Industry leaders join forces to streamline data management and maintain financial and sustainability reporting controls for real estate and equipment-related datasets
WOODBRIDGE, NJ / ACCESSWIRE / September 9, 2024 / Visual Lease (VL), the premier platform for integrated lease management, accounting, and reporting, today announced a strategic partnership with Workiva, the world's leading platform for assured integrated reporting, at Workiva Amplify 2024. Both industry leaders are committed to empowering mutual customers to streamline financial and sustainability reporting.
"At VL, we saw firsthand how challenging portfolio management was for the Office of Finance in adopting the accounting standards (ASC 842, IFRS 16, GASB 87 & 96)," said Robert Michlewicz, CEO of Visual Lease. "Sustainability reporting is no different, which is why last year, we launched VL ESG Steward, the first carbon accounting and sustainability management solution for enterprise real estate and equipment portfolios. VL's solutions are built on decades of industry-leading lease administration and accounting guidance, and we're thrilled to extend this unique value by partnering with Workiva. Our shared mission is to empower organizations in achieving transparent reporting, which includes the timely and growing need to accurately report against their sustainability goals."
This announcement comes at a critical time as new and evolving ESG disclosures impact organizations across the globe. While intended to bring transparency and accountability to sustainability reporting, these regulations have simultaneously increased scrutiny and the resulting burden on businesses.
"Navigating portfolio data for financial and non-financial reporting poses a distinctive challenge," stated Paul Volpe, Senior Vice President Solutions and Growth, Workiva. "Accurately depicting sustainability impact demands meticulous tracking of real estate and equipment changes alongside financial and climate implications. Through our technology partnership with Visual Lease, our solutions can automate data flows and ensure precision in meeting evolving sustainability disclosure standards and data validation for assurance as well as, empower our shared clients to make informed, data-driven decisions benefiting both their organizations and the environment."
The importance of dedicated sustainability management and reporting solutions is underscored by the significant role real estate and equipment leases play in many organizations' overall budget and carbon footprint. Managing these assets can be intricate, especially with leases involved, as portfolio changes affect spending, operational workflows, and environmental implications.
To learn more about how VL ESG Steward - recently named a Leading Compliance Solution by The Stevie Awards - helps organizations successfully report on this dynamic data, view our quick product overview video.
Visit VL at Workiva Amplify in the Amplify Hub. To learn more about VL and Workiva's partnership, global partner network, visit the link.
About Visual Lease (VL)
Visual Lease (VL) is the premier platform for integrated lease management and lease accounting, trusted by enterprises worldwide to navigate complex portfolios with precision and ease. As the centralized system of record for all lease-related financial, operational, and legal data, VL is purpose-built to support every team involved in managing a company's leased and owned assets. Informed by nearly three decades of experience, our platform integrates lease management, lease accounting, and sustainability reporting, enabling organizations to save time, mitigate risks, reduce costs, and support sustainability initiatives. Our award-winning software is used by 1,500+ organizations to manage more than 1 million real estate, equipment, and other leased asset records globally. For more information, visit visuallease.com.
About Workiva
Workiva Inc. (NYSE: WK) is on a mission to power transparent reporting for a better world. We build and deliver the world's leading cloud platform for assured integrated reporting to meet stakeholder demands for action, transparency, and disclosure of financial and non-financial data. Workiva offers the only unified SaaS platform that brings customers' financial reporting, Environmental, Social, and Governance (ESG), and Governance, Risk, and Compliance (GRC) together in a controlled, secure, audit-ready platform. Our platform simplifies the most complex reporting and disclosure challenges by streamlining processes, connecting data and teams, and ensuring consistency. Learn more at workiva.com.
Media Contact
Erica Bonavitacola
Visual Lease
T+1 732 860 4838
SOURCE: Visual Lease
