Quarem sales revenue surpasses 100% growth for
two consecutive years
HOUSTON, Dec. 9, 2022
/PRNewswire/ -- Commercial real estate software provider
Quarem has recorded triple-digit revenue growth in both 2021 and
2022, the company announced today.
"Our sales grew by 101% in 2021 and we just closed December with
exactly the same growth of 101% for 2022," said Quarem President
John Rice.
Since introducing their second generation Quarem platform in
2018, the company has seen revenue double each year, with the
exception of 2020, which posted growth of 51%.
A literal pioneer in the cloud-based leased management vertical,
Quarem has been providing CRE owned and leased portfolio management
software and services since 2001. They expanded their software to
include ASC 842 and IFRS 16 lease compliancy in 2017, a division
that equally continues to grow 2x each year.
"There is no doubt that ASC 842 lease accounting compliancy has
been a factor in our growth, but the real reason we're growing so
fast is due to our Client Services division which offers back-end
lease administration services, including in-house lease abstraction
services," said Rice.
The company expects another year of similar growth, especially
as CRE occupiers consolidate the use of commercial space and
explore ways to efficiently utilize their CRE.
Rice added: "Looking into 2023, we see somewhere between 80 to
100% growth. Clients want their lease administration and ASC
842/IFRS 16 to be managed on the same platform, one source of
truth. They also want the services component with a company that
'answers the phone.'"
About Quarem: Quarem is a cloud-based CRE platform
built to encapsulate and strategically organize all lease data,
documents, critical dates and ASC 842/IFRS 16 compliance activities
associated with CRE lease and property portfolios. The Quarem
platform serves users on a global scale across 71 countries and
spans across many different industries. Quarem's team of
experienced CRE professionals is dedicated to improving real estate
processes and inefficiencies through sophisticated commercial real
estate technology.
Quarem
John Rice, President
888-950-7272
info@quarem.com
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SOURCE Quarem