Newgen Software Management Discussions

Company Overview

Newgen Software Technologies Limited is the provider of enterprise-wide unified digital transformation platform (NewgenONE) for automating the end-to- end process and comprehensively managing content and communications, backed by AI-based cognitive capabilities, strong governance and robust integration ecosystem. The core products of NewgenONE platform are Contextual Content Services (ECM), Low Code Process Automation (BPM), Omnichannel Customer Engagement (CCM) and Artificial Intelligence Cloud. Globally, successful enterprises rely on Newgens industry-recognized low code application platform to develop and deploy complex, content-driven, and customer-engaging business applications on the cloud. The platform has a wide spectrum of use cases across industries from onboarding to service requests, lending to underwriting, and many more.

The NewgenONE platform is built on a unified architecture and thus is extremely compatible and capable of seamless integration, providing competitive differentiation from other market products. The platform has a cloud ready architecture on AWS and Azure and is well-suited for Fortune 2000 enterprises with multiple platform needs for their current and future solutions.

Newgen is successfully certified/assessed for ISO 9001:2015, ISO 27001:2013 and CMMi 2.0 for Dev Level 3. The Company, with its well-recognized products and solutions, deep domain expertise and global experience, is well positioned in the market and is transforming businesses for over 520 customers across 74 countries through its enterprise solutions over the last 30 years. It has clients across India, USA, Canada, UAE, Saudi Arabia, UK, Philippines, Indonesia, Singapore, Australia among others. It offers products and solutions across 17 industries and has been a preferred partner to some of the worlds leading Banks, Insurance companies, Healthcare organizations, Governments, Telecom companies, Shared service centers, and BPOs among others. It is also a trusted partner for leading global system integrators for delivering value to enterprises with future-ready solutions.

The Company has a resilient business model in place with large annuity revenue streams and diversification across customers and geographies. Moreover, the Companys solutions are ofmission critical nature for the long-term customers which serves as the backbone to their operations. Newgen is actively helping customers

to continue operations despite the disruptions caused by the pandemic and act as a catalyst of change by offering solutions tailormade to adapt to the future.

Newgen continuously invests in research and development activities and areas of emerging technology to further amplify the digital transformation platform and be ahead of the market and its competitors. It has a strong R&D team which constantly focuses on various research & product development initiatives. Newgens patent portfolio comprises 23 patent grants as of March 2023 in India and US.

The Companys constant endeavor is to work on enhancing the product portfolio to meet the evolving industry and technological developments, changes in customer requirements and competitive products and features, to seamlessly deliver according to customer needs while reducing their total cost of ownership. Newgen focuses on advanced application design and development capabilities to strengthen its offering, while also continuously enhancing its deployment technology stack, enabling compliance, security, and scalability for enterprise needs. In line with changing market requirements, the Company constantly develops new business capabilities/modules/products to cater to the ever-changing businesses. Newgens focus is also on training the employees on new technology areas along with enhancing the Centres of Excellence (CoEs).

In FY23, the Company enhanced the NewgenONE platform. The Company backed the platform with a cloud-native, multi-persona AI/ML data science platform, enhanced document classification and extraction with AI/ML-based capabilities, integrated process and RPA capabilities, and strengthened our DevOps for easy application deployment/update. It also launched the low code Trade Finance offering and the Integrated Robotic Process Automation (RPA) offering thereby strengthening the low code process automation portfolio. With the acquisition of Number Theory Software Pvt. Ltd in FY22, the Company continues to strengthen its AI/ML and data analytics platform.

Newgens strong focus on product innovation makes it one of the few software products organizations which have attracted multiple recognitions from leading advisory and research firms from time to time. In March 2023, Newgen has been recognized as a "Leader” in The Forrester Wave™: Content Platforms, Q1 2023, authored by Cheryl McKinnon et al.

It continues to extend its reach globally by expanding the direct and indirect sales network. Currently, the Company has a direct presence in 7 countries. Its global sales organization is highly focused and comprises about 330+ employees in Sales & Marketing targeting specific geographies, supported by a large network of channel partners and system integrators. The Company continues to develop and leverage the system integrator and partner network for further market expansion.

With these structural changes, Newgen is getting ready for the future and strengthening its capabilities to capitalize the opportunities in the digital transformation space. The Companys strong team of professionals uphold the organizations core values in all endeavors and work together for growth.

Industry Overview

The Companys core addressable market can be broadly classified across Process-agnostic software that enables Hyperautomation including Low Code Application Development, Robotic Process

Automation (RPA), Business Process Automation and Content Services Platform market. Newgen has further expanded its addressable market by developing solution frameworks in key verticals including banking, government/PSU, BPO/IT, healthcare and insurance (addressed as the Application PaaS market). The relevance of digital transformation projects across the globe has been consistently rising to create sustainable and future-ready organizations.

According to Gartner Market Estimates, the global content services platform market is estimated at $7.6 billion in 2022. (*1) The business process automation market is estimated at $2.6 billion in 2022. (*2) The all-encompassing Process-Agnostic Software that enables Hyperautomation market is estimated at $ 38.5 billion in 2022. It forecasts that Content services platform market will be $9.3 billion by 2026. (*1) The business process automation market is estimated to reach $3.3 billion by 2026. (*2). The all-encompassing Hyperautomation market is estimated to be $65.4 billion by 2026.

Financial Performance Consolidated Financials in lakhs

(All amounts in lakhs, except per share data and unless otherwise stated)

FY 2023 FY 2022


Revenue from operations

97,397.87 77,896.15

Other income

3,398.57 2,991.20

Total revenue

1,00,796.45 80,887.35



Employee benefits

51,589.93 40,901.36

Finance costs

425.10 349.16

Depreciation and amortization

2,466.91 1,763.03

Other expenses

24,586.46 17,528.44

Total expenses

79,068.40 60,541.99

Profit before tax

21,728.05 20,345.36

Profit after tax for the year

17,626.53 16,421.47

Other comprehensive income/(loss) for the year, net of income tax

520.87 -72.13

Total comprehensive income for the year

18,147.40 16,349.34

Revenue from Operations

The Companys business has multiple revenue streams including:

• Annuity-based revenue: recurring fees/charges from the following:

o SaaS: subscription fees for licenses in relation to platform deployed on cloud; on-premise subscription

o ATS/AMC: charges for annual technical

support and maintenance (including updates) of licenses, and installation

o Support: charges for support and

development services

• Sale of software products: one-time upfront license fees in relation to the platform deployed on-premise

• Sale of services: milestone-based charges for implementation and development, and charges for scanning services

On a consolidated basis, the Companys revenue from operations stood at 97,397.88 lakhs reflecting an increase of 25% in FY23 as against 77,896.15 lakhs in FY22. During the year, the Company has made continuous progress despite the uncertain environment and had significant incremental business from existing as well as new customers especially in the traditional markets. The Company has an increasing trend of average ticket size per customer.

The Company has been focusing on expanding the recurring revenues in order to increase the predictable revenue streams. The Annuity revenues comprised 61% of the total revenues during the year. It has made substantial customer wins during the year and added 47 new logos, having an active customer base of about 520+ clients.

Segment-wise Performance

Revenue by geographical segment is the primary reporting segment for the Company. India was the strongest growth market for Newgen during the year witnessing 41% YoY growth, followed by EMEA, APAC, and US.

Given the current environment, the Company is focusing on SaaS/Cloud/Subscription based business model to provide digital transformation solutions to clients. The Company witnessed strong growth momentum in the subscription revenues (including ATS/AMC, SaaS and subscription license) which grew by 31% during the year to reach 32,273.50 lakhs.

Newgen provides mission critical solutions across key verticals. Banking and Financial Services vertical continued to be our largest vertical comprising 66% of the revenues during the year followed by Government/ PSU (9%), Insurance (8%), Healthcare (7%) and BPO/IT (3%).

Profits and Margins

The Company reported EBITDA (adjusted for other income) of 21,221.49 lakhs in FY23, as against 19,466.35 lakhs in FY22. It continues to make significant investments in Research & Development and Sales & Marketing initiatives. Profit after Tax stood at 17,626.53 lakhs in FY23, as against 16,421.47 lakhs in FY22.

Share Capital

During the financial year, the Authorized Share Capital of the Company remained unchanged. The issued, subscribed and paid-up equity share capital of the

Company, as on March 31, 2023 is 6,995.57 lakhs divided into 6,99,55,701 Equity shares of 10 each.

Other Equity

The total retained earnings as on March 31, 2023 was 74,820.74 lakhs. During the year, the Company earned net profit of 17,626.53 lakhs. Newgen has proposed a dividend of 5 per share.

Securities Premium account stood at 10,397.49 lakhs.

Others (Reserves) comprised Capital redemption reserve, General reserve, Capital reserve, Foreign currency translation reserve, Newgen ESOP Trust reserve, Share options outstanding reserve as well as items of other comprehensive income aggregated 5,492.34 lakhs.

Property, Plant & Equipment, Capital Work in Progress and Intangible Assets

As at March 31, 2023, property, plant and equipment stood at 16,476.35 lakhs against 16,272.39 lakhs as on March 31, 2022 largely on account of purchase of additional computers for normal business activities and setting up office premises. The Right-of-use assets stood at 6,376.74 lakhs as against 4,824.97 lakhs as on March 31, 2022 on account of addition of new leases.

The intangible assets of the Company are at 1,314.96 lakhs and goodwill is 283.31 lakhs on account of acquisition of Number Theory.


Investments comprise investments in unquoted bonds and liquid funds. The aggregate fair value of these investments is 13,138.80 lakhs.

Trade Receivables

The trade receivables (net of allowances) as on March 31, 2023 are 38,816.58 lakhs (allowances at 4,324.95 lakhs), against 27,887.83 lakhs (allowances at 3,559.82 lakhs) on March 31, 2022.

During the year, Debtor Days (net) stood at 145 days as compared to 131 days in FY22.

Other Financial Assets (Current)

Other Financial Assets ( 8,431.73 lakhs) largely comprise contract assets (net) pertaining to amounts recognized based on services performed in advance of billing in accordance with contract terms to the extent of 7,724.17 lakhs.

Cash and Cash Equivalents and Other Bank Balances

Cash and Cash Equivalents stood at 10,802.06 lakhs and Other bank balances stood at 10,032.82 lakhs as of March 31, 2023.

Current Liabilities

Current liabilities represent borrowings, trade payables, other financial liabilities, deferred income, short-term provisions and other current liabilities. As on March 31, 2023, the Current liabilities are 29,642.45 lakhs ( 23,880.01 lakhs as on March 31, 2022). Out of these, the deferred income comprises 16,803.94 lakhs.

Cash Flow

The net cash generated from operating activities were at 13,635.43 lakhs during the year ended March 31, 2023 compared to 14,277.28 lakhs during the year ended March 31, 2022 on account of increase in debtors and operating expenses.

Key Ratios

During the financial year, the Return on Average Net Worth was at 19.71% compared to 22.73% in the previous financial year. The Return on Average Capital Employed (adjusted) was at 20.42% compared to 23.59% in the previous year.

Opportunities and Threats

Given the rapid adoption of digital transformation journeys by the Companys current and prospective customer set, Newgen is likely to benefit from the business opportunities arising due to the emerging trend. Content management is at the core of digital transformation. With our strong product portfolio and investments in content management, process automation, customer communication with artificial intelligence cloud capabilities, the Company is well positioned to take advantage of the market opportunity. Relevance of Digital transformation initiatives have increased further in these uncertain times and the Company has strategized new offerings in this area of opportunities.

The various threats that the Company addresses include uncertain global economic conditions; changes in fiscal, economic or political conditions in India and the currency risks; increasing competition; changing technologies and regulatory changes in the industry the company operates in.

Risk Review

Uncertain environment and business continuity risk: Natural calamities, man-made disasters, wars etc. may lead to disruption to the business, demand environment, and customer service. The Company faces business continuity risk if the organization is unable to ensure continuity of its operations across clients, delivery locations, and enabling functions. As an organization, it is Newgens endeavor to continuously monitor, promptly and effectively respond to disruptive events in a complex and fast-changing global landscape.

Pandemic-related Risk: The Companys business could be impacted due to the ongoing but now waning Covid-19 pandemic, outbreak of new variants and other infectious diseases and the restrictions imposed globally from time to time. Prolonged lock-down situation could decrease the chances of winning of new business as well as result in the Companys inability to deploy onsite resources at different locations given the restrictions on movement and business execution. Moreover, there is a possibility that our customers might not be able to continue their businesses due to financial resource constraints or their services nolonger being availed by their customers. Customers could also postpone their discretionary spend due to change in priorities. There could also be time and cost overruns on projects. The pandemic may produce long-term consequences on mental and physical health leading to loss in productivity and emotional availability among employees. Newgen has been quick in adapting to the changing environment with its pre-emptive measures, business continuity processes and robust IT infrastructure. The Company has been operating on a hybrid work model. The Company has changed its practices and systems while ensuring data security and has also reinvented new ways of working across the organization. The Company has been successfully managing remote and cloud deployments. The Company is constantly evolving its systems and processes in order to respond quickly to manage the dynamic environment/circumstances.

Talent Management/Attrition Risk: The Companys business depends largely upon its highly skilled technology professionals and its ability to hire, attract, motivate, retain and train these personnel. Any inability to maintain a skilled and motivated team of professionals or supply chain disruptions can affect the business. As a Company, there is strong focus on nurturing the existing workforce and attracting new talent through Newgens various HR policies and initiatives. The Company also has a defined Employee Stock Options and Restricted Stock Units scheme.

Technology/Obsolescence, Cyber Security and Data Privacy Risk: Rapid technological advances, changing delivery models and evolving standards in computer software development and communications infrastructure, changing and increasingly sophisticated customer needs and frequent new product introductions and enhancements characterize the industry in which Newgen competes. Disruptive technologies such as Cloud, Big data, social and smart devices are changing the way business is done. With the ever-evolving technology landscape, there is continuous risk to the confidentiality, integrity and availability of data. The Companys success depends upon its ability to anticipate, design, develop, test, market, license and support new software products, services, and enhancements of current products and services on a

timely basis in response to both competitive threats and evolving industry requirements and ensuring cyber security. However, its continuous investments in R&D and intellectual properties help the Company mitigate this risk. The Company maintained focus on cyber security to guard against the risk of cyberattacks, data privacy breach and digital risks.

Market-specific and Economic Risk: The IT spends in any market are affected by the domestic as well as global economic conditions. Considerable or a prolonged slowdown in a particular country or a region or industry within a region severely affects the IT spends. Similarly, uncertain environment and policy changes in global markets may also influence IT spending pattern. The Company can also be impacted by intense competition in the market. To deal with such market-specific risks, the Company endeavors to de-risk the geographical dependence and expand its clientele across geographies continuously both in traditional and mature markets. From about 48 countries in FY13, the Company increased its presence across 74 countries in FY23 with 520+ active clients. To deal with policy challenges, the Company has been giving an emphasis on growing its regional presence and hiring local talent, without compromising on economies of scales and cost. To deal with environmental changes, the Company has adopted its business continuity plan.

Credit Risk: Customer credit risk is the risk of default by the customers. The Companys credit risk is managed according to the Companys established policy, procedures and controls relating to customer credit risk management. Credit quality of a customer is assessed and individual credit limits are defined in accordance with this assessment. Outstanding customer receivables are regularly monitored. An impairment analysis is performed at each reporting date.

Currency Risk: The Company derives about 70% of its revenues from international markets and thus is always exposed to unforeseen exchange rate fluctuations that can potentially impact the revenues and profits of the Company. To tackle this potential risk, the Company follows a well-defined hedging policy.

Acquisition-related Risks: As part of the inorganic growth strategy, the Company may acquire other Companies, businesses or products from time to time and the success of these acquisitions depends upon several factors. These include the effective integration of acquired employees with the rest of the Company and the optimum realization of synergies between acquired business and the Company. The Company will make all efforts to make all aspects of the integration smooth as and when acquisitions are made.

Our Strategies

Newgens strategies are based on addressing the market opportunities in enterprise platforms for ECM, BPM and CCM products and the low code and hyperautomation market, creating domain rich solution frameworks on the platform and using low code platform capabilities to create solution frameworks. These include:

Focus on increasing the Annuity/Subscription Revenue Streams

The Company has been focusing on increasing the share of its stable revenue streams which would help in reducing the seasonality in business. Currently annuity revenues comprise 61% of revenues. The subscription revenues were 32,273.50 lakhs and witnessed a growth of 31% during the year. These revenue streams ensure higher predictability of business. The Company is witnessing increasing acceptance for cloud deployments and subscription license across geographies - US, APAC, India, as well as EMEA region.

Expansion of business in traditional markets

The Company has a strong foothold in traditional markets of India, Middle East and Africa. The Company plans to get into deeper and long-term relationships with its customers in these markets through its differentiated land and expand model. The customers receive the complete set of modules and functionality of the platform with their initial purchase/subscription and can eventually build a number of applications on the platform due to an effective reduction in the peruser cost of each application and also save substantial costs of switching over to a new platform. Newgen plans to develop new customer relationships by identifying potential customers that operate within the same verticals and engage in cross-selling of solutions. It also aims to begin developing new verticals.

Focus on attractive verticals in select mature markets

The Company plans to expand its market share across key geographies and solutions. Its platform is designed to be natively multi-lingual to address challenges in multi-national organizations. Newgen has been operating in 74 countries and believes that it has a significant opportunity to grow its international footprint. It is investing in direct and indirect sales channels, professional services, customer support and channel partners to expand the geographical footprint. The Company has a regional go-to-market strategy with specific strategies for mature markets such as USA, Europe, Canada and Australia, as well as developing markets. Through its direct and indirect sales channels, it plans to further grow the brand presence and partner networks in these new markets. Newgen has a strong presence across regions in the

banking, financial services and insurance verticals and intends to continue to expand the customer base in these verticals in select mature markets. The Company is specifically targeting larger sized banking customers in the mature markets. Newgen is reorganizing its sales and marketing efforts and delivery operations to operate remotely and increase localization especially in mature markets. The Company is also developing the global system integrator (GSI) ecosystem for long-term engagements and relationship building with leading GSIs.

Continuous Innovation

Newgen plans to expand the product portfolio through investments in advanced features and technologies. It is constantly engaged in enhancement of R&D capabilities, particularly with a view to create solutions in emerging technologies that enhance the ability to develop tools for enabling entry into new areas and developing products that address customers in specific industries. Key focus areas include artificial intelligence/ machine learning, business intelligence and analytics, RPA, dev-ops and user experience. Newgen continues to work with customers in mature markets to build capabilities, both in domain and technology, for enhancing the product offering, strengthening the platform and expanding the number of features available to customers.

Expansion of strategic business applications to new verticals

The Company has used the platform to create vertical domain rich products in several verticals, including banking, government/PSU, BPO/IT, insurance and healthcare. While the platforms are industry-agnostic, investments have been made to enhance the expertise of sales and marketing for key industry verticals. Newgen believes that focusing on the digital transformation needs of organizations within these industry verticals can help drive adoption of the platform. It also plans to target new verticals.

Attract, develop and retain highly-skilled employees

The Companys employees are one ofits most important assets. It focuses on the quality and level of service that the employees deliver by investing in recruitment, development, retention, maintenance of a culture of innovation and by creating both a challenging and rewarding work environment. Newgens talent development strategy focuses on engaging, motivating and developing a high performing workforce and aims to create and sustain a positive workplace culture for employees. Safety of the employees is of utmost importance to the organization and the Company has rapidly moved to a remote working environment with high engagement levels with the employees.

Expansion through inorganic route

The Company may also explore, with extreme care, the inorganic route for expansion of product capabilities or market presence from time to time.

Internal Control Systems & their Adequacy

The Company has aligned its current systems of internal financial control with the requirement of Companies Act 2013. The explanation of the term Internal Financial Control has been provided only in the context of section 134(5)(e). It includes policies and procedures adopted by the Company for ensuring the orderly and efficient conduct of its business, thereby covering not only the controls pertaining to financial statements but also includes strategic and operational controls pervasive across the entire business.

Newgen internal controls are commensurate with its size and the nature of its operations. These have been designed to provide reasonable assurance with regard to recording and providing reliable financial and operational information, complying with applicable statutes, safeguarding assets from unauthorized use, executing transactions with proper authorization and ensuring compliance of corporate policies. In view of the above, and for safeguarding the assets of the Company, preventing and detecting fraud or other irregularities and maintaining proper books of account and to ensure adequate internal financial control, the Company is already pursuing various Standard Operating Procedures (SOPs), Vigil Mechanism and Audit Mechanism (through Internal Audit for Financial year 2022-23, Secretarial Audit and Statutory Audit). Newgen also undergoes periodic audit by specialized third party consultants and professionals for business specific compliances such as Quality Management, Information Security Management, among others. It has continued its efforts to align all its processes and controls with global best practices. Our management assessed the effectiveness of the Companys internal control over financial reporting as of March 31, 2023. Walker Chandiok & Co LLP, Chartered Accountants, the statutory auditors of Newgen have audited the financial statements included in this annual report and also reported on our internal control over financial reporting (as defined in section 143 of Companies Act 2013).

The Audit Committee review reports submitted by the management and audit reports submitted by PricewaterhouseCoopers ServicesLLP, internal auditors, and Walker Chandiok & Co LLP, statutory auditors. The audit committee also meets Newgens Statutory Auditors as well as Internal Auditors to ascertain, inter alia, their views on the adequacy of internal control systems and keeps the Board of Directors informed of its major observations periodically. Based on its

evaluation (as defined in section 177 of Companies Act 2013), the audit committee has concluded that, as of March 31, 2023, the internal financial controls were adequate and operating effectively.

Human Resources

The Company follows the philosophy of achieving mutually beneficial and all-inclusive growth and thus values its human resources as its biggest asset. The employees are provided a fair environment supported by transparent policies to foster their personal growth along with attainment of corporate objectives. It encourages all employees to strike a perfect worklife balance. The Companys policies are employee centric and aim at keeping its personnel motivated and satisfied. The Company has formed disciplinary policies and a code of due diligence to ensure smooth functioning of the business.

During the year, critical functions of the organization were strengthened to build a strong team aligned to the Companys fundamentals and culture. Particular emphasis was given on attracting, developing and retaining talent and fostering a unique performance culture. The HR function launched numerous initiatives to ensure a high-performing and engaged workforce.

As on March 31, 2023, on a consolidated basis, the Company had 3,867 personnel, including that of its subsidiaries. As a result of its visionary human resource policies, the Company has managed to attract and retain talent.


Building sustainable organizations would require enterprises to undertake digital transformationjourneys to address the evolving needs of their customers, employees, and partners while ensuring revenue growth, enabling new digital businesses, and reducing overall risk. Organizations have thus increased their focus on investments across front-end transformations and personalization of the customer experience, as well as at the back end, to operate seamlessly, simplify and digitize processes, reduce turnaround time for

customer service requests and enhance the end-to- end customer journey. Newgens endeavor is to provide transformative experience to its customers through the Companys cutting-edge enterprise solutions in order to change the way organizations work.

Newgen has been constantly investing in and evolving its product portfolio and is currently working on several new areas including Artificial intelligence, machine learning, low-code, Robotic Process Automation. Newgen is pursuing its long-term growth strategies to expand its market share across key geographies and solutions. The Company believes that focusing on the digital transformation needs of organizations within key industry verticals can help drive adoption of its platform. It continues to invest in direct and indirect sales channels, professional services, customer support and channel partners and global system integrator relationships to expand its geographical footprint. To address the market opportunities arising from digitization, it also constantly invests in hiring, training and upskilling of its employees on a regular basis. It continues to work on strengthening its management team to meet the growing business needs.

Newgen remains vigilant and agile to evolve its approach in changing dynamics while continuing to work towards creating significant value for all its stakeholders moving forward.

Cautionary Statement

Managements discussion and analysis of the financial condition and results of operations include forwardlooking statements based on certain assumptions and expectations of future events. The Company cannot assure that these assumptions and expectations are accurate. Although the Management has considered future risks as part of the discussions, future uncertainties are not limited to Management perceptions.

Please note that all figures used are Consolidated Figures in lakhs

Content Services Platform - Gartner Forecast Analysis: Enterprise Application Software, Worldwide :Published: Aug 2022 : Authors: Amarendra, Yanna Dharmasthira, Jim Hare, Balaji Abbabatulla, Eric Hunter, Kevin Quinn, Julian Poulter, Roland Johnson, Alexandre Oddos, Chris Pang, Alys Woodward, Radu Miclaus, Craig Roth, Neha Gupta

Business Process Automation - Gartner Forecast Analysis: Low-Code Development Technologies, Worldwide: Published: Oct 2022 : Authors: Varsha Mehta, Fabrizio Biscotti, Paul Vincent, Jason Wong, Keith Guttridge, Oleksandr Matvitskyy

Process-Agnostic Software That Enables Hyperautomation - Gartner Forecast Analysis: Hyperautomation Enablement Software, Worldwide : Published: Oct 2022 : Authors: Cathy Tornbohm, Varsha Mehta, Tarun Rohilla, Anna Griffen