SoliFi formerly IDS Strengths, Domain Expertise, and Key Differentiators
SoliFi offers equipment finance software that oversees the entire lifecycle of equipment leases and loans, from origination to asset management. InfoLease facilitates the seamless exchange of data with the company's ERP system and in-house origination system. This integration with InfoLease is pivotal in realizing the company's objective of attaining real-time information and streamlining manual processes.
In September 2018, SoliFi introduced InfoLease 10.5, heralding the next phase of Portfolio Management Excellence. This version seamlessly blends extensive functionality with a flexible and extensibility-oriented architecture, allowing financial services firms to efficiently configure and integrate the InfoLease solution within their ecosystems.
SoliFi formerly IDS Recent Developments
During July 2021, SoliFi promoted the compatibility of 12th Tech's latest cloud-based Real-Time Intelligent (RTI) Auditing System with SoliFi CALMS Compass wholesale/floorplan finance software. This integration empowers clients to effortlessly incorporate audit results and data into their dealer management activities within the CALMS platform.
In the first quarter of 2021, IDScloud successfully concluded innovations and security validations. Key achievements during this period include the launch of IDScloud | DataStream, with initial customers now live, receiving nearly real-time data securely streamed for ongoing utilization in reporting, analytics, and upstream integrations. Additionally, the Developer Portal's first version is now live, allowing technical users to effortlessly harness IDScloud's integration capabilities, including tools and sample apps, for build and test purposes. The IDScloud | Pricing Microservice, a comprehensive pricing solution accommodating simple to multi-variable complex pricing structures, has been developed to seamlessly integrate into any origination system. Moreover, IDScloud achieved SOC 1® Type 2, SOC 2® Type 2, and SOC 3® validation following a rigorous six-month audit period.
In 2020, a novel IDScloud service was introduced by International Decision Systems, enabling U.S.-based equipment finance companies to observe the correlation between portfolio risk, COVID-19 infection rates, and the geographic location of financed assets. Through this visual mapping, companies gain a real-time perspective on areas of heightened risk, enabling them to evaluate current portfolio risks, foresee potential impacts, and enhance strategic customer outreach. The newly launched IDScloud application is accessible to equipment financing firms with portfolios situated in the United States.
In 2019, International Decision Systems underwent a rebranding, adopting the name IDC. Before this, in 2018, the company introduced IDScloud, a scalable, proven, and innovative platform designed to facilitate business growth for banks, captives, and independent finance companies worldwide, irrespective of size. IDScloud stands as the most comprehensive origination and portfolio management solution within the asset and equipment finance industry. The platform comprises a highly configurable and functionally rich base service, complemented by an extensive array of optional features and advanced packages. These encompass integration with top-tier solutions for eSignature, CRM, credit decisions, and ERP.
SoliFi formerly IDS Mergers and Acquisitions (M&A) Activities
In October 2021, following the acquisition of White Clarke Group, IDS transformed into Solifi—a multi-asset, cloud-based finance technology company providing businesses worldwide with solutions encompassing equipment finance, working capital, automotive finance, and floorplan finance.
In February 2021, SoliFi successfully finalized the acquisition of William Stucky and Associates (WSA), a premier provider of ABL and factoring software. This union between the two entities establishes a robust, cloud-based technology platform that delivers top-tier secured finance solutions to customers and financial institutions on a global scale.
SoliFi formerly IDS Customers in ARTW Customer Database
Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying SoliFi formerly IDS applications and why? And we provide the answers – supported by decades of research – to our clients around the world. Our Customer database has over 100 data fields that detail company usage of SoliFi formerly IDS and other enterprise apps by function, customer size, industry, location, implementation status, partner involvement, Line of Business Key Stakeholders and IT decision makers contact details. List of Verified InfoLease customers.
SoliFi formerly IDS Overview
TractorWorks Building 800 Washington Avenue North, Suite 901
Minneapolis, MN, 55401, United States
1 612-851-3200
https://www.solifi.com/
Ownership: - Schroder Ventures U.S.
Number of Employees: 350
Functional Markets: Analytics and BI, CRM, ERP Financial, ERP Services and Operations, TRM,
Key Verticals: Aerospace and Defense, Automotive, Banking and Financial Services, Manufacturing, Professional Services,
SoliFi formerly IDS Key Enterprise and Cloud Applications
InfoLease
SoliFi formerly IDS Revenues, $M:
| Type/Year | 2022 | 2023 | YoY Growth, % |
|---|---|---|---|
| Total Revenues, $M | Subscribe | Subscribe | Subscribe |
| Enterprise Applications Revenues, $M | Subscribe | Subscribe | Subscribe |
| Cloud Applications Revenues, $M | Subscribe | Subscribe | Subscribe |
* Enterprise Applications Revenues = License + Support & Maintenance + SaaS
** All revenue figures are estimates based on public records, Cloud and Non-Cloud business models in Apps Run The World's vendor database, and annual survey results including vendor feedback.
SoliFi formerly IDS Revenue Breakdown By Type, $M:
SoliFi formerly IDS Enterprise Applications Revenues By Functional Markets, $M:
SoliFi formerly IDS Enterprise Applications Revenues By Verticals, $M:
SoliFi formerly IDS Revenues By Region, $M
| Region | % of Total Revenues | 2023 Total Revenues, $M | 2023 Enterprise Applications Revenues, $M | 2023 Cloud Applications Revenues, $M |
|---|---|---|---|---|
| Americas | Subscribe | Subscribe | Subscribe | Subscribe |
| EMEA | Subscribe | Subscribe | Subscribe | Subscribe |
| APAC | Subscribe | Subscribe | Subscribe | Subscribe |
| Total | Subscribe | Subscribe | Subscribe | Subscribe |
SoliFi formerly IDS Direct vs Indirect sales
| Region | Direct Sales | Indirect Sales | Total |
|---|---|---|---|
| Type % | Subscribe | Subscribe | Subscribe |
| Revenues, $M | Subscribe | Subscribe | Subscribe |
SoliFi formerly IDS Customers - Breakdown by Geo, Size, Vertical and Product
List of Verified SoliFi formerly IDS Customers
No. of SoliFi formerly IDS Customers: 320
No. of SoliFi formerly IDS Enterprise Applications Customers: 320
No. of SoliFi formerly IDS Cloud Customers: x
No. of SoliFi formerly IDS Cloud Subscribers: x
In October 2021, Stonebriar Commercial Finance (Stonebriar) reaffirmed its association with Solifi, relying on the latter's software-as-a-service (SaaS) technology platform to facilitate back-office portfolio management and support growth objectives. As the largest private independent equipment financing firm in the U.S., Stonebriar has been a client of Solifi since its establishment in 2015 and dating back to 2004 with the management's previous company. Stonebriar transitioned its portfolio management system to Solifi's SaaS solution in March 2020.
At the onset of 2020, SoliFi secured three new customers, collectively possessing a net asset value surpassing $4 billion. The clientele included two lessors based in the United States and one located in Mexico City. Additionally, the IDScloud portfolio management solution gained traction as SilverChef, an Australian pioneer in hospitality equipment financing, opted for its services. In November 2018, North Star Leasing Company (NSL) made the strategic choice of utilizing IDScloud to bolster its expanding equipment leasing operations.
SoliFi has a strong global presence, serving over 300 customers in 34 countries. They collaborate with leading industry providers to enhance integration capabilities worldwide. Thinksmart Limited chose InfoLease 10 for future growth, aligning with National Bank, an existing SoliFi customer that upgraded to InfoLease 10. In October 2017, SoliFi witnessed significant customer momentum, with new additions like IBERIABANK's Corporate Asset Finance Subsidiary and four other go-lives in the same month.
Among their clientele are Xeox, Sany, TCF Bank, Paccar, John Deere, Imagine Net Consulting, Hitachi, Sharp, Allegiance Finance Group, Olympus, and various other entities.
SoliFi formerly IDS Market Opportunities, M&A and Geo Expansions
In July 2021, a strategic partnership agreement was formalized between SoliFi and Tamarack Technologies, a prominent provider of digital transformation services and solutions for equipment finance. This collaboration aims to leverage the growing demand for IDScloud and expedite the transition of equipment finance firms towards the preeminent end-to-end SaaS solution for their industry.
Ivory Consulting Corporation and IDS have established integration partnerships for their prominent equipment financing solutions, SuperTRUMP and Rapport. This collaboration brings together sophisticated after-tax modeling and pricing capabilities with equipment lease and loan origination functionalities. Globally, equipment finance companies leverage SuperTRUMP for modeling and pricing intricate after-tax transactions, while relying on Rapport for managing originations, analytics, and front-office decision-making processes.
The seamless integration of the two products enables users to model and price a deal using either SuperTRUMP Desktop or SuperTRUMP Server, with the output automatically transmitted to the Rapport origination platform. This eliminates the manual re-keying of SuperTRUMP deal data into Rapport, streamlining the process. The integration proves particularly valuable in situations where customers request mid-term contract modifications that involve repricing, emphasizing the importance of speed and accuracy in such scenarios.
SoliFi formerly IDS Risks and Challenges
In June 2021, Brendan Gleeson assumed the role of Chief Strategy Officer at Solifi. In this newly established executive position, Gleeson is set to strategically drive the company's innovation focus. His responsibilities include identifying industry and technology trends and translating them into strategic insights to enhance value across the comprehensive solution portfolio.
In May 2021, Bill Noel was named Chief Product Officer at Solifi, taking on this newly established executive role. Noel is set to strategically lead and integrate the company's extensive array of market-leading product offerings, aiming to provide unparalleled value to the global secured finance market.
Despite Solifi's extensive experience in the enterprise application business, the company still has a significant journey ahead to be considered among the major players in the industry.
SoliFi formerly IDS Ecosystem, Partners, Resellers and SI
In February 2023, Solifi announced a strategic partnership with One Auto API, enhancing Solifi's DataDirectâ„¢ services in the U.K. through a pay-per-use platform. This collaboration extends immediate and simplified access to comprehensive vehicle data from various sources within a single API for small and large retail, fleet, dealer, and insurance clients. The partnership with One Auto API further enriches the advantages offered to dealers, leasing brokers, service, and maintenance providers by allowing customers to selectively pay for the specific data elements they require. This enables clients to leverage real-time data for creating more precise quotations, streamlining dealer-management processes, and making well-informed decisions in vehicle management.
In January 2023, Solifi unveiled its recent technology collaboration with Codat, aimed at enhancing the capabilities of asset-based lending (ABL) firms in making informed, expeditious, and actionable credit decisions. Through integration with Codat's prebuilt APIs, ABL lenders can effortlessly access real-time data on accounts receivable, accounts payable, inventory, and P&L activity directly from the borrower's online accounting package. This seamless reporting mechanism ensures that lenders have access to the most up-to-date, accurate, and secure information regarding collateral value, covenant compliance, and the overall financial strength of the borrower.
The headquarters of IDS is located in the USA, and the company also maintains additional offices in Australia, the United Kingdom, Singapore, Austria, China, Canada, Germany, and India. At IDS, partnerships are seamlessly integrated as a natural extension of their open and flexible product offerings.
SoliFi formerly IDS Cloud Infrastructure Insights
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- SoliFi formerly IDS Public Cloud and Infrastructure (IaaS)
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Research Methodology
Data used in research reports are derived from publicly available documents, continuous surveys of applications vendors, customers, resellers, Independent Software Vendors, systems integrators and other verifiable sources.
Vendor shares and market forecast results are based on a combination of existing databases as well as demand side and supply side research conducted throughout the year with validation from vendors, customers, channel partners and documentations such as earnings releases and 10Q and 10K filings, vertical industry studies, regional and country-level statistics from public and private institutions(i.e. colleges, universities, government agencies and trade associations).
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