News and Press Releases

NetSol Technologies Signs Contract to Implement NFS Ascent(TM) Valued at More Than $100 Million

Agreement Calls for Implementation of Company’s Next-Generation Finance and Leasing Software Solution across 12 Markets in Asia and South Africa

CALABASAS, Calif., Dec. 21, 2015 (GLOBE NEWSWIRE) -- NetSol Technologies, Inc. (NTWK), a global business services and enterprise application solutions provider, today announced the signing of a contract currently valued at more than $100 million, which includes license, maintenance, services and expected customization, with a long-standing customer to implement NFS AscentTM.

The agreement calls for upgrading to NetSol’s NFS Ascent platform, the company’s advanced solution for the auto and equipment finance and leasing industry, from the company’s NFSTM platform in Australia, China, Hong Kong, India, Japan, New Zealand, Singapore, South Korea, Taiwan, Thailand and Malaysia. The contract also includes implementation of NFS Ascent in South Africa, a new market for NetSol.  The implementation phase spans a five-year period, with maintenance and support over ten years.

“This is a transformative agreement for NetSol, representing the largest contract in the company’s history, and a strong endorsement for NFS Ascent from a nearly two-decade-long partnership with our client,” said Najeeb Ghauri, CEO of NetSol. “The agreement also reflects their trust in NetSol and our talented technology professionals. The significant investments we made in our infrastructure and staffing are paying off and building leverage into our business.”

The implementation encompasses the full end-to-end finance and leasing lifecycle, covering NFS Ascent’s Loan Origination System (LOS), Contract Management System (CMS), Wholesale Financing System (WFS) and its Dealer/Auditor Access System (DAAS). It also includes NFS MobilityTM mAccount, which gives customers visibility into their auto financing contract. Once complete, the system will provide a single regional platform that improves business visibility and assists with strategic planning.

“With the signing of this agreement, NFS Ascent has established itself as the premium auto and asset finance platform in the market,” said Naeem Ghauri, head of global sales for NetSol. “This is a watershed event for NetSol given the expected value of the contract and geographical footprint of the implementation in 12 markets. In addition, we believe NFS Ascent is well-positioned to leverage this success to sign additional multi-market deals in the future.”

Platinum Pharmaceuticals shakes hands with EfroTech to acquire TimeTrax HCMS (Human Capital Management) Software for successfully automating the healthcare company’s HR Operations.

HR Challenges

  • Obsolete & messy attendance process/system
  • Time-consuming procedures were prevalent
  • No proper reports for managers about attendance records, absenteeism, overtime etc.
  • Chances of proxy attendance were abundant

Proposed Solution

Platinum Pharmaceuticals preferred TimeTrax: HCM Software “on-Premise” version for the computerization of their attendance procedure. The project consists of deployment of the following module and hardware:

  • eAttendance - Attendance Management System
  • TT-iFace 800- Face Recognition with Fingerprint Device

Benefits Delivered

Since its deployment, TimeTrax has tremendously minimized administrative burden of Platinum Pharmaceuticals HR department by digitalizing the attendance process & providing managers with detailed information on attendance records, absenteeism, overtime etc. through eAttendance module integrated with TT-iFace 800 - Face Recognition & Fingerprint Devices.

TimeTrax HCMS/HRMS is an intuitive and wide-ranging software that has streamlined Human Capital Management processes of workforce tracking/attendance. On the whole, TimeTrax gives end-to-end HR solutions with salient features to deal with any company’s HR management needs.

Commenting on deployment of the TimeTrax HCM Solution, Amin Malirwala (Manager Administration) says:

“We have been using TimeTrax Human Capital Management Software for some time now to facilitate the management and tracking of our employees’ attendance. We have found it to be accurate, efficient and intuitive and above all it has been well received by our 350+ employees.

TimeTrax has turned out to be the ideal HCM Solution for our HR needs as we really required something reliable and economical. TimeTrax TT-iFace 800 Multibio Devices (Face Recognition with Fingerprint & RFID features) and the eAttendance module have proven to be a worthy Investment and working great for us. The after-sales support is also highly dependable.

We would readily recommend this solution!”

Project Status

Successfully completed on time.

Proposed Solution

eAttendance Module from the TimeTrax-HCM Software's “on-Premise” version
TT- iFace 800- Face Recognition with Fingerprint Devices

Technologies Used

TT-2.0, ASP .Net Framework 3.5,
Crystal Reports & Microsoft SQL Server 2005

Team Pakistan picks up 3 Golds and 1 Silver in major regional technology awards


Colombo – November 21, 2015- The Pakistan Software Houses Association for IT & ITES (P@SHA) announced this evening that Team Pakistan won 3 Gold Awards and 1 Silver Award at the Asia Pacific ICT Awards (APICTA) 2015 ceremony held in Colombo, Sri Lanka tonight.

Leading the way with the Gold were the teams from Eyedeus Labs for their new product “Ingrain”, Evamp& Sanga for their product  Mobile Audio Streaming Service and students from the NUST College of Electrical and Mechanical Engineering for their research project Active and Intelligent Powered Ankle Foot Prosthesis for Trans-tibial Amputees.

The Silver Award was taken by a very young team from The Nest i/o – P@SHA’s Technology Incubator in Karachi for their project Teddict.

The Awards ceremony was graced by the Sri Lankan Minister for Telecom and Digital Infrastructure.  The Pakistan High Commissioner Major General (Retd) Syed Shakeel Hussain in Sri Lanka and MD Pakistan Software Export Board (PSEB), Mr. Asim Shahryar Husain, were with Team Pakistan to witness the Pakistani Tech sectors red letter moment. Because next year’s APICTA will be hosted in China, MD PSEB stated that PSEB and P@SHA should jointly put up a proposal to APICTA for hosting 2017 awards in Pakistan.

This year’s P@SHA delegation comprised 50 members with 22 technology products competing for the prestigious APICTA Awards against 197 products from 17 economies in the region. Team Pakistan delivered another stunning performance in front of the Who’s Who of the technology industry in the Asia Pacific region in categories that are extremely competitive.

Winners from the Asia Pacific compete inthis three day regional event judged by industry professionals, technology veterans and thought leaders from the APAC region. The consistent great results by Team Pakistan are due to the concerted efforts of judges and mentors who work tirelessly with winners at the P@SHA ICT Awards which took place in Lahore in October this year.

Speaking on the occasion, Jehan Ara President of P@SHA said, “The P@SHA ICT Awards ,P@SHA’s signature event for the past 12 years, has provided a platform to show the world what technology companies and young people in Pakistan are capable of. This year we have once again proven that our products can be benchmarked against the best in the region. “

International APICTA Judges from 17 economies who evaluated the categories in which Pakistan participated spoke about the consistently high standard of technology products presented by Pakistan year after year.

This year Team Pakistan performed superbly with young people once again taking the lead. With the support of Samsung and Google for Entrepreneurs, P@SHA was able to take a number of young teams to Colombo. The objective was to bring them face-to-face with the best technology companies, professionals and students in the Asia Pacific, to provide an opportunity to meet and form potential partnerships with each other and to attract business and possible investment.

Dressed in their green Team Pakistan t-shirts, the team from Pakistan created impact by putting up a great show. Some of the international judges commented that all the teams had shown the caliber of work being done by the Pakistan tech sector. They were absolutely blown away by the younger teams that took part in the Tertiary Student Category and the Secondary School Project category.

Speaking at the APICTA Awards gala event in Colombo, Dr. Shoab A. Khan, Immediate Past Chairman of P@SHA and a judge at the APICTA event said, “The standard of the competition is improving each year and we know that because it is the best products from each country that compete, we will have to share the accolades.”Other judges from Pakistan include Jawwad A. Farid, BadarKhushnood, and Sultan Hamdani.

On hearing news of Team Pakistan’s performance, current P@SHA Chairman Syed Ahmad said “Top performance at APICTA 2015 has shown that young Pakistani IT entrepreneurs are the best in the region. If the IT industry gets support and an enabling environment from the Government, it can provide millions of jobs and help the Government achieve its Pakistan Vision 2025.”

Tonight’s Gold & Silver Award winners included:



Company: Eyedeus Labs

Product: Ingrain


Category: Startup Category

Eyedeus Labs is a startup developing Computer Vision technologies for smartphones. Ingrain is their second product – it is a Platform for targeted native advertisement in videos.



Innovators: Noor Asif &Muhammad FarjadHassan
Organization: National University of Science & Technology School of EME

Product: Active and Intelligent Powered Ankle Foot Prosthesis for Trans-tibial Amputees.

Category: Tertiary Student Category
The objective of this project is build and run a prototype of an intelligent powered ankle foot prosthesis based on electromyography, capable of providing active mechanical power at terminal stance, can improve amputee metabolic walking economy compared to a passive or passive-elastic prosthesis.


Company: Evamp&Saanga

Product: Mobile Audio Streaming Service


Category: Inclusion & Community Category


This service streams the audio feed from all popular TV and Radio stations in Pakistan, allowing access to live audio from TV & Radio via a simple phone call.  The service does not require mobile broadband, and is accessed via a dial-in short code.

The application is hosted on a Linux platform.  It requires telephony cards for connecting audio calls from the mobile operator to the software application. The live feed of each channel is received by our application via standard TV-Tuner PC boxes, converted into a digital signal by our application, and only the audio stream is picked up for broadcast via our service.

The service works like a standard radio, and allows listeners to hear a live audio feed from their favorite TV as well as radio channels.  Imagine travelling on the motor way and being able to dial-in to hear Samaa’s news headlines, PTV Sport, Business Plus, or any one of over 25 TV channels or 8 Radio Stations.  The extensive multilingual audio menu allows you to easily browse between channels, just as you would on a personal audio.  The service includes content in Urdu, English, Pushto, and Sindhi.



Product: Teddict


Category: School Category


Teddict is a network, learning portal for young students that makes learning more engaging by giving the primary role to the student. Teddict allows students to learn their own way by letting them connect with each other for a diverse portfolio of concepts.

Learning will happen in a gamified environment where students are encouraged to contribute more in the learning process.

AbacusConsulting conducts 11th Annual All Industry TRS Post Survey Meeting


Karachi, Nov 11, 2015: AbacusConsulting, in collaboration with Mercer, organized the TRS-2015 post survey meeting, as the 11th annual All Industry Total Remuneration Survey (TRS) is published in Pakistan. The survey report includes 150 participating companies and data for more than 59,000 incumbents across various industries. The event was held on November 11, 2015 at the Pearl Continental Hotel, Karachi.

The event was a post survey meeting to present findings of the TRS 2015, and was attended by delegates from various client organizations. With the TRS findings, companies would be able to calibrate their own rewards not only to increase retention but to attract the best talent. Companies will also be able to get local and global benchmarks in more than 120 different markets and receive all industry or industry specific results.

Ms. Fatima Asad-Said, Executive Director Human Capital Excellence at AbacusConsulting said, “The key is to define and effectively communicate a winning EmployerValue Proposition (EVP). This impacts the development of aligned total reward programs. The survey presents a comprehensive remuneration analysis on more than 700 unique positions, which allow clients to customize their remuneration benchmarking based on a select group of companies. With the TRS findings, companies would be able to calibrate their own rewards, in order to increase retention, enhance engagement, and attract the best talent”.

Going forward, AbacusConsulting remains committed to offering winning talent solutions including workforce management, total rewards, and change management to their clients.

A2Z Creatorz Signs Multi-phase Project with Dubai Government


A2Z Creatorz is pleased to announce that it has entered into agreement with the Dubai Government during GITEX 2015.

A2Z Creatorz is all set to create a transformational web based event application for Government of Dubai. This web application will be positioned in a manner so as to deliver superior execution and customer service, driving long-term value creation for their upcoming events.

The provision of A2Z Creatorz services to the Dubai Government will leverage and build on the best practices of event services and management to improve service to customers and consumers through a more consistent strategy across the UAE.  Through this web based system the partner is expected to generate substantial event registrations, sponsorships and operating efficiencies. The government’s new synergies will also position it for increased investment in sales and customer-facing activities in events industry to drive incremental top-line and profit growth over the long term. 

A2Z Creatorz will combine the unique market knowledge and experience of the events service applications, enabling increased coordination and innovation to better serve customers and consumers at a local level in each market. As a larger and more diverse company, Dubai government will continue to invest, employ, manufacture and distribute locally, maintaining a strong commitment to the economic and social well-being of each community it serves.

“The creation of a larger, unified web application represents an important step in our global system’s evolution,” said Zohaib Khan, CEO of A2Z Creatorz. “We continue to adapt our business model to innovate, invest and grow along with the changing demands of the marketplace. With the strong leadership that is assembled from across the world will be well-positioned to deliver better and more effective service to customers throughout UAE and GCC market and drive profitable growth across multiple web, digital and mobile categories.”

“The creation of A2Z Creatorz as our partners will build on each other’s capabilities to create more efficient operations in the respective market, said Head of Department. “We look forward to bringing together our world-class team with the distinct strengths offered by A2Z to capture additional growth opportunities in the market. This transaction offers clear synergies, along with the scale to better serve the needs of our customers, to become an even stronger partner to The Dubai Government and create increased value for us and our shareowners.”