Newgen Software Strengths, Domain Expertise, and Key Differentiators
Newgen Software is a provider of Business Process Management (BPM), Enterprise Content Management (ECM), Customer Communication Management (CCM), and Case Management solutions with a global footprint of 1300+ installations in over 61 countries. Newgen is accredited with a large, mission-critical solution, deployed at the world's leading banks, insurance firms, BPOs, healthcare organizations, government, telecom companies, and shared service centers. Newgen products can be deployed on-premises, as a SaaS offering in a public or private cloud, or a hybrid installation. Newgen uses AWS, Microsoft Azure, and HP Cloud Maps to deliver solutions for industries, and some cloud solutions for small and midsize businesses (SMBs).
Newgen Software Recent Developments
In May 2023, Newgen Software introduced OmniXtract 4.0 as part of the NewgenONE platform. This advanced intelligent document extraction software incorporates AI/ML capabilities, enhancing extraction accuracy and adopting an improved extraction engine with a microservices-based architecture. Varun Goswami, VP of Product Management at Newgen Software, highlights the importance of automating document-centric processes to streamline operations and enhance efficiency, especially in the face of increasing document volumes. Key features include AI/ML-based extraction, a Collaborative Definition Studio for template creation, real-time system monitoring, and access control with roles and rights management. NewgenONE OmniXtract accommodates extraction from various document channels and formats, including PDFs, Tiff, Word, Excel, and RTF, ensuring precise data extraction for subsequent processing.
In September 2023, Newgen Software is proud to announce its accounts payable solution's recognition in Gartner's "Market Guide for Accounts Payable Invoice Automation 2023 Report." The solution, operating on the low code platform NewgenONE, ensures precise cash and working capital management through end-to-end automation. With features like predictive intelligence and user-vendor collaboration, it significantly enhances accounting team efficiency. VP of Marketing, Runki Goswami, emphasizes Newgen's commitment to cutting-edge solutions, leveraging over 30 years of invoice processing experience as a launch pad for business strategies. Explore the Market Guide for detailed insights.
In April 2022, Newgen Software unveiled Enterprise Mobility Framework 5.0, introducing advanced features for secure mobile app development. Equipped with enhanced UI design, OCR extraction, notification, and device license management, the latest version enables organizations to streamline the creation and management of enterprise mobile apps. Virender Jeet, CEO of Newgen Software, highlights the platform's ability to move beyond traditional mobile apps and transactional processes, fostering streamlined, collaborative, and customer-centric operations. Key enhancements include new UI templates, upgraded notification management, seamless data synchronization, improved OCR capabilities, and enhanced document support for efficient day-to-day activities.
In October 2021, Newgen Software introduced iBPS V 5.0 SP2, an upgraded version of its well-regarded low-code process automation platform. This iteration, iBPS 5.0, enables enterprises to automate existing business processes through a low-code development methodology. Its features include rapid form composition for information capture, implementation of complex decision rules and routing through process steps and workflows, a robust business rules engine, and seamless integrations with third-party enterprise applications for efficient data exchange.
In January 2020, Newgen Software introduced OmniOMS 8.6—an upgraded version of its customer communication management (CCM) suite. This latest iteration empowers users to effortlessly create, design, and manage HTML email communications.
Newgen Software Mergers and acquisitions (M&A) Activities
In January 2022, Newgen Software acquired Number Theory, an AI/ML data science platform, to enrich its NewgenONE platform with advanced AI/ML capabilities. The move aligns with Newgen's commitment to democratize AI/ML and simplify complex projects, catering to enterprises of all sizes. The acquisition aims to empower both citizen and expert data scientists through Number Theory's AI Studio, fostering collaboration in a low-code, cloud-based environment. The joint venture positions Newgen for enhanced competitiveness in the dynamic digital transformation landscape.
In June 2021, shares sold by the promoters of Newgen Software Technologies were acquired by investors, including Abu Dhabi Investment Authority (ADIA), White Oak Capital, and others. Chairman and managing director Diwakar Nigam and whole-time director T S Varadarajan collectively divested a 10.57% equity stake. Additionally, funds managed by Societe Generale and Morgan Stanley Asia Singapore acquired stakes worth Rs 10 crore each. The promoters were advised by ICICI Securities Limited and Jefferies India Private Limited. Following the transaction, the promoters retain a 55.16% stake in the total paid-up equity share capital of the company.
Newgen Software Customers in ARTW Customer Database
Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying Newgen Software applications and why? And we provide the answers – supported by decades of research – to our clients around the world. Our Customer database has over 100 data fields that detail company usage of Newgen Software and other enterprise apps by function, customer size, industry, location, implementation status, partner involvement, Line of Business Key Stakeholders and IT decision makers contact details. List of Verified The comprehensive suite of solutions provided by Newgen encompasses Newgen OmniFlow iBPS, OmniDocs ECM, OmniOMS CCM, Newgen OmniAcquire, Newgen Enterprise Mobility Framework, Newgen OmniReports ERM, and the Newgen Invoice Processing System, in addition to the Cheque Truncation System. customers.
Newgen Software Overview
Ownership: - NEWGEN (NSE)
Number of Employees: 3876
Functional Market: Sourcing, Onboarding, Performance Management,
Key Verticals: Banking and Financial Services, Consumer Packaged Goods, Distribution, Federal Government, State and Local Government, Public Safety, Healthcare, Life Insurance, P&C Insurance, Specialty Insurance, Life Sciences, Professional Services, Retail,
Newgen Software Key Cloud and HCM Applications
The comprehensive suite of solutions provided by Newgen encompasses Newgen OmniFlow iBPS, OmniDocs ECM, OmniOMS CCM, Newgen OmniAcquire, Newgen Enterprise Mobility Framework, Newgen OmniReports ERM, and the Newgen Invoice Processing System, in addition to the Cheque Truncation System.
Newgen Software HCM and Cloud HCM Applications Revenues, $M:
| Type/Year | 2022 | 2023 | YoY Growth, % |
|---|---|---|---|
| Total Revenues, $M | Subscribe | Subscribe | Subscribe |
| HCM Applications Revenues, $M | Subscribe | Subscribe | Subscribe |
* HCM Applications Revenues = License + Support & Maintenance + SaaS ( Hardware and Prof. Services are Excluded )
** All revenue figures are estimates based on public records, Cloud and Non-Cloud business models in Apps Run The World's vendor database, and annual survey results including vendor feedback.
Newgen Software Revenue Breakdown by Type:
Newgen Software HCM Applications Revenues By Sub-Functional Markets, $M:
Split by Sub-Functional Markets | % of HCM Revenue in the HR Segment | 2023 HCM Revenues, By HR Segment, $M | |
Newgen Software HCM Applications Revenues By Verticals, $M:
Newgen Software Total and HCM Applications Revenues by Region:
| Region | % of Total Revenues | 2023 Total Revenues, $M | 2023 HCM Applications Revenues, $M |
|---|---|---|---|
| Americas | Subscribe | Subscribe | Subscribe |
| EMEA | Subscribe | Subscribe | Subscribe |
| APAC | Subscribe | Subscribe | Subscribe |
| Total | Subscribe | Subscribe | Subscribe |
Newgen Software Direct vs Indirect sales
| Region | Direct Sales | Indirect Sales | Total |
|---|---|---|---|
| Type % | Subscribe | Subscribe | Subscribe |
| Revenues, $M | Subscribe | Subscribe | Subscribe |
Newgen Software Customers - Breakdown by Geo, Size, Vertical and Product
List of Verified Newgen Software Customers
No. of Newgen Software Customers: 550+
No. of Newgen Software HCM Applications Customers: x
No. of Newgen Software Cloud HCM Customers: x
No. of Newgen Software Cloud HCM Subscribers: x
With over 540 customers, Newgen Software commands a notable presence in the market. Among its marquee clients are distinguished institutions such as Citi Bank, First Caribbean International Bank (FCIB), NCB Jamaica, Ingram Micro, Wellcare, Metlife, Coca-Cola, Astra Zeneca, Praxair, Caterpillar, HCL, ICICI Bank, Abu Dhabi Commercial Bank, Bank Dhofar, Axis Bank, Max Bupa Health Insurance, L&T Financial Services, and Liberty Insurance.
Newgen Software Market Opportunities, M&A and Geo Expansions
In October 2021, Newgen Software introduced OmniDocs Mobile 11.0, an upgraded version of its mobile app. This latest release incorporates advanced image processing capabilities, enabling optimized capture and compression. Users benefit from the ability to capture high-quality images within optimal size parameters, efficiently managing disk space utilization. Additionally, the software utilizes the latest OS features, enhancing operational efficiency, usability, and the overall user experience. OmniDocs Mobile 11.0 is designed to seamlessly function on the latest Android and iOS platforms, emphasizing its commitment to staying technologically current.
Newgen Software Risks and Challenges
Despite the good sales growth in India and the Middle East, Newgen's marketing execution is relatively weak.
Newgen Software Ecosystem, Partners, Resellers and SI
In September 2021, Newgen Software unveiled a strategic partnership with Tata Consultancy Services (TCS) to implement an enterprise-wide content repository and an extensive multi-channel, multi-lingual communication suite for the Banking Service Bureau (BSB) in Israel.
Newgen Software Cloud Platform (PaaS) and Infrastructure (IaaS) Details
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- Newgen Software Public Cloud and Infrastructure (IaaS)
- Newgen Software Platform (PaaS)
- Newgen Software Application Delivery
- Newgen Software Private Cloud and Data Centers
Research Methodology
Data used in research reports are derived from publicly available documents, continuous surveys of applications vendors, customers, resellers, Independent Software Vendors, systems integrators and other verifiable sources.
Vendor shares and market forecast results are based on a combination of existing databases as well as demand side and supply side research conducted throughout the year with validation from vendors, customers, channel partners and documentations such as earnings releases and 10Q and 10K filings, vertical industry studies, regional and country-level statistics from public and private institutions(i.e. colleges, universities, government agencies and trade associations).
For additional information on our methodologies, here's the link:
https://www.appsruntheworld.com/taxonomy
https://www.appsruntheworld.com/FAQ
