NetSol Technologies Inc. (NetSol), a multinational provider of enterprise software and IT services to the financial services industry, recently announced that its Asia Pacific division has signed a contract for the license of LeaseSoft, the company's flagship vehicle portfolio management system; the aggregate value of the contract is in excess of $1 million. The software was licensed by the Hong Kong vehicle finance operations of a major blue-chip European automotive manufacturer.

Under the terms of agreement, this new customer will license LeaseSoft's Retail Finance software, which is an end-to-end modular enterprise software suite comprised of a Credit Application Processing System and a Contract Management System. In addition to these modules, NetSol Technologies will provide software customization, system implementation, and ongoing maintenance and support services to this client.

"The new contract represents a significant win for NetSol as China continues to be our #1 revenue generating market,” said Najeeb Ghauri, chairman and CEO.” We are demonstrating that LeaseSoft is recognized as the preferred vehicle finance accounting and portfolio management system in the region, supporting the expansion of global auto manufacturers into China. LeaseSoft remains the only complete end-to-end solution and product of choice for captive finance companies in China and the Asia Pacific (APAC) region as a whole."

Ghauri continued, "LeaseSoft shortens the time to reach retail and wholesale markets by providing flexibility in configuring financial products and enhances organizational productivity through efficiently managing the complete lifecycle of the contract in an extremely cost-effective way.”