RealPage Completes SAS 70 Type II Audit
(April 6, 2005)—RealPage, Inc., a leading provider of products and services to the multifamily industry, today announced receipt of its final SAS 70 Type II audit report assessing the company’s compliance with a rigorous set of control objectives designed to ensure the integrity of transaction processing and overall security of client data hosted by RealPage. The certification was performed by Grant Thornton, LLP.
The SAS 70 was developed by the AICPA to allow hosting service providers such as RealPage to show that they have processes and controls in place to provide a stable and secure environment that can perform transaction processing and safely exchange company data. The SAS 70 may also be used by external auditors of RealPage’s clients to better understand internal controls at RealPage and tests applied to those controls that would be relevant to the auditors’ performance of financial statement audits.
“We’re thrilled about the SAS 70 report,” said Jim Charles, chief operating officer at RealPage. “It means our clients will not have to spend time and money sending their own auditors to audit RealPage in order to satisfy their financial reporting and controls obligations under Sarbanes-Oxley.”
In addition to helping customers meet reporting requirements, the report provides evidence to RealPage customers that the company maintains a rigorous set of internal controls for the protection of its clients’ data. “This has always been a priority for us, but these days it’s not just critical, it’s required,” said Charles.
RealPage plans to complete SAS 70 examinations going forward. The company has already received security certification from TruSecure.
Located in Carrollton, Texas, a suburb of Dallas, RealPage provides property management products and services to more than 20,000 apartment communities across the United States. It currently has three major product lines: OneSite©, an on-demand property management system that automates property management functions while providing real-time access to important data; CrossFire™, an on-demand property marketing system that automates and enhances the process of capturing and entering leads; and YieldStar™, an on-demand asset management system that helps owners and asset managers optimize asset values through revenue management, portfolio management and market intelligence. For more information, visit www.realpage.com.