Haydock Finance Subscribes to Additional Appex Now Products – Dock and Lane
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Insights
The announcement by NETSOL Technologies about Haydock Finance's adoption of two additional products, Dock and Lane, from its Appex Now marketplace signifies an important development for both companies. From a market research perspective, this move illustrates a growing trend in the financial services industry towards digital transformation and the adoption of cloud-based solutions. The emphasis on API-first products reflects a broader industry shift towards seamless integration and user-friendly interfaces, which can offer a competitive edge in terms of operational efficiency and customer experience.
NETSOL's strategy to focus on API-first solutions may cater to the increasing demand for agility and scalability in financial operations. By providing a marketplace tailored to the credit, finance and leasing industry, NETSOL is positioning itself to capture a niche market. The success of this strategy could potentially lead to increased market share and revenue growth for NETSOL, while also enhancing customer retention and satisfaction for Haydock Finance.
The financial implications of the expanded partnership between NETSOL Technologies and Haydock Finance are multifaceted. The adoption of NETSOL's products is likely to streamline Haydock's operations, potentially leading to cost savings and improved margins due to greater operational efficiency. For NETSOL, the deal may result in increased recurring revenue streams and stronger financial stability, as the company secures its position within the UK's asset finance market.
Investors should monitor the performance metrics post-integration of these solutions, such as reduction in document generation time and improvement in order management efficiency. These metrics can serve as indicators of the tangible benefits of NETSOL's products and their impact on customer operations. Moreover, the market's response to NETSOL's API-first strategy and its ability to attract new customers in the finance sector will be critical in assessing the long-term financial impact of such strategic initiatives.
NETSOL's API-first approach is a significant technological advancement in the realm of business application solutions. APIs (Application Programming Interfaces) allow for modular, flexible integration of different software components, which is essential for creating scalable and adaptable IT ecosystems. The ability to quickly calculate, generate and share quotes on-the-go, as highlighted by the CEO of NETSOL, demonstrates the company's commitment to innovation and user-centric design.
The technological benefits of using Dock and Lane for Haydock Finance include reduced manual processing, which minimizes the risk of human error and increases the accuracy of financial documents. The speed and efficiency of these tools can lead to better resource allocation and may also improve customer satisfaction by providing faster service. The adoption of such technologies by Haydock Finance not only enhances their internal processes but also indicates a forward-thinking approach that could set a precedent for other companies in the sector to follow.
The United Kingdom-based award-winning asset finance specialist is now using three different products from NETSOL’s Appex Now marketplace
ENCINO, Calif., Jan. 03, 2024 (GLOBE NEWSWIRE) -- NETSOL Technologies, Inc. (Nasdaq: NTWK), a global business services and enterprise application solutions provider, announced that existing customer Haydock Finance, a leading asset finance specialist based in the United Kingdom, has signed up for two additional products from NETSOL’s Appex Now marketplace – Dock and Lane.
Dock is a centralized document generation tool with template-based configuration and simple syntax, allowing users to create accurate documents in just seconds. Lane offers a feature-rich, end-to-end order management system for asset leasing/loans and credit companies.
In April 2023, Haydock Finance subscribed to Flex, an API-based, instant calculation engine covering all calculation aspects ranging from the pricing for the end customer at inception, in-life financial modifications, the re-creation of the repayment plan, termination, amortizations/re-amortizations, among other calculation types. Flex was the inaugural product launched as a part of the NETSOL’s Appex Now marketplace, the first marketplace for API-first products specifically designed for the global credit, finance and leasing industry.
Najeeb Ghauri, Founder and CEO of NETSOL Technologies Inc., stated, "We are very pleased to further enhance our partnership with Haydock Finance in the UK. After integrating our cloud-based calculation engine Flex into their operations and benefiting from its efficiency, accuracy, and timely calculation results, they have chosen to subscribe to two additional products from our Appex Now marketplace, Dock and Lane."
"The quick success of our API-first products, which are changing how businesses integrate our solutions, excites me as CEO," he continued. "Our dedication to an API-first strategy has enabled our customers to onboard quickly and efficiently, greatly enhancing their experience. We've seen a rise in the number of financial institutions registering for our API-first products as a result of our emphasis on seamless integration and user-friendly interfaces, confirming our position as industry leaders in offering quick and simple solutions."
He further added, "By integrating our Appex Now products, vendors and sales teams can quickly calculate, generate, and share quotes with customers on-the-go, saving time and elevating convenience for all involved. Furthermore, once the quotes are saved, they can be easily retrieved and entered directly into the underwriting process, which streamlines processes to avoid duplication and ensure accuracy and consistency."
Mike Boyes, Head of Vendor at Haydock Finance commented, "Working with NETSOL Technologies has been an absolute pleasure so far. Their calculation engine Flex performs calculations that are
"We subscribed to Dock so that we could print quotations and generate documents on the fly," he continued. "It would provide us the freedom to set up various templates for various goods and to create quotation documents with only one click. Our document creation process will be streamlined and error-free thanks to Dock, which allows us to produce professional quotes in a matter of seconds." He went on to add, "Lane resolves the issues with the order creation and management process. Our business operations will run more smoothly with Lane's help. Quotations and applications can be saved, retrieved as needed, and printed from a desktop, tablet, or mobile device. We are really impressed with how quickly and easily NETSOL's API-first products can be signed up for and on-boarded."
About NETSOL Technologies
NETSOL Technologies, Inc. (Nasdaq: NTWK) is a worldwide provider of IT and enterprise software solutions primarily serving the global leasing and finance industry. The Company’s suite of applications is backed by 40 years of domain expertise and supported by a committed team of professionals placed in eight strategically located support and delivery centers throughout the world. NFS, LeasePak, LeaseSoft, and NFS Ascent – help companies transform their Finance and Leasing operations, providing a fully automated asset-based finance solution covering the complete leasing and finance lifecycle.
Forward-Looking Statements
This press release may contain forward-looking statements relating to the development of the Company's products and services and future operation results, including statements regarding the Company that are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. The words “expects,” “anticipates,” variations of such words, and similar expressions, identify forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, but their absence does not mean that the statement is not forward-looking. These statements are not guarantees of future performance and are subject to certain risks, uncertainties, and assumptions that are difficult to predict. Factors that could affect the Company's actual results include the progress and costs of the development of products and services and the timing of the market acceptance. The subject Companies expressly disclaim any obligation or undertaking to update or revise any forward-looking statement contained herein to reflect any change in the company's expectations with regard thereto or any change in events, conditions or circumstances upon which any statement is based.
Investor Relations Contact:
IMS Investor Relations
netsol@imsinvestorrelations.com
+1 203-972-9200
FAQ
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