“Innovation is at the center of Newgen’s Corporate Strategy”

Diwakar Nigam, Managing Director and CEO, Newgen Software Technologies Ltd, global provider of BPM, ECM, CCM, DMS, Workflow and Process Automation software products and solutions talks about product offerings across various verticals and expansion plans.

What is the product portfolio of Newgen Software?

Newgen has a comprehensive product portfolio that addresses the evolving business requirements of enterprises across industry verticals. Our products help enterprises automate end to end process life-cycles, efficiently manage document intensive transactions, and create and deliver on-demand effective communications to necessary stakeholders across the board. Our product portfolio includes: OmniFlow Intelligent Business Process Management Suite (IBPMs), OmniDocs Enterprise Content Management Suite (ECM), OmniOutput Management Suite (Customer Communication Management Suite) and OmniScan (Enterprise Scanning Software). Our Case Management platform has been rated as ‘Excellent’ by world’s leading IT research and analyst firm Gartner. Newgen is in the process of developing a remarkable Enterprise Mobility Platform which will allow enterprises to roll out processes and services on mobile devices. Our mobility platform will be an important game changer in the space of Digital Transformation. We have also been one of the early adopters of Cloud based delivery models. Newgen has teamed up with Amazon Web Services for its Cloud based solution offerings. Our technologies are fit for being used as Platform as a Service (PaaS) as well as Software as a Service (SaaS) through Cloud deployments, enabling small and mid-sized businesses leverages our platforms with minimal IT investments.

What is the solution portfolio of Newgen Software?

Newgen offers a broad, cross-industry portfolio of solutions to meet specific industry or functional requirements. Our vertical solutions, built on our proven business process management (BPM) and enterprise content management (ECM) platforms include: Newgen Solutions for Banking & Finance, Newgen Solutions for Insurance, Newgen Solutions for Healthcare Payers, Enterprise Content Management (ECM) and Business Process Management (BPM) and Newgen Solutions for Public Sector.

What are the key verticals Newgen Software caters?

Newgen’s solution suite is being used by organizations spanned across more than 30 industry verticals. We are predominantly focused on Banking, Financial Services, Insurance, BPO/SSC, Government, Manufacturing, Healthcare, Education, Oil & Gas, Legal and Telecom. The BFSI segment continues to be one of most important verticals. Apart from providing them the core ECM and BPM infrastructure of imaging, capture, document management (DM), records management (RM), workflow etc, we offer composite content applications like customer on boarding, loan origination and servicing, claims processing, CRM for Customer Contact Centers and CCM. We also have got more than 30 soft templates for different processes in BFSI segment. More than 100 banks and insurance companies across the globe use our solution, including some top banks. Recently we have also received increased traction in the Government vertical, driven by the need to ensure transparency and fairness in government functioning.

What is a client base of Newgen Software in India and abroad?

With a customer base in over 58 countries, Newgen has helped businesses across different verticals achieve results and drive profits. The company is credited with 1100+ installations including many large, mission-critical deployments at the world’s leading banks, insurance firms, BPOs, healthcare organizations, government agencies, telecom companies, and shared service centers. Some of our prestigious clients include Citi Bank, Coca-Cola, Metlife, Astra Zeneca, Johnson & Johnson, East West Bank, Galaxy Backbone Plc., Nigeria, ICICI Bank, Strides Arcolab, Max Bupa Life Insurance, Liberty Insurance, Abu Dhabi Commercial Bank, ECO Bank, Bank Muscat, United Arab Bank, Bank Dhofar, Diamond Bank  and Arab National Bank.

What is your partner base in India?

 We have three types of partners in India. 1. Global System Integrators (GSI and Regional SI, 2. Premium Partners and ISV Partners. These partners spread across India and aligned with Newgen regional partner managers for sales & presales support. These partners are trained on Newgen products and solutions on the bases of their vertical focus. They are provided with Newgen partner portal for easy access of Newgen information. We help partners to set up Newgen product lab at their premises for hands on experience, along with dedicated technical support. We have recruited these partners on the basis of regional & vertical strength, where Newgen wants to focus. Newgen also provide certification facility to their partners, where partners can certify their sales/technical resources. Newgen also organize extensive online training and class room training on sales/presales/technical aspect every quarter at their office.

How will you differentiate Newgen Software’s technology solutions from your competitors?

One of the primary reasons why Newgen has been one step ahead of its competitors is because our offerings have been innovative and of highest quality, and at the same time highly cost effective. Driven by a team of dedicated and passionate leaders, innovation is a mainstay for us. Our focus has been around building futuristic products and solutions. With our Intelligent BPMS solution, and Mobile and Cloud offerings, we are perfectly poised to enter our next phase of growth towards attaining a better position in the global software market, while maintaining our leadership position in the Indian market. Innovation is at the centre of our corporate strategy.  Our flexible licensing polices allow customers to opt for ‘partial solutions’, which greatly lower the cost of solution acquisition. We offer cost-effective solutions to our customers that deliver high value for money with sustainable business benefits. These are some of the key factors that give us a strong edge over our competitors.

How is the growth graph of Newgen Software since its inception?

Started with its core competency in Imaging, Newgen has come a long way since its inception in the year 1992 to the present day, where we are globally recognized as one of the leading IT solutions provider. Newgen has moved steadily towards consolidating its position as the most trusted technology partner for leading organizations across the globe. With our internationally acclaimed suite of solutions built on advanced technology platforms, we have made rapid inroads into Americas and Europe while maintaining leadership in the emerging markets. Our focused channel strategy has also paid off well, with our partner ecosystem comprising of more than 200 organizations across 58 countries. Our ambition is to increase our footprint to in Middle East and Africa and maintain our advantage in India and APAC markets, expand to over a 100 countries and become one of the largest software products companies within BPM and ECM space, in the world. With a continuous focus on innovation, we look to continue our annual Year on Year revenue growth of 30%, over the next few years. Our focus will be on enhancing and innovating within the SMAC (Social, Mobile, Analytics, and Cloud) framework, while we add stronger capabilities to our products.

What are the major achievements of Newgen Software in last couple of years?

There have been many significant achievements for us in past few years. We have forayed into newer geographies independently and through our partner network. Especially in US, we have seen a notable increase in our client base, while we have consolidated our leadership position in India. With focus on innovation, Newgen has ventured into new verticals using its innovative product portfolio. Our point solutions for stringent mandates like US FATCA have helped banks and financial institutions to effectively monitor accounts and thus adhere to compliance. This has helped them to attract more business from US. Newgen is the only Indian company to be featured in all 4 Gartner Magic Quadrant reports including Gartner Critical capabilities report for case management framework, ibpms, ECM and CCM. We have also been featured in Forrester ECM Wave report for the year 2013. Recently, Gartner has recognized Newgen as a ‘Visionary’ in the 2014 Magic Quadrant for Enterprise Content Management.

 What are your expansion plans in future?

Having established ourselves as the leading IT solutions provider, with over 1100+ installations across 58 countries, we now want to increase our market penetration by expanding our direct presence across various regions. We have aggressive expansion plans for next five years. As a step in this direction we have opened new offices in Singapore, Canada and Florida to bolster our sales efforts. We are targeting aggressive growth in the US market with greater focus on cloud computing technologies for enterprise solutions in ECM, BPM, CCM and ACM space. We see growth in the US to continue for the next 3 years. Going forward, we are planning to further expand our reach in North America, with particular focus on healthcare, shared services centers, government apart from BFSI. We also have planned to expand our network of partners for specific verticals and geographies in the next 5 years.