NETSOL Technologies, Inc. (Nasdaq: NTWK), a global leader in asset finance and leasing industry solutions, has announced a landmark $16 million agreement with a major automaker to revolutionize digital car buying and leasing in the United States. The five-year contract will involve the customization, implementation, and deployment of NETSOL’s cutting-edge omnichannel digital retail platform, Otoz, alongside an ongoing SaaS subscription.

Naeem Ghauri, President of NETSOL Technologies and Founder of Otoz, expressed enthusiasm about the collaboration:

“We are thrilled to work with one of the world’s leading automakers to enhance the car sales and purchase process for their dealerships and customers. Building off the recent US-market traction with MINI Anywhere and AutoNation Mobility, this new partnership is a monumental milestone for the Otoz platform, underscoring the transformative potential of NETSOL’s competence in redefining digital retail experiences and aligning with the evolving demands of the automotive sector.”

Highlighting the aggressive growth in the US automotive OEM and dealerships segment, Ghauri added, “We anticipate further growth and development for Otoz in this fiscal year and beyond. We are uniquely positioned to capture market share with comprehensive solutions spanning from digital retail to auto finance.”

NETSOL’s Otoz platform, known for its headless, API-first architecture, promises unparalleled flexibility and seamless integration with dealerships’ essential operations, maintaining top-tier security and compliance standards.

About NETSOL Technologies

NETSOL Technologies is a global pioneer in delivering advanced solutions for the asset finance and leasing industry, serving automotive OEMs, autocaptives, and financial institutions in over 30 countries. Since 1996, NETSOL has been at the forefront of technology, leveraging AI and cloud services to meet the complex needs of the global market. Renowned for its industry expertise, customer-centric approach, and commitment to excellence, NETSOL fosters strong client partnerships, ensuring success in a dynamic landscape. With a legacy of innovation, ethical practices, and a focus on sustainability, NETSOL continues to empower businesses worldwide, solidifying its position as a trusted partner for leading firms globally.

The post NETSOL Technologies Secures $16 Million Contract to Transform Car Buying and Leasing Experience in the U.S. appeared first on Techlist.

Systems Limited becomes first Pakistani technology company to cross a market value of Rs. 100 billion. As of now, the company’s share price is Rs. 740.93 hence making a market capitalization of Rs. 102 billion.

As per the report, Despite the pandemic and economic fluctuations, it has been a great run for the Systems Group. Reflecting a 40% expansion during the year, holding company, Systems Limited was the top performer recording Rs. 7.5 billion in revenue. Systems fetched around 76% of the consolidated net revenue in 2020, which was 5% higher than CY19. The cost of revenues also surged by 28%, standing at Rs. 6.6 billion during the year under review. The revenue growth is contributed by both the company and its subsidiaries, and a significant increase in profits was driven by topline growth.

We are so excited to share that #SystemsLimited has done it again!
We are the FIRST tech company in Pakistan to cross 100 billion rupees market capitalization.

Kudos to our hardworking employees, partners, stakeholders and leadership that have made this possible! 🎉 #100billion pic.twitter.com/5iNhWurVr0

— Systems Limited (@SystemsLtd) September 1, 2021

Pakistani IT company Systems Limited’s export business in Europe, North America, and the Middle East has increased substantially over this year. There was a huge demand for digital transformation and secure data communication, especially in the retail, finance, and telecommunication sector. Regardless of the imminent economic effects in the market due to the global pandemic, Systems performed well and Asif Peer, CEO Systems Limited, is staying optimistic for the company’s future.

While elaborating on how pandemic has compelled businesses to undergo digital transformation, Asif Peer said that Systems was ahead of the curve already serving its clientele with well-poised and advanced technological solutions.

Emphasizing the way forward, Asif Peer highlighted that Pakistani IT company Systems Limited is aggressively focused on technologies around Digital, Data, and Cloud. Receiving positive traction from global and future markets as Systems made a successful entry into Europe, Asif Peer is confident in the company’s ability to sustain and maintain a high-growth trajectory.

The post This is First Pakistani IT Company to Cross Rs. 100 Billion Market Capitalization appeared first on Techlist.

Karandaaz Pakistan, Planet N Group of Companies and Lahore University of Management Sciences (LUMS) joined hands to host a workshop under title of “Challenges in the Startup Eco-system in Pakistan”.

The aim of the workshop was to being together entrepreneurs so that they can share ideas. Workshop wanted to connect entrepreneurs on the path to commercialization with industry experts. The workshop proved to be successful. As the participants came to know about common challenges faced by startups and with discussion easy solutions were suggested. The areas that were discussed are:

1) Curriculum & Awareness,

2) Company Law,

3) Role of incubators/­Accelerators and Exits & IPOs.

For the discussion of the topics groups were formed. The founder and Coach Planet of N Group, Mr. Nadeem Hussain highlighted some potential areas of improvement they can be solved by promoting entrepreneurial culture. This way it will be easy to maintain economy problems.

Mr. Ali Sarfraz the CEO of Karandaaz Pakistan said,

“Active collaboration and engagement between startups and eco-system enablers, such as incubators, accelerators and policymakers, is critical in order to develop a comprehensive understanding of the challenges faced by aspiring and existing entrepreneurs and developing creative solutions. We believe that this workshop organized by Karandaaz Pakistan in collaboration with Planet N and LUMS Center for Entrepreneurship will inspire scalable programs to empower youth in the region.”

At the end of the program a presentation titled “Seeding Innovation Landscape: A Framework for Rooting FinTechs in Pakistan” summarized all the findings of the report submitted by Karandaaz. Qasif Shahid presented it and discussed the possibilities and opportunities FinTech eco-system in Pakistan and the future of digital financial services in the country have.

The event was graced by presence of worthy guests that included people from public and private organizations also representatives from government sector were also present.

The post Karandaaz & Planet N Group hosts workshop on Startup Eco-system in Pakistan appeared first on Techlist.

Pakistan Software Export Board has recently projected Country’s Information Technology exports to boost from $2.8 Billion to $5 Billion by 2020 and to $10 Billion by 2025.

Managing Director PSEB Asim Shahryar Hussain briefed the National Assembly Standing Committee stating that IT Exports had mounted up a whopping $2.84 Billion by 2017 and would mount further to $5 Billion by 2020. The Exports through Freelancers were said to be $200 Million for the year while IT export were projected at $661 Million for the year 2017.

The Committee Member astonished, questioned the way such target was to be achieved but Official had no answers. What fascinated even more was that the projected export was far away from the trends. During the last 20 years it had just accounted $2.8 Billion and here was Pakistan Software Export Board Managing Director claiming it to double up in the next 4 years!

The Committee headed by Captain Muhammad Safdar commenced on Tuesday. The committee expressed exasperation over the IT export being less than par. The officials confirmed that Pakistan was far behind in the IT exports from the neighboring countries, excusing Pakistan’s negative Reputation as the cause of it.

Lack of capacity building, Ignorance of commercial councilors at abroad, Lack of quality Software and Standard Certification system were declared to be some other causes.

The official further declared Pakistan’s IT exports to be $2.8 billion against State Bank’s figures of $561 Million citing unregulated sector and the lack of heed paid by the companies to get registered with Pakistan Software Export Board as the reasons. The officials also said the Executive Committee of National Economic Council (ECNEC) had approved the country’s first state-of-the-art Information Technology (IT) Park in Islamabad.

The committee also directed the Ministry of Information Technology and Telecommunication to acquire performance report of the commercial counselors employed in Pakistani embassies abroad for the last two years pertaining to IT sector. The committee also decided to raise the issue with commerce minister and suggested IT training for officers before their postings abroad.

Korean Exim Bank recently agreed to finance the development of first technology Park in Pakistan in order to promote IT and telecom sector labeled at $50 Million. The Loan Agreement is predicted to be signed by the end of January 2017 and consequently the development of IT Parks would start soon. IT parks are to be developed in Lahore, Karachi and probably Faisalabad and Sialkot too.

The committee noted that Pakistan had immense IT talent and potential, but that potential had not been utilized fully on a global scale because of lack of proper infrastructure for the IT industry at present.

The committee was further informed that Axact Company was registered with the Pakistan Software Export Board; however, after the case, its membership was suspended. Officials quoted that company remittances were $24 million. On which the committee member said it meant a lot of money was parked outside the country.

According to the stats that were provided to the committee said that the growth in  PSEB- registered IT companies and call centers was 81.8%. With an increase from 681 in 2013 to 1,238 in 2016 and projected to reach 1,330 in 2017 in last three years.

What is to be noted is whether the ‘Root-Less” Plans would lead to something or would end up as unsung, unfeasible Proposals? What do you think? Leave your reply in comments section.

News Source: Brecorder.com

The post IT Exports to Raise $10 Billion by 2025: Pakistan Software Export Board appeared first on Techlist.

Plan9 just have updated their Facebook status to inform about their upcoming event with Startup Cup along the collaboration of TiE Islamabad chapter is going to be held in Gilgit Baltistan.

Gilgit Baltistan is, perhaps, the most spectacular region of Pakistan in terms of its geography and scenic beauty.

This is the first time Startup Cup is coming to Gilgit Baltistan. Plan9 is very excited to collaborate with TiE to target and grow the entrepreneurial ecosystem in the north of Pakistan.

To remind you, 5 Startups from Gilgit-Baltistan & Chitral (GBC) were selected last year in 2015 startup cup  Islamabad. This time Plan9 is collaborated with TiE Islamabad to bring StartupCup in Gilgit. And they called it “Prosperity Cup”.

TiE Islamabad, a nonprofit association dedicated to fostering entrepreneurship, hosts networking events and mentors startup founders.

StartUp Cup is a locally driven business model competition open to any idea. This innovative community-based approach is designed to increase the quality and quantity of entrepreneurs in the community.

Lets wait for the final dates and details of Prosperity Cup. Techlist will keep updating you.

The post Plan9 Partners With Startup Cup Coming First Time in Gilgit Baltistan appeared first on Techlist.

On 21 November, 2016 Pakistan National Assembly passed a bill under name of  “The Pakistan Council for Science and Technology (PCST) Bill, 2016”.

“This organization will provide a forum for coordination of science and technology with national and international agencies and identification of priority subjects with reference to their bearing on socio-economic development and national security.
Pakistan Council for Science and Technology is involved in policy making, planning, and implementation and carrying out policy studies”, The Minister for Law and Justice Zahid Hamid said when the 25 clause bill was moved to the House.

According to Zahid Hamid PCST was established through resolution and that it is mandatory for it to advise government on science and technology related issues on national level.

PCST aims to carry out strategic planning of Research and Development (R&D). R&D refers to the investigative activities a business conducts to improve existing products and procedures or to lead to the development of new products and procedures.  It aims to bring up evolution of scientific research.

This acts as a platform of senior and experiences scientists and technologists who are associated with research work since years and are quite successful.  It aims to act as a “Think Tank” to the Federal Government on policies and problems of national importance in respect of science and technology.  In short this council is to encourage consultancy services for scientists and technologists.

The Council is one having the freedom to act independently. It works under Ministry of Science and Technology Minister for Science. With total of 27 members which include Chief Scientist nominated by the Ministry of Defense, President, Federation of Chambers of Commerce and Industries and five leading scientists and technologists appointed by the Government the council works for better research work in Pakistan. The council has representations from all the provinces so equal opportunity is provided to all the provinces as per the demand of the province.

We are hoping to see new discoveries soon. This council no doubt is another step towards success in field of science and technology.

The post Pakistan National Assembly Passes Bill Of Council for Science and Technology appeared first on Techlist.

WhatsApp have connected people over years now with its new features and different way of keeping people in touch, After Messenger, Skype and Imo now WhatsApp is offering video call. It was reported by the people who installed new version of WhatsApp that WhatsApp is now with the feature of video calling. Over 1 billion users of WhatsApp will be able to utilize this video calling feature.

When in April, last year the WhatsApp was introduced voice calling the users were very happy. The users were asking about the featuring of video call since then. There had been much news about its launch but all were believed to be rumor.

It is not common in Pakistan but some users have got the updated versions. You must keep checking your app store to get updated version of WhatsApp. So that you can now enjoy video calls with you near and dears on WhatsApp too.

The post WhatsApp Unveils Video Calling For Everyone appeared first on Techlist.