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LeasePak Delivers Greater Value to its Partners with Microsoft Azure Cloud

NETSOL recently launched the Cloud version of the LeasePak solution hosted on Microsoft Azure. The scalable, secure and stable Azure environment enables LeasePak-CLOUD to deliver greater value to its partners, enabling them to use the technology in a highly flexible manner. This empowers them to generate more business faster, while maintaining strong relationships with customers.

NETSOL Technologies’ LeasePak is a mission critical, end-to-end portfolio management solution for the US asset finance industry. It is used by Blue Chip auto and equipment finance companies. The solution is robust, scalable and feature-rich for the rapidly growing vehicle leasing industry.

NETSOL recently launched the Cloud version of the LeasePak solution hosted on Microsoft Azure. The scalable, secure and stable Azure environment enables LeasePak-CLOUD to deliver greater value to its partners, enabling them to use the technology in a highly flexible manner. This empowers them to generate more business faster, while maintaining strong relationships with customers.

LeasePak Drives Transformation
NETSOL Technologies has presence in thirty countries and employs more than 1500 highly skilled business and thought leaders, innovators, strategists and developers.

“In fact, some luxury car manufacturers have been LeasePak customers since the past several decades. Many of those relationships have grown across continents and multiple countries,” explains Farooq Ghauri, Chief Operating Officer at NETSOL Technologies.

LeasePak is used to manage the complete customer experience, all the way from the point of sale up to contract maturity; managing the entire contract lifecycle in-between, including all front and back-office operations. LeasePak had been running in the US since the past forty years and it was time for an upgrade. About three years ago, NETSOL decided to update the software stack to a more modern architecture.

“Azure gives us complete visibility into our critical metrics, usage and costs. It takes fewer clicks to access the relevant information our various teams need. Features such as Azure PowerShell/CLI help us be proactive in managing cloud assets more effectively for better performance and avoiding potential bottlenecks.” – Kashif Ansari, Project Manager, NETSOL Technologies.

Ghauri explains, “Due to the deployment on the Cloud, it became easier to integrate our digital applications with LeasePak. We have also deployed one of our enterprise digitization solutions on the cloud, mAccount, which is part of NFS Digital. This has allowed us to leverage the solution’s benefits more efficiently and make it relevant in today’s technology ecosystem and better aligned with customer expectations.”

mAccount is a self-service mobile solution that empowers end-customers to manage their contracts and have visibility and control over their leasing plans. Customers can check their contract details, payment dates and even request for modifications directly through the solution. It also aids in facilitating a better customer experience through features such as chat and email for more effective communication. Simply put, mAccount helps LeasePak-CLOUD augment an integrated customer experience. For the finance company, mAccount provides a powerful backend system allowing them to directly engage customers, lessen the burden on call centers, improving turnaround time for repayments and reduce costs.

LeasePak was housed on-premise and ran on a licensing business model. “The trend has moved away from license-based software models where there is high CapEx and customers needed to own software to use it. Today, PaaS and SaaS models make better business sense to customers because those offerings are more flexible and dependent on OpEx.”

Solution Specs in the Cloud
NETSOL does all its development on Microsoft platforms and the choice to move from on-premise to Azure was, well, meant to be. “Azure gives us complete visibility into our critical metrics, usage and costs. It takes fewer clicks to access the relevant information our various teams need. Features such as Azure PowerShell/CLI help us be proactive in managing cloud assets more effectively for better performance and avoiding potential bottlenecks,” Kashif Ansari, Project Manager, explains. An array of monitoring tools on the dashboards help to consistently align service delivery with demand and maintaining performance benchmarks.

LeasePak was developed on VB.Net 7.0, while mAccount has a front end of HTML5, CSS3. It is responsive, available for iOS and Android and enables customers to experience an Omni-channel interaction with the leasing companies. “From the perspective of application compatibility and transparency of costs, the transition to Azure Cloud environment was very organic for us,” says Ansari. Microsoft Azure ensures that the solution stack has high availability, 0% downtime, increased security and a flexible billing cycle.

When time came to test the power of LeasePak-CLOUD on Azure, MotoLease, a technology-based, specialty finance company that exclusively serves the power sports market, stepped up. According to Ansari, “MotoLease already has a 60% adoption of mAccount within its customer base. We currently house more than 50 VMs on Microsoft Azure.”

The ROI
The cost-benefit potential of moving towards self-service features is impressive. According to a study conducted by PricewaterhouseCoopers, reducing the load and dependency on call centers can enable an organization to bring down the cost of services from $4 to 15cents. Ghauri explains, “Our dealers are now able to get their products to market faster through LeasePak-CLOUD. They can onboard new customers more swiftly and schedule future prospects, mitigating some of the limitations and challenges in the sales pipeline. We find that the overall running costs at the customer end have reduced by 90%.”

With the combination of the digital transformation of LeasePak alongside the power and scalability Microsoft Azure offers, NETSOL has added more value to its entire ecosystem. The seamless migration of a live solution as critical as LeasePak onto Azure is a big win for both NETSOL and Microsoft, a partnership that will continue to grow.

You can watch the video for this case study, here.

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