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During the recent months, Newgen Software has emerged as the
market leader in the CTS space. Out of the 25 banks in the National
Capital Region that have finalized their CTS vendors, 12 have chosen Newgen
Software for its CTS solution. Some of the banks that have placed orders
are Bank of America, Bank of Nova Scotia, ABN Amro, Kotak Mahindra Bank,
among several others.
Newgen
Software also forayed in UAE and Africa with its CTS solution. In UAE,
the solution is being implemented in a number of large banks such as
United Arab Bank, RAKBANK, Abu Dhabi Commercial Bank, Standard Charted
Bank and Bank Al Jazira.
In
September, Newgen Software received an order from Mashreq Bank, the
largest private bank in UAE. The CTS solution from Newgen Software will
be deployed at nearly 50 branches of the bank in UAE.
Newgen
Software organized a Cheque Truncation seminar in Malaysia. The event was
attended by top executives from leading banks in Malaysia. The central
bank in Malaysia has decided to introduce Cheque Truncation System (CTS)
by 2008 (see pictures).
Also,
in September, Newgen Software was able to strike a prestigious BPM deal
in USA with a world leader in business reporting and financial news publishing
who opted for Newgen’s BPM suite of products. For Newgen Software, it is
the largest BPM order from USA.
Newgen
Software bagged a significant order from a leading US mortgage firm
through iFlex BPO (Equinox), marking an entry into this growing market.
Newgen
Software participated in NASSCOM’s joint initiative with Business
Processing Association of the Philippines (BPAP). India and the
Philippines, two of the biggest outsourcing destinations in the world,
have decided to work closely for outsourced opportunities (see pictures).
For more details, read on…
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Newgen
Software Organizes CTS Seminar in Malaysia
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Mashreq Bank to Implement CTS
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Newgen Software Wins
Prestigious BPM Contract from USA
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Newgen
Software Forays into Mortgage Processing in US
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Recent
Press Releases
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About Newgen
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CTS Seminar
in Malaysia
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Newgen Software Organizes CTS Seminar in Malaysia
The
central bank in Malaysia, Bank Negara Malaysia, has decided to introduce
Cheque Truncation System (CTS) by 2008. Newgen Software organized a seminar
in Kuala Lumpur to demonstrate its CTS solution to leading banks in
Malaysia. The event was attended by a large number of top executives, and
decision makers, from the banking industry and government.
The
highlight of the seminar was a session titled, A Banker’s Perspective, by
Mr. Rajesh Sanal, VP Operations, Deutsche Bank, Singapore. Having
spearheaded the Cheque Truncation implementation at Deutsche Bank in
Singapore and Hong Kong, he shared his insights about how to choose the
right solution, possible bottlenecks and pitfalls, and change management
issues to be dealt when implementing a Cheque Truncations solution.
Mr.
Punit Jain, VP Sales and Marketing, introduced Newgen CTS as a highly
scalable and robust solution for banks of various sizes. The CTS solution
enables faster cheque clearance, thus facilitating quick reconciliation.
Newgen’s CTS solution has BPM-enabled capabilities, which helps banks to
streamline their processes and make better business decisions.
Apart
from work distribution, control, tracking within given timelines and integration
with other banking applications, the BPM platform enables banks to gain the
advantage of a single application seamlessly integrated with various
applications, thus ensuring a unified user experience for the whole
process.
Some of
the leading banks that participated in the seminar included ABN AMRO Bank
Berhad, Bumiputra-Commerce Bank Berhad/ CIMB, Citibank Berhad F, Malayan
Banking Berhad L, OCBC Bank, Public Bank Berhad L, Standard Chartered Bank,
and several other banks in Malaysia.
Mr. Punit Jain, VP Sales &
Marketing, hosting a session at the seminar
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Mashreq
Bank to Implement CTS
The Cheque
Truncation System (CTS) solution from Newgen Software continues to dominate
the UAE market. Newgen Software won the order from Mashreq Bank – the
largest private bank in UAE.
The
solution would be deployed at nearly 50 branches of the bank in the UAE.
ChequeFlow Enterprise would be installed at the bank’s Head Office (Service
branch) and ChequeFlow Lite at the other branches, spread throughout the
UAE. Also, CTS would be integrated with the bank’s core-banking system,
BankSys.
Apart
from the regular electronic cheque clearing, the solution would
electronically archive and store Post Dated Cheques (PDCs) for quick
retrieval at a later date. The solution would help the bank serve its
customers more efficiently by drastically cutting down on cheque-processing
time and minimizing costs.
Mashreq
Bank has unparalleled brand equity in the intensely competitive UAE market,
created by continually offering innovative products and services. The bank
has the largest customer base in UAE and offers wide range of products and
services such as Credit Cards, Consumer Lending, Trade Finance, Project
Finance, Electronic Funds Transfer at Point-of-Sales, Automated Teller
Machines, Call Center, Treasury, Correspondent Banking, Online Banking and
GSM banking.
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World Leader in Business Reporting
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Newgen
Software Wins Prestigious BPM Contract from USA
In a
strategic move in the outsourcing space, Newgen Software was able to strike
a prestigious BPM deal. A highly reputed Business Reporting and Financial
News publishing organization opted for Newgen’s BPM suite of products.
For
Newgen Software, it is the largest BPM order from USA. The first phase of
implementation will include the following processes:
o
Accounts Payable
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Accounts Receivable
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T&E Processing
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Contracts Management
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Collections Processes
This
order is to be executed along with IBM BTO, with Newgen Software being the
primary BPM consultant. Interestingly, IBM BTO recommended Newgen’s BPM
suite despite having competitive products.
The
project will be executed for the US as well as Europe operations of the
customer.
With
this prestigious order, Newgen Software has reaffirmed its position amongst
the most-respected BPM vendors. However, for Newgen Software this is the
just the beginning of its expansion into the US market.
The
customer’s organization was established more than a century ago. With 7000
employees worldwide, it has strategic operations in the areas of business
reporting, financial news and analysis and media operations.
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Leading US
Mortgage Firm
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Newgen
Software Forays into Mortgage Processing in US
Newgen
Software bagged a significant order from a leading US mortgage firm through
iFlex BPO (Equinox), marking an entry into this fast-growing market.
The
deal involves development of workflow processes for Borrower Authorization,
Credit Authorization and Collateral Review on OmniFlow framework with a
tight integration with Loan Processing solutions and back-end core
application for seamless mortgage processing for the corporation. For the
first time, such a model has been worked out in the outsourced mortgage
vertical. Newgen Software won the order despite stiff competition from
other leading international BPM vendors.
The
deal was a result of high-level relationship selling and confidence
building exercise through a joint initiative with iFlex BPO team. This is a
true example of a symbiotic partnership amongst the three parties in
creating an integrated and future-ready platform for mortgage processing
vertical in the US outsourcing space.
With
its comprehensive suite of BPM products, Newgen Software is all set to make
a mark in the US market.
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Newgen
Software Joins NASSCOM Delegation to Philippines
India
and the Philippines, two of the biggest outsourcing destinations in the
world have decided to work closely for outsourced opportunities. Towards
this end, a joint initiative between National Association of Software and
Service Companies (NASSCOM) and Business Processing Association of the
Philippines (BPAP) was signed recently.
Newgen
Software representatives were part of the prestigious NASSCOM delegation
led by NASSCOM president, Mr. Kiran Karnik to Philippines. The delegation
had members from various leading Indian BPO firms such as ICICI One Source
and leading solution providers for the BPOs like Newgen Software.
The two
sides agreed to focus on seven strategic areas:
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Collaborating and cooperating
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Adhering to international standards and sharing
best practices
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Mitigating geographic risk
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Ensuring data security and privacy
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Pursuing strategic communications
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Developing workforce
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Improving infrastructure
NASSCOM-BPAP delegation with the Philippines
President, Gloria Macapagal Arroyo
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NEWS Week
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“Work Hard
Party Harder”
A
complete fun-filled week of activities and competitions left Newgenites
relaxed and satiated. The bonding, a great deal of teamwork and skillful
organization by Newgen Employees Welfare Society (NEWS) members, made the festival
a huge success.
While,
events like Antakshiri, Just A Minute (JAM), Dumb Charade, Sur Besur, Hindi
and English quiz saw active participation, "RANGOLI" brought
together the creative and artistic minds (see pictures.)
Newgen’s
very own Osama Bin Laden, Amitabh Bachchan and Lalu Prasad Yadav in “Meet
the Press” event handled all queries from the crowd with tact and humor.
Newgenites cast away all inhibitions and let their faces be painted in
various hues and ingenious designs for the “Paint the face” event (see
pictures.)
The
NEWS Week culminated with a grand bash – the NEWS Party to welcome the
freshers.
  
  
Click on the
thumbnail to view larger image
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Recent Press Releases:
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Newgen's solution for M.P. transport dept.
The Madhya Pradesh
Transport Department (MPTD) has, with the help of Newgen Software
Technologies, automated its business workflow processes. The project,
which was implemented on a pilot basis in Bhopal, is to be replicated
across its 45 road transport offices in the State.
The Hindu Business Line, September 26, 2006
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RBI fiat to banks opens biz window for vendors
The Reserve Bank of
India's mandate to banks in Delhi to implement cheque truncation systems
(CTS) by December has them rushing to software vendors. Out of the 25
projects, Newgen software has bagged 12 amidst competition from the likes
of NCR and Unisys.
The Hindu Business Line, September 25, 2006
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NEWGEN among top 200 Asian tech firms : Red Herring
Newgen Software
Technologies Ltd, a provider of BPM, document management and imaging, has
been declared as one of the top 200 technology companies in Asia by the
Red Herring Companies Survey.
EFYTimes.com,
September 18, 2006
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About
Newgen
Newgen Software Technologies
Limited, a leader in the space of Business Process Management (BPM), Document
Management (DM), Workflow and Imaging, is amongst the top 10 Software Product
Companies in India.
NEWGEN bagged the prestigious
“Distinguished Application Product Company” award at the Product Summit 2005
hosted by National Association of Software and Service Companies (NASSCOM)
and Indian Institute of Management Bangalore (IIMB).
NEWGEN started in 1992 is
headquartered in New Delhi. It has four software development centers - three
in New Delhi and one in Chennai, and five regional Sales and Support offices
in India. NEWGEN also has a wholly owned subsidiary Newgen Software Inc. in
USA located in McLean, Virginia.
NEWGEN has to its credit over 700
customer installations worldwide with representation in over 20 countries
across the globe. NEWGEN enterprise software solutions allow customers to
build and sustain competitive advantage by managing content throughout their
organization, automating and streamlining their business processes, and
simplifying their critical and everyday decision-making.
The company caters to customers in
India and overseas in diverse areas like Banking & Financial Services,
Insurance, Telecom, BPOs/Shared Service Centres, Manufacturing, Government
and Airlines.
NEWGEN employs more than 650
people. The company has more than 3,500 ‘man years’ of experience, with over
US $25-million investment in developing software products for Business
Process Management (BPM).
NEWGEN product suite comprising of
OmniFlow, OmniDocs, OmniReports, OmniCapture and OmniExtract is one of the
most comprehensive, flexible and scalable product suites in the area of BPM.
SmartStatements, ChequeFlow and Compliance Manager are the state-of-the-art
solutions developed by NEWGEN on the Newgen BPM platform.
NEWGEN is an ISO 9001:2000 and CMM
level 4 company.
Website:
www.newgensoft.com
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