Case Study: Apex Tool Group, LLC achieves ASC 842 compliance and streamlined global lease accounting with Visual Lease

Leveraging industry-leading lease accounting software for a global lease portfolio

Apex Tool Group, LLC, a global manufacturer with ~7,000 employees and $1.3B in revenue operating in 30+ countries, faced the challenge of consolidating a complex portfolio of 300+ equipment, vehicle and real estate leases to achieve ASC 842 compliance. To replace fragmented, Excel-based processes and create a single source of truth, they selected Visual Lease’s lease accounting SaaS to streamline data capture and reporting across decentralized teams.

Visual Lease delivered a configurable, user-friendly platform with hands-on implementation support, import templates and intuitive reporting dashboards; Apex Tool Group, LLC ultimately recorded roughly 120 material leases in the system. As a result of implementing Visual Lease, ATG adopted ASC 842, now runs all necessary lease calculations, produces quarterly journal entries and balance-sheet/income reports directly in the platform, and can quickly provide audit-ready lease detail to external auditors.

Apex Tool Group, LLC