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MRI’s acquisition of FSI paves way for greater FM efficiencies and improved service delivery

08 October 2021

PFM speaks to Dermot Briody about the recent acquisition of FSI by MRI Software to determine how this will see both companies develop in the months and years ahead.

Dermot Briody

Having announced the acquisition of UK-based FSI in August, there has been considerable interest in how the merger of two global providers of systems will impact on their market-leading solutions.

US-based MRI Software is a global provider of real estate software solutions, founded in 1971.

FSI was formed in 1990 and has also increased its international activities, with more than 300 clients throughout Europe, North America, Asia Pacific and the Middle East.

The initial official statement outlined how the FSI cloud-based platform will enhance the MRI Software suite of solutions.

It further explained how FSI complements the MRI integrated workplace management system (IWMS) and stated that this will further strengthen the company’s position as a proptech provider.

To gain further insight, PFM spoke to MRI Software senior video president and executive managing director of EMEA and occupier solutions Dermot Briody.

Q. How will the acquisition impact each organisation?

A.
At the moment, it's too early to comment on the branding strategy, but we have two principles guiding our decision-making: taking advantage of the acquired company’s respected position in the industry; and leveraging the benefits that MRI brings to the joined businesses.

FSI is a well-respected name within the FM industry. We want to retain its excellent brand equity and ensure its solutions remain easy to find and recognisable for customers, partners and new prospects.

We will also want to bolster awareness of MRI's existing FM capabilities and ensure they become the go-to solutions for the FM industry, so adding FSI to our product suite will be central to fulfilling this ambition.

Of course, there is a natural desire to merge the two companies at some point because it's more efficient, delivers better results for clients and reduces confusion in the marketplace.

Q. Which areas are being considered for further development?

A.
Our product roadmap is driven by the needs of our clients and the evolving needs of the market.

One of our main priorities is to strengthen the mobile capabilities for both organisations and empower FM providers to efficiently manage an on-the-go workforce while improving the building management experience for occupiers.

We will also continue to support IoT connectivity and bridge gaps in organisations' systems to deliver insights that will enable them to enhance performance, pre-empt failures, and power smart buildings.

An emerging need among our clients is greater control of energy usage to meet corporate, brand and societal objectives.

We will continue to develop what is already excellent sustainability functionality to support these needs.

We also want to support businesses' return to the office strategies and support the safe return of employees and reactivation of assets – this will involve offering our other workplace solutions alongside FSI to provide a comprehensive suite for this area.

Q. How will the two companies benefit each other?

A.
Adding FSI further builds on our position of being able to support the management of the full lifecycle of an asset and we will look to improve this with any product integrations that cover this complete process.

A common thread running between these priorities is the need to create a single experience and better usability across applications.

The two companies coming together will also include selling FSI into regions where it has no strong local footprint, but MRI has a strong presence.

Above all, we want FSI to continue selling enterprise FM solutions – they are great at this – and we will be working together to make this easier and better.


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