Idhasoft Ltd. Alleviate Complexity around Software Licensing for CapitalSource Inc

Dec. 11, 2008 - PRLog -- CapitalSource is a commercial lending organization focused on small to medium sized businesses. The organization has approximately $13.8 billion in assets including through their CapitalSource Bank subsidiary which has over $5 billion deposits and operates 22 retail banking branches. In November of 2008 CapitalSource found itself in a unique position in the financial industry which required growth of its Oracle systems.  However funds for the project were limited due to the same economic challenges that were currently bankrupting its competitors.
CapitalSource was faced with excessive Oracle costs and a short time window in which to take advantage of the business opportunity the credit crunch presented.  The price of the Oracle solution needed to be decreased significantly within a short timeline to ensure success in this venture.
Idhasoft was engaged to help CapitalSource look at multiple licensing options based on various hardware configurations and provide unbiased advice based on our experience.  When the optimal environment was established Idhasoft negotiated pricing and terms with Oracle saving CapitalSource over $100,000 in initial licensing and support and reduced their ongoing yearly support maintenance fee by 40%.  This allowed CapitalSource to move forward with the project within the planned timeframe and on budget.
“Working with Oracle licensing can be quite complicated as there are many considerations with license type, terms, processor allocation and so forth.  Idhasoft has done a terrific job presenting our options, including cost models, to help streamline that decision making process.  Our rep is very responsive and has represented us well regarding price points with Oracle as our business has increased.”  
- John Protzman – Director of Network Operations – Capital Source Finance LLC

About CapitalSource Inc:

CapitalSource is a commercial lender offering a set of focused lending products serving clients in the middle market. CapitalSource was founded in 2000 in response to a change in the banking industry that created the opportunity for a large-scale commercial finance company. In 2008, CapitalSource formed CapitalSource Bank, through which it now conducts the bulk of its commercial lending business. As of September 30, 2008, CapitalSource had approximately $13.7 billion of commercial assets, including a healthcare net lease portfolio of approximately $1 billion. For more information, please visit www.capitalsource.com

About Idhasoft:

Idhasoft is a software products and IT services provider serving enterprise customers in the United States, Europe and Asia. Idhasoft provide services to industry segments including BFSI, Healthcare, Manufacturing, Public sector, retail and Telecommunication. With a reputation for high quality and reliability, Idhasoft, one of the fastest growing company with revenue of over $150 million provides a range of IT services, from Software Application Development and Strategic IT Consulting to Recruitment Process Outsourcing, and Implementation of Third Party Enterprise-wide products including Oracle, SAP, Cognos and TIBCO. For more information, please visit www.idhasoft.com