Compeer Financial selects Odessa for Innovative Asset Finance
October 10, 2017
Odessa, a leader in lease and loan accounting software solutions, today announced that Compeer Financial (“Compeer”) has selected Odessa to provide end-to-end automation for their asset finance portfolio. Compeer will move off its legacy system and unify its front and back-end in the Odessa Platform, creating an agile technology foundation that will support the company’s growth and evolving business needs.
The $18.5 billion organization provides loans, leases, risk management and other financial services to more than 43,000 clients across Minnesota, Wisconsin and Illinois, as one of the largest cooperatives in the Farm Credit System. With continued positive growth, Compeer was looking to unify its business systems to gain the flexibility and speed it needs to support its ongoing operations.
With Odessa, Compeer will be able to:
• Create one global system of record for its asset finance portfolios, streamlining their business operations.
• Easily configure internal processes, standardizing processes company-wide with the ability to make corresponding technology changes.
• Leverage continuous innovation from Odessa’s development on a single code base delivered regularly, reducing the periodic costly and intensive upgrades of legacy systems.
“With Odessa, Compeer will have one system of record with real-time visibility into its business, helping to reduce administrative complexity, create greater efficiencies, and enable more time spent on business goals and strategy,” said Leonard Lane, SVP Products, Odessa. “We’re excited to partner with Compeer to implement a technology foundation to help drive their business forward.”