NetSol Technologies "NetSol" (NTWK) (DIFX: NTWK), a worldwide provider of global business services and enterprise application solutions, today announced it has launched a new business process outsourcing (BPO) practice initially focusing on the global needs of customers in the areas of financial accountancy and audit practices.
The latest BPO service offering represents a new revenue driver within the Company's BestShoring(TM) business model, leveraging NetSol's core strengths in providing high quality outsourced business services as well as expertise in developing and deploying leading edge global financial software applications.
NetSol Technologies will provide to customers the software, process management and human resources to outsource critical processes in the financial accountancy BPO services sector. Customers will receive services centered on international accounting best practices by tapping into NetSol's pool of professional resources as well as realize significant cost savings through the operating leverage inherent to NetSol's global offshore centers of excellence. NetSol's BPO accountants are internationally credentialed and are members of some of the strictest accountancy bodies such as the Association of Charted Certified Accountants (ACCA). The new BPO service provides customers service offerings based on U.S. Generally Accepted Accounting Principles, U.K. Generally Accepted Accounting Principles and International Financial Reporting Standards (IFRS).
Najeeb Ghauri, chairman and CEO of NetSol Technologies stated, "We are excited to launch our new BPO services practice which opens up a new multi-billion dollar industry worldwide to us and extends NetSol's breadth of capabilities within the global financial services market, utilizing the marketing reach of our North American, European and Asia Pacific operating divisions. Services provided through the new BPO practice will be sourced from our global platform of client delivery centers under our BestShoring business model which delivers in-depth globally sourced domain experience as well as localized support to our clients.
"In addition, we have already won our first BPO contract with an Australia-based accountancy firm and have begun to establish excellent traction with prospects in the European market. The launch of our new BPO services will contribute yet another solid organic growth driver to our fiscal 2009 performance and beyond," concluded Mr. Ghauri.