IDS, a provider of asset and equipment finance technology, enabled 20 customer go-lives and crossed the $36 billion mark of committed NAV on the IDScloud platform.
“2020 was a challenging year for everyone with the disruption of business-as-usual, but it also has forced a number of business changes, including the adoption of cloud technology, which is helping forward-looking firms succeed through these challenging times,” David Hamilton, CEO of IDS, said. “IDS is committed to helping our customers succeed and [has] invested in building the products to support their growth. The significant achievements of the team in 2020 provided strong market-based validation that our technology products are aligned with the market’s needs.”
With customers shifting to remote work, the IDS team switched to remote onboarding and implementation, including data migration utilizing the IDScloud, a 100% software-as-a-service solution.
“I could not be more pleased with the results from this year and the ability of the IDS team to lean into the task of delivering 20 go-lives remotely,” Katie Emmel, chief operating officer of IDS, said. “Many equipment finance organizations were faced with the challenge of continuing to hit their targets with their team working remote. IDS was able to meet the demand of the market with an established cloud-based solution. It is this flexibility and customer centric focus that continues to drive IDS to provide market leading technology.”
In 2020, IDScloud completed an audit conducted by an independent third party, which resulted in IDS earning System and Organization Control (SOC) 2 type II and SOC 3 security certifications. These certifications recognize that IDS has met comprehensive trust service principles established by the American Institute of Certified Public Accountants related to security, availability, confidentiality and process integrity for its IDScloud origination and equipment finance portfolio management platform. IDS has made the full report for the SOC certifications available to the public.
Last year, the IDS team delivered new solutions and tools to support cloud-based and on-premise customers service through the pandemic. These offerings included:
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