Founder and current CEO, Marc Betesh, transitions to Executive Chairman as company continues to expand and evolve
WOODBRIDGE, NJ / ACCESSWIRE / August 1, 2022 / Visual Lease, the #1 lease optimization software provider, today announced that Robert Michlewicz has been named CEO. Marc Betesh, the founder and current CEO, will now serve as Executive Chairman. The transition in management structure will accelerate Visual Lease's growth and ensure it remains the premier solution provider for lease accounting, administration and optimization.
'Robert has demonstrated that he has the experience, insight and market knowledge to scale our business to new heights,' said Visual Lease's founder and CEO, Marc Betesh. 'I started Visual Lease in 1996 to provide an easy way for companies to have visibility into their leases, because I saw firsthand how even the slightest misstep in managing a lease can disrupt operations and cost millions. The lack of controls around the second-largest expense always baffled me. Now that the new lease accounting standards have brought leases onto the balance sheet, they are under intense scrutiny by finance and accounting departments everywhere. I am thrilled to pass the torch to a leader that has extensive experience in the financial accounting software space. Robert will help us innovate, expand and grow our offering to provide even more value to our customers.'
New accounting standards and complex business priorities, including inflation, talent shortages and the ongoing struggle to adjust in a newly post-pandemic world have brought lease management and accounting to the forefront for businesses, but there is still much to accomplish in the space. According to the most recent report from The Visual Lease Data Institute, The 2022 Lease Market Analysis: Lease Accounting Readiness, despite leases typically making up a large portion of an organization's budget, nearly three-quarters (71%) of private companies cannot say with confidence how much their leases cost their business.
'It's an exciting time to be at Visual Lease, which was recently recognized as the market leader for both lease administration and accounting software,' said Robert Michlewicz. 'I am energized to expand Visual Lease's value to our global customers by empowering them in meeting their needs within the office of finance while optimizing the operational effectiveness of their lease portfolios.'
Michlewicz, who recently joined Visual Lease as President, has more than two decades of experience in the financial technology sector, driving operational excellence in several high-growth companies. Most recently, he was Chief Strategy Officer at Trintech, a leading provider of global Financial Corporate Performance Management (FCPM) software. During his nearly 11 years there, the company maintained double-digital annual recurring revenue (ARR) growth, year-over-year. Prior to Trintech, Michlewicz was the Regional President for Bowne & Co. (former NYSE), the largest global disclosure management firm and was President of Chas. P. Young Co., where his company played a vital role in newly expanded SEC regulatory compliance reporting.
To keep up with announcements from Visual Lease, visit the Visual Lease Newsroom.
About Visual Lease
Visual Lease is the #1 lease optimization software provider. We help organizations become compliant with FASB, IFRS and GASB lease accounting standards, while simultaneously improving the financial, legal and operational performance of their leases. Our easy-to-use SaaS platform is embedded with more than three decades of best practices from major corporations and leading industry professionals. Our award-winning solutions are used by 1,000+ organizations to manage 500,000+ real estate, equipment and other leased assets. Committed to ongoing innovation and unparalleled customer service, Visual Lease helps organizations transform their lease compliance requirements into financial opportunities. For more information, visit visuallease.com.
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SOURCE: Visual Lease
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