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NetSol Technologies Announces Launch Of LeasePak-SaaS

Stocks in this article: NTWK

  • New product offering is the first cloud-based, end-to-end portfolio management and accounting system for asset-based finance.
  • NetSol to offer full system for a monthly service fee, making LeasePak a financially viable option for small to midsize finance companies.

CALABASAS, Calif., March 17, 2011 – (GLOBE NEWSWIRE) -- NetSol Technologies, Inc. ("NetSol" or the "Company") (Nasdaq:NTWK) (Nasdaq Dubai:NTWK), a U.S. corporation providing global business services and enterprise application solutions to private and public sector organizations worldwide, today announced the North American launch of LeasePak-SaaS, a subscription-based lease and loan accounting and portfolio management system delivered using the software-as-a-service ("SaaS") deployment model.

NetSol's LeasePak Enterprise finance management system has been used by global finance teams in banks, manufacturing captives, and independents for over 25 years. Until now, the system has been available only as licensed software. However, with the launch of LeasePak-SaaS, the broad functionality of the LeasePak system now falls within the budgets of small and midsize finance companies, relieving them of the need to invest in dedicated IT infrastructure and staff.

Designed to streamline asset-based finance operations from contract origination through end-of-term, LeasePak-SaaS is the first product to use cloud computing deployment technology to provide a full end-to-end equipment and vehicle loan or leasing portfolio management and accounting system. NetSol will offer the full system for a monthly service fee.

Commenting on the business benefits of the new offering, NetSol's Chairman and CEO, Najeeb Ghauri, stated, "LeasePak-SaaS will enable equipment and vehicle finance organizations to eliminate the overhead of software licensing, installed systems, dedicated IT resources and desktop maintenance services. Now, finance managers can provide their teams with the many benefits of cloud computing with no compromise in the scalability, functionality, or end-to-end integration of their core portfolio management solution."

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