Marc Betesh, CEO of Visual Lease, has been dedicated to providing visibility into leases long before the new lease accounting standards were introduced. As an attorney and leading expert on commercial lease negotiation, lease interpretation, and expense reimbursement clauses, Betesh has negotiated many lease agreements on behalf of his clients for financial concessions and benefits throughout his career. In his dedication to help clients optimally monitor their financial lease obligations, he recognized a crying need for technology to streamline lease management, therefore prompting what has turned into today’s robust lease accounting and management solution, Visual Lease.
The team at Visual Lease has paid very close attention to the current industry demands of the new lease accounting standards (ASC 842, IFRS 16, and GASB 87), and purposely built its SaaS (Software as a Service) lease accounting solution to streamline compliance for the new lease accounting requirements and account for unique nuances contained within each lease.
With access to lease data in real-time, users can easily track key lease data points and confidently generate financial disclosure reports to meet the requirements of ASC 842, IFRS 16 and GASB 87. The Visual Lease platform automates otherwise complex calculations and also provides a simple way to integrate necessary lease financial data into third-party systems, such as general ledger, accounts payable and accounts receivable.
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With access to lease data in real-time, users can easily track key lease data points and confidently generate financial disclosure reports to meet the requirements of ASC 842, IFRS 16 and GASB 87
In the future, Visual Lease is looking to continually improve its capabilities, such as incorporating AI functionality and process automation to further improve the platform’s efficiency. Additionally, the company is exploring ways to enhance lease comprehension through import tools and automated means of integration.
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Company
Visual Lease
Headquarters
Woodbridge, NJ
Management
Mark Betesh, Founder and CEO
Description
Visual Lease’s best-in-breed lease accounting and management software helps companies simplify lease accounting compliance.The Visual Lease platform automates otherwise complex calculations and also provides a simple way to integrate necessary lease financial data into third-party systems, such as general ledger, accounts payable and accounts receivable