Careers at Newgen Software
Newgen Software’s mission is to transform businesses by innovatively connecting systems, processes, people, and things.
Entrepreneur Diwakar Nigam and his colleague T.S. Varadarajan wanted to help businesses move towards paperless operations. So in 1992 they founded Newgen Software Technologies Limited, Nigam’s second company, in New Delhi, India. It was an IT firm that focused on Enterprise Content Management and Business Process Management. It began with a team of 20 engineers.
Newgen Software’s main goal was to create products that assisted smart imaging and document management applications. Its first significant contract involved licensing document processing software to Canon. By 1999 its software development team had grown to 250 engineers. By 2015 it had 600 employees operating out of India, the United States, Canada, Singapore, and the UAE.
Business model of Newgen Software
Newgen Software has a segmented market business model, with customer groups that have slightly different needs. The company targets its offerings at insurance firms, banks, healthcare organizations, telecommunications firms, shared service centers, and governments.
Newgen Software offers four primary value propositions: accessibility, performance, risk reduction, and brand/status.
The company creates accessibility by providing a wide variety of options. Its solutions automate essential business processes for banks in the consumer lending, commercial lending, online account-opening, customer onboarding, trade finance, and mobile/digital customer experience areas.
The company demonstrates strong performance through tangible results. Specific positive outcomes for clients include the following:
- Ranbaxy Laboratories Limited used Newgen Software’s Accounts Payable solution to transform its F&A operations, resulting in a 30% decrease in cycle times and $1.6 million in cost savings
- Max New York Life used Newgen Software’s solutions to strengthen its back-office solutions and processes, resulting in a 70% increase in employee efficiency and productivity
- Abu Dhabi Commercial Bank used Newgen Software’s solutions to automate and integrate key processes, resulting in a 100% increase in the volume of transactions handled daily
- The North Carolina Department of Public Safety used Newgen’s solutions to centralize and index information for 40,000 records, resulting in a significant reduction in paper handling costs
The company reduces risk by maintaining high quality standards. It has received the following quality certifications: ISO 9001:2008, ISO 27001:2013, CMMi Development (v1.3) Level 3, and CMMi Services (v1.3) Level 3.
The company has established a strong brand due to its success. It has completed 1300+ customer installations in more than 61 countries. Its clients include over 200 top banks and financial services institutions. Prominent customers across industries include Coca-Cola, HSBC, Deutsche Bank, Ingram Micro, and ESPN.
It has placed highly in Gartner‘s Magic Quadrants for Intelligent Business Process Management (iBPM), Enterprise Content Management (ECM), Customer Communication Management (CCM) and BPM-Platform-Based Case Management frameworks. Lastly, it has won many honors, including the following:
- WFMC Global Award for Excellence in Business Process Management
- Recognition as one of the Top 100 Global Companies by Red Herring
- Emerging India Award for IT, IteS, and ICE from CNBC
- D&B Business Excellence Award for Excellence in IT & IT Enabled Services
- Elets PSU Summit Award for Automation of Multiple Processes
Newgen Software’s main channel is its direct sales team. The company promotes its offerings through its website, social media pages, and participation in summits, forums, and conferences.
Newgen Software’s customer relationship is primarily of a self-service nature. Customers utilize its products while having limited interaction with employees. The company’s website provides useful information through newsletters.
That said, there is a personal assistance component in the form of phone and e-mail support.
Newgen Software’s business model entails designing and developing its software products for customers.
Newgen Software maintains the NEW GENeration Partnership Program, through which it works with firms that use its technology in order to create enhanced offerings and extend its reach. Partners fall into the following categories:
- Global System Integrators – Include Accenture, Dell, Infosys, Capgemini, Cognizant, and Wipro
- Technology Partners – Include Microsoft, Samsung, NEC, Redhat, and Amazon Web Services
Partners receive training and end-to-end support that includes pre-sales assistance and online tools.
Newgen Software’s main resources are its human resources, who include the engineers that design and develop its software, the sales employees that promote it, and the customer service personnel that provide support. It has relied heavily on funding from investors, raising $25.3 million from four investors as of February 2014.
Newgen Software has a cost-driven structure, aiming to minimize expenses through significant automation. Its biggest cost driver is likely sales/marketing, a variable expense. Other major drivers are in the areas of customer support/operations and research/development, both fixed costs.
Newgen Software has one revenue stream: revenues it generates from the sale of its software products to customers.
info: Diwakar earned an undergraduate degree at the Indian Institute of Technology, Madras. He previouslys served as the Managing Director of Softek and has founded several companies.
info: Virender earned a B.E. in Computer Science at D.Y. Patil College of Engineering. He previously served as the Vice President of Technology at Newgen Software. He oversees Newgen Software’s product design and development.
info: S.J. earned a degree at the Jamia Millia Islamia. He has held leadership roles at Newgen Software in business management, operations, and human resource management. He has been with the company since its inception.
info: T.S. earned a Bachelor’s degree in Technology at the Indian Institute of Science and a Masters degree in Technology at the Indiain Institute of Technology, Madras. He previously served as the Chief Operating Officer of Newgen Software.
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