IDS adds leading asset-based lending (ABL) and factoring software to its technology portfolio enabling customers to serve a broader range of working capital and equipment financing needs from a single platform
MINNEAPOLIS and SAN FRANCISCO—IDS, a leading provider of asset and equipment finance technology has completed the acquisition of William Stucky and Associates (WSA), the leading provider of ABL and factoring software. The combination of the two companies creates a powerful, cloud-based technology platform providing industry-leading secured finance solutions to our customers and financial firms globally.
"IDS is committed to delivering value to our customers through world-class products that support their evolving business needs," stated David Hamilton, CEO, at IDS. "We have acquired WSA to broaden our IDScloud offering with best-in-class ABL and factoring solutions. Expanding our solution portfolio will help our customers deliver a more holistic set of working capital and equipment financing solutions to their customers."
As global markets recover and companies begin to invest in growth and expansion initiatives, they will look to their financial services partners to provide a range of working capital solutions that best fit their credit needs and business strategies. The combination of IDS and WSA will provide IDScloud customers the ability to offer a range of secure, cloud-based financial products to their customers. The expanded IDScloud solution portfolio will encompass:
- Deal Management (origination, pricing)
- Asset and Equipment Finance (lease and loan)
- Vendor financing
- Asset Based Lending (loan management, credit monitoring, borrower portal)
- Receivables financing
- Factoring (recourse and non-recourse)
- Purchase-order financing
"WSA's focus has been on consistently helping customers grow through the use of technology solutions that make their business life easier and more secure," stated William Stucky, WSA's founder and CEO. "IDS' complementary portfolio and strong technology focus make it a perfect home for the Stucky ABL and factoring solutions. Together, through the combination of software and services, customers will continue to receive the industry leading support and technology required to grow in the evolving market landscape."
IDS has invested significantly in building a powerful software-as-a-service (SaaS) platform to serve the equipment finance industry's needs. Following the acquisition of WSA and by leveraging the capabilities of IDScloud, IDS is now able to provide customers SaaS based ABL and factoring solutions in the easy to use, scalable, pay only for what you use IDScloud platform.
William Stucky and Associates is the recognized leader in the U.S. ABL and factoring market with over 120 customers. The company also has a global presence with customers in the UK and South Africa.
For more details on the acquisition or to contact the company, please visit www.idsgrp.com/stucky-acquisition/.
IDS offers a suite of secured finance technologies to help banks, specialty finance firms and captive finance organizations optimize operational efficiency and drive growth. Organizations of all sizes rely on our technologies and consultative services to optimize their asset finance, asset-based lending and factoring operations. Our software solutions are built on IDScloud, a true software-as-a-service (SaaS) platform that offers best-in-class simplicity, scalability and affordability. IDS serves a global customer base from offices in the United States, the United Kingdom and Australia.
The company's headquarters are located in Minneapolis, Minnesota, USA. For more information visit idsgrp.com.
Read the release on the IDS website here.