MINNEAPOLIS, MN, July 9, 2020 — IDS, a leading provider of asset finance and origination technology announced today that IDScloud has marked its two-year anniversary with 21 customers, representing more than $25 billion of net asset value (NAV) contracted to the service. The IDScloud service includes full contract lifecycle management delivered through IDS’ market leading Rapport® origination and InfoLease® portfolio management solutions and the recently launched Portfolio Risk Visualizer. At a time when operating agility and timely customer engagement are critical, our 100% SaaS platform enables effective collaboration, and drives deeper understanding of business risk and performance, through cloud-based insights.
“Celebrating the 2nd anniversary of IDScloud is a major milestone for the IDS team and the customers who have trusted us to support their mission critical business needs” stated David Hamilton, IDS CEO. “For the past two years our team has been focused on building a world class SaaS solution, providing customers with industry leading functionality underpinned by a secure and globally scalable platform. We built IDScloud leveraging 40 years of leasing expertise and brought it to market with a ‘pay-for-what-you-use’ model, making it accessible to equipment and asset financing firms of all sizes.”
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The adoption of IDScloud shows significant industry momentum towards cloud computing. According to a recent survey by Flexera, 50% of enterprise workloads are expected to be running in the public cloud within 12-months, with close to 60% of firms reporting that they expect cloud spending to increase due to the pandemic. “We have seen strong interest in IDScloud over the past two years, this has further increased in the past few months as executives wrestle with moving their business operations to a remote working model. The ‘available anywhere’ nature of our SaaS solution makes it the perfect partner during times when business continuity is at the forefront of business operations” said Lisa Nowak, IDScloud Lead Product Manager.
IDScloud was launched in June 2018 with the stated purpose of providing the industry’s leading portfolio management solution to any firm managing a leasing or loan portfolio. The ‘pay-for-what-you-use’ model has provided access to companies ranging from start-ups to the largest bank, captive and independents in the industry. IDScloud supports the ability for our customers to expand globally and is currently supporting customer portfolios in North America, Australia, Europe and Asia.