Digital transformation has gone to the next level when computers and smartphone devices are playing a vital role in human life. Daily organizational work has undergone a digital transformation which subsequently changed the face of working.
The need for digital applications was rising, but a sufficient number of developers were not available to do that work. So, the platforms are made to create applications where a company person can abstract and customize with automated steps as per the requirements. This made organizations do their daily work very efficiently and in a less time-consuming manner.
Newgen Software is a Low Code Automation Platform that is globally recognized to create business applications that manage process, content, and communication with the customers of their clients.
Not everyone knows how to code. That is why this platform makes it simple for organizations with customized software requirements. Newgen has IT professionals and developers available in their team who are constantly upgrading the platform to make it more friendly, even for the person who does not know how coding works.
Recently, we conducted an interview with Anurag Shah, Head of Product and Solutions at Newgen Software, to know more about the organization and his participation in it.
So, without further ado, let us dive right into the interview and cherish the knowledge we are about to receive:
Please brief our audience about Newgen Software, its values, and how it is positioned as a leading player in the software development space.
Newgen Software is a result of the vision of Mr. Diwakar Nigam, our Chairman and Managing Director. He wanted to build a world-class software product company. And today, Newgen is a leader in contextual content services, low code intelligent process automation, and omnichannel customer communication technologies – transforming the way enterprises service their customers, enable their employees, and collaborate with their partners. We have combined all three platforms with offering the most comprehensive and complete digital transformation platform for enterprises – NewgenONE.
NewgenONE is the result of 30 years of passion and entrepreneurship, especially in document management and process automation, keeping customer success as the topmost priority. It is a unique offering that started with humble beginnings in India to establish itself as a leading platform for Fortune 2000 enterprises globally. Its natively built products and platform deliver a synchronized and connected engagement for its users, thereby simplifying experiences.
Innovation is at the heart of everything we do. To date, we have filed 44 patents, out of which 22 have been granted in India and the US. We invest 9-10% of our revenue annually in research and development activities. We have a dedicated team of about 500 people with deep domain expertise, who conduct extensive studies into the needs and challenges of the market, from banking to insurance, to manufacturing, and more. This initiative enables us to address the market needs by continuously upgrading our solutions to remain relevant in the current scenario and help enterprises tackle any uncertainties.
Newgen has more than 550 customers in 72 countries across banking, insurance, government, manufacturing, media, oil & gas, and other industries. Newgen Partners ecosystem spans across more than 350 partners worldwide, including leading consulting companies (likes of Deloitte, PWC, and EY), global system integrators (likes of Infosys, TCS, and Wipro), and value-added resellers.
Elaborate more on the solutions and services that Newgen Software offers, and how are these making an impact on the industry and your clients?
Enterprises need to manage their processes, content, and communications – as they develop business applications – solving for end-to-end customer journeys. Some of these business applications are simple, ad hoc, and with limited customer interactions. While there are other business applications that are mission-critical, complex, content-driven, and involve sophisticated, omnichannel customer interactions. Our cloud-based NewgenONE Digital Transformation Platform with low code capability is for automating the latter set of business needs. The platform “unlocks simple” in business operations, making it easier for all stakeholders to participate, utilize information, make decisions, and service its customers (internal and external).
The platform has been consistently recognized by leading industry analysts for its low code, content management, and customer communication capabilities. 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.
Anurag, tell us about your journey in the industry and how you have contributed towards Newgen Software’s success.
I joined Newgen right after post-graduation in 1999, and my journey started in the product management group (PMG), working on workflow and document management-based solutions for banks and financial services customers.
As part of PMG, I was intrinsically involved in the development of the first version of Newgen’s low code product iBPS (erstwhile BPM – OmniFlow) and managed the initial few implementations of Newgen BPM and ECM products for BPO (Business Process Outsourcing) and insurance customers for their mission-critical enterprise-wide use cases.
Starting early 2000, I started taking a more extensive and leading role in the delivery and helped implement Newgen products, especially BPM & ECM, in the banking, financial services, and insurance verticals. Towards the end of the decade, I was heading delivery for the US, Caribbean, and West India.
From 2010 onwards, I was entrusted to lead the products and solutions division to expand Newgen’s footprint and grow business in North America, South/Central America, including the Caribbean, LATAM, and Brazil. I helped set up the products and solutions practice intertwined with delivery methodologies in Newgen US. Soon, the results started pouring in with a couple of back-to-back breakthroughs in the US community banking and credit union segment.
Towards the end of the last decade, Newgen strategized GSI (Global System Integrator) partnership-led sales motion in the US, and I led the initiative. Today I head the products and solutions division and GSI relations for Americas and continue to be an active contributor in product development. I also actively collaborate with marketing for analyst engagements and more.
Share your opinion on how modern technologies have transformed the low code development solutions niche and what more could be expected in the near future?
Several leading-edge technologies are being stitched into the low code development suite. However, true digital transformation is achieved only when these modern technologies are used in the context of the business, keeping customers and employees in mind. Here is a classic example of how a low code platform is being complemented by new-age technologies to deliver a seamless customer experience:
Consider a home equity loan solution that is built on a low code platform. It includes content services, NLP, AI/ML Cognit, and RPA. And then, it integrates with several internal and external systems to collate the information and unify it before presenting it to knowledge workers. These systems include bureaus for credit reports, agencies for appraisal reports, core banking for customer information, to name a few. All these technologies work in tandem to deliver a seamless customer experience.
Considering the COVID-19 pandemic and its impact on global economies, what were the challenges faced by Newgen Software’s doors, and how did you pivot from those challenges?
Like any other business, we too had to respond to the unprecedented situation quickly. We implemented business continuity measures and extended our development network via VPN connectivity, enabling our employees to work remotely. This helped us maintain our operational resilience. And we also offered our solutions on the cloud, which made deployment possible within hours and in line with the regulatory requirements of every geography.
Having mentioned the challenges, the pandemic also presented tremendous opportunities for us as it accelerated the need for digital transformation across industries globally. We were able to anticipate the business and the market changes, and we quickly responded by shifting our employees and customers to a remote working environment.
There was no business disruption, and the quality of our services remained top-notch. Our NewgenONE platform was a great enabler in ensuring that our customers were able to transition to the new normal of a digital working environment without any hiccups.
What would be your advice to budding entrepreneurs aspiring to venture into the low code development solutions space?
There are two aspects of low code solutions—citizen developer and professional developer-based solutions. While citizen developers utilize low code for departmental and simple to medium complex information processes, professional developers combine several tools and technologies to deliver mission-critical and complex business automation solutions.
For low code enthusiasts, I urge them to look at it from the perspective of revitalizing the business case for content and collaborative services as your business imperatives change in today’s uncertain times.
- Keep the business case fresh as priorities continue to change and the maturity level of low code platforms keep rising
- Align the business case to the top corporate priorities to help obviate failure
- Get executive support – it leads to sponsorship
- Show quick wins
- Set performance metrics aligned with the corporate priorities you identified, and decide how to recognize the desired outcomes
- Address change management and user adoption issues iteratively. It is not a one-time project
- Gather and use data and feedback to plan for continuous improvement
How do you envision scaling Newgen Software’s operations and offerings in 2022 and beyond?
NewgenONE, our low code-based digital transformation platform, continues to enable enterprises globally with rapid and agile development and deployment of complex business applications. The platform will continue to inherit current and future enhancements of its underlying platforms for content services, process automation, and customer engagement.
In 2022 we will focus on improving the developer experience, strengthening functionality with AI/ML and RPA, enhancing the deployment and application governance experience, improving integration between Newgen’s products and third-party systems, and building a consistent, new-age UI/UX across all products.
To make our solutions future-proof, we will continue to further enhance our solutions with new-age technologies like AI, ML, process analytics, intelligent content services, contextual automation of business processes, mobility, and digital sensing.
Words of Praise from Satisfied Clients
“Through our partnership with Newgen, we’ve been able to implement various new designs and processes. We have empowered our employees to deliver the best quality services. And all of this adds up to a great customer experience.”
- Nancy Foster, Senior Vice President Credit Administrator, Bridgehampton National Bank
“We are glad that we chose Newgen for its API-based E-Tran integration capability that helped us in reducing application submission time to under a minute. Newgen’s product helped us in processing all the applications in our pipeline, thereby ensuring funding for all our customers and allowing us the opportunity to serve new customers.”
- Mitch Cook, Senior Regional President, MidWestOne Bank
