NetSol Technologies Ltd, on Wednesday announced singing of a follow-on contract valued at more than $1.0 million with the automotive finance division of one of the largest Japanese automakers. Its Asia Pacific Division signed the contract.
The customer is licensing the LeaseSoft Retail Finance System for its operations in China. In addition to the software license, NetSol will provide software customisation, system implementation and ongoing maintenance and support services as part of the contract.
The LeaseSoft Retail Finance System was selected to replace the customer's existing retail system. Under terms of the contract, it is licensing two modular components, the Credit Application Processing System (CAPS) and the Contract Management System (CMS) of LeaseSoft, NetSol's flagship vehicle portfolio management system. The company is currently using the LeaseSoft Wholesale Finance System (WFS) in its operations in China.
Salim Ghauri, chairman and CEO, said this follow-on contract from a long-term customer demonstrates the customer's satisfaction with LeaseSoft and NetSol's superior technical support services.
"The only end-to-end solution available for captive finance companies in the Asia Pacific (APAC) region, LeaseSoft is recognised as the preferred vehicle finance accounting and portfolio management system in the region. In fact, robust sales of LeaseSoft in China have resulted in that market becoming NetSol's revenue-generating market," he added.