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NEWGEN
solution goes live at Bajaj Allianz Life Insurance Company
NEWGEN recently
implemented its Workflow solution at Bajaj Allianz Life Insurance Company
(BALIC), Pune. To begin with, the NEWGEN solution has automated the New
Business process at BALIC. The whole process starting from scanning the
application form, to the issuance of the new policy, is now handled much
more efficiently. The earlier process used was manual, semi centralized and
highly time consuming.
For the
current solution, BALIC has set up a 200 seat Central Processing Unit
(CPU), in Pune for centralizing the activity. This CPU acts as the
‘back-end’ processing center. The Customer Application Forms (CAFs) are
received at various locations, currently at 105 branches, across the
country. These CAFs are scanned locally at the branches, and scanned images
uploaded during night, when the network traffic is low, to the CPU. The
processing of these CAFs starts the very next day.
The
earlier solution involved high turnaround time for issuance of new
policies, as the process was mostly decentralized. The NEWGEN solution
stands to provide a range of benefits, which includes improved turnaround
time to a mere 2 days from an earlier time of 7 days, better control on
business, and quickly finding and rectifying the bottlenecks in the system.
The solution
comprises of OmniFlow, OmniDocs, OmniCapture and Record Management System
(RMS).
After
the current implementation of the New Business process, BALIC also plans to
automate the Claims Processing process. This will be followed by automating
the Policy Owner Servicing (POS) process.
Bajaj
Allianz Life Insurance Co. Ltd. (BALIC) is a joint venture between Bajaj
Auto Ltd., India's leading 2 & 3 wheeler manufacturer and Allianz AG,
one of the world's largest general Insurance company. Bajaj Allianz is
headquartered at Pune, and it is the fastest growing private life insurance
company in India.
BALIC
has over 4,40,000 satisfied customers. It has a presence in more than 500
locations with 60,000 Insurance Consultants providing the finest customer
service.
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NEWGEN
to automate key processes at Bank Of Baroda
Bank of
Baroda (BoB) selected NEWGEN Omniflow Suite for automating its Retail and
Trade Finance processes. These processes will be automated across five
Regional Processing Centers (RPCs) of the bank, in India. Trade Finance
involves processes such as LC/Guarantee’s Processing, Remittances, Bill
Discounting and Collections. Retail and Loan Processing involves processes
like Personal/Housing, Account Opening (Retail and Corporate), and Credit
Card Account Opening.
Bank of
Baroda is looking at technology-enabled transformation in an effort to
reposition itself to face increased business competition in the Indian and
global financial marketplace. For this, Bank of Baroda has identified
Business Process Automation and Document Management as critical technologies,
which would work in synergy with its other technology-implementation
strategies.
The
solution will be used for Background/Business Process automation and
Document Management.
The
NEWGEN solution will reduce paper-based processing and process turnaround
times to enable Bank of Baroda to become competitive by delivering Service
Level Agreements (SLAs) to its customers. This would also enable the bank
to differentiate its SLAs as per customers’ needs and offer prices
according to the profitability of the customers.
Bank of
Baroda also hopes to leverage the solution to continuously improve business
and operating performance by reduction in operating cost per transaction
and de-risk operations by zonalization.
Bank of
Baroda was established in 1908, and is today recognized as one of the
leading banks in India and has operations spread across 21 countries. It
endeavors to be a top ranking national bank of international standards
committed to augmenting stakeholders' value through concern, care and
competence. The bank offers a wide range of services for personal, business
and corporate users. In addition, it also offers a range of services for
international services that include NRI services, Foreign currency credits,
Offshore banking, Correspondent banking, Trade Finance and International
Treasury among others.
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NEWGEN makes a mark at Banknet Exhibition and Seminar
This
January, NEWGEN participated in a significant event, Exhibition and Seminar
on Payment Systems, hosted by Banknet India at Taj Lands End, Mumbai. This
was the largest-ever event on Payment Systems, with representation from
more than 100 banks and 50 IT companies.
The event
featured different modes of Payment Systems. The Banknet event held great
significance in wake of RBI’s emphasis on strengthening the computerized
Cheque Clearing and Electronic Funds Transfer (EFT). The event generated a
great deal of business interest among representatives of Indian banks, RBI
and IT vendors.
NEWGEN
showcased its state-of-the-art CTS solution. NEWGEN presented a live-demo
of its ChequeFlow and ChequeFlow Lite solutions. Mr. Punit Jain, VP- Sales
and Marketing, was a lead panelists during the discussion hour at the
conference. The impact on banking products and services, in light of new
directives from RBI, including regulatory requirements, were some of the critical
points of discussion.
NEWGEN
participated in the event as a Silver Sponsor.
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NEWGEN
to implement BPM for new processes at KQ
Kenya
Airways (KQ), has once again opted for NEWGEN Omniflow Suite for automating
seven more processes across their enterprise, thus evolving into a truly
BPM-enabled organization.
This new
order stands testimony to NEWGEN deep and accurate understanding of
processes at Kenya Airways. Moreover, over the past years, NEWGEN has built
a strong rapport with Kenya Airways by delivering on-time, high-quality
solutions.
Kenya
Airways is a leading airline in Africa and was established in 1977. For two
consecutive years, in 1999 and 2000, KQ was voted the ‘African Airline of
the Year’. In 2001 it was voted as the ‘Best User of Information
Technology’, in Kenya, by the Computer Society of Kenya. The Airline has
strategic partnership with several International Airlines for providing
unmatched convenience to its customers.
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Recent Press
Releases:
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BPM
approach must for corporate governance
The
need of hour, there-fore, is a comprehensive Business Process Management
(BPM) approach. This requires every business process to be documented, in
detail and with maximum clarity. All possible risks, whether financial,
strategic, reputation, or operational, have to be identified, and
controls for migrating these risks have to be established.
The Financial Express
, January 30, 2006
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NEWGEN
announces completion of Kenya Airways project
NewGen
Software Technologies Limited on Thursday announced the completion of
Kenya Airways project. The company has successfully implemented Omni
product suite comprising OmniFlow, OmniDocs, OmniReports, OmniCapture and
OmniExtract.
IndiaInfoline.com,
January 19, 2006
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Serious
Developer
In
1976, Mr Diwakar Nigam, left a cushy job to pursue his one passion in
life – software product development. “This is what I love doing the most
in life”, says Nigam, MD of Newgen Software Technologies.
Business Standard - Ice World, January 11, 2006
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Planning
for Workflow Automation
Wipro
BPO has implemented NEWGEN OmniFlow (BPM) for the workflow and NEWGEN
OmniDocs (DMS) for managing all their documents. NEWGEN OmniFlow is a
platform independent Workflow Solution that simply needs to be installed
and some configuration done to get it up and running.
PC
Quest, January 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 600
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 600
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 OMNI 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.
NEWGEN is an ISO 9001:2000 and CMM
level 4 company.
Website: www.newgensoft.com
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