NETSOL Technologies, the London-listed software and services firm, has announced the deployment of its Transcend Retail platform at three automotive dealerships across the United States. The implementation covers the complete sales and finance lifecycle, including vehicle selection, credit applications, contract generation and digital document management.
Transcend Retail is designed to streamline the car-buying process by digitising traditionally paper-heavy steps. The platform integrates with existing dealer management systems and allows customers to complete much of the transaction remotely. NETSOL said the three dealerships are now live on the system, though it did not disclose their names or locations.
The move is part of NETSOL's broader strategy to grow its presence in the North American automotive retail sector. The company, which is headquartered in California but listed on the AIM market of the London Stock Exchange, has been investing heavily in cloud-based and mobile-first retail solutions to compete with larger rivals such as CDK Global and Reynolds and Reynolds.
For UK investors, NETSOL's progress in the US is a key indicator of the company's growth trajectory. The stock has been volatile in recent years as the business transitions from legacy licensing models to subscription-based software-as-a-service revenue. Analysts have noted that successful US deployments could help stabilise earnings and improve recurring revenue visibility.
NETSOL shares trade under the ticker NTEC on the AIM market. The company has not yet provided guidance on whether further US dealership rollouts are imminent, but the deployment suggests ongoing commercial traction in a competitive market.