Woodbridge Township, New Jersey
Overall Rank: 73
Category: Finance & Accounting
Category Rank: 6
- Top Software Company of 2021
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.
The company was founded in 1995 and is led by CEO and Founder Marc Betesh, COO Clark Convery, and SVP Marketing Erinn Tarpey. Recently, the company announced that Guy Zerega would join the company as SVP of Sales. The imperative for companies to implement lease accounting and management software has never been more important. New lease accounting standards ASC 842, GASB 87, and IFRS 16 will have a material impact on financial leaders across all industries.
Today, lease management and administration are more complex than ever before. Organizations across the globe have been impacted by the COVID-19 pandemic and are shifting their business models to accommodate accelerated digital transformation. Many of these same organizations are simultaneously racing to understand and adopt new lease accounting standards. Failure to do so is not an option – there’s too much at stake. Now is the time to not only ensure compliance, but also identify areas for financial savings.
Visual lease is a centralized solution that empowers organizations to manage, analyze, maximize, streamline and report on their leased asset portfolios from one centralized location. With an incredibly intuitive user interface, the cloud-based software drives:
Data Simplification – Visual Lease effortlessly organizes all lease data, enabling users to locate important information in mere seconds. This facilitates the ability to centralize and automate necessary processes that generate reporting, journal entries, disclosures and more.
Compliance – Understanding that all businesses have different needs, Visual Lease supports GAAP, GASB and IFRS reporting standards, and provides users with full control over their entire lease portfolio.
Financial Savings – By enabling accounting teams to save time and effort, Visual Lease creates the opportunity for users to uncover areas of opportunity within their portfolio, which can translate into impactful savings for their business.
The Visual Lease team regularly enhances its software to anticipate and accommodate its users’ needs. In December 2020, Visual Lease launched its Integrations Hub, providing its customers with flexible, open platform access to a range of third-party applications. Committed to continued innovation and unparalleled customer service, Visual Lease empowers organizations to transform lease compliance requirements into financial opportunities.
Visual Lease encourages its employees to innovate, own, care, adapt, and achieve excellence with poise. From how employees are treated, to how they treat one another, to how the company interacts with customers and the surrounding community, Visual Lease’s six employee values are the cornerstone of its culture.
Visual Lease recognizes that it’s essential to establish a culture of trust between leadership and employees. The team creates a safe space for employees to bring forward issues, and provide opportunities for respectful workplace dialogue through company-hosted townhalls.
Visual Lease makes every effort possible to hire and retain top talent from all ethnic and cultural backgrounds. The company’s recruiters source talent from a variety of platforms and channels. The organization partners with multiple schools to advertise on their job boards and also, offer internship opportunities throughout the business.
Visual Lease has also provided paid time off for its employees to participate in organized community beach clean-up events and has sponsored additional clean-up efforts. The company feels it is important to offer rewarding team-building programs that boost employee morale and also, have a positive effect on the community. Visual Lease supports two primary charities – Affordable Housing Alliance and Habitat for Humanity – regularly providing employees, customers, and partners with opportunities to give back. The team also proudly supports Rutgers Center for Women Business
“We started gathering [lease] data 18 months prior to implementation. It is very time-consuming to locate and gather the required fields within each lease. Contracts changed and there were new leases and amendments to be made, which caused more work to be done than anticipated. No matter how much you prepare your leases beforehand, there is always more information that will need to be gathered.” – Nick Domicile, Director of Financial Reporting and Technical Accounting, Apex Tool Group
“Early on, we hired temporary employees to gather leases across the organization, including leases for various buildings and locations, equipment and embedded leases located within contracts. Embedded leases took a large majority of the project – they required a lot of time to assist with identification.” – James Rogers, Senior Financial Analyst Penn State Health
“I love working at Visual Lease because everyone brings their authentic self to work every day and the cross-departmental collaboration is second to none.” – Taralynn VanBrunt, Manager, Training Services, Visual Lease