This Spend Matters PRO Vendor Analysis provides an overview of Visual Lease and its lease accounting solution. Visual Lease’s customers use the solution to manage real estate and equipment leases while making decisions related to contracts day-to-day. Going forward, Visual Lease intends to increase supported integrations, add new workflows and eventually pull in relevant data, such as ESG metrics.
While Spend Matters has not extensively covered lease accounting in the past, its use cases and overall purpose are similar to contract lifecycle management (CLM) solutions, but with a more industry-specific angle. Just as procurement, finance, legal and other end users rely on CLM for — among other use cases — tracking, compliance and collaboration, Visual Lease’s end users rely on the solution to track real estate and equipment leases.
Another similarity to CLM is the increase in importance and, consequently, prominence of lease accounting solutions in recent years. In 2018, IFRS 16 and ASC 842 became effective for public companies, and in 2021, GASB 87 and ASC 842 became effective for private companies and government entities. As a result, it has become much more important for organizations to track their leases and remain compliant with new standards.
Visual Lease assists lease holders with its lease accounting and administration solution and through its built-in expertise which includes a robust partner network and a structured implementation and training system.
Here’s why Visual Lease matters:
- To the market — Visual Lease offers a lease accounting and administration solution for organizations (especially more mature organizations with large amounts of leases) to manage leases and track compliance.
Visual Lease provides customers with a structured implementation and training program along with a dedicated customer success manager to complement its solution.
- To potential buyers — Visual Lease offers a solution that excels at both lease accounting and administration, built-in expertise and a robust partner network for added benefits.
This Spend Matters PRO Vendor Analysis explains what differentiates this vendor, gives an overview of its capabilities and competitors, provides tech selection tips and closes with key analyst takeaways.