Independent Audit Validates Manhattan’s Computer Controls, Data Processing Controls and Lease Transactional Processing Capability
SUNNYVALE Calif, March 27, 2018—Trimble (NASDAQ: TRMB) announced today that its Manhattan™ Integrated Workplace Management System (IWMS) has obtained a Service Organization Control (SOC 1) Type 1 attestation for its Information Technology General Computer Controls (ITGC). In addition, the data processing component of its recently launched Lease Compliance modules were also included in the attestation. These modules support the new lease accounting regulations, ASC 842 and IFRS 16, from the U.S. Financial Accounting Standards Board (FASB) and International Accounting Standards Board (IASB). The independent audit was conducted in the U.S. and UK by RSM, a leading accounting firm.
Manhattan IWMS is a modular, enterprise software solution for planning, managing and optimizing an organization’s real estate portfolio. Manhattan is designed for the entire facility lifecycle to streamline processes, improve control, maximize resource utilization and help reduce total costs.
RSM conducted the SOC 1 audit of Manhattan based on the standards and guidelines set by the American Institute of Certified Public Accountants (AICPA). The audit firm assessed written documentation of the internal cloud computing controls over financial reporting in a software-as-a-service (SaaS) environment, which can be important to the audit of a customer’s financial statements.
In addition to testing ITGCs, Trimble expanded the scope of the SOC 1 testing to also include Manhattan’s data processing controls over transactional processing within its Lease Compliance module.
“We recognized that many organizations are concerned about the complexity of the new FASB and IASB lease accounting standards and the significant impact they could have on their financial statements and accounting technology,” said David George, general manager of Real Estate & Workplace Solutions for Trimble Buildings. “We wanted to give assurance to CFO’s, financial accounting professionals and corporate real estate professionals by seeking independent validation that Manhattan meets or exceeds industry standards over ITGC, data processing and lease accounting calculation controls. It is rewarding to find that the investment and technological innovation that Trimble has put into developing an advanced lease accounting solution has been validated by a leading independent accounting and auditing firm.”
About Trimble Buildings
Trimble Buildings provides the widest breadth of technology solutions for managing real estate portfolios, optimizing building construction projects and streamlining workplace operations. Trimble solutions are tailored for each phase of the building lifecycle—from the initial survey to design, construction and operation—and enable stakeholders such as architects, engineers, contractors, building managers and property owners to gain agility and insight. With the industry’s only construction-ready BIM and full range of tools and content to streamline team collaboration, Trimble solutions make data from complex projects more meaningful and actionable to improve productivity and achieve operational excellence.
Trimble is transforming the way the world works by delivering products and services that connect the physical and digital worlds. Core technologies in positioning, modeling, connectivity and data analytics enable customers to improve productivity, quality, safety and sustainability. From purpose built products to enterprise lifecycle solutions, Trimble software, hardware and services are transforming a broad range of industries such as agriculture, construction, geospatial and transportation and logistics.
Positioning-centric information is changing the way people, businesses and governments work throughout the world. By applying Trimble's advanced positioning solutions, productivity increases and safety improvements are being realized.