Company achieves double-digit YOY annual recurring revenue, customer and employee growth
WOODBRIDGE, NJ / ACCESSWIRE / April 18, 2022 / Visual Lease, the #1 lease optimization software provider, today announced results from Q1 2022, reporting an increase of nearly 40% in both customer and employee count, year-over-year. The company also announced an increase of nearly 30% in annual recurring revenue year-over-year, continuing its path of sustained double-digit growth. Today, Visual Lease helps more than 1,000 public and private companies, as well as government entities, with lease accounting compliance and the financial, legal and operational performance of their leased assets.
"With the introduction of the new lease accounting standards - IFRS 16, ASC 842 and GASB 87 - the stakes are much higher for organizations that do not have a sustainable way to effectively manage and track their leases," said founder and CEO, Marc Betesh. "Because we've spent more than three decades helping companies manage their lease portfolios, we know exactly what is required to avoid the consequences of misrepresenting lease data during an audit. We provide the software, services and subject matter expertise that make achieving and maintaining lease accounting compliance one less thing that accountants and financial managers have to worry about. With Visual Lease, organizations will also benefit from a friction-free annual audit, in addition to greater visibility across their portfolios as their leases continue to evolve."
Here are a few of the milestones Visual Lease achieved in Q1 2022:
- Expanded its Alliance Partner network across premium accounting firms and services companies, including F.H. Black & Company and Withum, to offer mutual clients best-in-class software and services.
- Hired across all departments and expanded its commitment to ongoing innovation by scaling the Product & Engineering teams by 35% year-over-year.
- Was named a Momentum Leader and a High Performer in the Lease Administration category in the G2 Spring Grid Report.
- Continued investments to further enhance the Visual Lease user interface (UI), building on its reputation of having an intuitive and easy-to-use platform.
- Held its Q1 Customer Advisory Board (CAB) meeting, gathering select financial management and real estate executives from its network of customers spanning the retail, hospitality, telecommunications, construction, financial services and manufacturing industries, to share insights and solicit input into the company's solutions, services and strategic investments.
- Established an AWS data center in Frankfurt, Germany, enabling EU-based clients to benefit from stronger performance, newer services and features, as well as automatic compliance with residency and regulatory laws regarding their data.
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 1,000+ 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.
Media Contacts
Erica Bonavitacola
Visual Lease
T+1 732 860 4838
ebonavitacola@visuallease.com
SOURCE: Visual Lease
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