Independent Global Research Firm Rates Trimble's Manhattan as Market-Leading for FASB and IASB Lease Accounting Compliance Functionality
SUNNYVALE, Calif., Nov. 2, 2017 — (PRNewswire) — Trimble (NASDAQ: TRMB) today announced that independent global research firm Verdantix has named Trimble as a leader in the 2017 Green Quadrant Analysis for Integrated Workplace Management System (IWMS) vendors. Trimble's Manhattan software received the market-leading score for lease accounting functionality and received high marks for breadth of functionality for IWMS applications. The report also noted Trimble's strong momentum for large implementations and its ability to bring innovation to market by leveraging organizational resources of Trimble Buildings—a group dedicated to delivering solutions for managing the entire continuum of building construction and ongoing management of real estate and workplaces.
"With the continued innovation of Manhattan software, Trimble enables its customers to solve an evolving set of challenges," said David George, managing director of Trimble's Real Estate and Workplace Solutions. "This recognition by Verdantix reflects our commitment to helping customers manage increasingly complex real estate portfolios, dynamic workforce changes, reduction of resources and impending new regulations on lease accounting requirements."
As the only independent benchmark of IWMS solutions available on the market today, the Verdantix 2017 Green Quadrant for IWMS report offers a detailed comparison of the top vendors. According to the report, Trimble's Manhattan software earned high scores across all five core applications of an IWMS, making it one of the highest performers out of the vendors included in the study. Trimble's Manhattan also achieved market-leading scores for real estate management, with functionality to help firms adopt new Financial Accounting Standards Board (FASB) and International Accounting Standards Board (IASB) standards for lease accounting. According to the report, Trimble's IWMS uniquely provides an embedded, real-estate-specific subledger to enable firms to monitor their real estate spend against budgets. This capability brings all leases onto the balance sheet by capitalizing the leased assets in accordance with both the revised IASB and FASB standards and supports organizations today in preparatory and pre-transition activities before the 2019 deadline.
The latest version of Trimble's Manhattan software is available for demonstration and purchase. To learn more visit: http://realestate.trimble.com.
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. For more information visit: building.trimble.com.
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. For more information about Trimble (NASDAQ: TRMB), visit: www.trimble.com.