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December 1, 2009

In brief

Lease technology supplier icenet has recently released a system upgrade.

By Verdict Staff

icenet upgrades efficiency

Lease technology supplier icenet has recently released a system upgrade.

The Nostrum Group subsidiary said that improvements to its software include rules-based debit/credit card processing, an automated bank reconciliation function and integration with external print and mail providers.

According to icenet’s CEO Alex Stephen, the upgraded version is already in use at some of icenet’s high-volume lenders and “has resulted in significant improvements”.

The company plans to introduce further functionality to increase lenders’ operational efficiency and provide business performance knowledge.

NetSol Technologies reduces loss from previous quarter

NetSol Technologies posted a $264,000 (€177,593) loss for the fiscal quarter that ended on September 30, 2009 – reducing by 71 percent the loss compared with the previous quarter.

NetSol’s CEO Najeeb Ghauri said: “Higher sales compared to the prior quarter, combined with significant improvements in our fiscal first quarter 2010 gross margin and operating margin, contributed to another significant reduction in GAAP net loss.”

The company reported revenues of $7.6 million, which represents an 11 percent increase compared to the prior quarter.

Co-op selects Jaama

The Co-operative Group has selected Jaama’s online fleet management system Key2 to manage over 3,000 vehicles nationwide, and plans to roll it out for the rest of its vehicles over the next 12 months.

The company currently has over 6,000 cars, vans and heavier vehicles operating in five business divisions – food, health care, travel, cash-in-transit and funeral care.

The Co-operative Group transport manager Ronnie Hutton said that the choice of Key2 derived from the need for an online system which can provide multi-user access nationally, as well as new functionality.

Independent feedback from some of Jaama’s existing fleet customers contributed to the selection of the system, Hutton said.

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