NetSol Technologies announces expansion of partnership with CGI in Europe » 08:3310/2610/26/21
NETSOL Technologies (NTWK) announced an expansion of its strategic partnership with leading IT and business consulting services firm CGI (GIB) in Europe. The agreement builds on the close collaboration between the two global IT service providers in the United Kingdom and the United States. The two companies have teamed up to offer NETSOL's premier, next-generation NFS Ascent(R) platform to the global finance and leasing industry, supported by CGI's local business consulting, IT integration, and managed service solutions. As part of its expanded relationship with NETSOL, CGI will integrate NFS Ascent within its clients' complex IT and operating environments and ensure the solution is configured to meet local market practices and finance, risk and regulatory compliance policies. "Partnering with a global IT service provider like CGI enables us to provide our customers with leading industry and application-specific IT solutions," said Najeeb Ghauri, Founder, Chairman and Chief Executive Officer of NETSOL Technologies. "This important and expanded partnership will be most impactful to our joint customers in the commercial, finance and leasing sectors. With CGI's expertise, we expect to accelerate and maximize the value proposition from IT investments and deliver the results our customers need to streamline and grow their businesses."
|Over a month ago|
NetSol Technologies partners with Motorcycle Group for for cloud-based NFS » 08:2508/1708/17/21
NETSOL Technologies has…
NETSOL Technologies has signed an agreement with Motorcycle Group to deploy the cloud-based version of its flagship NFS Ascent platform across the customer's entire operations. This agreement marks the first official sale for NFS Ascent in the U.S. market. Motorcycle Group, consisting of MotoLease and MotoLoan, presents lease and loan offers simultaneously to qualified applicants so that motorcycle and powersports dealers can maximize their sales and enable consumers to pre-qualify and select their vehicle through Motorcycle Group's advisors.
Otoz updates on recently launched retail platform, pilot for MINI USA dealers » 08:3408/0908/09/21
Otoz, a subsidiary of…
Otoz, a subsidiary of NETSOL Technologies, provided an update on its recently launched and expanding pilot program for MINI USA dealers. The U.S. digital retail platform is designed to enable an end-to-end, online, car shopping experience for end consumers and create a new, automated sales channel for dealerships and lenders. In recent months, the automotive industry has witnessed a significant push towards digital transformation in the retail space. Marked by various announcements of newly formed partnerships, major acquisitions, and e-commerce pilots, stakeholders are racing to meet the consumer's evolving expectation for online shopping options, including for traditionally in-person big-ticket items. While many digital retail tools in the market are still considered lead generators, facilitating only some of the purchase process online, Otoz has digitized the purchasing journey from vehicle search to payments, including the entire credit and contracting process. "We appreciate MINI's belief in our product and team and are looking forward to the expansion of our original partnership," said Naeem Ghauri, Otoz CEO and President of NETSOL Technologies. "The entry of our platform into the U.S. market has been promising. By putting the consumer at the core and creating new sales channels for dealers, we are providing a solution that benefits all parts of the asset finance ecosystem. We have already begun to see encouraging pickup of vehicle sales conducted through the platform, which is further validation that automotive brands need digital strategies and capable tech partners to execute. While we are focused on enrolling more dealers and scaling to more states, we are also continuing to add new features that are critical to increasing dealer and consumer adoption."
|Over a quarter ago|
NetSol Technologies joins Consumer Bankers Association » 08:2007/2107/21/21
NETSOL Technologies announced that it has become an associate member of the Consumer Bankers Association. CBA is the only member-driven trade association focused exclusively on retail banking, representing the nation's largest financial institutions and the top providers of goods and services to banks.
NetSol Technologies to join Russell Microcap Index » 08:0606/1006/10/21
NETSOL Technologies is…
NETSOL Technologies is set to join the Russell Microcap Index at the conclusion of the 2021 Russell indexes annual reconstitution, effective after the U.S. market opens on June 28, according to a preliminary list of additions posted on June 4.
NetSol Technologies reports Q3 EPS (5c) vs. 9c last year » 08:2905/1305/13/21
Reports Q3 revenue $13.8M…
Reports Q3 revenue $13.8M vs. $13.5M last year. "In the fiscal third quarter we continued to make incremental progress across our business as the global economy and broader leasing and financing industry slowly, but surely, begins to re-open," said NETSOL Co-Founder, Chairman and Chief Executive Officer Najeeb Ghauri. "Financially, we were encouraged by the steady performance within our subscription and support segment leading to healthy operating income growth; over time, we expect to build a larger, high-margin, recurring based to drive sustainable profitability. During the period, we generated most of our new revenues from implementations and contract renewals within our APAC region, but we have also seen a significant increase in our pipeline of opportunities within the North American and European markets, which have collectively passed our APAC pipeline for the first time in our history. Going forward, our record cash position of $30 million gives us ample resources to fund rebooted global sales and marketing activities. Longer term, the pandemic has made it clear that all businesses need to have a sound digital strategy, and we're confident that we'll benefit from this transition as customers continue to transform processes and future-proof their businesses."
NetSol Technologies signs multi-million-dollar renewal with Japanese customer » 08:2604/2704/27/21
NETSOL Technologies announced that it has secured a multi-million-dollar renewal of its current agreement with an existing tier-one Japanese automotive customer in Thailand. Under the terms of the contract, this customer will continue to license certain key components of NETSOL's NFS Retail platform, including its NFS Credit Application Processing System and NFS Contract Management System. "This customer has been a market leader in the financing and leasing of commercial vehicles and pickup trucks in Thailand for some time, and we're looking forward to building our already-strong working relationship for years to come," said NETSOL President and Otoz CEO Naeem Ghauri. "Over the past few years, we've been able to provide clear value and quality for their operations, utilizing both the CAP and CMS components of our NFS Retail platform. On a broader level, this renewal further solidifies our standing in Thailand and across Asia-Pacific as the preferred business partner for auto captives and finance and leasing companies in the region."
Otoz announces expected launch data of U.S. digital retail platform » 08:1404/0104/01/21
NETSOL Technologies announced an expansion of its product offering to include digital retailing solutions for car dealerships. Powered by NETSOL's subsidiary Otoz, the new platform enables automotive companies to provide consumers with a complete, end-to-end digital shopping experience. When the Otoz platform is launched, both customers and dealers will have access to personalized portals via state-of-the-art apps, enabling a true end-to-end experience. To further facilitate seamless customer and dealer engagement, Otoz is integrating with a host of complementary partners, including: inventory management systems, trade-in valuation companies, CRMs and finance companies. Otoz will be launching the platform with its first client, a tier one OEM through its finance arm, in the calendar second quarter. Beginning in California, the solution is intended to be rolled out by over 100 dealerships across all 50 states.
NetSol Technologies reports Q2 EPS (2c) vs. 5c last year » 08:3802/1602/16/21
Reports Q2 revenue $13.1M…
Reports Q2 revenue $13.1M vs. $15.7M last year. "Fiscal Q2 yielded incrementally improved results for our global business as we saw the early stages of return to work thanks to the initial rollout of COVID-19 vaccine treatments at the end of 2020," said NETSOL Co-Founder, Chairman and Chief Executive Officer Najeeb Ghauri. "We have continued to lean into our technology strengths and are still operating remotely for the most part without missing a step. During the period we expanded our SaaS-based footprint through a multi-million-dollar upgrade as well as several large-scale implementations, driving our recurring revenue base close to $6 million for the quarter, nearly $11 million year to date. We also recorded nearly $1.5 million in change requests from current customers, another encouraging data point for the improving health of the industries we serve and the economy as a whole. Operationally, our recent appointment of Naeem Ghauri to President of NTI should allow us to accelerate progress within our core initiatives, namely driving more consistent topline growth through an increased focused on high-margin, SaaS opportunities which should also lead to sustained profitability. While the broader market cautiously begins to pick up in waves, we are continuing to execute against our near-term pipeline and current implementation schedule. We are being conservative in our cost structures, managing the business as owners, and will opportunistically look to deploy additional resources to high-value areas such as our Otoz Innovation Lab. We remain optimistic for the remainder of the year and even more bullish on the years ahead."
NetSol Technologies appoints Naeem Ghauri as president » 08:0612/1512/15/20
NETSOL Technologies has…
NETSOL Technologies has appointed Co-Founder, President of Global Sales and CEO of Otoz Naeem Ghauri, to serve as President of NETSOL Technologies, effective immediately. This newly created role will oversee company operations both domestically and internationally with reporting duties directly to the Chairman and CEO. As President of NTI, Ghauri will be responsible for P&L for all subsidiaries as well as developing a cohesive strategy to market the Company's core business and new, innovative solutions. In addition to his new responsibilities, Ghauri will also continue to serve as Otoz CEO, NETSOL's new mobility startup subsidiary, which he co-founded in 2019. As a result of a significant increase in team size and decentralized operating capabilities, Otoz expects to continue its rapid growth trajectory without impact.