NetSol Announces Successful
Deployment of End-to-End Funding System
Calabasas,
CA: NetSol Technologies, Inc. (NASDAQ:NTWK), a US-based,
multinational provider of enterprise software and services
for equipment financing, has announced that its wholly owned
Burlingame, Calif.-based subsidiary, McCue Systems, has
successfully designed and deployed a fully customized portfolio
management solution at Sydney, Australia-based Provident
Inventory Finance.
Provident Inventory Finance provides tailored funding options
through brokers, or introducers, enabling them to offer
this innovative form of cash flow finance, not offered by
traditional lenders, that does not require real estate security
or stock presales.
"We are very gratified to see our introducer network
growing rapidly," commented Provident Inventory Finance
Managing Director Matthew Nolan. "We asked McCue Systems
to provide a business origination tool that would inter-operate
seamlessly with our customer-facing website. They delivered
an effective solution that meets our needs and, most importantly,
the needs of our introducers."
Nolan added, "McCue further demonstrated its commitment
to our success by minimizing our start-up costs and aligning
our ongoing outlays with the growth of the business and
our increased usage of the system."
NetSol's McCue Systems development team, working in concert
with integration and ASP partner LeaseDimensions, developed
and deployed a web-based originations tool designed to streamline
deal acquisition and funding decisions for the organization's
introducer network throughout Australia.
"The success of the Provident Inventory Finance solution
is an excellent example of the ability of NetSol Technologies
to leverage its asset finance expertise to deliver customized
solutions globally, " stated NetSol Technologies Chairman
Najeeb Ghauri. "We look forward to supporting the continued
success of Provident Inventory Finance."
Provident Inventory Finance Limited is a member of the successful
Provident Capital Group of companies. Established in 1990
and wholly Australian owned, the Provident Capital Group
manages a portfolio of AUD$250m. Provident Inventory Finance
is a specialized lender providing short-term loans to Australian
businesses, facilitating their acquisition of inventory.
Funding is provided on flexible terms to suit clients and
for amounts up to AUD$3m. Provident Inventory Finance's
assists growing and profitable businesses that have seasonal
buying needs, an opportunity to achieve supplier discounts
or a need for additional working capital to expand. For
more information, visit www.inventoryfinance.com.au.
With over 30 years of experience in developing business
solutions for the equipment and vehicle leasing industry,
McCue Systems Inc. is the leading provider of lease/loan
portfolio management software for banks, leasing companies
and manufacturers. Its flagship product, LeasePak, simplifies
lease/loan administration and asset management by accurately
tracking leases, loans and equipment from origination through
end-of-term and disposition.
McCue Systems leads the leasing technology industry in the
development of Web-enabled and Web-based tools to deliver
superior customer service, reduce operating costs, streamline
the lease management lifecycle, and support collaboration
with origination channel and asset partners. For more information,
visit www.mccue.com.
NetSol Technologies is an end-to-end solution provider for
the lease and finance industry. Headquartered in Calabasas,
CA, NetSol Technologies, Inc. operates on a global basis
with locations in the US, Europe, East Asia and Asia Pacific.
NetSol helps its clients identify, evaluate and implement
technology solutions to meet their most critical business
challenges and maximize their bottom line. By utilizing
its worldwide resources, NetSol delivers high-quality, cost-effective
IT services ranging from consulting and application development
to systems integration and outsourcing. NetSol's commitment
to quality is demonstrated by its achievement of both ISO
9001 and SEI (Software Engineering Institute) CMM (Capability
Maturity Model) Level 4 assessment. For more information,
visit NetSol Technologies' web site at www.netsoltek.com.
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