“Innovation is at the heart of everything we do,” states Virender Jeet, CEO, Newgen Software Technologies. Trusted by successful enterprises worldwide, Newgen is a leading provider of a unified digital transformation platform with native process automation, content services, and communication management capabilities. The company has wholly-owned subsidiaries across the United States, Canada, United Kingdom, United Arab Emirates, and Singapore.
Virender has been with Newgen for over 26 years and manages the overall strategic and operational functions for the company’s entire portfolio of offerings. Taking a trip down memory lane, Virender reveals, “I am glad to be associated with Newgen since its inception. Mr. Diwakar Nigam, Chairman and Managing Director, dreamed of building a world-class software product company. I would say Newgen is a result of his vision.”
Newgen was established in the early 90s, a watershed decade for the Indian economy, when businesses found a new outburst of energy and enthusiasm that was unprecedented in the post-Independence era. Many service companies were sprouting in the country’s major cities. However, Newgen chose a different path. “We wanted to be a product company and not just services. Our focus has been on strengthening our platforms’ capabilities. As a result, leading industry analysts have consistently recognized our platforms. Also, we wanted to cater to the global market’s needs and thus extended our reach with our partner network,” explains Virender.
To date, 22 patents of Newgen have been successfully granted in India and the US. Annually, the company invests 9-10% of its revenue on R&D and has a dedicated team of about 500 people with deep domain expertise. Newgen has continued to progress organically based on its solid foundation, innovative product roadmap, and vision, and today they have a presence across 72 countries. “When we started Newgen in 1992, we believed in creating an ecosystem where every enterprise is connected—one world, one workplace. Even after three decades, it still holds value. We continue to transform businesses globally by innovatively connecting systems, processes, people, and things,” pinpoints Virender.
A New-age Platform Built from Passion & Entrepreneurship
NewgenONE, a natively-built comprehensive digital transformation platform, is a one-stop solution for enterprise-wide needs. The platform combines process automation, content services, and communication management capabilities. It enables enterprises to leverage low code for developing and deploying complex, content-driven, and customer-engaging business applications on the cloud.
“We natively developed our NewgenONE Digital Transformation Platform, which is a result of 30 years of passion and entrepreneurship,” proudly asserts Virender. NewgenONE empowers professional IT developers with speed and agility. It allows enterprises to develop and deploy customer-facing applications with a consistent user experience across multiple channels. Furthermore, it facilitates seamless integration with various back-end and third-party systems and applications. NewgenONE has been consistently recognized by leading industry analysts such as Gartner, Forrester, & Aspire, conferring it as a Niche Player, Strong Performer, and Leader for its low code, content management, and communication management capabilities.
Offering a Competitive Edge to its Partners
At Newgen, there is an extensive partner ecosystem, including global system integrators, consulting and advisory partners, value-added resellers, and technology partners. “To support them, we offer various training and certification programs, comprehensive sales kits, run lead generation and digital marketing campaigns, organize customer meetings and demos. Additionally, we do co-marketing on target accounts by organizing events, webinars, or panel discussions to create awareness, generate interest, and craft more opportunities,” adds Virender.
The company also has Newgen labs set up at partner premises that allow their partners to work on Newgen’s products in real-time and provide training for actual deliveries. Over the years, the innovative software company has transformed enterprises across multiple industries by enabling automation of complex and content-centric business applications with speed and agility. Currently, Newgen is catering to the needs of financial institutions, insurance organizations, government institutions, and shared service centers.
Crafting a Culture of Innovation & Excellence
A healthy working environment enables employees to showcase their skills, perform exceptionally, defeat challenges, create opportunities, and offer loyalty to the company. At Newgen, employees are encouraged and motivated at every step.
“During the pandemic, we conducted sessions on mental health, meditation, yoga, and others. We also arranged for free vaccination drives, onboarded qualified doctors for teleconsultation, and provided a testing facility,” states the dynamic CEO at Newgen. The leading software company offered interest-free loans to its employees and made some exceptions in payroll processing in the hour of need.
Newgen also keeps track of its employees’ engagement and performance to understand their areas of strengths and scope for improvement. Additionally, its rewards and recognition program recognizes the contributions and efforts of its employees at regular intervals. Virender further adds, “We ensure that employees always feel appreciated, valued, and motivated.”
Customers Always Come First
Customer satisfaction is one of the top pillars of Newgen’s success. To meet client requirements on a global scale, Newgen’s CRM team stays connected with them through advisory boards, customer meets, communities, and newsletters; the team periodically measures the success of their implementations through customer satisfaction surveys and also celebrates various milestones with awards and accolades. “We also offer value-added dashboards to our customers that help them monitor and track every aspect of an implementation. This allows us to recognize key contributors, and it also opens up the door for future opportunities within the client company,” asserts Virender.
Newgen launched the Moments of Truth Survey (MoTS) to enable effective listening at key “Moments of Truth” across the customer lifecycle to aid in this endeavor. With MoTS, the CRM team at Newgen can acknowledge customers’ concerns and ensure timely resolution. Likewise, during the pandemic, when businesses faced difficulty in ensuring uninterrupted operations, Newgen’s team enabled clients to transition to the remote working model in no time and keep the lights on.
Sharing one of the notable case studies, Virender states, “Recently, a leading health insurance provider developed and launched a core health insurance system using Newgen’s digital transformation platform with low code capability. We delivered on the customer’s expectations within eight months of expressing the need, even though most of our teams were working remotely due to the pandemic. The low code development methodology and its suitability for rapid application development and deployment perfectly suited this innovative case.”
Present Growth & Future Plans
Since its inception, Newgen has shown consistent growth across all geographies, especially in markets like North America, the EU, and ANZ, with significant contributions from EMEA and India. For Q2 2021-2022, its total income increased by 22%, and profit after tax increased by 28% compared to the same period last year. Also, the low code-based digital transformation platform provider company has witnessed a spike in its cloud business and a steady increase in customers adopting the cloud model. “We are reworking our business model and moving towards a more annuity-driven one, primarily in markets like the US, Europe, APAC, and the Middle East,” Virender further continues.
Not long ago, Newgen acquired India-based Number Theory, an AI/ML (artificial intelligence and machine learning) data science platform company.
In the coming days, Newgen will continue to focus on driving innovation and embracing disruptive technologies such as AI, ML, process analytics, digital sensing, and more to further enhance their offerings. With their global implementation experience and vast domain knowledge, they have ready-to-deploy solutions to enable a faster go-live. They continue to enhance their custom-fit industry applications to enable streamlined operations across various customer journeys.