IDS’ software-as-a-service (SaaS) platform, IDScloud, marked its two-year anniversary recently 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’ Rapport origination and InfoLease portfolio management solutions and the recently launched Portfolio Risk Visualizer. The 100% SaaS platform aims to enable effective collaboration and a deeper understanding of business risk and performance through cloud-based insights.

“Celebrating the second 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,” David Hamilton, CEO of IDS, said. “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.”

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 COVID-19 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,” Lisa Nowak, IDScloud lead product manager, said.

IDScloud launched in June 2018 and is currently supporting customer portfolios in North America, Australia, Europe and Asia.

IDS is a provider of asset finance and origination technology.