About MRI Prolease
MRI Prolease is a lease management software from MRI Software that provides tools for lease management, accounting, and administration. It combines intelligent solutions, property management, and financials so organizations can control costs, comply with regulations, and unify portfolios. This platform is designed to alleviate the complexity of lease management, making it easier for users to improve lease performance and maintain compliance. MRI Prolease includes features such as regional selection and a dedicated support line, ensuring user needs are met effectively. Key capabilities: lease management accounting compliance tracking portfolio management reporting Best for: real estate professionals that need to manage leases efficiently and ensure regulatory adherence.
MRI ProLease by MRI Software is a comprehensive lease management software designed to streamline lease administration and accounting processes. Its primary purpose is to provide a robust solution for managing real estate and equipment leases, ensuring compliance with ASC 842 and IFRS 16 standards. Key features include lease accounting, space management, computer-aided facility management (CAFM), and lease abstraction powered by AI. The user interface of MRI ProLease is intuitive and user-friendly. It offers a clean and organized layout, making it easy for users to navigate through various functionalities. The interface includes unique design elements such as customizable dashboards and real-time notifications, which enhance the user experience. Users can easily access and manage lease data, track critical dates, and generate reports with minimal effort. In terms of functionality and features, MRI ProLease stands out with its dual functionality as both an administrative database and an accounting tool. It supports recent changes to FASB and IASB guidelines, ensuring compliance with ASC 842/IFRS 16. The software also includes space management tools for managing CAD floor plan layouts, personnel moves, and seating charts.
Pros & Cons
- +1. Centralized Lease Database: Acts as a single database for storing and managing all leases.
- +2. Responsive Customer Service: Customer service is dedicated and helpful in resolving issues and assisting with challenges.
- +3. CEO Engagement & Customer Care: Company leadership, including the CEO, is engaged in addressing customer concerns and improving the product.
- +4. Combined Administrative and Accounting Tool: Functions as both an administrative database and an accounting software, integrated in one system.
- +5. Multi-Team Access with Security: Allows access for multiple teams with appropriate security controls.
- −1. Growing Pains with ASC 842: Software experienced challenges in fully implementing ASC 842 compliance initially, indicating some developmental immaturity in this specific area.
- −2. Initial Product Readiness Misalignment: The initially marketed "ASC 842 ready" product didn't fully meet user expectations upon sign-up.
Features
Key features
- 1. Complete End-to-End Lease Solution
- MRI ProLease Central offers a comprehensive solution for lease administration and lease accounting, managing the entire lifecycle of leases from administration to financial compliance in one platform. This eliminates the need for multiple systems and streamlines lease management.
- 2. Compliance with Multiple Accounting Standards
- The software is built to ensure compliance with major lease accounting standards including IFRS 16, ASC 842, and GASB 87. This future-proofs the software and ensures organizations can meet evolving regulatory requirements globally.
- 3. Centralized Management of All Lease and Asset Types
- It allows users to manage both real estate and equipment leases (fleet, IT, machinery etc.) in a single, centralized location. This unified approach provides a holistic view of all lease portfolios and simplifies tracking and management.
- 4. Seamless Integration for Data Abstraction
- MRI ProLease Central integrates with MRI Contract Intelligence to enable fast and efficient data abstraction from lease documents. This speeds up the implementation process and reduces manual data entry, saving time and improving accuracy.
- 5. Proven and Trusted Solution
- The software is trusted by over 800 clients across 40 industries, suggesting a high level of reliability and effectiveness in diverse business environments. This established user base provides confidence in the software's capabilities and support.
Additional features
- 1. Lease Administration and Accounting
- Provides tools to manage and administer leases, as well as handle the related accounting processes.
- 2. Real Estate and Equipment Lease Management
- Manages both real estate leases (properties) and equipment leases (fleet, IT, machinery).
- 3. IFRS 16, ASC 842, and GASB 87 Compliance
- Ensures adherence to these major lease accounting standards.
- 4. Centralized Location for Lease Management
- Offers a single platform to oversee all lease-related data and processes.
- 5. End-to-End Lease Accounting Support
- Supports the full spectrum of lease accounting needs.
- 6. Cloud-Based Solution
- Implemented as a cloud service for accessibility and ease of deployment.
- 7. Integration with MRI Contract Intelligence
- Works with MRI Contract Intelligence for quick data extraction from lease documents.
- 8. Equipment Leasing Functionality
- Includes specific features for managing equipment leases.
- 9. Flexible, Structured Environment for Reporting
- Provides a customizable environment to report on lease details.
- 10. Visibility into Lease Details
- Offers insights into critical lease information like end dates, break clauses, and renewal dates.
- 11. One-to-Many Lease Approach
- Allows managing various lease types (property, equipment) from a single lease record, preventing data duplication.
- 12. Core Financial Reporting Requirements
- Meets essential financial reporting needs related to leases.
- 13. Simple Implementation
- Designed for easy and straightforward implementation process.
- 14. Accounting Integration
- Integrates with accounting systems for seamless financial data flow.
- 15. Lease Abstraction
- Functionality to extract key data points from lease documents, especially when paired with MRI Contract Intelligence.
- 16. Lease Management Features
- Tools and functionalities for managing leases throughout their lifecycle.
- 17. Equipment Leasing Features
- Specific functionalities tailored for managing equipment leases.
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About MRI Prolease
MRI Prolease is a lease management software from MRI Software that provides tools for lease management, accounting, and administration. It combines intelligent solutions, property management, and financials so organizations can control costs, comply with regulations, and unify portfolios. This platform is designed to alleviate the complexity of lease management, making it easier for users to improve lease performance and maintain compliance. MRI Prolease includes features such as regional selection and a dedicated support line, ensuring user needs are met effectively. Key capabilities: lease management accounting compliance tracking portfolio management reporting Best for: real estate professionals that need to manage leases efficiently and ensure regulatory adherence.
MRI Prolease Details
MRI Prolease's In-App Market Place
Does MRI Prolease have an in-app market place?
Yes
How many Mini-Apps in the marketplace?
1
Mini Apps
N/A
Pricing Options
Accepted Payment Currencies
USD ($), CAD (CA$), EUR (€), GBP (£), AUD (A$), JPY (¥), CHF (CHF), CNY (¥), INR (₹), RUB (₽)
Pros & Cons
- 1. Centralized Lease Database: Acts as a single database for storing and managing all leases.
- 2. Responsive Customer Service: Customer service is dedicated and helpful in resolving issues and assisting with challenges.
- 3. CEO Engagement & Customer Care: Company leadership, including the CEO, is engaged in addressing customer concerns and improving the product.
- 4. Combined Administrative and Accounting Tool: Functions as both an administrative database and an accounting software, integrated in one system.
- 5. Multi-Team Access with Security: Allows access for multiple teams with appropriate security controls.
- 1. Growing Pains with ASC 842: Software experienced challenges in fully implementing ASC 842 compliance initially, indicating some developmental immaturity in this specific area.
- 2. Initial Product Readiness Misalignment: The initially marketed "ASC 842 ready" product didn't fully meet user expectations upon sign-up.
MRI Prolease's Support Options
Contact
+1 800 321 8770MRI Prolease's Alternatives
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