Woodbridge, NJ – April 19, 2023 — Visual Lease, the #1 lease optimization software provider, today announced its results from Q1 2023, reporting double-digit annual recurring revenue and customer percentage growth year-over-year. The company continues to invest in its platform and services to provide extended value to its growing customer base.
“This quarter, our customers used Visual Lease to demonstrate the strategic value of their leases, resulting in accelerated growth for our organization,” said Robert Michlewicz, CEO of Visual Lease. “Furthermore, we welcomed an impressive class of new customers who are using recent regulatory changes to enhance their business operations while simultaneously maintaining compliance. In March, we launched VL ESG Steward™, deepening Visual Lease’s commitment to being a strategic provider positioned to assist companies’ sustainability efforts across their portfolio of leased and owned assets. We are grateful to our loyal customers, industry experts and the hardworking VL team for their valuable contributions to our successful growth and platform expansion.”
In Q1 2023, Visual Lease:
- Announced the Launch of VL ESG Steward™A carbon accounting and ESG reporting solution designed to track and report on the environmental impact of an organization’s owned and leased asset portfolio, including energy consumption, water, biodiversity and greenhouse gas emissions. VL ESG Steward™ is the first tool of its kind within the lease management and accounting solution space and will help businesses and governments establish their ESG baseline, manage and report on emissions at an asset level and establish auditable controls to help teams work together, efficiently and reliably.
- Appointed Amie Durr as VL’s First Chief Product Officer
With nearly 15 years’ experience in product management, Durr is responsible for overseeing the organization’s product and engineering teams to ensure continued product innovation with even greater speed to market. Durr’s team lead the development of VL ESG Steward™.
- Launched Product Enhancements
Visual Lease enhanced existing product functionality and provided an updated user interface to its lease accounting system to effectively reduce load times and create efficiencies during a critical time of year for accounting and finance teams.
- Unveiled a New Report from The VL Data Institute (VLDI)
The 2023 Commercial Real Estate and Leasing Trend report from The VLDI reveals how businesses are changing and why they enter into new leases in response to the evolving workplace and economy. Highlighted in this recent analysis are lease term priorities, post-pandemic economy lease impact, ESG priorities and more. Findings from the research have been featured in Accounting Today, Yahoo! Finance, Benzinga, Globe St. and more.
To keep up with announcements from Visual Lease, visit the Visual Lease Newsroom.
About Visual Lease
Visual Lease, the #1 lease optimization software provider, empowers organizations to leverage their lease portfolio as a strategic asset. Our platform is uniquely designed to meet the needs of every team that interacts with a company’s lease portfolio to reduce risk, drive confident and sustained lease accounting compliance and provide the visibility required to make agile business decisions. Informed by nearly three decades of experience, our solutions help companies easily sustain compliance with FASB, IFRS and GASB lease accounting standards and implement proper lease controls to improve the financial, legal and operational performance of their leases. Our award-winning software is used by 1,000+ organizations to manage 500,000+ real estate, equipment and other leased assets globally. For more information, visit visuallease.com.
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