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LTC Supply Source Selects NetSol Technologies

By Raju Shanbhag
TMCnet Contributor

LTC Supply Source, an emerging partner in the long-term care industry's procure-to-pay arena based in Mesa, Ariz, has selected NetSol Technologies (News - Alert). The company is looking to implement the SAP purchasing platform and smartOCI Marketplace of NetSol's Vroozi division.

“By combining our SAP (News - Alert) professional services expertise in supply chain and procurement technologies with our own smartOCI e-commerce marketplace, we are able to help LTC Supply Source (News - Alert) build upon its leadership position in providing procurement services for the long-term care industry," said Shaz Khan, senior vice president NetSol Technologies, COO and co-founder of Vroozi. "We look forward to a long and mutually beneficial relationship.”

Allowing multiple facilities and corporate offices to seamlessly connect with vendors and ancillary service providers, as well as purchase goods and services for facility operations, NetSol will assist LTC Supply Source in building a fully automated portal using the SAP Supplier Relationship Management platform and the smartOCI marketplace under the agreement, which is valued at approximately $1 million and includes license and ongoing service fees, the company stated in a press release.

Recently, the company announced that Chinese regulators approved the company's application to set up its subsidiary, NetSol Technologies (Beijing) Co., as a wholly owned foreign enterprise (WOFE). NetSol is entering the second phase of strategic partnership with China-based Minsheng Financial Leasing (MSFL), a provider of aircraft leases in Asia. NetSol Technologies is planning to double its revenue from China within the next two years due to its robust pipeline.

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