WOODBRIDGE, NJ / ACCESSWIRE / September 19, 2023 / Visual Lease (VL), the #1 lease optimization software provider, today announced the company's newest offering, VL ESG Steward™, has been recognized by the Business Intelligence Group as a winner of a 2023 Sustainability Award under the category of Sustainability Product of the Year. This recognition comes on the heels of VL being named a Leader in the IDC MarketScape: Worldwide SaaS and Cloud-Enabled Lease Accounting and Administration Applications 2023 Vendor Assessment (doc # US48562222, August 2023).
'It is an honor to continue to receive industry recognition that not only celebrates VL's foundation as a centralized system of record for all lease financial, operational and legal data, but also acknowledges our commitment to help organizations harness their portfolio to prepare for emerging business needs and compliance requirements,' said Robert Michlewicz, Visual Lease's Chief Executive Officer. 'VL ESG Steward is uniquely designed to help companies track and report on the environmental impact of their owned and leased assets in accordance with the sustainability disclosure requirements from The International Sustainability Standards Board (ISSB), IFRS S1 and IFRS S2.'
The Visual Lease Data Institute (VLDI) has uncovered that 90% of organizations in the U.S. with more than 1,000 employees are looking to implement new sustainability goals over the next two to five years. VL ESG Steward is the first ESG reporting tool of its kind within the lease accounting and administration space specifically created to help organizations consolidate the records needed to track their environmental impact across their commercial real estate, fleet, equipment and more. With these insights in hand, businesses will be empowered to make better-informed decisions regarding how to reduce their carbon footprint in line with corporate goals and emerging global regulatory guidance.
'Recent research from The VLDI has also shown that with the new lease accounting standards in effect and a rising interest in sustainability, 84% of companies have prioritized lease management,' said Amie Durr, Visual Lease's Chief Product Officer. 'While the majority of organizations are just now realizing how critical their lease portfolio is to their financial and operational success, this is not a new concept for VL. Our entire platform is built on 25+ years of experience maximizing the value customers receive from their lease portfolio.'
The Sustainability Awards honor those who have made sustainability an integral part of their business practice. For-profit and not-for-profit organizations of all sizes submitted nominations, which were evaluated by business executives using the organization's proprietary and unique scoring system. Other solutions recognized under the category of Sustainability Product of the Year include IBM Environmental Intelligence Suite: Renewables Forecasting, S&P Global Sustainable1 Nature & Biodiversity Risk Solution, and Honeywell Emissions Management Suite.
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About Visual Lease
Visual Lease is the #1 lease optimization solution provider, empowering organizations to leverage their lease portfolio for strategic financial and operational outcomes. Our powerful and secure platform serves as a centralized system of record for all lease financial, operational and legal data, and is purpose-built to support every team that interacts with a company's lease portfolio. Informed by nearly three decades of experience, our solutions help companies easily sustain compliance with FASB, IFRS, GASB and ISSB reporting requirements, and mitigate the risks and maximize the value associated with their lease records. Our award-winning software is used by 1,500+ organizations to manage 1 million records across real estate, equipment and other leased assets globally. For more information, visit visuallease.com.
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SOURCE: Visual Lease
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