Contact Information: Contacts: Investor Relations Christopher Chu Grayling Tel: +1-646-284-9426 Email: cchu@hfgcg.com
NetSol Financial Suite Looks to Increase Market Penetration in Latin America With Leading Global Auto Manufacturer
| Source: NetSol Technologies, Inc.
EMERYVILLE, CA--(Marketwire - February 24, 2009) - NetSol Technologies, Inc. "NetSol" (NASDAQ : NTWK ) (NASDAQ DUBAI: NTWK), a U.S. corporation providing global business
services and enterprise application solutions to private and public sector
organizations worldwide, announced that the company is working with a
leading global automobile manufacturer which is expecting to implement key
components of the NetSol Financial Suite (NFS) of products based on a
deployment for an estimated 300 dealers in the Latin American market.
NetSol has completed an initial proof of concept phase and is preparing for
a second phase focused on implementation and deployment of the company's
NFS solution.
Najeeb Ghauri, NetSol Technologies, Inc. Chairman and Chief Executive
Officer, stated, "As we look forward to implementing our NetSol Financial
Suite for a Latin American dealer network of a leading global auto
manufacturer, this new opportunity reflects our ability to provide systems
and services to meet the needs of large customers operating on a global
framework. Today's announcement also reaffirms that fact that there is an
underlying need for comprehensive and efficient asset-based solutions to
allow clients to adapt to current market conditions with more
cost-efficient IT infrastructure, all while supporting the deployment of
new asset-based financial offerings and meeting their broader business
objectives."
The proposed implementation includes NetSol's Wholesale Finance System
(WFS), which is tailored and localized to meet the complete range of
wholesale financing needs as well as provide a flexible environment in
which to automate and manage purchasing and leasing activities. The WFS
system design is based on the concept of 'one asset, one loan' to
facilitate asset tracking and costing, with a flexible user-defined tax
setup that can handle current and future requirements of any jurisdiction.
WFS helps users stay ahead of the competition, managing communications
efficiently via a wide array of interfaces, including banks, dealers,
distributors, ledgers, and document handling and processing applications.
The WFS system has been designed and developed for a highly flexible
environment to accommodate multi-asset, multi-currency and multi-lingual
performance capabilities. With individual loan tracking, dealers can view
outstanding balances and current asset-wise balances of credit limit
utilization through an interface provided by a separate Web-based add-on
module, NetSol's Dealer & Auditor Access System (DAS).
The NetSol Financial Suite provides a solution that integrates with
existing platforms and practices, matching innovation and flexibility with
security and accuracy. Built from proven LeasePak and LeaseSoft components,
NFS product offerings include LeasePak components, Credit Application
Processing (CAP), Contract Management System (CMS), Wholesale Finance
System (WFS), Dealer and Auditor Access System (DAS), and Fleet Management
System (FMS). Overall, the NFS is a complete lifecycle solution, providing
support from the customer's first application to the disposition of the
last asset, with NFS handling every aspect of lease, loan, and asset
finance.
About NetSol Technologies, Inc.
NetSol Technologies, Inc. (NASDAQ : NTWK ) (NASDAQ DUBAI: NTWK) is a
worldwide provider of global business services and enterprise application
solutions. Since its inception in 1995, NetSol has used its BestShoring™
practices and highly experienced resources in analysis, development,
quality assurance, and implementation to deliver high-quality,
cost-effective solutions. Specialized by industry, these product and
services offerings include credit and finance portfolio management systems,
hospital/healthcare information management systems (HIMS), SAP consulting
and services, custom development, systems integration, and technical
services for the global Financial, Healthcare, Insurance, Energy, and
Technology markets. NetSol's commitment to quality is demonstrated by its
achievement of the ISO 9001, ISO 27001, and SEI (Software Engineering
Institute) CMMI (Capability Maturity Model) Maturity Level 5 assessments, a
distinction shared by fewer than 100 companies worldwide. NetSol
Technologies' clients include Fortune 500 manufacturers, global automakers,
financial institutions, utilities, technology providers, and government
agencies. Headquartered in Emeryville, California, NetSol Technologies has
operations and offices in Adelaide, Beijing, Bangkok, Lahore, and London.
To learn more about NetSol Technologies, Inc., visit www.netsoltech.com
To join the NetSol Technologies, Inc. email communications list, visit:
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