Yes, and it is very, very simple. Check out the wiki:
http://nxtwiki.org/wiki/Monetary_System
And your tech guys will need an API reference to play with:
http://nxtwiki.org/wiki/The_Nxt_API
Nxt-related set-up costs will consist only of the fee for new currency creation, which will vary from 40 to 25,000 NXT, depending on what length your currency code is:
25000 NXT for three-letter codes, 1000 NXT for four-letter codes and 40 NXT for five-letter codes.

If you need more info, come for a chat on www.nxtforum.org, good luck with your project.