Diwakar Nigam, the Managing Director of Newgen Software Technologies,
founded Newgen in 1992. Mr. Nigam has been an active player at the national software industry as a founding member of NASSCOM (National Association of Software and Services Companies). He is also a member of the Anti Piracy Task Group formed by NASSCOM.
Mr. Nigam has been pursuing the goal of building a world-class Product Development Company ever since his graduation and Newgen is the fulfillment of that goal. Newgen is involved in the development of Enterprise Content Management and Business Process Management Software and has made an impact in India and Internationally. Today, Newgen’s client list consists of some of India’s and the world’s largest Banks, Insurance Companies, BPOs, MNCs and big corporate houses. Under Mr. Nigam’s dynamic leadership, a team of highly qualified software professionals develop software, which is totally indigenous.
In an interview with Mamta Maity, indiainfoline.com, Diwakar Nigam said, “
Newgen’s BPM solution, OmniFlow intelligent business process suite (iBPS) is an enterprise-wide low-code rapid application development platform to drive end-to-end process automation. It enables organizations to manage the complete range of business processes, leveraging advanced technologies like RPA, AI/ML etc."
Kindly explain about the software products offered by Newgen Software.
Newgen Software is a global provider of business process management (BPM), enterprise content management (ECM), customer communication management (CCM) solutions with a footprint in 66 countries with large, mission-critical solutions deployed at banks, governments, BPOs & IT companies, insurance firms and healthcare organizations. Our software products help organizations drive digital transformation and gain competitive advantage.
Newgen’s BPM solution, OmniFlow intelligent business process suite (iBPS) is an enterprise-wide low-code rapid application development platform to drive end-to-end process automation. It enables organizations to manage the complete range of business processes, leveraging advanced technologies like RPA, AI/ML etc.
Newgen’s ECM solution, OmniDocs enterprise content management (ECM) suite is a market-leading unified automation platform offering extensive capabilities for capturing, processing and storing content, managing content-centric processes, delivering information and archiving records and documents.
Newgen’s CCM solution, OmniOMS customer communication management(CCM) suite is a unified communication platform that helps organizations connect with every customer by delivering personalized, targeted and consistent communications across all touchpoints.
All three work in tandem to help organizations build a connected enterprise. BPM enables process orchestration, ECM contextualizes interactions and CCM facilitates personalized and timely delivery of customer communications. All our products are built on our low code platform that provides organizations with the agility and responsiveness required to cope with change.
What was the inspiration and motive behind starting Newgen Software?
Back in the 90s, it was very common to get caught up in the rut of getting a good job after passing from one of the IITs. But I had a dream of being an entrepreneur. We dreamt of building the best software products from India; to do something worthwhile and change how businesses work. We used to see the flow of paper in banks – it once took me 40 days to get a small loan. Something clicked and we decided to build an imaging software to automate the flow of paper in enterprises.
One of our early customers was a global bank. Thanks to our software, they were able to centralize all their operations in India to one location. They even started processing business of their operations in Poland, Nepal and other countries from India. This trend picked up in many banks and even led to the advent of the BPO. We genuinely changed how businesses worked. Ever since Newgen has always kept up with the technological transformations happening across the globe. It wasn’t an easy task to accomplish but we overcame all the challenges and enabled our esteemed customers to edge ahead in a highly competitive environment.
For a software product company’s point of view, how critical is R&D?
It is important for a software product company to invest in R&D in order to deliver the most cutting-edge solutions to customers and maintain a competitive advantage in the market. Newgen is heavily focused on R&D and is building a skilled R&D team of 320+ people with deep domain expertise. Additionally, Newgen also incurs annual R&D expenditure amounting to 7-8% of its revenue. We have 27 years of product DNA and continue to focus on product innovation through patents. We have already filed 44 patents across India and US, out of which 13 have already been granted and 21 are under processing. We are also developing agile, purpose-made solutions in areas of intelligent content services, collaborative work management, low-code application development platform, digital sensing, blockchain and RPA.
Please share insights about BPM with RPA offering.
Robotic process automation (RPA) is revolutionizing various industries; it’s indeed speeding up processes and freeing up business users to perform constructive tasks and deliver smarter results. Newgen iBPS RPA suite is a core component of Newgen’s BPM solution. The suite comprises of process simulator, robotic agents, robotic control center and BAM (Business Activity Monitoring) to identify, automate, test, and measure the key activities across processes. The cognitive capability of bots, achieved via machine learning and artificial intelligence, enables businesses to mimic human actions and deliver sound judgment without manual intervention.
What differentiates a traditional BPM solution from iBPS RPA product suite is that the RPA components are enabled in the BPM environment and act as a centralized control center to create control and monitor the robotic agents. The analytics and rules engine supports the RPA components with information for making constructive decision-making. Leveraging the iBPS RPA solution, business leaders can gain complete process visibility and monitor human activities, bot statistics, exceptions, queue monitoring, process level and queue level alerts, etc. Through the suite’s RPA capabilities, organizations can streamline their overall processes and witness an improved business performance in a cost-efficient manner.
Is Newgen in blockchain space, if yes please share details?
Newgen provides purpose-built solutions to explore different aspects of blockchain and deliver value to clients from the BFSI, healthcare, energy, social media and, operations verticals. Newgen’s Blockchain team has developed solutions and pilot projects in areas of trade finance, KYC/Registry, energy marketplace and Asset Lifecycle Digitization to leverage the enormous potential of the technology ensuring transparent delivery of a powerful and immutable platform. As part of workflow automation, organizations can publish transaction details, audit logs or contracts in a distributed ledger like Ethereum. Similarly, as a part of the Trade Finance process automation process, smart contracts can be generated and published on the blockchain ledger. These smart contracts help organizations maintain better transparency and higher operational efficiency.
How is the demand for AI/ML in India?
The demand for AI/ML in India has been growing steadily. The technology is witnessing a huge demand in the Banking sector where there are several use cases. The manufacturing industry has also been implementing AI/ML on a large scale. We see other industries holding great promise in terms of AI/ML demand in the future.