Discover why Visual Lease is a Leader in the first-ever analyst report covering the lease accounting and administration software market
- Current considerations for lease accounting and administration
- Current trends in lease accounting and administration software
- Advice for buyers evaluating and implementing software
- In-depth vendor profile including solution strengths, challenges facing customers, and buyer considerations
Download the Report
Who’s on the list - and why
This report provides a thorough evaluation of the lease accounting and lease management solution provider landscape. Over the last two years, IDC cross-compared the product strategies and capabilities of the vendors in this space through multiple system demos, customer references and surveys designed to collect details on platform functionality, roadmap, integrations, security and global use.
Their analysis was limited to providers meeting the following criteria:
- SaaS or cloud hosted solutions only – no on-premise solutions
- Lease solution that stands on its own – not functionality built into a larger system
- Minimum of $10 Million annual revenue in 2022 from at least two geographic regions
- In market for at least 2 years
- Ability to support compliance with one of the following: ASC 842, IFRS 16, GASB 87
- Visual Lease
- MRI Software
- Lease Accelerator
- Lease Query
- Tango Analytics
About the Report
This is the first analyst report to provide a comprehensive evaluation of the combined lease accounting and lease administration capabilities of more than a dozen software providers.
The COVID pandemic fundamentally changed the relationship many businesses have with their leased assets – particularly real estate. Depending on the industry, some organizations scaled up, others significantly scaled back, and many found themselves locked into contracts for assets they cannot use.
The lease accounting standards introduced further complexity. While the transition dates for IFRS 16 and ASC 842 for public companies came before COVID, the effective date for private companies and GASB 87 came soon after, requiring entities to accurately represent their leases on the balance sheet and introducing unprecedented complexity.
Now more than ever, businesses need software that can provide better visibility, easier modifications, streamlined payment management and automated journal entries. Without the right internal controls in place, businesses open themselves up to the very real risk of regulatory scrutiny and costly fines or audits.
"IDC believes that vendors looking to improve their market positions need to focus on adapting to challenges like new technologies, evolving regulations, and unprecedented changes to the leasing market post-pandemic. With these challenges in mind, convergence will be the priority as more vendors seek to integrate additional capabilities such as facility management and ESG/sustainability into their existing lease accounting and administration solutions.”