IDS announced increasing 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 market leading full lifecycle asset finance technology in a 100 percent software-as-a-service (SaaS) 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’s (SaaS) spend by Australian organizations will be approximately $1.8 billion growing to $3.3 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.”