Case Study: MISTRAS Group achieves ASC 842 compliance and boosts productivity with Visual Lease

How a global organization transitioned to ASC 842 and powered productivity gains by using Visual Lease

Mistras Group, a global provider of technology-enabled asset protection solutions with 1,800+ leases across 120 facilities in 10 countries (including a fleet of ~1,500 vehicles), faced decentralized lease management in Excel and lacked a central repository to monitor rent, CAM notices and meet new ASC 842 disclosure requirements. In 2018 the company sought a lease administration and accounting vendor to ensure compliance and improve operational oversight, ultimately selecting Visual Lease.

Visual Lease implemented a centralized system of record, assisted by its professional services team and standardized import templates, delivering SOC‑1 reports and aggregated disclosures to calculate Right‑of‑Use assets and liabilities under ASC 842. The solution made implementation faster than expected, enabled read‑only access for auditors and brokers (significantly reducing audit response time), and gave Mistras Group the reporting and controls to stay compliant while improving lease-related decision making — all with ongoing platform enhancements driven in part by Visual Lease.

Mistras Group

Tommy Tobolski

Treasurer