Tuesday, 25 August 2020 09:57

Cloud-based building management firm sees profit rise despite pandemic

Urbanise chief executive Saurabh Jain. Urbanise chief executive Saurabh Jain. Courtesy Urbanise

Australian cloud-based building management solution provider Urbanise has bucked the trend during the pandemic, increasing its revenue for the year by 19.5% to $9.65 million year-on-year, according to unaudited figures.

The ASX-listed company was started in Melbourne in 2007 at which time it was offering services connected to Internet-of-Things devices. Now the company is focused on management of apartment blocks and also strata management, the company's chief executive Saurabh Jain said. It went public in 2014.

Urbanise was initially developed as a communications platform for managing maintenance and asset services in Dubai. The emirate, part of the UAE, has many gated communities in its wealthier areas and these were the clients that Urbanise serviced.

Since then, the company claims it has become "the leading multi-tenant cloud-based provider of software-as-a-service platforms to strata and facilities managers and is being used in some of the tallest towers and most prestigious communities around the globe".

Jain said that the Urbanise mobile app could be used either by staff from a firm looking after a property or else tenants themselves to send notifications about service requirements, say for example, a broken window.

The Urbanise software kept track of these maintenance requirements and ensured they were attended to, he added.

In the three months to June 2020, Urbanise has taken on the Nikos Property Group, consultancy firm WT and Dubai Asset Management. The Dubai firm will use the Urbanise platform to manage 16,000 apartments.

“Urbanise is very excited with the overall performance of the business during the June quarter. This was a particularly uncertain time but there has been no material impact on the business from the COVID-19 pandemic," said Jain.

“This performance highlighted the mission-critical nature of our software and the resilience of our SaaS subscription model with its highly recurring revenue base and a customer retention rate of almost 100%.

“We have continued to pursue our pipeline of activities across our global footprint, as we witness an increased demand for Urbanise’s integrated strata and facilities solution.”

Jain said Urbanise had continued to invest in customer support and product development to enhance the user experience and drive cost efficiencies for clients.

“Some of these features, such as live Web chat and online interactive training, will allow us to further scale our platform around the world, across existing and new geographies and further consolidate our leading position as a cloud-based strata and facilities management solution,” he said.

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Sam Varghese has been writing for iTWire since 2006, a year after the site came into existence. For nearly a decade thereafter, he wrote mostly about free and open source software, based on his own use of this genre of software. Since May 2016, he has been writing across many areas of technology. He has been a journalist for nearly 40 years in India (Indian Express and Deccan Herald), the UAE (Khaleej Times) and Australia (Daily Commercial News (now defunct) and The Age). His personal blog is titled Irregular Expression.

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