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Qube Global Software

Annual Report

Local roots. Global presence.


World-class innovation
Qube joins MRI Software to create a
real estate technology powerhouse

Qubes extensive property and financial


On 2 October, MRI Software, a global management capabilities, as well as facilities
management, integrated workplace management
leader in real estate technology solutions, systems (IWMS) and space management
solutions, complement MRIs existing offerings.
announced the acquisition of Qube Global Together, the robust product suite offers greater

Software. The deal extends MRIs already choice and flexibility for the combined client base.

Patrick J. Ghilani, CEO, MRI Software


worldwide reach, with the company now The global real estate sector is growing at

serving more than 6000 clients with a unprecedented rates. By uniting MRIs strength and
history in North America with Qubes European

global team of more than 1200 employees. 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.

2 Annual Report Qube Global Software


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

What have been the stand-out stories for the


During his 13 years at the helm of the company in 2016/2017?
company, John Cuppello has led Qube to There were plenty of notable developments in
the financial period this Annual Report covers, but
sustained success and hell now play a without doubt the biggest story came in October
2017 when it was announced that Qube had
crucial role in its new future as part of been acquired by MRI Software. The acquisition
is based on our success and growth, not just
MRI Software. In this in-depth interview, he this past year but over a prolonged period. The
combined strength of the two companies ensures
reflects on exciting recent developments, that we are one of the biggest organisations in
each market we serve and we certainly look
and reports on company progress. 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.

4 Annual Report Qube Global Software


How has Qube adapted to the market? Which elements of the Qube product suite
There has been a much greater global focus are generating most engagement right now?
across the industry in recent times, and our Given what has already been said about the
increased international capabilities are a increasing importance of user and customer
consequence of that shift. Wherever our clients experience, its no surprise that features which
are based, its important that we offer a consistent make our software easier to use and more
user experience for our customers and again, accessible have been of particular interest. Portals
that can only be enhanced by joining forces and mobile apps have proved popular, allowing
with MRI. users to log on to the software anywhere,
anytime. Development of both our Home Hub
We have also renewed our focus on technology and Task Hub have also been well received.
as we embrace the new proptech trend that is These tools use the latest techniques and allow
enveloping the industry. Once again, the Qube users to tailor their own dashboards and workflow
Connect Partner Programme has been vital in requirements.
this. So too has our commitment to deliver an
excellent customer experience. Are there any wider industry issues impacting
on your short- or long-term planning?
Have there been any significant challenges to The influence of new and emerging technologies
overcome? is something many companies, not just the
Success brings its own challenges, and increased property industry, must consider and manage.
growth has meant that we have had to tackle Artificial intelligence and machine learning are
the issue of attracting and retaining talent to very prominent at the moment and we continue
support the expansion. It is vitally important to to look at ways of building these capabilities into
ensure that the proper infrastructure is in place our solutions so that they are capable of learning
to achieve our aims. We are continuing our users preferences. Looking further ahead, we
successful recruitment campaigns, and have a believe Blockchain has the potential to trigger
comprehensive training programme in place to seismic change in the industry and we have
provide the relevant knowledge and expertise. committed to investigating and understanding its
full implications.
What steps has Qube taken to continue
regular communication with its customer What is your vision for Qubes future?
base? We will continue to focus on maintaining Qubes
Qube World continues to be the centrepiece of a position as a leader in property technology,
year-round campaign to provide our users with all ensuring that our solutions remain effective at
the information they need, and it has become a addressing the business requirements of the
significant event in the property industry calendar. real estate industry. Of course, our solutions now
Aside from our premier annual event, a well- encompass the complete MRI suite of products.
established programme of customer engagement Its most certainly an exciting time to be part of
includes our product roadshows, an increased Qube, and we look forward to delivering even
Account Management function, e-newsletters, greater value to all our clients worldwide.
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.

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

Council a long-standing property management


The Qube customer base expands client has installed a concurrent Planet facilities

across all sectors


management solution.

In the residential sector weve supplied systems


It was with great pride that we welcomed to more than 20 new organisations, including
solutions used to manage some of the UKs
57 new worldwide customers to Qube biggest developments. Our new end-to-end
residential platform Qube Living also became the
Global Software in the 2016-2017 financial first of its kind to market in the UK read more
about that on page 14.
year with contract wins coming from
Industry recognition
across all of the sectors in which we offer We have once again been delighted to receive
nominations and victories in various property
property technology solutions. sector awards, including being named Best
Industry Supplier at the News on the Block
Property Management Awards. It gives us even
NHS Property Services, one of the largest greater pleasure to say that weve witnessed
property owners in the UK, was among the most many of our customers win awards for their
notable additions selecting and implementing continued success or the service they provide,
Qubes software to manage its 3 billion portfolio. and we look forward to that once again being the
case next year.
Another significant sale came from Hong Kong
where HKR International Limited chose a Qube Our Connect Partner Programme (featured on
solution to deliver leasing, accounting and page 12) reflects our desire to join forces with
property maintenance. the best solutions available, and whether it be
resident portals, sustainability consultancy, space
Within the occupier market, we have sold management, or many of the other fields we
bespoke platforms for lease accounting, space cover, weve found the premier names have been
management and facilities management just as enthusiastic to be associated with the
to organisations in retail, leisure, industrial, Qube brand.
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


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 Qube is very user-friendly,
easy to understand and use,
most business needs.
Janet Pritchard, National Trust and excellent for reporting.
Shilpa Mistry, Crabtree Property
Qube is always very helpful when I
request assistance.

Carol Power, McGuinness Fleck
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 Its got a brilliant reporting
tool and customer service.
Nilima Patel, William Pears
Excellent customer service
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


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.

We are once again delighted to welcome With recent company developments, were also
pleased to present a range of solutions from the
customers to our annual conference, wider MRI group including the MRI Investment
Suite, MRI Fixed Assets and MRI AP Automation.
Qube World, that takes place this
The iZone
year at the state-of-the-art Park Plaza The iZone is a hub of activity at Qube World,
where delegates can meet their Account
Westminster Bridge on 31 October, 2017. 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, Benefits for our Partners


the Qube Connect Partner Programme has
Collaboration and integration
gone from strength-to-strength in the past
Learn about the touchpoints of our respective
year. Our collaborative approach gives us products, and explore the potential for joined-up
solutions.
even greater flexibility to deliver joined-up,
end-to-end solutions across the markets in New business opportunities
Work with our sales teams to generate new
which we operate. 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
For more information on the Qube brand initiatives, and be part of our Qube World
Connect Partner Programme, go to conference.

qubeglobal.com/qube-connect
Exclusive Qube previews
Get an advance view of our development
roadmap, and exclusive insight into new product
features.

12 Annual Report Qube Global Software


Benefits for our Customers
The MRI Solution Suite
An expanded product suite
We help you take your real estate
Combine Qubes market-leading software with a
complementary best-of-breed Partner platform. business where you want to go

Flexible functionality
n Comprehensive and Flexible Technology
Bespoke features to suit your specific n An Open and Connected Ecosystem
requirements, delivered together as one n Dedicated to Client Success
technology solution.
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
Networking opportunities data into actionable business insights and integrate those systems into one
Meet our Partners at Qube events and other cohesive solution is essential for both efficiency and accurate business
key industry dates, and learn more about the analysis. MRI Softwares comprehensive and flexible platform features
services they offer. innovative tools and highly configurable reporting that deliver tangible
business benefits and help you achieve your aims.

Enhanced capabilities That capability is now Qubes capability, and the combined range of
market-leading products means both the current and future client bases
Lean on an even wider pool of knowledge and
of Qube and MRI have unrivalled choice and flexibility when it comes
experience from both Qube and our Partner
to accessing best-in-class technology solutions that meet any and all
network.
requirements of the real estate industry.

Industry expertise
Gain access to key market insights and
informative content pieces from across the real
estate sector.

Annual Report Qube Global Software 13


Embracing transformative change
Insights into Technology and the Real Estate Sector

In August and September, 2016, Qube Global


Technology has led to a revolution in Software conducted an industry-wide survey
targeting the widest possible spectrum of real
business operations throughout the world, estate professionals, in an effort to discover where
they believe their businesses to be on the journey
and its one that shows no signs of slowing. to technological maturity, how theyre using the

The changes have had an undoubted software already available to them, and what
steps theyre taking to becoming ready for future

impact on the property sector, and the way advancements.

in which real estate and FM professionals The research coincided with a definite increase
in awareness of technology within the real estate

carry out their day-to-day jobs however sector, as organisations begin to understand what
they can do to improve business efficiency and

theres a feeling that many property customer service. Our findings certainly support
that theory, but also demonstrate that a significant

companies have so far resisted the kind proportion are still resisting transformative
change.

of transformative change seen in finance, Budgetary constraints and not fully understanding

leisure, tourism or retail. 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
The vast majority of investors that cannot be ignored. Changing ways of

90% are optimistic about working, particularly the growth of mobile-based


systems and the need for greater collaboration
between professionals, will drive demand for
the role technology can play technology.

in improving customer
service Only 5% of businesses see
themselves as technology
pacesetters
14 Annual Report Qube Global Software
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


as has the need to satisfy increasing customer
Qube Living is a new best-of-breed expectations. To achieve this, organisations across
the residential market are reaching out for better
solution that demonstrates our technology to help them achieve their aims.

commitment to the proptech revolution. Having been a market-leader in residential

It has the capability to change the way property technology for 40 years, Qube Global
Software is well versed in adapting to new and

organisations manage properties in the emerging trends in this sector. As such, Qube
Living has been developed to meet the new

residential sector, allowing them to deliver demands, and has been engineered to fulfil and
exceed the most rigorous of requirements.

first-rate customer service to residents. 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:

Living 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
Built on Qubes established and award-winning marketing materials and promotional emails.
products, the solution brings together an Agents can show and match prospective
unrivalled collaboration of lettings, management residents with available units through interactive
and resident self-service technologies. Its not just presentations, and the software includes a fully
a concept, its reality and its here now. integrated signature capability to automate the
customer sign-up process. Onboarding is smooth
There has been a seismic change in residential for the resident, and legal compliance is ensured.
property management in recent times, much This element of Qube Living is enabled by Qube
of this driven with the growth of Build-to-Rent SLM, a trusted product that has been utilised by
developments in the UK. A desire to drive the sales and lettings industry for nearly 20 years.
efficiency and grow return on investment has Deployed by some of the sectors biggest names,
been a catalyst for the introduction of more the system offers a powerful, accessible and
professional and intelligent business processes, flexible option for lettings teams.

18 Annual Report Qube Global Software


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
E: info@qubeglobal.com United States T: +65 6832 5108 T: +971 4 509 6675
T: +1 888 275 7823 E: info@qubeglobal.com E: info@qubeglobal.com
Wellington Business Park E: info@qubeglobal.com
Dukes Ride 26-2612 Windsor House
Crowthorne King Street 311 Gloucester Road
Berkshire 500 King Street West Hong Kong
RG45 6LS 3rd Floor T: +852 3960 6425
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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