Visual Lease Announces Record-Breaking Third Quarter

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Visual Lease , the #1 lease optimization software provider, today announced results from the third quarter of 2021, including sustained double-digit annual recurring revenue and customer growth.

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Business Wire, Inc.Business Wire, Inc.
Retrieved on: 
Monday, October 11, 2021
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Data Management, Residential Building & Real Estate, Commercial Building & Real Estate, Technology, Manufacturing, Construction & Property, REIT, Building Systems, Architecture, Other Manufacturing, Software, Completeness, CEO, GASB, Solution, Compliance, Public sector, Introduction, ASC, 87, Journal entry, Organization, Property management, Bookkeeping
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NEW JERSEY, United States
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VISUAL LEASE
Summary
Key Points: 
  • Visual Lease , the #1 lease optimization software provider, today announced results from the third quarter of 2021, including sustained double-digit annual recurring revenue and customer growth.
  • Theres a huge shift in the way that organizations are looking at their leases, said founder and CEO of Visual Lease, Marc Betesh.
  • As companies revisit their leases to address these demands, theyre realizing how much a dedicated solution like Visual Lease can help.
  • Launched The Visual Lease Data Institute , publishing unique data, trends and insights on lease accounting, management and optimization to help inform its product and community of customers and partners.


Visual Lease, the #1 lease optimization software provider, today announced results from the third quarter of 2021, including sustained double-digit annual recurring revenue and customer growth. The company continues to make strategic investments in its product, services, people and infrastructure and is now helping more than 800 organizations achieve lease accounting compliance and improve the financial, legal and operational performance of their leases.

“There’s a huge shift in the way that organizations are looking at their leases,” said founder and CEO of Visual Lease, Marc Betesh. “They are trying to manage evolving work patterns while simultaneously staying compliant with the new lease accounting rules. As companies revisit their leases to address these demands, they’re realizing how much a dedicated solution like Visual Lease can help. By standardizing and centralizing their lease data, organizations are improving lease performance, reducing costs and streamlining their audit processes.”

In Q3 2021, Visual Lease:

Product

  • Streamlined its reporting performance, making it easier for users to quickly generate a Journal Entry Summary Report.

  • Improved the process around financial entries when importing calculations and transaction values.

  • Introduced GASB 87 Complete and ASC 842 Proven Path, which are end-to-end lease accounting solutions and services packages for public sector entities and private companies with fewer than 100 leases.

  • Launched The Visual Lease Data Institute, publishing unique data, trends and insights on lease accounting, management and optimization to help inform its product and community of customers and partners.

Talent

  • Grew its employee base by more than 25% year-over-year, hiring across a range of departments and levels within the organization.

  • Named a Best Place to Work in New Jersey by NJBIZ.

Industry Recognitions

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

About Visual Lease

Visual Lease is the #1 lease optimization software provider. We help organizations become compliant with FASB, IFRS and GASB lease accounting standards, while simultaneously improving the financial, legal and operational performance of their leases. Our easy-to-use SaaS platform is embedded with more than three decades of best practices from major corporations and leading industry professionals. Our award-winning solutions are used by 800+ organizations to manage 500,000+ real estate, equipment and other leased assets. 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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