Verdantix: MRI Software acquires Qube Global Software


MRI Software, a provider of real estate software solutions backed by GI Partners, announced the acquisition of Qube Global Software, a UK-headquartered property and facilities management software vendor. The acquisition will boost US-headquartered MRI Software’s presence in Europe, providing it an additional 280 employees and growing its client list by around 1,000 organizations…

What is the key takeaway for market participants? This acquisition demonstrates yet again consolidation is continuing at a rapid pace in the real estate and facilities software market… Verdantix expects acquisition activity will not slow down given that vendors such as Accruent, Dude Solutions, Condeco and Tango Analytics are backed by private equity funding with ambitious growth plans…

[Admin: To see other related posts, use the Verdantix tag or Tango tag.]

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Verdantix: 83% firms used energy management to optimize assets


According to the 2016 Verdantix annual survey of 250 energy and facility decision-makers, 17% of firms continue to separate energy and asset management processes, 58% use energy management to inform asset management, while the remaining 25% of firms have fully integrated energy and asset management…

The landscape of vendors providing solutions for improved asset management is broad and highly competitive. Firms range from integrated workplace management system (IWMS) providers such as Accruent, iOffice, Planon, Qube, and Trimble Manhattan; to computerized maintenance management system (CMMS) providers, such as Dude Solutions and eMaint; to building energy management software providers, such as Envizi, Schneider Electric, and Siemens; and smart building platforms, like Switch Automation. The next five years will see an increased emphasis on partnerships as vendors seek to provide additional value add capabilities including advanced analytics and enhanced data capture functionalities

[Admin: This post is related to the 08.01.16 post about the competitors of IBM TRIRIGA. To see other related posts, use the Verdantix tag.]

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Verdantix: Who are benefiting from the changes in lease accounting?


In early 2016, the US Financial Accounting Standards Board (FASB) and the International Financial Accounting Standards Board (IASB) issued new lease standards, which require companies to include lease obligations in their balance sheets. The new standards take affect 1 January 2019 and will impact all companies that have leases for real estate or equipment and file financial statements…

For many years, IWMS software providers have provided real estate, leasing, and portfolio capabilities, which include modules that integrate details of leases and contracts with existing financial and accounting systems to provide a central database for real estate financial planning and analysis and to create the correct entries for the accounting system. The new FASB/IASB accounting standards bring the spotlight on the role of software in managing leases.

A review of the deals in the public domain shows that providers such as Accruent, Lucernex, and Qube are already swooping in on opportunities to help companies mitigate risk by ensuring compliance to these new leasing standards. In the last few months, Lucernex has announced several new contracts with retailers such as Bouclair, DXL, Bashas’ Family of Stores and Suburban Propane. Accruent has been selected by CTIL, Tillys and Sephora in just the last few weeks. We are also witnessing other IWMS vendors improving their capabilities for accurate lease calculations in accordance with the new lease accounting standards. For example, in April, Planon software received validation from a Big Four accounting firm that its leasing calculations engine was in accordance with the IASB/FASB requirements…

[Admin: This post is related to the 08.01.16 post about the competitors of IBM TRIRIGA. To see other related posts, use the FASB tag or IFRS tag.]

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