Latest software release delivers lease portfolio management functionality to help customers more effectively address COVID-19 impacts
Woodbridge, NJ – October 9, 2020 – Visual Lease, the leader in lease accounting and management software, today announced its latest product release, version 20.5. This release includes lease accounting and reporting enhancements to provide faster performance and increased visibility into critical lease figures and modifications.
Designed to help customers more easily track and manage upcoming lease terms, the added functionality within the platform’s Roll Forward Report allows users to quickly identify important lease date information to inform termination and purchase decisions. “Providing our customers with the ability to more easily access these key datapoints gives a competitive advantage in the current economic climate,” said Marc Betesh, CEO of Visual Lease. “We identified a need in the market to create this critical functionality due to the ongoing impact of COVID-19 on businesses lease decisions.”
The latest release also enables lessors reporting under GASB 87 to run modification calculations within lease records. While generally useful for overall lease portfolio maintenance, this need has been more prevalent in recent months due to an increase in lease adjustments and terminations due to the impact of the global pandemic.
The 20.5 release also includes an investment in enhanced system performance. Customers will benefit from significant efficiency improvements, especially while running Payment Reports.
“Payment reports have become especially important as the COVID-19 pandemic forced many organizations to adjust rent payment schedules,” said Joe Fitzgerald, SVP of Lease Market Strategy at Visual Lease. “It’s more important than ever for accounting and real estate teams to be in lock step, and these performance enhancements in 20.5 enable that communication – and validation – to happen even faster.”
To learn more about Visual Lease’s lease management and accounting capabilities, please visit https://visuallease.com/solutions/
About Visual Lease
Visual Lease provides lease accounting and lease administration software solutions to help companies manage, analyze and report on their leased asset portfolios, including real estate, equipment and more. The company’s SaaS platform combines GAAP, IFRS and GASB-compliant lease accounting controls with sophisticated and flexible lease portfolio administration. Over 700 of the largest publicly traded and privately-owned corporations, retailers, hospitals and institutions around the globe rely on Visual Lease’s cloud-based SaaS platform to meet operational and compliance requirements. For more information, please visit visuallease.com.
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