Trends and Profile NEWS
Diwakar Nigam, Managing Director and CEO– Newgen Software Technologies Ltd
By Elizabeth Haggar for CEOWORLD Magazine Updated:March 11, 2010
Get CEOWORLD Magazine digital monthly version. special- Top Capital Cities for a business Traveler, # Interview with Minister of Tourism of Greece. 1 Issues Subscription= $1 Only, 10 Issues Subscription= $5 Only. Grab your copy now!!!!
In 1992, Mr. Diwakar Nigam started Newgen with the vision of “One World, One Workplace”. The vision has now become a reality with Newgen enabling companies to be able to work from anywhere, across the world, and by having 750 installations across 35 countries throughout the world.
Mr. Nigam is an entrepreneur with over 30 years of experience. He is a founder member of NASSCOM, and a member of its anti-piracy group. Mr. Nigam was recently featured on CNBC TV 18’s Emerging India 2008 as a leading entrepreneur.
While starting out in 1992, Mr. Nigam could envisage the need for Imaging-based Process Automation and Management solutions. At that time, the processing power was limited, memory was costly, but he rightly anticipated that it was bound to grow with time and be affordable, and one would eventually be able to support DMS and Imaging capabilities through a software. Therefore, he invested in building robust Imaging capabilities to act as a solid foundation for our Document Management Software (DMS) and Business Process Management (BPM) software products and solutions.
Mr. Nigam had a firm belief that BPM will be the next great wave after ERP, and that every organization will have to essentially adopt BPM in order to sustain and thrive in the dynamic business environment. What ERP does to manufacturing sector, BPM does to the operations in the services sector. It streamlines processes, increases workers productivity and provides real-time visibility and control of the business processes. Newgen was ready with relevant products and solutions as early as 1998, and had major successful installation by 1999. However, this coincided with the Y2K phenomenon and the dotcom era. This resulted in BPM being pushed back on the organizations’ priority list – process efficiency went into backburner. By 2002, BPM again came into reckoning and gained attention of the leading organizations across the verticals. The BPM wave was well and truly on by the year 2003.
A key imperative for Newgen was to establish its credibility and prove its longevity in the marketplace to convince customers that Newgen was there for the long term. Companies investing in enterprise-level products are always fearful of the risks involved and tend to pick vendors that appear financially robust, with a strong customer base and considerable experience.
In the Indian market, during the start-up phase, one of the key challenges encountered by the Newgen Software was the lack of awareness about the products that we offered. Newgen Software not only spread the cause but also spelt out what its products and services meant. Internationally, too, the company initially faced big hurdles, as it met fierce competition from large competitors having an established strong presence in the market. However, a consistent focus on offering high quality products and services – that went beyond implementation, at acceptable price points to multinational corporations in the developing markets, and replicating these successes in the developed markets – helped Newgen Software overcome these challenges and made it a partner of choice for the leading companies worldwide.
Creating unique products is also a tough call. While price could be one of the differentiators, companies have to focus on the features as well. At the same time, companies have to evolve a business model where they kept adding new components to their offering to provide continuous value to the customer and generate fresh revenue streams for themselves. Thus, it is essential to build add-on capability into the products.
Initially, it was very difficult to sell products in the foreign markets. The mindset of foreign customers regarding Indian software product companies was a huge challenge to overcome. Therefore, initial few years were more focused on changing the mindsets by offering best-of-breed products. The perseverance of Mr. Nigam as an individual and Newgen Software as a company has paid rich dividends with Newgen Software scaling new heights and entering new territories and successfully challenging much bigger competitors on heir own turfs.
Right from its incorporation, Newgen Software Technologies chose to be a company with a difference. Newgen started selling software products at a time when other Indian IT majors were focused on selling their IT services. Our focused approach towards providing an end-to-end BPM & ECM solutions and sticking in verticals like BFSI, Telecom, Manufacturing BPO and SSC enabled us to compete with the global giants like IBM ,Microsoft ,Oracle, etc. Today, Newgen is a leader in these segments in Europe, Middle East, Africa and India.
As its first major success, Newgen helped Citibank (1996) create a global hub for back-office processing (e-Serve). It started with few processes and extended to more than 500 processes on Newgen’s workflow platform. Hence, Newgen had developed the domain and technical expertise for automation of BPO much before the outsourcing boom arrived .Today, Newgen BPM platform is a preferred choice for the leading BPO’s , with 18 out-of-top non-voice BPO’s operating on Newgen BPM solution.
Today, Mr. Nigam has established Newgen as a leader in the field of Business Process Management and Enterprise Content Management, in India, Middle East, Africa and other countries in APAC. We have installations in 35 countries, where our products are being used for mission critical operations in Banks, Insurance companies and Telecom operators. Mr. Nigam has plans to expand Newgen to 100 countries in the near future.
Today Newgen is an organization of over 1000 people. A core team of highly skilled professionals has been with the company since its formative years. The top management team representing HR , Product Development , Implementation ,Marketing & Sales has to its credit many achievements including development of innovative products, filing of technology patents, deployment of large-scale and mission-critical solutions, domain expertise and building a global blue-chip customer base.
Newgen is recognized by distinguished analyst firms like Gartner in its report “Magic Quadrant for Business Process Management Suites, 2009” and IDC in its exclusive report “Newgen Software: Global Leader in Business Process Management and Document Management Solutions.”
In recent years Newgen Software Technologies has been focusing on building its brand internationally and Analysts around the world have acclaimed us. Frost & Sullivan recognizes Newgen Software as a ‘Hot Company to Watch for’ in the ECM Market, 2009. Gartner included Newgen Software as a sample vendor in the Hype Cycle for Business Process Management in 2009. It is a remarkable fact that in the Hype Cycle’s BPMS for the BPO category, 5 out of 11 vendors listed, use the Newgen platform for their suites.
Also very recently, Newgen Software is positioned as a niche player in the Magic Quadrant for Enterprise Content Management (ECM), 2009. In 2010, Newgen emerged out as the Red Herring Global top 100 winner.
Newgen implementations have won various awards and nominations. Newgen implementation at Fullerton India had won Gold Award at the 15th Global Awards for Excellence in BPM and Workflow 2009. Newgen BPM implementation at MNYL was among the finalists at the Gartner BPM awards 2009.
Newgen is also the winner of prestigious awards, such as CNBC-TV18 & ICICI Bank “Emerging India Award 2008”, Frost and Sullivan’s “Market Leadership Award for Document Management System and Workflow Software & Services” and “Distinguished Application Product Company” by NASSCOM. Newgen has also received the Red Herring Global 100 award, 2009.
Mr. Nigam is an entrepreneur with over 30 years of experience. He is a founder member of NASSCOM, and a member of its anti-piracy group. Mr. Nigam was recently featured on CNBC TV 18’s Emerging India 2008 as a leading entrepreneur.
CEOWORLD HIGHLIGHTS:
Xythos Software, a leading developer of document management and collaboration software, today ...
Kofax plc (LSE: KFX), the leading provider of Intelligent Capture & Exchange solutions, toda ...
Arkeia Software, a leading provider of innovative data protection software, today announced the ...
In a move to prepare for national and international expansion in 2009, Wi5Connect, a pioneer in ...
OnviSource, Inc. announced today the rollout of OnviCenter 6, a next-generation contact center ...
Like this article! |
|
|
|
|
(+1 rating, 1 votes)
Loading ...17524 views
View Comments
Submit News & Press Release for Free!
