NetSol Technologies Wins New Mexican Contract to Implement Award Winning Financial Suite With Leading Global Auto Manufacturer
NR Finance Mexico, S.A., an Affiliate of Nissan Motor Company, to Implement Key Components of the NetSol Financial Suite (NFS)
EMERYVILLE, CA -- (MARKET WIRE) -- 08/04/09 -- 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, today announced that it has signed a contract with NR Finance Mexico, S.A. (affiliate of Nissan Motor Company) to implement key components of the NetSol Financial Suite (NFS) group of products, based on a deployment for an estimated 160 dealers in the Mexican market. The implementation builds upon a successful proof of concept stage and will include the NFS Wholesale Finance System (WFS), a robust and flexible system for Floorplan lending business.
Najeeb Ghauri, NetSol Technologies, Inc. Chairman and Chief Executive Officer, stated, "This agreement further expands NetSol's presence in the Americas. We strongly believe that the NetSol Financial Suite, with component products including WFS, is adaptable to all market conditions, making it the suitable choice for large customers operating on a global framework who are looking for a cost-efficient, scalable enterprise solution for their credit and portfolio management needs."
Based on the concept of "one asset, one loan," NetSol's WFS facilitates asset tracking and costing with features such as credit request management, loan management, stock auditing, and billing and settlement. An add-on to WFS, the web-based Dealer and Auditor Access System, provides dealers with specific, secure access to their contracts and auditors with complete and secure access to the data and statistics needed for thorough reviews. With these tools, WFS helps users stay ahead of the competition, managing communications efficiently through a wide array of interfaces, including banks, dealers, distributors, ledgers, and document handling and processing applications.
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(TM) 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, Bangkok, Beijing, Lahore, London, and San Pedro Sula.
To learn more about NetSol Technologies, Inc., visit www.netsoltech.com
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NetSol Technologies, Inc. Forward-looking Statement
This press release may contain forward looking statements relating to the development of the Company's products and services and future operation results, including statements regarding the Company that are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. The words "believe," "expect," "anticipate," "intend," variations of such words, and similar expressions, identify forward looking statements, but their absence does not mean that the statement is not forward looking. These statements are not guarantees of future performance and are subject to certain risks, uncertainties, and assumptions that are difficult to predict. Factors that could affect the Company's actual results include the progress and costs of the development of products and services and the timing of the market acceptance.
Contacts: Investor Relations Christopher Chu Grayling Tel: +1-646-284-9426 Email: christopher.chu@us.grayling.com
Released August 4, 2009