Lease optimization software provider redefines excellence with a single system of record for lease accounting, management and sustainability tracking
WOODBRIDGE, NJ / ACCESSWIRE / January 18, 2024 / Visual Lease (VL), the #1 lease optimization software provider, today announced its results from 2023, reporting sustained double-digit annual recurring revenue and customer percentage growth, year-over-year.
"Visual Lease's accomplishments in 2023 serve as a launchpad for our journey ahead," said Robert Michlewicz, VL's Chief Executive Officer. "Drawing upon our 25+ years of deep domain expertise and inspired by the strategic input we continue to seek and incorporate from our customers and partners, we've made focused investments in our platform and support offerings to increase the value to our users and partners. We also continue investing in our people to foster cross-departmental collaboration and support expanded growth and development opportunities for our team. As a result, VL has been consistently recognized for its unique ability to help enterprises leverage their lease portfolio to drive more strategic financial and operational outcomes."
In 2023, Visual Lease:
Solutions & Services
- Launched its newest offering, VL ESG Steward™, the first carbon accounting and sustainability management solution for enterprise real estate and equipment portfolios. Since its launch, VL has released several new capabilities, including managed emissions factors for International Energy Grids, intelligent imports to establish organizational boundaries and upload sustainability entries at scale, detailed reports and exports, advanced user permissions and flexible configurations.
- Introduced product enhancements, including updating the user interface of its lease accounting solution, delivering a new Currency API to automatically update and synchronize foreign exchange rates, enhancing its GASB Roll Forward Report for lessees to gain visibility into asset and liability activity that occurred in the reporting period and elevating its Accumulated Amortization feature.
- Expanded its network of consulting, reporting, technology and data partners, providing additional financial and operational benefits to mutual customers by strengthening its existing relationships with Cresa Lease Administration, Scribcor and others. VL also deepened its relationship with managed services partner RSM US LLP.
- Hosted its second annual Customer Advisory Board (CAB) Summit in San Antonio, Texas, a multi-day event where select customers and partners gathered to discuss industry trends, as well as review and provide feedback on VL's roadmap.
- Announced the winners of its annual Customer Excellence Awards, recognizing American Axle Manufacturing, Compass and Quanta Services for capitalizing on VL's unique capabilities to streamline critical workflows, promote cross-departmental collaboration and ensure data accuracy. VL also recognized RSM US LLP as its Partner of the Year for the work it is doing to help organizations implement processes and technologies to recognize risks and opportunities across their lease portfolios.
- Established Technical Account Managers (TAMs) to address enterprise clients' evolving business needs, extending value to direct customers and supporting the company's growing global partner network.
Industry Recognition
- Named a Leader in the IDC MarketScape: Worldwide SaaS and Cloud-Enabled Lease Accounting and Administration Applications 2023 Vendor Assessment (doc # US48562222, August 2023), the first analyst report to provide a comprehensive evaluation of the combined lease accounting and lease administration capabilities of more than a dozen solution providers.
- Received industry recognitions for the VL ESG Steward platform extension, recognized as a finalist for a Software as a Service (SaaS) award within the category of Best SaaS Product for CSR, Sustainability and ESG, and also named a Sustainability Product of the Year by the Business Intelligence Group.
- Recognized as a Leader in Enterprise Lease Administration and Enterprise Lease Accounting, as well as an overall Leader in the Lease Accounting and Lease Administration categories by G2, quarter-over-quarter.
- Unveiled new research under The Visual Lease Data Institute (VLDI), including The 2023 Commercial Real Estate and Leasing Trend report and The 2024 Office of Finance Outlook: Environmental Impact Reporting. Findings from the research have been featured in The Wall Street Journal, Accounting Today, Yahoo! Finance, Benzinga, Globe St., CPA Practice Advisor and more.
Leadership
- Appointed Amie Durr as VL's first Chief Product Officer, 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.
- Announced Kathryn Eskandarian as VL's first Chief Financial Officer, having previously served as the organization's SVP of Finance & Accounting. Eskandarian is responsible for VL's financial operations, including corporate financial planning, audit and tax functions, as well as its IT, legal and human resources departments.
- Welcomed Gene Cook as Vice President of Global Partners, responsible for helping the company expand the value it provides to its growing network of Global Partners across leading accounting firms, professional services organizations, commercial real estate firms and solution providers.
Culture
- Named a Best Place to Work in New Jersey by NJBIZ for the fourth consecutive year, recognized for its culture, strong leadership, high levels of employee satisfaction and the many growth and development opportunities provided to the team.
- Held its Summer Innovation Days, gathering team members from across the organization to come together and share creative ideas for developing new platform capabilities to support customers' needs and align with its corporate vision.
- Hosted its inaugural VL Week, providing an opportunity for employees to learn, connect and apply key concepts that are critical to supporting its customers, collaborating with its global partners and achieving shared corporate goals.
To keep up with the latest findings from The Visual Lease Data Institute and additional announcements from Visual Lease, visit the Visual Lease Newsroom.
About Visual Lease
Visual Lease is the #1 lease optimization solution provider, empowering organizations to leverage their lease portfolio for strategic financial and operational outcomes. Our powerful and secure platform serves as a centralized system of record for all lease financial, operational and legal data, and is purpose-built to support every team that interacts with a company's lease portfolio. Informed by nearly three decades of experience, our solutions help companies easily sustain compliance with FASB, IFRS, GASB and ISSB reporting requirements, and mitigate the risks and maximize the value associated with their lease records. Our award-winning software is used by 1,500+ organizations to manage more than 1 million real estate, equipment and other leased asset records globally. For more information, visit visuallease.com.
Media Contact
Erica Bonavitacola
Visual Lease
T+1 732 860 4838
SOURCE: Visual Lease