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MRI Software announces new features to help CRE owners and tenants navigate the COVID-19 crisis

MRI Software, a real estate solutions software provider, has launched new and updated features for its commercial, residential and financial solutions to help its clients navigate the emerging challenges of the COVID-19 crisis. MRI has introduced enhancements to its MRI Living, MRI @Work and Financials suites, which will allow commercial and residential property owners and operators adapt to the new behaviors and market conditions that have resulted from the health crisis.

These enhancements will provide landlords and property managers with access to digital tools and services that will address rent payment concerns, ensure effective communication with commercial and residential tenants and help manage the impact on assets and portfolios.

“We are seeing an increasing need for property managers and tenants to use digital services, especially with the more rapid shift to a contactless society as being driven by the COVID-19 crisis,” MRI Software Industry Principal Brian Zrimsek said. “At MRI, we are doing everything we can to preserve business continuity in the face of remote work scenarios and economic slowdown. Making full use of the technology at their disposal is the best option property owners and managers can take to ensure that important work still gets done, while observing social distancing requirements and other restrictions.”

MRI solutions to help CRE owners and tenants through the Coronavirus

MRI Living and MRI @Work clients can use these platforms to assist tenants who are seeking rent relief due to economic fallout from the pandemic. These solutions will help CRE owners manage and account for deferred payment agreements as well as partial and delayed payments.

Additionally, MRI’s Callmax Automated Communications suite has a new outbound call routing feature that lets users call prospects and tenants as if they were coming from the property’s office phone. Since many real estate agents are working remotely during the health crisis, Callmax ensures properties can stay in touch and display the right call back information. Calls are tracked and stored in Callmax so the activity is monitored and available for future reference.

MRI’s Analytix suite powers two new interactive dashboards that will help ensure users can look at key metrics that will help them navigate during these trying times. The Advanced Retail dashboard provides insights into occupancy and retail metrics, so users can visualize exposure by tenant category, region and asset across an entire portfolio. Meanwhile, the Accounts Receivable dashboard provides trending information for paid and outstanding receivables by asset and geographic attributes across a portfolio, too. Both solutions require minimal implementation needs, so users can leverage them quickly.

Connectivity proves to be more important than ever amid COVID-19

MRI’s solutions would be helpful to CRE owners at any time, but they are especially valuable now as everyone is trying to keep their distance during this health crisis. With the MRI Living and MRI @ Work product suites, MRI has helped make socially distant business practices a viable option for CRE owners.

If CRE owners want these socially distant business practices at their disposal however, their buildings need to have strong connectivity. These solutions and practices are reliant on it.

“It’s a heck of a lot easier for someone just to go online and pay or set up recurring payments,” Zrimsek told Connected Real Estate Magazine. “(The same can be said) for putting in a work order without having to call—at the moment you’re not even in the office to answer the phone. Business continuity and better customer service rely upon the connectivity that we take for granted.”

Zrimsek went on to explain how everything MRI Software is working on encapsulates the need for better connectivity throughout an entire organization—especially during the COVID-19 era.

“Connectivity makes it so you can do work without being at work, so you can provide self-service so tenants can do business with you, without having to see you,” he said. “It’s connectivity that lets your staff connect to your business systems so they can continue to do business without having to be in the office. Connectivity lets vendors submit invoices and get paid without having to use the mail. The first thing is connectivity, the next thing is paperless—but to do paperless, you need connectivity.”

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