NetSol Techologies: History and Vision

NetSol Technologies, Inc. was founded in the year 1995 by three brothers; Salim Ghauri, Najeeb Ghauri, and Naeem Ghauri, each of whom was a successful professional in his own right. Having started out with humble beginnings in the city of Lahore, NetSol soon grew to a sizable business having operations in Australia, China, Pakistan, Thailand, UK, and a headquarters in California, USA. In 1996 NetSol got its big break, when it was awarded a major offshore contract with Mercedes Benz Thailand, many more such contracts were to follow. Focusing on quality NetSol went on to attain the ISO 9001 and ISO 27001 certifications in 1998 and 2008 respectively, and in 2006 it achieved CMMI Level 5 certification, a distinction shared by fewer than 100 companies worldwide. NetSol was also the first US Company to dual list on both the NASDAQ Capital Market and the Dubai International Financial Exchange DIFX, which became NASDAQ Dubai in 2008.

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Vision Statement

“Our vision is to become a leading digital security organization in Pakistan providing support in securing the digital boundaries of Pakistan”.

Mission Statement

“Deliver high quality, innovative and best-in-class IT solutions and services to help our customers achieve their business objectives and operational efficiencies”.

CONCLUSION

This chapter was all about introduction of NetSol. In next chapter Business operations of NetSol will be explained.

BUSINESS OPERATION

Second chapter of this report is devoted to the business operations of NetSol. In this chapter first departmental structure of NetSol is discussed. I also offer SWOT analysis of NetSol. Marketing and competitive strategy is also offered in this chapter. In the end of this chapter I interpreted businesses process analysis of NetSol in which I thoroughly discussed the HR department.

It is the analysis of the strengths weaknesses opportunities and threats of NetSol Tech. While doing the SWOT analysis that what are the areas where a company is better off than other and what are the areas where it lacks.

It is growing rapidly, joint ventures, acquisitions, and contracts are giving it a fast growth rate.

Work force in Pakistan is cheap than the advanced countries of the world so they are able to explore this workforce by providing training to it.

Optical network and satellite links are available all over the world. Company can coordinate with its offices also customers.

Many of the fortune 500 are its clients who want innovation and quality which NetSol is doing. So it is not easy for its customers to switch to others.

Organizational structure of NetSol helps it flourish every department works on its own.

Since it has achieved CMMI level 5 assessments for the first time in Pakistan, this will help the company to enlarge its customers in Pakistan.

Company is financially strong so has the ability to meet the increase in demand by increasing the operations.

NetSol gives more satisfaction to its employees by giving them extra benefits and incentives. Family like environment is given to the employees, so they do not want to leave the organization.

Numerous companies of the world offer the products and services same as it is offering. It should offer unique ideas.

Customers of NetSol are few big companies; if some of them switch to others it will create problems for the company.

NetSol has greater focus on foreign contracts and foreign customers. Pakistan is a big it market which it is not exploring to the highest degree as a result other companies of the world are taking the advantage.

It world is changing rapidly day by day and there is a need to spend much on research and development which it is not doing to that extant.

Its market in the world is large in size and is expanding day by day. NetSol can capture this increasing market.

Government of Pakistan is computerizing its operations; company can take it as a big customer.

Its operations are expanded to six large it economies, it can understand the local needs and provide the products as needed.

It is known for innovation, by adopting the latest technologies and techniques, it can provide better products and services.

Since the application of WTO international trade barriers are being removed day by day, it creates the opportunity to go to those economies which were not allowing the Pakistani products.

World economy is in a big recession. Affording of the people is decreasing. As a result sales is reduced and companies are going into loses. So business has shrieked.

Due to security concerns people don’t want to come to Pakistan and as a result NetSol has to send its representative to their countries for getting the contracts. On the other hand it is sending its employees to UK for training which is costly.

Economic sanctions on Pakistani economy are imposed from time to time, it adversely affect the exports.ns

Copy rights and patent violations cost the It companies especially. It cost them billions of dollars per year.

First and foremost strategy of the company is to maintain quality and standard of the existing products and services, their development, meeting demands of the market has become a great challenge for the company. It offers more than 10 products and services.

Performance: The Company’s performance in the whole is unmatched in terms of the solutions that they provide. The performance of NetSol’s products is also excellent. Features: The enterprise solutions, e- services consulting, and software solutions have numerous features which add value to the overall product diversification. Reliability: The reliability of NetSol products is a lot. Customers trust the products and services. NetSol has a “make a promise and fulfill it” ideology. They have a perfect track record on system delivery. The customers are delivered on time, exactly what they want. Durability: The NetSol products and services come with a guarantee of being excellently worked out and worked upon. The durability promise has been fulfilled for many years now. NetSol products are known nationally and internationally to be the best.

NetSol creates customer value, by adding up exactly those features, the customer desires in the product. The products and services are made with such proficiency that they are efficient and generate value for the customer. The component of customization is obvious. This is because of the fact that the services and products provided by NetSol are such that without the customization it would not be feasible to use them in such dissimilar industries like automotive, chemical, textiles, Internet marketing, software, medical, banks, higher education and telecommunication links, and, financial services.

The NetSol customers are usually large organizations their chief concern is to get the best in the class software, services and products. The price perceptions of NetSol clients are that they are charged for what they are being provided.

Objectives

Its main objective was the following:

  • To make the company equal opportunity employer.
  • To determine HR needs both in short term and long term.
  • To attract right pool of candidates.
  • To generate new recruitment channels.
  • To create good relationship with other departments.
  • To gave best services to the employees.
  • To maintain and keep database of quality applicants.

HR Functions at NetSol

The HR department performs the following functions at NetSol, although the main heads are still the same but overall the following functions are performed by the HR department of NetSol. These include: Strategic HRM: Following are the areas of concern in this function:

  • To set HR objectives/goals
  • To formulate policies, procedures and strategies
  • To forecast/plan the Human Resource Requirements to address the goals
  • To design the skill set and knowledge base for Human Resources to accomplish the goals
  • To create career paths for Human Resources
  • To reward and retain the Human Resources

Generation & Implementation of Human Resource Policies: As a result mutual cooperation between departments a policy is formulated with consensus and implemented. Recruitment and selection: Generally recruitment is a very length process that starts from the time when a position is opened in any specific department. It can be proceed internally if the HR department gets a requisition from people already working in the company or it can be through the laborious process of CV scanning.

Stages in Recruitment Process:

Recruitment Program: NetSol is a well defined blend of seasoned as well as fresh talent all of which are inducted into the organization by either of the below listed ways,

  • Regular Career Opportunities
  • Fresh Graduates Hiring
  • Management Trainee Program
  • Internship Program
  • Training and development: Training sessions are conducted within the company during the working hours.
  • Employees are sent abroad (UK) for training/development.
  • Training workshops are conducted from time to time.

Performance Management: Performance appraisals are conducted on every 06 months basis. Mid year salary increments and promotion can be done on the basis of any previous commitment and performance during the period. Reports are formed, analysis work is done. Performance appraisal is carried out with the following objectives Employees are appraised on half yearly basis to check their current progress. Training needs of employees are identified for their career development. Need for compensation and reward is highlighted. ERM: ERM is much important part of HR functions. Employees are kept in contact so that their problems will be understood and (if possible) solved. So that they will work with consistency. Creating Job Satisfaction for employees: The employee’s satisfaction is catered in the following ways

  • Employee Job Satisfaction Surveys
  • Market Surveys
  • Salary Structure
  • Benefits/Perks
  • Working Environment
  • Growth Trends
  • Job Security
  • Demand and Supply Analysis of Resources

Competitor’s SWOT Analysis EHS (Environment, Health & Safety Management: NetSol’s businesses are environment friendly on the other hand it gives the facility of reimbursements for medical, transport, and other charges. Relationship Management: HR promotes sound relationships among all the NetSolians. The Relationship Management Program includes:

Conclusion

This chapter was about business operations of NetSol. How NetSol is competing with its competitors and what is its marketing and competitive strategy OF NetSol. In the next chapter, I will converse about my learning as a student intern.

 

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NetSol Techologies: History and vision. (2017, Jun 26). Retrieved June 29, 2022 , from
https://studydriver.com/netsol-techologies-history-and-vision/

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