Company continues to make strategic investments to help organizations manage, account for and maximize every asset within their lease portfolio
Woodbridge, NJ – April 19, 2021 — Visual Lease, the #1 lease optimization software, today announced results from the first quarter of 2021, which included new product features, resources and branding, as well as recognition for its high level of performance and customer satisfaction. Following its third consecutive year of double-digit revenue growth, Visual Lease is poised for another successful year ahead.
“Lease accounting standards ASC 842, IFRS 16 and GASB 87 have opened financial leaders’ eyes to the risks within their lease portfolios. We’ve anticipated this awakening, and we’ve been planning for it,” said Visual Lease’s founder and CEO, Marc Betesh. “In Q1, we continued to enhance our platform, create and distribute resources and expand our bench of industry experts to provide companies with what they need to not only minimize risk, but to also find opportunities across their lease portfolios.”
In Q1 2021, Visual Lease:
- Enhanced its most frequently used reports (Ad Hoc, Roll-Forward and Disclosure & Lease Accounting Standard Reports), which resulted in a 50% reduction in time for full-year report generation and greater overall performance.
- Released a new Standards Options Report, providing an easy-to-read summary of critical options information, and empowering users to take action based on key details within their portfolio.
- Announced a new Schedule Upload Feature, enabling users to quickly generate abandonment schedules with itemized interest and amortization entries.
- Expanded GASB support, empowering clients to perform a sale-leaseback within the platform, accounting for the sale and subsequent leasing of a previously owned asset.
- Unveiled its new branding, elevating its look and feel to mirror its ingenuity, passion and commitment to helping companies achieve confident lease accounting compliance with ease and unlock business opportunities within their lease portfolios.
- Launched its Lease Accounting Solution Transition (LAST) PlannerTM, an interactive and easy-to-use tool that provides organizations with a custom plan to facilitate their move from one lease accounting platform to another.
- Introduced its Lease Accounting Milestone Planner (LAMP)TM webinar series, providing companies with unique insight and resources to help them successfully plan out and schedule the steps needed to transition to ASC 842 and GASB 87.
- Welcomed a new Senior Technical Accountant, Rosemary Courtney, CPA. Having served as a financial leader for public, private and not-for-profit companies, Rosemary brings deep expertise to the team, which she will use to help Visual Lease continue to innovate and expand its offerings.
- Announced its Consult an Expert program, providing organizations with direct access to Visual Lease’s deep bench of accounting professionals and lease specialists.
- Continued to grow its Partner Alliance network, joining forces with industry-leading organizations to deliver increased value to shared customers:
- Expanded existing relationship with RSM US LLP to now include a managed services offering.
- Welcomed CFGI, the nation’s largest non-audit accounting advisory firm, to its Partner Alliance network.
- Solidified its partnership with Solomon Edwards Group (SEG), a national professional services firm focused on strategy execution.
- Named High Performer and Momentum Leader for Spring 2021 by G2:
“Visual Lease has been identified as a High Performer based on its high levels of customer satisfaction and quality of support ratings from real software users on G2, the world’s leading B2B software review platform. These reviews largely come from enterprise customers that Visual Lease serves,” said Dominick Duda, G2 Research Analyst. “Visual Lease’s high performance on the Spring 2021 Grid® Report for Lease Administration is a testament to both their product’s performance and the team behind their product. This position is powered by the authentic voice of the customer, captured in the verified user reviews of solutions in G2’s Lease Administration Software category.”
To keep up with announcements from Visual Lease, visit the Visual Lease Newsroom.
About Visual Lease
Visual Lease is 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 and privately-owned corporations 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.
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