What Are Newgen Software’s Global Plans Like?
Amid the pandemic, corporations and companies have been ensuring smooth operation of businesses. Talking to Gairika Mitra, Diwakar Nigam, Managing Director, Newgen Software, tells us about Newgen's upcoming plans and how they are expecting a significant part of their revenue through their global establishments...
How do you think has the crisis paved the pathway for digitisation?
This crisis has reiterated the importance of digital. The current scenario has made automation a prerequisite and organizations need to leverage a digital automation platform, with cloud and low code capabilities, to quickly respond to the dynamic environment. Leveraging such a platform, organizations can run their businesses remotely and securely without impacting the speed and quality of their services.
A digital automation platform also enables enterprises to:
- Seamlessly collaborate and manage business processes from distributed locations and virtual work environments
- Bridge functional and data silos by automating their processes, content, and communication
- Leverage cutting-edge technologies like artificial intelligence (AI), robotic process automation (RPA), and mobility
What different approach is Newgen Software adapting to amid this newly coined normal?
Our ability to drive enterprise-wide transformation with a low code digital automation platform sets us apart from our peers. Our industry-recognized products – intelligent process automation (BPM), contextual content services (CCM), and omnichannel customer engagement (CCM) help enterprises in managing their processes, content, and communication. We solve for industry-specific needs with our purpose-built applications that offer extensive integration capabilities and flexibility. And, enable our customers to deliver unparalleled experiences to their customers.
How is Newgen Software striving to help out enterprises in rapid application development, while working in a remote environment?
Our digital automation platform with cloud and low code capabilities helps enterprises in rapid application development in a remote environment, enabling them to maintain business continuity during unprecedented times like these. The platform helps enterprises in achieving speed and agility by bridging organizational silos. It enables our customers’ to build an enterprise that is nimble and future-proof. The platform also supports new-age capabilities, such as AI, RPA, cloud, mobility, blockchain, social, and analytics, to help businesses stay current and competitive.
How do you think has technology been providing for the seamless functioning of businesses?
Technology has come to our rescue under the current circumstances by supporting a virtual working environment. It has enabled people to collaborate seamlessly and has ensured uninterrupted delivery of services, facilitating business continuity. While technology is a blessing and augments our efforts, it should be leveraged effectively for achieving the desired results.
What kind of initiatives is your company taking with regard to the pandemic?
We understand the criticality of the situation and are working tirelessly to address the concerns of our stakeholders. We responded quickly by shifting our employees and customers to a remote working environment, without impacting the quality of our services. Now, we are going live with new projects, capturing client requirements remotely, and successfully conducting online demos. Our products can be deployed on the cloud within days while complying with regulatory requirements. We have a well-defined business continuity plan, ensuring uninterrupted operations for our customers globally.
Could you acquaint us with the Newgen loan origination software and your long term plans?
With governments across the globe announcing relief packages for small businesses affected by the COVID-19 pandemic, we enhanced and customized our Newgen loan origination software for each geography to immediately cater to our customers’ needs. The software helps banks in processing loans to their small business customers promptly and efficiently while complying with the regulatory requirements. We have implemented the loan origination software for the SBA Payment Protection Program in the US and are also geared up to provide the software for the SME Guarantee Scheme in Australia and the CBILS Quick Loans Onboarding Solutions in the UK.
We will continue to focus on the US, Europe, and Australian markets and expect to build a strong growth momentum. Also, as part of our expansion plan, we are investing in building a sales channel for the global system integrator network. We hope to achieve a significant part of our revenues in the next five years through this channel.
Do you want to leave us with a word of advice?
Entrepreneurship involves passion. There is a lot of energy on the entrepreneurial journey. It’s not about making money or selling your company. You may work for only 10-12 hours a day, but your mind is continuously working on problems to solve, ideas keep coming. It is intense, hard and needs concentration. Entrepreneurship gives you time to create great work. “Time slows down”.