NETSOL Technologies signs first North American customer for NFS Ascent

ghuari najeeb

Canadian-based national automotive leasing company SCI Lease Corp has become the first North American customer for NFS Ascent, the contract management system from global asset finance platform specialist NETSOL Technologies.

The cloud-based system will be provided through a ‘Software-as-a-Service’ agreement following the launch of a new, subscription-based pricing option for all NETSOL’s cloud-based products and services, which is offered as an alternative to its traditional license model.

Subscription-based pricing is offered on a monthly, quarterly or annual basis to decrease initial buy-in costs for new customers and provide an alternative to current customers seeking lower software usage and maintenance costs.

By removing upfront fees, NETSOL allows customers to spread software usage and maintenance expenses over time.

NETSOL Technologies’ co-founder, chairman and chief executive officer Najeeb Ghauri said: “This agreement with SCI is a watershed moment for NETSOL as it represents the first SaaS sale of our Ascent platform in the entire North American market. Ascent’s success over the past four years in our APAC region has served as a valuable calling card.

“With this first deal in Canada, we expect to leverage this initial foothold into expanded growth in the coming quarters, much like we have in the past.”

He added that subscription-based contracts will begin to make up a greater portion of revenues, as they provide for greater customer choice and flexibility.

Alan Bird, president and chief executive officer of SCI Lease Corp, said: “We are excited to be the first North American company to employ the NFS Ascent system.

“SCI Lease Corp has recognised the success that NETSOL has had in other markets. We are confident in their ability to deliver a state-of-the-art platform that we believe is in line with SCI Lease Corp’s commitment to bring transformative technology and services to the leasing marketplace.”