Visual Lease Named a Workday Innovation Partner to Help Organizations Provide Expanded View of Lease Portfolios
Visual Lease, a CoStar Group (NASDAQ: CSGP) brand, has been named a Workday Innovation Partner. The partnership integrates Visual Lease's lease accounting and management platform with Workday Financial Management software to provide customers with a comprehensive view of their lease portfolios.
The integration features preconfigured solutions that enable bidirectional exchange of financial data, streamlined lease management, and support for FASB/IFRS and GASB 87/96 compliance standards. Following CoStar Group's recent acquisition of Visual Lease, this partnership aims to deliver real-time data across systems, enhance compliance, improve operational efficiencies, and reduce financial reporting risks while minimizing costs.
Visual Lease, un marchio di CoStar Group (NASDAQ: CSGP), è stato nominato Workday Innovation Partner. Questa collaborazione integra la piattaforma di gestione e contabilizzazione dei contratti di locazione di Visual Lease con il software Workday Financial Management, offrendo ai clienti una visione completa dei loro portafogli di leasing.
L'integrazione include soluzioni preconfigurate che permettono uno scambio bidirezionale dei dati finanziari, una gestione semplificata dei contratti di locazione e il supporto per gli standard di conformità FASB/IFRS e GASB 87/96. A seguito della recente acquisizione di Visual Lease da parte di CoStar Group, questa partnership punta a fornire dati in tempo reale tra i sistemi, migliorare la conformità, aumentare l'efficienza operativa e ridurre i rischi nella rendicontazione finanziaria, contenendo al contempo i costi.
Visual Lease, una marca de CoStar Group (NASDAQ: CSGP), ha sido nombrada Workday Innovation Partner. La asociación integra la plataforma de gestión y contabilidad de arrendamientos de Visual Lease con el software Workday Financial Management, ofreciendo a los clientes una visión integral de sus carteras de arrendamientos.
La integración incluye soluciones preconfiguradas que permiten el intercambio bidireccional de datos financieros, una gestión simplificada de arrendamientos y soporte para los estándares de cumplimiento FASB/IFRS y GASB 87/96. Tras la reciente adquisición de Visual Lease por parte de CoStar Group, esta colaboración busca proporcionar datos en tiempo real entre sistemas, mejorar el cumplimiento, aumentar la eficiencia operativa y reducir los riesgos en los informes financieros, al tiempo que minimiza costos.
Visual Lease는 CoStar Group(NASDAQ: CSGP)의 브랜드로, Workday Innovation Partner로 선정되었습니다. 이번 파트너십은 Visual Lease의 임대 회계 및 관리 플랫폼을 Workday Financial Management 소프트웨어와 통합하여 고객에게 임대 포트폴리오에 대한 종합적인 뷰를 제공합니다.
통합 솔루션은 양방향 금융 데이터 교환, 간소화된 임대 관리, FASB/IFRS 및 GASB 87/96 준수 표준 지원을 위한 사전 구성된 솔루션을 포함합니다. CoStar Group이 최근 Visual Lease를 인수한 후, 이번 파트너십은 시스템 간 실시간 데이터 제공, 준수 강화, 운영 효율성 향상, 재무 보고 리스크 감소 및 비용 절감을 목표로 합니다.
Visual Lease, une marque de CoStar Group (NASDAQ : CSGP), a été désignée Workday Innovation Partner. Ce partenariat intègre la plateforme de gestion et de comptabilité des baux de Visual Lease avec le logiciel Workday Financial Management, offrant aux clients une vue complète de leurs portefeuilles de baux.
L’intégration comprend des solutions préconfigurées permettant un échange bidirectionnel des données financières, une gestion simplifiée des baux et le support des normes de conformité FASB/IFRS et GASB 87/96. Suite à l’acquisition récente de Visual Lease par CoStar Group, ce partenariat vise à fournir des données en temps réel entre les systèmes, améliorer la conformité, accroître l’efficacité opérationnelle, réduire les risques liés aux rapports financiers tout en minimisant les coûts.
Visual Lease, eine Marke der CoStar Group (NASDAQ: CSGP), wurde zum Workday Innovation Partner ernannt. Die Partnerschaft integriert die Mietvertragsbuchhaltungs- und Verwaltungsplattform von Visual Lease mit der Software Workday Financial Management, um Kunden einen umfassenden Überblick über ihre Mietportfolios zu bieten.
Die Integration umfasst vorkonfigurierte Lösungen, die einen bidirektionalen Austausch von Finanzdaten, eine optimierte Mietverwaltung sowie die Unterstützung der Compliance-Standards FASB/IFRS und GASB 87/96 ermöglichen. Nach der kürzlichen Übernahme von Visual Lease durch die CoStar Group zielt diese Partnerschaft darauf ab, Echtzeitdaten zwischen den Systemen bereitzustellen, die Compliance zu verbessern, die Betriebseffizienz zu steigern, finanzielle Berichtsriskien zu reduzieren und gleichzeitig Kosten zu minimieren.
- Strategic partnership with Workday expands CSGP's market reach
- Integration provides new revenue stream through joint customer solutions
- Enhanced product offering strengthens competitive position in lease management sector
- None.
Insights
CoStar's Visual Lease partnership with Workday enhances product offering but lacks financial impact details to significantly move the needle for the $33B company.
CoStar Group's recently acquired Visual Lease brand has formed a strategic partnership with Workday as an Innovation Partner, integrating their lease management platform with Workday's Financial Management software. This integration creates a bidirectional data exchange system that should help joint customers streamline lease management and maintain compliance with financial reporting standards (FASB/IFRS and GASB 87/96).
While partnerships with major enterprise software providers like Workday can be valuable for expanding market reach, this announcement lacks concrete financial projections or metrics that would signal material impact on CoStar's
The integration potentially creates a competitive advantage in the lease management software space by offering enhanced functionality through Workday's widely-used financial systems. However, without details on the size of the addressable market for this joint solution, customer adoption targets, or revenue expectations, investors have little basis to project meaningful financial impact.
For context, enterprise software partnerships typically take 12-18 months to generate meaningful revenue as sales cycles complete and implementations occur. This appears to be a positive but incremental business development rather than a transformative announcement that would significantly alter CoStar's growth trajectory or warrant a valuation reassessment.
This integration will provide mutual customers with a comprehensive view of their lease portfolios, helping to enhance operational efficiency and control while mitigating risk
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
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
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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250417438813/en/
Media Contacts:
Matthew Blocher
CoStar Group
mblocher@costargroup.com
T: 202-346-6774
Angie Lufrano
Caliber Corporate Advisors
visuallease@calibercorporate.com
T: 510.517.2842
Source: CoStar Group
FAQ
What does the Visual Lease and Workday partnership mean for CSGP customers?
How does Visual Lease's integration with Workday benefit financial reporting?
What capabilities does the Visual Lease-Workday integration offer for lease management?
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