Enabling a Responsive and Modern Brand of Governance
“Newgen has been acting as an enabler for responsive and modern brand of governance.Our solutions for e-governance, such as e-Office, e-Municipality, e-Secretariat, smartcity, direct benefit transfer (DBT), electronic document &records management, etc., are being utilized by multiple Government departments, PSUs, and agencies across the country to provide a digitally enabled workspace”, asserted Diwakar Nigam, Chairman & MD - Newgen Software Technologies Limited in conversation with Poulami Chakraborty. Details below:
What are the various domains of operations the Newgen Software caters to in the Enterprise Business in India?
Newgen is a global provider of low code application platform for managing content, processes, and communication. Our solutions are deployed across the world’s leading banks, government agencies, BPOs and IT companies, insurance firms and healthcare organizations. We provide solutions for 17 different verticals and strive to innovate our products to help customers stay ahead of the technology curve. Our platform, powered with machine learning, digital sensing, and robotic process automation, helps build cutting edge solutions that offer superior customer experience.
Does Newgen Software also cater to the government sector in the country? Please elaborate?
Newgen has been acting as an enabler for a responsive and modern brand of governance. Our solutions for e-governance, such as e-Office, e-Municipality, e-Secretariat, smart city, direct benefit transfer (DBT), electronic document &records management, etc., are being utilized by multiple Government departments, PSUs, and agencies across the country to provide a digitally enabled workspace.
Newgen’s slow code platform enables government agencies to transform their services and achieve citizen satisfaction while complying with regulations. Our solutions ensure effective delivery of citizen & business-centric services through automation of inter and intra-department government processes which can be disseminated through Portals, Citizen service centres (CSCs), Mobile apps, Kiosks etc. The solutions are secure, scalable, and robust that meet current and future requirements of government.
What challenges do you face while operating in the Indian market? What methods of mitigation do you adopt?
India has always been a complicated and tricky market Although the Indian market is huge and growing at a great pace,there are a lot of uncertainties. Looking at the present situation, we are optimistic as the government is undertaking various digital initiatives.
What plans for expansion are Newgen Software having in the Indian market?
India is a key market for us and it comprised 33% of our revenues in Q1 FY’20. Digital transformation is a focus area across our core sectors in India including – Banking and Financial services and Government/ PSU projects. We understand there is a large scope in these sectors and we are actively seeking out business opportunity to serve them. During the first quarter of the financial year we have entered into a license agreement with a large public sector bank in India. At the same time, we are also seeking more opportunities in the Defenceand Healthcare segments.
In Q1FY20, we reported 23% YoY growthin our consolidated revenues from all markets to reach Rs 131.0 crores as compared to Rs 106.5 crores in Q1FY19. At the same time, we witnessed business growth of 65% in APAC market (excluding India) and 24% in USA regions during the quarter with SaaS being our fastest-growing revenue component.
Is India 5G Ready? Your opinion.
5G technology would be the main building block for a digital economy. It will also pave the way for more widespread IoT applications. The key challenges will be the allocation of spectrum and upgrade of technical infrastructure.
What is your opinion about the Data Protection Bill?
In our opinion, data is critical and it is important to protect it. The proposed Data Protection Bill will have a huge impact on the entire industry. Storing data locally would require data storage facilities within the countrythat would involve large capital requirement and the required infrastructure.
What Solutions are you providing to the BFSI Sector at the backdrop of changing scenario in the Banking and finance segment?
BFSI is core to us and we offer a host of solutions, such as account opening, loan origination, trade finance, payments, and compliance & reporting processes. Our banking solutions are available on cloud or on-premises and are powered with modern technologies including RPA, AI/ML, social sensing, mobility & analytics.
How is Newgen Software driving the Enterprise Content Management business in India? What competition do you feel in the same business domain?
Newgen’s ECM empowers workers with the right content in the right context to deliver a rich customer experience. The solution offers end-to-end content management services, from capture, extraction, management, archival to disposition. It facilitates day-to-day operations through fast and secure information access. We compete with vendors like Opentext, IBM, Microsoft in this space.