costly workarounds and rigid solutions, the web-based Studio Suite toolkit for PMX will enable clients to be the architects of their own success – creating tailored pages, reports and workflows to perfectly align with their unique operational needs and upholding the hallmark flexibility that long-time MRI clients have enjoyed and come to expect.

PMX Reimagined: Redefining User Experience

Clients on PMX X.7 will begin gaining access to ‘reimagined’ pages featuring a modern UI/UX designed for maximum usability.

These intuitive interfaces simplify onboarding, enhance user adoption, streamline day-to-day tasks and elevate data visibility and quality like never before.

PMX X.7: Fortifying the Foundation

A more robust and scalable back-end architecture means improved speed, reliability and configurability for clients.

New features such as enhanced MRI Go search, configurable grids for all tables and refined import/export functionality, PMX X.7 strengthens the product’s core and lays the groundwork for future innovation.

PMX On-the-Go: Mobile Freedom for Property Managers

Real-time property management comes to life with PMX On-the-Go, a complimentary mobile app available to all MRI Cloud clients.

Whether in the office or on the move, users can access essential tenant, lease and vendor data instantly, enabling informed decisions and super-efficient task management.

Cygnet West CEO Denis Leane said being able to conveniently check debtor balances while on the move is very beneficial.

“The team greatly appreciates the ability to easily retrieve information while inspecting sites and engaging with tenants,” Mr Leane said.

“Imagine MRI’s full suite as a cityscape, where PMX stands as our tallest skyscraper, and the MRI Agora platform operates as the foundational infrastructure connecting the ecosystem.

“With next-gen PMX, we’re renovating the building – but we’re also redesigning a new skyline with essential utilities to support neighbouring PropTech communities as well,” Mr Cohen said.

“As a global business with local impact we’re committed to ongoing collaboration and partnership with our clients and partners across Asia Pacific who inspire us to bring advancements like this next-generation PMX to market,”Asia Pacific Senior Vice President and Executive Managing Director for MRI Software, David Bowie said.

“We’re listening. We’re innovating. We’re committed to reshaping not only our products but industry standards.

“If it matters to our clients, it matters to us – so tapping the power of an open and hyper-connected technology platform to advance our clients’ profitability and efficiency, putting innovation like generative AI and digital transformation to work, is always front of mind as we create the future of PropTech for them and the communities they create.”

Over 2500 clients and 50,000 end users worldwide use PMX to power their operations and manage diverse portfolios of more than one million residential units and one million commercial leases.

This next-generation PMX solution is expected to attract a lot of attention at the MRI Ascend Asia Pacific users conference from 7-8 August 2024 at the Hilton Hotel in Sydney, for which Early Bird registrations are now open.