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 compliance in 2017, a division that equally continues to grow 2x per year.
“There is no doubt that ASC 842 lease accounting compliance 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.
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SOURCE Quarem