Asset finance technology provider IDS has seen increased demand for its IDScloud solution with the signing and early stage implementation of new clients in the Australian market.
Launched in June 2018, IDScloud delivers the company’s full lifecycle asset finance technology in a 100% software-as-a-service model. IDScloud provides asset finance firms with comprehensive features across front, middle and back-office, supporting a full range of lease, loan and line-of-credit capabilities for specialty finance.
The success of IDScloud comes at a time when the Australian market is outpacing the rest of the world in cloud-based software adoption. In Gartner’s latest public cloud services research, the research firm forecast the SaaS spending by Australian organizations will grow to AUS$4.7 billion (over $3.27 billion) by 2021.
“With broad participation by the banking sector and a growing number of independent and captive lessors, the Australian asset finance market is the perfect fit for our IDScloud solution,” said Duncan Smith, managing director Asia Pacific, IDS. “IDScloud is designed to ensure asset finance firms of any size have flexibility to quickly respond to market needs, capture growth opportunities and effectively manage their businesses. Our first Australian IDScloud customers are signed, and the agile onboarding projects are underway.”
IDScloud is a 100% SaaS solution which offers the full capability of IDS’ Rapport origination and InfoLease portfolio management solutions along with integrations to an ecosystem of leading third-party services, including credit bureaus, e-signature, CRM, sales tax, insurance and payments. In addition to accelerating the onboarding process, the solution is highly configurable and allows customers to adapt quickly to changing sales and servicing needs in their front, middle and back office.
IDScloud provides comprehensive support for a full range of asset classes, deal sizes and deal types. Customers only pay for what they use, enabling the solution to scale in line with customer growth and as business requirements change.
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