New Delhi-based Newgen Software Technologies, which is into software products, is looking to expand its geographical and business footprint in the coming years. The company has recently got listed on the exchanges earlier this year was conceived in the early 1990s and has presence in over 60 plus countries. In an email interaction with Telangana Today, Newgen Software CMD Diwakar Nigam outlines the company’s plans ahead to Sruti Venugopal
Q: Journey of Newgen in the last two decades?
A: Innovation is at the heart of whatever we do at Newgen. As a software product company, our focus is to provide enterprise-wide, mission-critical solutions to facilitate organisations in driving digital transformation and competitive differentiation. We help organizations reinvent themselves through our proven platforms – Business Process Management (BPM), Enterprise Content Management (ECM) and Customer Communication Management (CCM).
We are continuously expanding our product portfolio by laying strong emphasis on disruptive technologies like Digital Sensing, Robotic Process Automation, Enterprise Mobility, Analytics, and Cloud. Our vision of a paperless office has driven Newgen’s products and created wide-ranging impact over the years. We have grown to become a global brand with a presence in 60+ countries with a strong presence in the US, EMEA, and APAC. We already have offices in India, UK, USA, Dubai, Singapore, and Canada. We have recently entered the Australian market and are witnessing traction in this region. This year we have released new and enhanced versions of our ECM, BPM and CCM platforms and are also scaling Cloud/ SaaS offerings by increasing penetration and strengthening our platforms to meet all compliance/regulatory requirements.
Q: Any new government orders in pipeline?
A: With India being on the cusp of becoming a ‘Digital Nation’, we help government agencies at state and national level to seamlessly run their citizen-centric digital governance services by providing ready-made solutions for e-governance such as e-VidhanSabha, e-Courts, e-Municipality, Smart City, Direct Benefit Transfer (DBT) etc. In June 2018, we received a work order of Rs 63.9 crore for Document Management System and digitization project of the records of District and Subordinate Courts in the State of Maharashtra. We are looking forward to more business from the Government in the future. Our solutions can enable responsive and futuristic governance by helping Government agencies, in India and across the world, to move services to digital platform and leverage resources to the maximum.
Q: After getting listed, what are the plans ahead?
A: In the last five years, we have seen a top-line growth of about 20 per cent year-on-year and expect to continue the growth momentum. We are also looking to expand our business and geographical footprint. We are targeting attractive verticals in select mature markets including the US and UK and expanding our Strategic Business Applications to New Vertical. R&D is another key area of investment for us which comprised approximately 7 per cent of our revenues last year. We continue to expand our Product Portfolio through continued R&D Investments.
Q: Presence in Hyderabad and future investments?
A: We have a strong presence in South India with offices in Hyderabad and Bangalore as well as development center and office in Chennai. We are seeing traction in verticals like government and pharmaceutical. We have few existing clients based out of this region. We will continue to make investments in strengthening our R&D and Sales & Marketing efforts. In addition, our IPO proceeds would be utilised for setting up office space in Greater Noida.
Q: Sectors Newgen operates in?
A: Our vertical focus is primarily on Banking, Insurance, Government/PSU, Healthcare, and Shared Services/BPO. We possess multi-vertical industry expertise with solutions in 17 different verticals. In the first quarter of this financial year, our banking vertical comprised 51 per cent of revenues, government/ PSU comprised 13 per cent and healthcare comprised 9 per cent of revenues. In Q1FY19, our cloud revenues grew by 157 per cent year-on-year though on a smaller base and contributed 5 per cent to the total revenue from operations. We expect growth in our core verticals to remain strong in future as well.