Visual Lease Named a Workday Innovation Partner to Help Organizations Provide Expanded View of Lease Portfolios
This integration will provide mutual customers with a comprehensive view of their lease portfolios, helping to enhance operational efficiency and control while mitigating risk
Visual Lease, a CoStar Group (NASDAQ:CSGP) brand and a premier platform for integrated lease management, accounting, and reporting, announced today that it has become a Workday Innovation Partner. This collaboration combines Visual Lease's platform for lease accounting and management with Workday Financial Management software to empower joint customers with a comprehensive view of their lease portfolios, helping them manage their financial ecosystem, from general ledger to lease-specific reporting, accurately and efficiently.
With this partnership, mutual customers can use a packaged solution including a standard set of preconfigured integrations that help automate the bidirectional exchange of financial data, provide more streamlined lease management, and help support compliance with FASB/IFRS and GASB 87/96 standards. The partnership comes on the heels of CoStar Group's recent acquisition of Visual Lease and is a testament to their commitment to broaden the solutions available to their customers.
"Our integration delivers real-time, accurate data across systems, empowering customers to enhance compliance, boost operational efficiencies, and minimize financial reporting risks, all while reducing costs," said Andy Florance, CoStar Group Founder and Chief Executive Officer. "This partnership with Workday further aligns the Visual Lease platform to provide accurate and timely information, which empowers our customers to continue confidently making strategic decisions and drive their business forward."
Shared customers will benefit from a comprehensive financial tool with Workday Financial Management, and a best-in-class solution for lease accounting and management with Visual Lease.
About CoStar Group, Inc.
CoStar Group (NASDAQ:CSGP) is a global leader in commercial real estate information, analytics, online marketplaces and 3D digital twin technology. Founded in 1986, CoStar Group is dedicated to digitizing the world's real estate, empowering all people to discover properties, insights, and connections that improve their businesses and lives.
CoStar Group's major brands include CoStar, a leading global provider of commercial real estate data, analytics, and news; LoopNet, the most trafficked commercial real estate marketplace; Apartments.com, the leading platform for apartment rentals; and Homes.com, the fastest-growing residential real estate marketplace. CoStar Group's industry-leading brands also include Matterport, a leading spatial data company whose platform turns buildings into data to make every space more valuable and accessible, STR, a global leader in hospitality data and benchmarking, Ten-X, an online platform for commercial real estate auctions and negotiated bids and OnTheMarket, a leading residential property portal in the United Kingdom.
CoStar Group's websites attracted over 134 million average monthly unique visitors in the fourth quarter of 2024, serving clients around the world. Headquartered in Arlington, Virginia, CoStar Group is committed to transforming the real estate industry through innovative technology and comprehensive market intelligence. From time to time, we plan to utilize our corporate website as a channel of distribution for material company information. For more information, visit CoStarGroup.com.
About Visual Lease
Powered by CoStar Group, Visual Lease is the premier platform for integrated lease management, lease accounting, and sustainability reporting. It is trusted by enterprises worldwide to seamlessly navigate complex portfolios. As the centralized system of record for all lease-related financial, operational, and legal data, Visual Lease supports every team involved in managing a company's leased and owned assets. Informed by nearly three decades of experience, our platform enables 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 leased assets records globally. For more information, visit visuallease.om.
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Media Contacts:
Matthew Blocher
CoStar Group
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T: 202-346-6774
Angie Lufrano
Caliber Corporate Advisors
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T: 510.517.2842