Reliance Commercial Finance selects LeaseWave® from Odessa Technologies, Inc.
Philadelphia, PA May 3, 2011 - Reliance Commercial Finance has selected LeaseWave®, the lease management suite provided by Odessa Technologies, Inc. ("Odessa"), to automate and administer their entire front office and back office lease management process. Reliance Commercial Finance is part of the Reliance ADA Group which is amongst the three largest private-sector conglomerates in India by market cap (USD$81 billion), the largest in India by customer base (100 million customers) and one of the largest in the world by shareholder base (12 million shareholders).
Reliance Commercial Finance offers an exhaustive suite of financial solutions including equipment leasing/loans, vehicle leasing/loans, mortgage loans, SME loans and microfinance. The company is poised for explosive growth in an already exciting leasing market in the Indian sub-continent. “We were very impressed with the comprehensiveness and flexibility of the LeaseWave® system. We were equally impressed with Odessa’s expertise and understanding of our business,” says Shashi Ravulapaty, Senior Vice President & Chief Technology Officer, Reliance Commercial Finance. The implementation of LeaseWave® at Reliance Commercial Finance is currently underway.
“Adding Reliance to our client list is a significant milestone,” says Kevin Schroeder, VP Odessa Technologies.” We have seen a marked increase in demand for state-of-the-art lease management systems in countries such as India where leasing is exploding and where companies serving these markets are offering increasingly sophisticated products and capabilities. We are especially proud for having been selected by a company that recently won the ‘Best Financial Services Company in Implementing IT Solutions’ award from NASSCOM (National Association of Software and Services Companies).”
About Reliance Commercial Finance / Reliance ADA Group
Reliance Commercial Finance is a part of the Reliance ADA Group, a conglomerate that is among India’s top 3 private sector business houses, with a market capitalization of US$ 81 billion and net assets in excess of US $29 billion. Through its products and services, the Reliance - ADA Group touches the life of 1 in 8 Indians every single day. It has a business presence that extends to over 20,000 towns and 450,000 villages in India, and 5 continents across the world. Across different companies, the group has a customer base of over 100 million, the largest in India, and a shareholder base of over 12 million, among the largest in the world. The group has businesses in many sectors such as Telecom, Capital, Power, Infrastructure, Entertainment and Health.