Qube Global Software

Annual Report

Local roots. Global presence.

World-class innovation
Qube joins MRI Software to create a
real estate technology powerhouse
On 2 October, MRI Software, a global
leader in real estate technology solutions,
announced the acquisition of Qube Global
Software. The deal extends MRIs already
worldwide reach, with the company now
serving more than 6000 clients with a
global team of more than 1200 employees.
2 Annual Report Qube Global Software
Qubes extensive property and financial
management capabilities, as well as facilities
management, integrated workplace management
systems (IWMS) and space management
solutions, complement MRIs existing offerings.
Together, the robust product suite offers greater
choice and flexibility for the combined client base.
Patrick J. Ghilani, CEO, MRI Software
The global real estate sector is growing at
unprecedented rates. By uniting MRIs strength and
history in North America with Qubes European
market expertise, along with both companies
longstanding Asia-Pacific footprint, we are uniquely
positioned to address the varying needs of the
global real estate market with a comprehensive and
flexible portfolio.
 Contents
John Cuppello Q&A 4

Finance and investment 6

Our customers 8

Partners and MRI solutions 12

Technology insights 14

Proptech investment 16

Product Development Focus 17

Qube Living 18

John Cuppello, Managing Director, Qube, Ben Lerner to head up Qube operations
an MRI Software company As Qube moves forward into a new era as part of
Its rare to find two organisations so closely aligned MRI Software, Ben Lerner
strategically as MRI and Qube, with a long history will assume day-to-day
in the real estate space and a shared vision of responsibilities in a new
providing an open platform that maximises flexibility role as Managing Director
and choice for our clients. Its a tremendous time of Qube Operations.
to become a part of MRI, and our capabilities and
expertise will play a meaningful role in helping the With 15 years experience
combined company continue to grow and thrive. at the company across
all departments, Ben
While the contents of this Annual Report are has most recently been
primarily concerned with reflecting on events charged with evolving
from the financial year 2016-2017, there is further Qubes company mission, long-term strategic
information throughout related to Qubes exciting direction and ensuring that our core values are at
future as part of the MRI family. the heart of what we do. That focus will continue
as the team pushes ahead in pursuit of its aims
and objectives, now as part of MRI Software.

He and John Cuppello will also work closely

with MRI to bring the two companies together,
and ensure continued innovation in real estate
technology for the benefit of all clients and the
wider industry.

Annual Report Qube Global Software 3

The Year in Focus
During his 13 years at the helm of the
company, John Cuppello has led Qube to
sustained success and hell now play a
crucial role in its new future as part of
MRI Software. In this in-depth interview, he
reflects on exciting recent developments,
and reports on company progress.
4 Annual Report Qube Global Software
What have been the stand-out stories for the
company in 2016/2017?
There were plenty of notable developments in
the financial period this Annual Report covers, but
without doubt the biggest story came in October
2017 when it was announced that Qube had
been acquired by MRI Software. The acquisition
is based on our success and growth, not just
this past year but over a prolonged period. The
combined strength of the two companies ensures
that we are one of the biggest organisations in
each market we serve and we certainly look
forward to partnering with our new colleagues to
build on the solid foundation the Qube team has
put in place.
We are always proud to further our relationships
with the considerable number of organisations
using Qubes range of products, and it is with
great pleasure that we also welcomed 57 new
clients into the fold during the year. Retaining
customers, and winning new ones, has been
crucial to achieving our goals along with the
global expansion which remains a central pillar of
our ongoing efforts. This marketing activity has
been supplemented by successful recruitment
campaigns and a new Qube Global Software
office in Sydney. Now that Qube is part of MRI,
an even larger global organisation, there is even
more opportunity to deliver our leading solutions
internationally.
The immediate impact of the Qube Connect
Partner Programme gives further cause to
be optimistic, and it seems both customers
and prospects alike have embraced our new
ecosystem of complementary Partner solutions.
How has Qube adapted to the market?
There has been a much greater global focus
across the industry in recent times, and our
increased international capabilities are a
consequence of that shift. Wherever our clients
are based, its important that we offer a consistent
user experience for our customers and again,
that can only be enhanced by joining forces
with MRI.
We have also renewed our focus on technology
as we embrace the new proptech trend that is
enveloping the industry. Once again, the Qube
Connect Partner Programme has been vital in
this. So too has our commitment to deliver an
excellent customer experience.
Have there been any significant challenges to
overcome?
Success brings its own challenges, and increased
growth has meant that we have had to tackle
the issue of attracting and retaining talent to
support the expansion. It is vitally important to
ensure that the proper infrastructure is in place
to achieve our aims. We are continuing our
successful recruitment campaigns, and have a
comprehensive training programme in place to
provide the relevant knowledge and expertise.
What steps has Qube taken to continue
regular communication with its customer
base?
Qube World continues to be the centrepiece of a
year-round campaign to provide our users with all
the information they need, and it has become a
significant event in the property industry calendar.
Aside from our premier annual event, a well-
established programme of customer engagement
includes our product roadshows, an increased
Account Management function, e-newsletters,
user forums and training opportunities. In the
coming months, well see more involvement in
these streams from our Qube Connect Partners
as we explore ways of adding further value to the
range of content available.
Which elements of the Qube product suite
are generating most engagement right now?
Given what has already been said about the
increasing importance of user and customer
experience, its no surprise that features which
make our software easier to use and more
accessible have been of particular interest. Portals
and mobile apps have proved popular, allowing
users to log on to the software anywhere,
anytime. Development of both our Home Hub
and Task Hub have also been well received.
These tools use the latest techniques and allow
users to tailor their own dashboards and workflow
requirements.
Are there any wider industry issues impacting
on your short- or long-term planning?
The influence of new and emerging technologies
is something many companies, not just the
property industry, must consider and manage.
Artificial intelligence and machine learning are
very prominent at the moment and we continue
to look at ways of building these capabilities into
our solutions so that they are capable of learning
users preferences. Looking further ahead, we
believe Blockchain has the potential to trigger
seismic change in the industry and we have
committed to investigating and understanding its
full implications.
What is your vision for Qubes future?
We will continue to focus on maintaining Qubes
position as a leader in property technology,
ensuring that our solutions remain effective at
addressing the business requirements of the
real estate industry. Of course, our solutions now
encompass the complete MRI suite of products.
Its most certainly an exciting time to be part of
Qube, and we look forward to delivering even
greater value to all our clients worldwide.
Annual Report Qube Global Software 5
Qube Global Software:
Finance and investment
As highlighted in the interview with John Cuppello, Qube
has enjoyed sustained financial success in recent years.
That success has allowed for a significant investment
in our critical business functions, most notably in
development and customer support, which in turn brings
direct benefits for our customer base. Its also provided
extra impetus in terms of our international expansion,
helping drive increased operational capabilities and
recruitment drives. The figures below are extracted from
the latest published accounts.

FY 2016-2017 FY 2015-2016

Turnover 24,258,153 22,569,283

Operating Profit 2,875,458 3,005,616

Net Assets 5,471,705 5,328,716

6 Annual Report Qube Global Software

 Investment / Cost distribution: Growth in Professional Services and Customer
Financial Year 2016-17 Support investment over the past four years

Finance & 40
Administration
36
5%
Customer 32
Sales &
Support
Marketing
14% 28
20%
24

% 20
16

12

8
40
4
36
0 Professional
32 2013-14 2014-15 2015-16
Services 2016-17

28
Professional Customer
Professional Development Support
24 Services
Services 23%
38% 20
% Customer
Support
16

12

0
2013-14 2014-15 2015-16 2016-17

2013-14 2014-15 2015-16 2016-17

Annual Report Qube Global Software 7

Our customers
The Qube customer base expands
across all sectors
It was with great pride that we welcomed
57 new worldwide customers to Qube
Global Software in the 2016-2017 financial
year with contract wins coming from
across all of the sectors in which we offer
property technology solutions.
NHS Property Services, one of the largest
property owners in the UK, was among the most
notable additions selecting and implementing
Qubes software to manage its 3 billion portfolio.
Another significant sale came from Hong Kong
where HKR International Limited chose a Qube
solution to deliver leasing, accounting and
property maintenance.
Within the occupier market, we have sold
bespoke platforms for lease accounting, space
management and facilities management
to organisations in retail, leisure, industrial,
education, healthcare, transport and telecoms.
And, as we pursue opportunities for cross-selling
additional systems and functionality to assist our
customer base, Bath and North East Somerset
8 Annual Report Qube Global Software
Council a long-standing property management
client has installed a concurrent Planet facilities
management solution.
In the residential sector weve supplied systems
to more than 20 new organisations, including
solutions used to manage some of the UKs
biggest developments. Our new end-to-end
residential platform Qube Living also became the
first of its kind to market in the UK read more
about that on page 14.
Industry recognition
We have once again been delighted to receive
nominations and victories in various property
sector awards, including being named Best
Industry Supplier at the News on the Block
Property Management Awards. It gives us even
greater pleasure to say that weve witnessed
many of our customers win awards for their
continued success or the service they provide,
and we look forward to that once again being the
case next year.
Our Connect Partner Programme (featured on
page 12) reflects our desire to join forces with
the best solutions available, and whether it be
resident portals, sustainability consultancy, space
management, or many of the other fields we
cover, weve found the premier names have been
just as enthusiastic to be associated with the
Qube brand.
What our customers said about us
Each year, Qube runs a survey for all customers to offer feedback on their
respective systems and experiences. These comments were extracted from
the most recent results.

Powerful and flexible

software, configurable to meet
most business needs.
Janet Pritchard, National Trust
Qube is always very helpful when I
request assistance.
Carol Power, McGuinness Fleck
Qube is very user-friendly,
easy to understand and use,
and excellent for reporting.
Shilpa Mistry, Crabtree Property
Does what we require it to do,
plus more.
Kim Hepworth, West Country Estates

Excellent customer service,

top-quality consultants.
John de Cruz, Grange Management
Excellent customer service
Its got a brilliant reporting
tool and customer service.
Nilima Patel, William Pears
It is very good software, and can be

from the Support team. set as needed,
Magdalena Kubiak, Goold Estates
Trevor Parker, Premier Estates

Annual Report Qube Global Software 9

Our Customers

What our customers said about us

Each year, Qube runs a survey for all customers to offer feedback on their
respective systems and experiences. These comments were extracted from
the most recent results.

Qube is an excellent,
customer-focused service The best property management
software company there is.

provider.

Paul Froggatt, Serco
Nathan Spitzer, Alliance Managing Agents

Very happy with product and I have found Qube to be an
extremely professional and

service. competent service provider.
Sharon Collings, Michelmore Hughes Kimberley Gillingwater, IV Property Management

Qube is a professionally
organised outfit, and they make
a point of understanding a
User-friendly product and good
support service.

Tina Lomax, Wildheart

clients requirements.
Mark Fogg-Elliot, Sodexo Qube has been such an
amazing asset to our business,

Qube has a comprehensive and I would recommend it to

suite of property management anyone in the blink of an eye.

software.

Lester Truter, Hermes Investment
Kathy Wilson, KTS Estate Management Ltd

10 Annual Report Qube Global Software


We are once again delighted to welcome
customers to our annual conference,
Qube World, that takes place this
year at the state-of-the-art Park Plaza
Westminster Bridge on 31 October, 2017.
Set among the heart of political power in the
UK, the venue provides the perfect location for
our 2017 event featuring informative content,
quality speakers, product sessions and learning
opportunities for our users.
With recent company developments, were also
pleased to present a range of solutions from the
wider MRI group including the MRI Investment
Suite, MRI Fixed Assets and MRI AP Automation.
The iZone
The iZone is a hub of activity at Qube World,
where delegates can meet their Account
Managers and talk to our staff about our
comprehensive range of property management
software solutions. Theres also an opportunity to
meet representatives of both ARMA and IRPM, as
we bring trade associations into the event for the
first time.
Elevate: Qube Learning Academy
Elevate is the name for the Qube Learning
Academy, and delegates can go to the stand
where they can find out about the extensive
programme of learning and development
opportunities offered across the products.
The Qube Connect Partner Zone
The Partner Zone is where our 14 Partner
Sponsors will be ready and waiting to answer
any and all questions you might have about
their various solutions. There will be Partner
demonstrations taking place throughout the day,
and you can also take a break and have some fun
with a go on our Virtual Reality Experience.
Annual Report Qube Global Software 11
The Qube Connect
Partner Programme
More solutions, greater choice, enhanced opportunities
Now consisting of more than 20 members,
the Qube Connect Partner Programme has
gone from strength-to-strength in the past
year. Our collaborative approach gives us
even greater flexibility to deliver joined-up,
end-to-end solutions across the markets in
which we operate.
For more information on the Qube
Connect Partner Programme, go to
qubeglobal.com/qube-connect
12 Annual Report Qube Global Software
Benefits for our Partners
Collaboration and integration
Learn about the touchpoints of our respective
products, and explore the potential for joined-up
solutions.
New business opportunities
Work with our sales teams to generate new
prospects, and nurture enquiries into qualified
leads.
Joint marketing activities
Showcase your solutions and services to our
customer base through targeted campaigns.
Greater brand reach
Combine resources for joint sponsorships and
brand initiatives, and be part of our Qube World
conference.
Exclusive Qube previews
Get an advance view of our development
roadmap, and exclusive insight into new product
features.
Benefits for our Customers
An expanded product suite
Combine Qubes market-leading software with a
complementary best-of-breed Partner platform.
Flexible functionality
Bespoke features to suit your specific
requirements, delivered together as one
technology solution.
Networking opportunities
Meet our Partners at Qube events and other
key industry dates, and learn more about the
services they offer.
Enhanced capabilities
Lean on an even wider pool of knowledge and
experience from both Qube and our Partner
network.
Industry expertise
Gain access to key market insights and
informative content pieces from across the real
estate sector.
The MRI Solution Suite
We help you take your real estate
business where you want to go
n Comprehensive and Flexible Technology
n An Open and Connected Ecosystem
n Dedicated to Client Success
In todays market, data is more readily available than ever before and there
is a software system for virtually every need. The ability to organise that
data into actionable business insights and integrate those systems into one
cohesive solution is essential for both efficiency and accurate business
analysis. MRI Softwares comprehensive and flexible platform features
innovative tools and highly configurable reporting that deliver tangible
business benefits and help you achieve your aims.
That capability is now Qubes capability, and the combined range of
market-leading products means both the current and future client bases
of Qube and MRI have unrivalled choice and flexibility when it comes
to accessing best-in-class technology solutions that meet any and all
requirements of the real estate industry.
Annual Report Qube Global Software 13
Embracing transformative change
Insights into Technology and the Real Estate Sector
Technology has led to a revolution in
business operations throughout the world,
and its one that shows no signs of slowing.
The changes have had an undoubted
impact on the property sector, and the way
in which real estate and FM professionals
carry out their day-to-day jobs however
theres a feeling that many property
companies have so far resisted the kind
of transformative change seen in finance,
leisure, tourism or retail.
The vast majority of investors
90% are optimistic about
the role technology can play
in improving customer
service
14 Annual Report Qube Global Software
In August and September, 2016, Qube Global
Software conducted an industry-wide survey
targeting the widest possible spectrum of real
estate professionals, in an effort to discover where
they believe their businesses to be on the journey
to technological maturity, how theyre using the
software already available to them, and what
steps theyre taking to becoming ready for future
advancements.
The research coincided with a definite increase
in awareness of technology within the real estate
sector, as organisations begin to understand what
they can do to improve business efficiency and
customer service. Our findings certainly support
that theory, but also demonstrate that a significant
proportion are still resisting transformative
change.
Budgetary constraints and not fully understanding
the potential are the primary obstacles, but the
rising expectations of customers and stakeholders
whether that be occupiers, tenants,
leaseholders, vendors or buyers is something
that cannot be ignored. Changing ways of
working, particularly the growth of mobile-based
systems and the need for greater collaboration
between professionals, will drive demand for
technology.
Only 5% of businesses see
themselves as technology
pacesetters
There is also a need to catch up, because
the next phase of game-changing technology
is coming in the form of robots and artificial
The complete findings from the survey
intelligence and while there is awareness of this are available in our White Paper
in the industry, it appears there may be a lack of
Embracing transformative change:
preparation. Despite the huge strides that have
been made, the technological revolution is still Insights into Technology and the Real
only in its infancy and the most interesting times Estate Sector. This can be downloaded
are still to come.
from our website, qubeglobal.com
Here at Qube, weve been at the forefront of
developing and deploying technology for the real
estate sector as we aim to equip our customers 27% of property and facilities
managers are actively
with the tools needed to tackle the ever-
changing requirements they have to meet. This is
something well continue and enhance, with the
aim of ensuring our users reap the many benefits
looking at how artificial
technology can bring.
intelligence can be
incorporated into their business
87% of block managers, and
model
58% of investors, reported
seeing an increase
in
customer expectations 50% of respondents said
that their current real estate or

75% of those surveyed say FM solution has allowed them

there has been little

or no to automate manual
departmental integration processes
within their organisation
Annual Report Qube Global Software 15
Our approach to proptech

In addition, weve aligned with industry bodies

Qube is one of the largest technology such as the UK Proptech Association and the RICS
Technology Affiliate Program as we continue to
suppliers in the property industry, and explore the impact of developing technology
within the real estate sector.
so we have a natural interest in how
real estate is developing more of an Qube invests in proptech
appetite for tech. As we ourselves adapt pioneer Engage
to and evolve with the trends, we have In January 2017, Qube announced a strategic
Partnership with Engage Property Technology to
two core approaches to our proptech deliver self-service resident portals within the
growing Build-To-Rent sector.
collaboration and investment to ensure The platform is fully integrated with Qubes
we continue to offer transformative own software, and significantly enhances our
offering in a sector that is very much driving
technology solutions. technological change through increased service
level expectations.

Were also continuing to commit resources in our

For instance, in the residential market we core solutions, improving processes and making
are working with other proptech and service the user experience better through comprehensive
companies to combine solutions creating an research and development initiatives.
industry-wide ecosystem. Indeed, this is not new,
its been a unique part of our model for a number
of years, and as such we have more than 50
integrations with our applications.

Our joining-up process is enabled by the Qube

Connect Partner Programme, and we are always
looking to work with other companies in the
sector that can add value to property processes
and continue to build this best-of-breed network.

16 Annual Report Qube Global Software

Product Development Focus
The Qube Home Hub: A new way of proactively
managing your property portfolio
Just one output of our extensive research and Providing your information how you want
development programme is the Home Hub, it, when you want, the Home Hub gives a
released in June 2017 and available in the latest visual representation of your chosen business
version of Qube Horizon. processes.

It allows users to Personalise, Analyse and To learn more about its many features, visit the
Prioritise the information that is important to them, iZone at Qube World or complete a contact form
offering real-time portfolio data at your fingertips. at qubeglobal.com

Annual Report Qube Global Software 17


Qube Living is a new best-of-breed
solution that demonstrates our
commitment to the proptech revolution.
It has the capability to change the way
organisations manage properties in the
residential sector, allowing them to deliver
first-rate customer service to residents.
Living
Built on Qubes established and award-winning
products, the solution brings together an
unrivalled collaboration of lettings, management
and resident self-service technologies. Its not just
a concept, its reality and its here now.
There has been a seismic change in residential
property management in recent times, much
of this driven with the growth of Build-to-Rent
developments in the UK. A desire to drive
efficiency and grow return on investment has
been a catalyst for the introduction of more
professional and intelligent business processes,
18 Annual Report Qube Global Software
as has the need to satisfy increasing customer
expectations. To achieve this, organisations across
the residential market are reaching out for better
technology to help them achieve their aims.
Having been a market-leader in residential
property technology for 40 years, Qube Global
Software is well versed in adapting to new and
emerging trends in this sector. As such, Qube
Living has been developed to meet the new
demands, and has been engineered to fulfil and
exceed the most rigorous of requirements.
It provides unrivalled tools to deliver solutions to
the three major pillars of the residential sector
and each component is rich with tangible
business benefits:
1 Sales and lettings
Advanced functionality allows users to take
full control when marketing properties online
through the leading websites such as Rightmove
and Zoopla, as well as being able to produce
marketing materials and promotional emails.
Agents can show and match prospective
residents with available units through interactive
presentations, and the software includes a fully
integrated signature capability to automate the
customer sign-up process. Onboarding is smooth
for the resident, and legal compliance is ensured.
This element of Qube Living is enabled by Qube
SLM, a trusted product that has been utilised by
the sales and lettings industry for nearly 20 years.
Deployed by some of the sectors biggest names,
the system offers a powerful, accessible and
flexible option for lettings teams.
Qube Living: Powerful technology
taking residential brands to the
next level

2 Property management to allow us to accelerate our developments in

Credit control and debt recovery is automated, portals.
saving valuable time and effort, and there
are extensive reporting options including the Qube Living is the first solution in the UK to offer
capability of assessing the efficiency of income an all-encompassing service for the residential
collection. The software can also tackle complex market and it gives agents the tools to manage
accounting obligations, including multi-company every aspect of their customers journeys.
and joint-venture requirements. Key documents,
such as tenancy agreements and inventories,
can be sorted in a dedicated document manager.
One of our core solutions in this area will act as
this element of the solution either the Qube PM
or Horizon product. This is especially useful if a
customer is already using one of these products,
likely as they are the most widely used systems of
their kind in the market. They can then easily build
out their Build-to-Rent technology with the other
components.

3 Resident engagement
A customisable portal can be utilised to
manage the online customer journey including
applications, payments and referencing and
also open up additional revenue streams with
the provision of value-added services once
the customer has joined the development, for To drive our residential solutions forward, Trevor Youens was
instance amenity bookings, concierge services
and event bookings. Residents can also access appointed to the role of Managing Director of Residential
documents on their tenancy and unit easily online Solutions in May 2017 alongside his position as head of the
through the portal. Above all, these online tools
Qube SLM product. With extensive and varied experience in
will deliver a sense of place to a development
and ensure customers stay longer in the property. residential sales and lettings, Trevor has been instrumental in
This component is delivered by the Qube Engage the development of Qube Living and his remit now is to focus
resident portal. We have invested heavily in our
portal offerings and have purchased a stake in the
on delivery of solutions to the entire sector.
development company behind the Engage portal

Annual Report Qube Global Software 19

Qube Global Software worldwide office locations
EUROPE THE AMERICAS ASIA PACIFIC MIDDLE EAST

9 King Street 10 North High Street 1 Fullerton Road Burjuman Tower

London Suite 110 #02-01 18th Floor
EC2V 8EA West Chester One Fullerton Sheikh Khalifa Bin Zayed
United Kingdom Pennsylvania 049213 Road
T: +44 (0)20 3861 7100 19380 Singapore Dubai
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T: +1 888 275 7823 E: info@qubeglobal.com E: info@qubeglobal.com
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Dukes Ride 26-2612 Windsor House
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Berkshire 500 King Street West Hong Kong
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United Kingdom Toronto E: info@qubeglobal.com
T: +44 (0)20 3861 7100 M5V 1L9
E: info@qubeglobal.com Canada PO Box 5287
T: +1 437 836 3697 Mount Maunganui
Westgate House E: info@qubeglobal.com Tauranga 3150
Westgate New Zealand
Sleaford T: +64 7 575 6474
Lincs E: info@qubeglobal.com
NG34 7RJ
United Kingdom PO Box 3141, Redfern
T: +44 (0)20 3861 7100 Sydney NSW 2016
E: info@qubeglobal.com Australia
T: +61 2 9037 2611
Harcourt Centre E: info@qubeglobal.com
Harcourt Road
Dublin
D02 HW77
Ireland
T: +353 (0)1 477 3950
E: info@qubeglobal.com
2016-2017 | V1 2017

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