New Visual Lease User

We have enough leases to justify a software solution versus sticking with Excel. The process starting with demonstrations, through contract discussions and negotiation, to implementation to go-live, were generally smooth. The implementation was simple and was managed in such an excellent way, we were able to go-live two weeks earlier than expected. Customer success is quick to respond to questions. Although we don't always like the responses where the system does not handle a particular situation, we are pleased with the professionalism and care taken to respond.

Pros

The software is very straightforward and easy to use. This solution allows us to stay organized and provides us the platform to be in compliance with ASC 842 Leases. In addition to this we were able to provide our auditors access to read-only documents and calculations and the audit was significantly smoother because of this capability.

Cons

There are some challenges to disposals/terminations of agreements. Improvements are needed to manage the entire life cycle of a leased asset, especially when it comes to accounting and compliance with the new lease standard.

Comprehensive Program/Great Customer Service

I can highly recommend VisualLease with no qualifications. They listen to their customers, and frequent updates to the leasing program are largely in direct response to customer needs. The company is very reliable, and offers other leasing services in addition to administering the lease management program.

Pros

We have been using VisualLease as our exclusive leasing program for almost seven years, and it has never failed to fulfill our leasing neeeds. Having all of our office leases easily accessible from anywhere by multiple users has allowed us to respond to every leasing question in a matter of minutes. The abstract function is extremely valuable in accessing quick information on specific topics, and the financial tracking function has cut our annual budgeting process time in half. I don't know how we'd manage our leases without Visual Lease. The best feature of VisualLease is the company's customer service. There is always a person available to respond immediately to every question and to find a solution to an issue in very short order. The new web version has virtually eliminated all technical issues, and new updates are frequent and well announced.

Cons

If there are any "cons," it might be that although the program is ultimately very user-friendly, it does takes some training at the begninning in order to learn all that the program has to offer. This is not really a "con" - it's just a simple learning experience which is to be expected with any new program.

first lease admin & accounting software for the company

positive experience with sales during request for proposal, very knowledgeable and patient implementation team led by [SENSITIVE CONTENT HIDDEN] allowing us to complete implementation on time, some hiccups with trying to have more customised info built into the accounting feed without having to incur additional costs but otherwise have appreciated being put in touch with technical expert [SENSITIVE CONTENT HIDDEN] to understand how the system does or does not accommodate for IFRS 16 specifics

Pros

ability to apply more than one accounting standard to a lease, ease of running reports and creating ad-hoc rpeorts, clear and easy to follow journal entries and lease amortisation schedules, clean user interface

Cons

very US-centric whereas we are UK company applying IFRS and would like more of the US terminology turned off and more of the IFRS 16 accounting rules evident and labelled as such in the application so that users can make direct correlation to what is in the IFRS rules

Efficient Program

Visual Lease has saved our company so much money, and has made many of our jobs much easier.

Pros

What I like most about this software is that I am able to keep all of our corporate leases organized with all critical dates and monthly financials. I also utilize the reporting system, making monthly rent payments easier and efficient.

Cons

Creating reports can be confusing at first, but once they are created reports are easy to generate when you need them.

4 year Visual Lease user

Pros

Visual Lease is a great product. I think what I like most is the constant improvement they make to the product to meet the needs of their clients. Training is offered on each new version or module that is being introduced.

Cons

There is really nothing that I don't like about the product or vendor. Until recently, it would have been the fact that they were not able to offer translation services when abstracting leases; however, that has been resolved and can now be provided.