New release adds long list of enhancements to World’s best-selling asset finance software
Minneapolis, Minn. — July 10, 2019 —IDS, a global provider of full lifecycle management solutions for asset and equipment finance, today announced the launch of InfoLease 10.6, an update to the industry’s most widely deployed portfolio management software. InfoLease 10.6 is immediately available as an upgrade for InfoLease 10.x on-prem customers. All new and enhanced features for InfoLease will be delivered to SaaS customers who have deployed IDS Cloud through regular upgrade cycles.
“The asset finance market is changing rapidly and we intend to stay in front of that change,” said David Hamilton, IDS CEO. “Our customers are looking for new ways to remove cost and friction from their existing processes — and they are searching for innovative ways to grow their businesses. This greatly updated version of InfoLease gives them new capabilities they need to accomplish their cost reduction and business expansion goals.”
Highlights from the InfoLease 10.6 release include:
- Vertex O Integration for Tax Compliance. Strengthen tax department control over taxation rates and amounts with the pre-built integration of Vertex O-Series tax engine with InfoLease. All rates and amounts are systematically calculated by Vertex O Series. System users are not able to modify tax rates or amounts within InfoLease 10 reinforcing adherence to pre-determined tax strategy.
- Dual Bookings. Increased back office control determining who has authorized booking privileges. Dual booking approvals can be established enabling some users to enter but not book new contracts, while other users have full contract booking rights.
- Cash Basis Operating Lease Renewals. New InfoLease renewal type allowing an operating lease renewal to be on a cash basis. Configuration can be set to default and streamline movement between lease types.
- Cash Refunds. Increased efficiency in the refund process allowing money refund from unapplied suspense with appropriate controls (matching money that came from unapplied suspense to the amount of the refund.)
- Mass Data Inventory Entry and Inventory Gain/Loss. Increased efficiency with the ability to run a mass update process to move assets to inventory or dispose assets from inventory with the Mass Data Update utility.
Leading asset finance enterprises build their businesses on full lifecycle solutions from IDS. Our software streamlines the entire asset finance process from origination to portfolio management to end-of term. Our new cloud-based offerings integrate into any asset finance ecosystem. The scalability, flexibility and economy of our cloud solution makes IDS best-in-class asset finance software accessible to banks, independents and captives of all sizes. Headquartered in Minneapolis, Minn., the company has offices in the United Kingdom, Australia, Singapore and India. For additional information, visit www.idsgrp.com or email [email protected]
Media Contact: Ray Wizbowski – [email protected]