Rosenthal and Rosenthal expands product offerings with Solifi Portfolio Management for equipment finance
The largest privately held factor and finance company in the US required a solution to support its expansion into the equipment finance space.
Background
Rosenthal is a family-run business established in 1938 that has long been recognized as a leading provider of factoring, asset-based lending, and purchase order financing. With over eight decades of experience, it is the largest privately held factor and finance company in the US. It has been a Solifi working capital client for a number of years.
In 2024, Rosenthal took a pivotal step in their strategic growth by acquiring Accord Equipment Finance, which has a diverse portfolio across manufacturing, distribution & logistics, mining and forestry, food and beverage, pharmaceutical, medical and healthcare, technology and telecommunications. The aim of the business was to expand and diversify its financial offerings in response to growing demand.
Challenge
Following the acquisition, Rosenthal recognized a need for a solution to support their endeavor in equipment finance. This required a proven technology partner with in-depth expertise in the secured finance industry and portfolio management technology.
Rosenthal also needed a solution that could handle the conversion of the existing contracts from Accord Equipment Finance at a rapid pace, with the ambitious goal of going live in approximately 8 weeks. Given this target, Rosenthal required a reliable provider that could deliver a solution which had all the required functionality, while having the ability to scale up during future growth.
Solution
Thanks to the longstanding partnership, the team at Solifi were well-positioned to undertake this task. Solifi’s deep understanding of Rosenthal and its business needs made it possible to accelerate the implementation.
The solution was implemented 2 days ahead of schedule and within budget. This project is a testament to Solifi’s expert team, demonstrating its ability to deliver tailored solutions within tight time constraints.
With Solifi Portfolio Management for equipment finance, Rosenthal now has powerful functionality on Solifi Open Finance Platform that is seamlessly integrated into its operations, allowing fast and easy contract conversion.
Results
Following the implementation of Solifi Portfolio Management, Rosenthal is positioned as a comprehensive financing provider that is a one-stop-shop for many of their clients. The business can now diversify its offerings, not only to support their current clients, but expand into new markets.
Some of the functionality that Rosenthal will benefit from with Solifi’s equipment finance solution include:
- Adjustable variable rates with multiple types of floating-rate contracts including fixed payment, principal reduction, or open-ended financial agreements.
- The ability to manage and track asset usage easily, including settle-ups, swaps, annual increases, and recalculation of the last overage amount.
- Scalability and flexibility as and when needed, designed to scale with Rosenthal’s growth and adapt to changing market conditions.
- API integrations so that Rosenthal can leverage the additional functionality it needs within the platform, such as industry-standard general ledgers, credit reporting agencies, AML services, and asset registers.