Press release: Visual Lease announces strong second quarter results

Company reports key strategic investments and double-digit annual recurring revenue growth year-over-year

Woodbridge, NJ – July 20, 2021 — Visual Lease, provider of the #1 lease optimization software, today announced results from the second quarter of 2021, including double-digit annual recurring revenue growth year-over-year, as well as industry recognition for its robust software capabilities and sustained high growth. The company also continued to make strategic investments across its product and service offerings to help organizations leverage their lease accounting process to unlock a range of business opportunities.

“We recognize that lease accounting compliance is a long game, and there’s a lot to lose and gain in this process if you’re not on top of the changing requirements,” said Marc Betesh, founder and CEO of Visual Lease. “We’re continuing to make investments in our product and team to not only streamline our customers’ lease accounting compliance, but also help them achieve efficiencies and hard-dollar savings that can have a real long-term impact on their businesses. In fact, we recently conducted a survey of 500 senior finance and accounting professionals, and 100% of them recognized these additional benefits stimulated by the adoption of the new lease accounting standard. We know and understand what those benefits are and show our customers how to achieve them.”

In Q2 2021, Visual Lease:

Product

• Enhanced its reporting performance, resulting in a doubling of the speed of generating disclosure, journal entry summaries and roll-forward reports.
• Further expanded its GASB support, launching technical accounting features to streamline the handling for lessor termination calculations, schedule modifications and reports.
• Launched short-term calculations, empowering users to easily create short-term calculations irrespective of the lease terms.
• Introduced its Customer Advisory Board, assembling a select group of senior financial management and real estate executives from across its base of valued customers to share insights and solicit feedback on Visual Lease’s solutions and services.

Talent

• Announced Guy Zerega as SVP of Sales, bringing in an experienced software sales leader to help the organization continue to grow and scale with the industry.
• Welcomed Pamela Cosmillo as Director of Human Resources, placing an increased emphasis on its people and position as a leading workplace.
• Grew its employee base by more than 35% year-over-year, hiring across a range of departments and levels within the organization.

 Industry Recognition

• Continued to expand its Alliance Partner network, solidifying its partnership with Jackson Cross Partners and Alvarez & Marsal to deliver increased value to shared customers navigating new lease accounting standards (ASC 842, IFRS 16 and GASB 87).
• Named a “High Performer” and “Momentum Leader” in the lease administration category by G2.
• Recognized as a Top Workplace in 2021 by NJ.com.
• Honored with a Bronze Stevie® Award in the Fastest Growing Company of the Year category in The 19th Annual American Business Awards®.

To keep up with announcements from Visual Lease, visit the Visual Lease Newsroom.

About Visual Lease

Visual Lease is the provider of the #1 lease optimization software for managing, analyzing, streamlining and reporting on lease portfolios. Developed by industry-leading lease professionals and CPAs, it combines GAAP, IFRS and GASB-compliant lease accounting controls with easy, flexible and automated lease management processes. More than 700 of the world’s largest publicly traded, privately-owned and public sector organizations rely on Visual Lease to control their lease portfolios, integrate with their existing business systems and maintain regulatory compliance. Committed to ongoing innovation and unparalleled customer service, Visual Lease helps organizations transform their lease compliance requirements into financial opportunities. For more information, visit visuallease.com.

 

Media Contacts

Erica Bonavitacola
Visual Lease
T+1 732 860 4838
ebonavitacola@visuallease.com

 

Geena Pickering
Gregory FCA
T+1 212 398 9680
gpickering@gregoryfca.com