NetSol (NTWK) Enters $10M Agreement for Financial Suite Implementation

NetSol Technologies, Inc. (Nasdaq: NTWK) announced that it has signed a new agreement valued at more than $10 million to implement the complete front and back office modules of the NetSol Financial Suite Platform for a major global auto captive finance Company. The customer's name was not disclosed because of non-disclosure agreements in place.

NetSol said the implementation has already begun and shall consist of several delivery phases beginning later this calendar year. The contract includes product licenses, business processes consultancy and site implementation services. Additional revenue streams include maintenance, support and product enhancements.

Recently, NetSol has actively engaged with the client in a business process mapping and re-engineering program, which has yielded significant alignment and efficiencies. The new agreement is an outcome of this process and is expected to yield a state of the art technology platform and also introduce a number of best practices within the organization. The agreement is one of the most comprehensive NetSol has signed to date and is in keeping with NetSol's growth strategy and market leading position of a product offering that aligns business and IT process change.

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