Another win for NetSol Technologies in Asia

ghauri naeem

NetSol Technologies has won a $16m implementation of its NFS Ascent software in a “major multi-finance group” in Asia.

The implementation is set to fully automate all finance front- and back-office operations, while managing a portfolio of nearly two million contracts, serving more than 5,000 concurrent users. The name of the client was withheld by way of a non-disclosure agreement.

Naeem Ghauri, president of global sales for NetSol said: “This is a major win for NFS Ascent and we are extremely excited to be the solution partner for such a high volume and iconic finance business.

“NFS Ascent is designed to improve productivity, performance and responsiveness, while seamlessly integrating into a customer’s current technology framework and infrastructure.”

The implementation is scheduled to be completed within the next 18 months, with the first phase scheduled to go live in February 2015.

Ghauri stressed that license and services revenue will generate more than $10 million in revenues. In addition, the five-year cost of ownership, including maintenance and support, brings the contract value to more than $16 million.

NFS Ascent(TM) serves asset, auto captive and non-captive businesses globally. It is designed as part of a full business platform for maximum flexibility and customization, and can be used in multinational, multi-company, multi-asset, multi-lingual, multi-distributor and multi-manufacturer environments.