We compiled a list of four benefits offered by MRI Software, and three benefits offered by Yardi Software. The benefits offered by MRI Software include real estate data management services, asset management services, debt management services, and cloud-based applicant screening platforms. The benefits offered by Yardi are investment management solutions for all verticals, investment management services for performance analytics, and add-ons that allow for a decreased manual workload, higher automation of processes when it comes to screening, management, applications, payments, facilities management, data management, and planning.
MRI's Software's biggest advantage is the fact that the company offers reliable real estate data management services which allow their clients to base strategic decisions on the most correct reports and information that was accurately recorded. According to MRI Software, efficient data management is the key to building strategies that allow for elevation of their clients' businesses. Data management, with the help of the company's software, can be elevated from "manually processing and collecting data, using out-of-date spreadsheet technology, dividing information into silos, and integrating data." As part of their model, MRI Software offers an "enterprise-level special repository, a specialized real estate data model with curated data, and on-demand reporting and analytics to properly manage data" which can be used for modeling and planning. Overall, the data management services offered by MRI are considered company's biggest advantage because they include the following services:
- Aggregating and transforming the data
- Analyzing the data
- Actual management
- Modeling and planning
- Reporting to investors and company
Therefore, this would cover the following benefits: streamlining, automating, financial planning, and forecasting.
- On top of data management, MRI software also offers the following services:
- Property Management
- Financial Reporting & Accounting
- Investment Management
- CRE Occupiers & Lease Accounting
The second biggest advantage of the MRI Software is the asset management services the company offers. The company currently offers asset and portfolio management, as well as advisory and consulting services to owners, investors and public agencies in the affordable housing industry. Therefore, the company is working not only with real estate agents but with the whole housing industry. Moreover, MRI's software is currently used to manage over 50% all affordable housing units in the US. Therefore, this would cover the following benefits: financial planning and budgeting.
MRI Software's third biggest advantage is the offering of cloud-based applicant screening platforms for the multifamily industry and corporate employers on top of the usual resident screening offering. Therefore, the company is not only servicing real estate company but is also able to help corporations with pre-employment screening services for conduct background checks. Mainly the feature is used by real estate companies for multifamily property owners and managers and includes credit history, criminal history, eviction history, employment verification and rental references reports. Therefore, this would cover the following benefit: automating.
Finally, MRI Software offers debt management services as part of their web-based accounting solution for the real estate sector. The company is offering real estate owners and investors an opportunity to increase operational efficiency and lower the risks of bad data by giving MRI Software the control of their debt management accounting. MRI Debt Management aggregates "all debt information including loans and their terms, abstract and contractual information and lenders and computes all future principal and interest payments over time through the maturity of any loan, giving users insight into all commitments over the entirety of the loan." The payments can be created as journals to post directly into MRI’s accounting platform which reduces inefficient spreadsheet calculations and manual creation. Therefore, this would cover the following benefits: streamlining, automating, financial planning, budgeting, and forecasting.
Yardi's biggest advantage is the fact that the company provides "integrated property management software and investment management solutions for all real estate verticals allowing owners, managers, investors and other stakeholders access to information specific to their needs." Yardi's Yoyager platform has a central database that includes an integrated accounting system, comprehensive reporting, construction of reports, and lease renewal workflow for multifamily housing, senior/assisted living, affordable housing, public housing, condo, co-op & HOA, manufactured housing, military housing, student housing, single family homes, and social housing on the residential side, and also office, industrial, retail, construction & development, government, airports, ports, and parks & recreation on the commercial side. Overall, the software is used not only by real estate agents but also businesses, corporations, and government agencies. Therefore, this would cover the following benefits: streamlining.
Yardi offers real estate investment management software services that allow investors to track and manage capital, manage performance analytics, and increase property cash flows and valuations based on real-time data. Therefore, this would cover the following benefits: streamlining, automating, financial planning, budgeting, and forecasting.
Finally, Yardi offers integration with a whole portfolio of add-on products that include:
- Multifamily Suite
- RENTCafé Connect
- RENTCafé CRM
- Resident Screening
- Payment Processing
- Procure to Pay
- Facilities Management
- Orion Business Intelligence
This allows for clients, mainly real estate companies, to integrate the apps and software they already use and have set up as automated to work with Yardi. This leads to a decreased manual workload, higher automation of processes when it comes to screening, management, applications, payments, facilities management, data management, and planning. Therefore, this would cover the following benefits: streamlining and automating.