MRI Software has entered into a partnership with Real Asset Management, one of the global leaders in fixed asset management.

MRI, a Cleveland-based property management software provider, was seeking a solution to further enhance its award-winning platform by adding functionality related to tracking and analyzing fixed assets within the MRI General Ledger accounting structure.

When taking MRI’s commitment to leveraging best-of-breed solutions alongside MRI’s market leading software, Real Asset Management was the natural choice.

Richard Shaw, sales director, Real Asset Management, said: "We are extremely pleased to be working in partnership with MRI Software in order to offer clients an integrated fixed asset accounting solution. Removing time consuming and error prone manual processes is essential at a time when businesses are under great strain to comply with stringent audit requirements. We already have a variety of joint clients across the USA, Canada and Australia which provides a great platform to build on.

"The solution that we offer provides MRI clients with a best-of-breed fixed asset accounting solution that is not only integrated with the MRI General Ledger but facilitates compliance with statutory accounting standards such as GAAP and IFRS as well as corporate governance requirements such as Sarbanes Oxley. It is this combination of specialist functionality and worldwide coverage that will ensure that every MRI client can benefit from the new partner relationship."

RAM provides the only product on the market that calculates depreciation and manages all elements of state and federal tax, asset budgeting and forecasting, lease accounting, capital project control, asset tracking (barcoding and RFID), and maintenance management.

The solution comprehensively addresses every stage in the fixed asset process, empowering finance and property managers with the most up-to-date and accurate data possible.

John Ensign, general counsel and vice president of Corporate Development at MRI Software, said: "Our clients have been requesting that this facet of property accounting be incorporated into our software, and we are happy that we’ve found the right business partner in Real Asset Management. MRI is designed to be a flexible platform that welcomes integrations with best-of-breed solutions like Real Asset Management. We are confident that the Real Asset Management solution will greatly improve our client’s experiences within our platform."

Real Asset Management will join MRI as part of the MRI Partner Connect program, an industry-leading endeavor that facilitates MRI’s unique go-to-market strategy. The program is focused on providing MRI’s and its partners’ mutual clients with the ability to leverage best-of-breed solutions alongside MRI’s award-winning products.

MRI selects market-leading organizations in business-critical areas for their clients, and then cements firm business relationships with those companies.

The program is focused on structuring relationships and integrations for mutual clients that offer a high confidence, low risk solution to property and investment management processes.