Sofico has opened a new office in the Netherlands in order to better service its Dutch fleet, retail, and wholesale customers.

The global software solutions provider opened Sofico Services Netherlands in Houten, a municipality in the Netherlands, in October, according to the company. The office is headed by René Vermeij, the company’s business unit leader.

The new subsidiary replaces the unit based at the company’s head office in Ghent, Belgium that is dedicated to the Dutch market. The addition of the office is designed to keep Sofico abreast of the latest developments in the national automotive market more easily, according to the company.

Sofico’s current portfolio of six Dutch customers manages a total of around 140,000 leasing contracts and 145,000 retail finance contracts. These include Volkswagen Pon Financial Services NL (VWPFS), Sofico’s first retail customer in the Netherlands.

VWPFS will shortly be joined by BMW Financial Services which has just begun its initial implementation of Miles, Sofico’s hybrid contract management system for its customers.

“There was a clear need to open a new local office focused solely on the Dutch automotive market which has huge potential for us, especially on the retail side,” said Vermeij.

Vermeij said the Dutch automotive market offered Sofico opportunities in the retail finance sector and within personal leasing. Personal leasing has grown by around 37% in the first half of 2016, and currently stands at about 50,000 contracts. Estimates suggest that this will pass the 100,000 contract mark by the end of this year.

“We are currently talking to a number of customers who are interested in Miles and who want to provide a customer service across all channels to market, including fleet, retail, mobility and personal leasing,” said Vermeij.

In line with the needs of a rapidly evolving European automotive market, the scope of the Miles system has broadened from a solely leasing and fleet management focus to include retail, mobility management, and personal leasing.

“We believe the opening of a new office in the Netherlands is a natural progression for our business and we see considerable growth for Miles in the Dutch market, especially in the retail and personal leasing channels,” said Gémar Hompes, Sofico managing director.