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This month, we begin with a global private wealth management unit of a Banking giant, which entrusted Newgen Software with automation and better management of its processes. The unit’s offerings include Equity Broking services and Financial Planning solutions for clients in India. The management realized that the processes were riddled with inefficiencies marked by high Turn Around Time (TAT), poor consolidation of documents, slow tracking, poor monitoring and continuously escalating costs.
Newgen Software’s BPM solution enabled the company to be in complete control of its processes. One of the most critical of these processes was Client Account Opening. Newgen Software’s solution comprises OmniFlowTM (workflow), OmniDocsTM (content and document management) and OmniScanTM (scanning and indexing). The solution is available on the company’s intranet. Production-level scanning of forms is performed at branches,. The users access the imaging and workflow solution securely through HTTPS protocol.
The solution has resulted in multiple benefits such as reduced TAT, improved handling of discrepancies and exceptions, reduced error rates, high scalability and reduction in customer-response time.
On achieving great success with Newgen Software’s BPM solution, the company’s CEO shared, “We appreciate Newgen team’s willingness to crunch the time lines to enable us to achieve production deployment in quick time. The most remarkable thing about this project, however, has been the relatively smooth UAT phase with minimal defects. I believe this speaks volumes about the quality of the core product and the customization.”
The month saw frantic activity on the domestic front, with Newgen securing big wins from its conventionally stronghold sectors, Insurance (United India Insurance win) as well as new verticals such as Healthcare (Apollo Health Street) and Metals & Mining (Vedanta). On the international front, by bagging orders from two regional Insurance giants, Takaful Malaysia and Deves Insurance, Thailand, Newgen proved its leadership position in providing BPM-enabled solution in the APAC region.
Among the other news, Newgen Software revved up the excitement at MEFTEC - world's premier financial technology event.
Finally, Newgen Software’s Bangalore team shifted to a plush new office in the heart of the city.
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To know more, read on…
Vedanta to Deploy Newgen BPM solution for its Shared Services Center
Vedanta, a well-established metals and mining group, recently decided to deploy Newgen’s BPM and DMS solution in the company’s Shared Services Centre at Tuticorin, Tamilnadu for centralizing and automating its Finance and Accounts (F & A) processes, starting with Accounts Payable.
Currently, Accounts Payable processing is done manually in UK. The invoices move physically, thereby consuming a lot of time. In addition, status of invoices is difficult to track, besides invoices being prone to physical wear and tear and damage. In order to effectively counter these problems as well reducing processing costs, Vedanta plans to open up a Shared Service Centre, which would centrally handle various Finance and Accounts (F & A) processes of the organization that are spread across countries.
During the first phase of the solution, Newgen will automate and centralize Vedanta’s Accounts Payable Process with its BPM solution, OmniFlowTM. The solution also includes document management for maintaining a unified repository for enterprise wide documents of Vedanta. In the second phase of the solution, the system would be integrated with SAP.
Going forward, Vedanta expects the BPM solution to reduce the turnaround time, optimize resource utilization, improve process visibility, eliminate document redundancy, and provide better version control, besides several other benefits.
Vedanta Resources plc was listed in London in December 2003. It is diversified and integrated FTSE 250 metals and mining group. The company’s major operations are in India, besides active presence in several other countries like UK, Egypt, Zambia, Australia, etc.
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Newgen Software, in Partnership with HP, to Automate Centralized Processing at United India Insurance
United India Insurance Company Ltd., the leading General Insurer in India, has geared up for de-tariffing regulations by choosing Newgen to automate its system for centralized processing of policy applications and claims.
Till now, the company issues policies and settles claims at the branch level itself using a legacy branch automation system. The system, however, caters only to individual branches and is not capable of consolidating data across all branches. With the growing volume of insurance policies, the company saw a clear need for centralized processing. Also, in view of the new detariff regime, the company wanted to fully gear up for competition, counter increased price pressures and provide innovative products and services. Going Forward, it recognized the need for a fully automated, centralized solution that would not only help cut down on processing costs but also provide enough flexibility and adaptability to changing market dynamics. In addition, it also wanted to optimize process and people capabilities across the board.
The Newgen solution will be integrated with the core insurance application, where all the core activities like premium calculation would be performed. The Newgen solution comprises OmniFlowTM, OmniDocsTM, OmniScanTM and other products. Insurance applications and documents are scanned and introduced into OmniFlowTM workflow, and stored in the OmniDocsTM repository once the processing is over.
The solution is expected to provide UIIC with consolidated data from its branches across India, instant anytime-anywhere access to documents, reduced costs and flexibility in introducing new products in a short duration. Also, the instant availability of information enables surveyors and agents to quickly make informed decisions at the time of claims.
The solutions will cover 1300 offices in India including the Regional, Divisional & Branch offices. During the first phase of implementation, the implementation would cover Motor, Medical and Household lines of business. Subsequently, the solution would be rolled out for other lines of business.
United India Insurance Company Limited (UIIC) is a leading General Insurance Company in India. The company has more than three decades of experience in non-life Insurance business. Headquartered in Chennai, the company was formed by merging 22 companies, consequent to nationalisation of General Insurance in 1972.
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Apollo Health Street opts for Newgen solution to Automate its Processes
Newgen Software won a highly prestigious order for automating the internal processes at Apollo Health Street BPO. The processes at the BPO are oriented towards providing Healthcare services.
In wake of its aggressive growth plans resulting in increased complexity of its processes, Apollo Health Street BPO decided to deploy Newgen BPM solution. The solution, based on OmniFlowTM, would enable faster turn around time, reduce costs, and better monitoring and control over processes running at the BPO.
Apollo Health Street is a global Healthcare services company of the Apollo group. It offers BPO and IT solutions & services to a global clientele.
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Takaful Malaysia Looks to Newgen Software to Power it Growth
Stamping its strong presence across the world in Insurance sector, Newgen bagged an order from Takaful Malaysia, the leading Insurance company in Malaysia. Besides, getting the project for data migration, Newgen is strongly working with Takaful Malaysia to offer its BPM and ECM solutions to the company.
Mr. Muhammad Anjar Kuncoro, the CIO of the company, recently visited Newgen Software to understand the model of further working together in the future. A number of crucial areas were identified, and the discussions ended on a positive note.
Takaful Malaysia strictly operates under the stipulated Islamic guidelines for insurance. Newgen, having worked with a large number of banks and insurance companies in the Middle East, is uniquely positioned to offer Takaful Malaysia truly customized and optimized solutions.
Takaful Insurance, designed to adhere to Islamic laws, is based on the principles of equity and fairness among the policyholders. Syarikat Takaful Malaysia Berhad (Takaful Malaysia) was incorporated in 1984. Takaful Malaysia offers comprehensive Life and General Insurance plans. It also offers various Healthcare, Education, Travel, Engineering plans and schemes.
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Newgen implements Claims Management Process for Deves Insurance
Continuing with its great success in APAC region, Newgen recently implemented its BPM and ECM solution for Claims Management process at Deves Insurance in Thailand. The process is also integrated with the POLISY/400 system – a General Insurance administration system for defining and issuing personal lines and commercial lines of General Insurance products – to enable Deves Insurance to leverage their existing investments.
The Deves Insurance Public Company Limited, based in Bangkok - Thailand, offers General (Non Life) Insurance in areas such as Motor, Fire, Marine and Miscellaneous (Personal Accident, Travel, Burglary and Health, etc.).
Newgen Creates Buzz at MEFTEC, Bahrain
Newgen Software recently participated at MEFTEC, world's premier financial technology event, with a special focus on the Middle East, Africa and South Asia (MEASA) region.
Newgen already has a strong presence in the Middle East market, and showcased new versions of its BPM and ECM suite of products, which offer powerful capabilities to meet the challenges of today’s organizations.
Leading CIOs, CEOs, delegates and other decision makers from across the world were present at the event. Newgen Software stall was constantly buzzing with activity with a number of business enquiries from companies across the world.
Newgen stall at MEFTEC
Newgen Gets a New Office in Bangalore
Newgen recently opened a new office in Bangalore. The new office boasts of all the modern amenities and a large seati
ng capacity. The opening ceremony of the new office was marked by the presence of more than 20 customers representing various reputed clients of Newgen Software that include iGATE, Karnataka Bank, CapGemini, Wipro BPO, Caterpillar, and many more. The customers spoke highly of Newgen Software’s solutions that have been implemented at their organizations, and shared valuable feedback. Speaking on the occasion, Mr. T. S. Varadarajan - Director, Newgen Software, said that Newgen is a fast-growing organization and is rapidly creating a niche for itself in the market by establishing itself as a quality-oriented and nimble organization that puts the customers first. Mr. Varadarajan told the gathering that the new Bangalore office is one of the many steps towards further expanding Newgen Software’s global client base. With the new office strategically located in heart of Bangalore, it’ll provide Newgen Software easier and better access to its rapidly growing client base in the region and vice versa.
With a large number of international companies opening offices in the Southern India, Newgen’s Bangalore office and Chennai facility (opened last year) would go a long way in serving the large client base. Carrying along its rapid expansion spree, Newgen is eyeing some other locations, both in India and overseas, to expand its presence.
Mr. Varadrajan Inaugurating the new Bangalore office
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In This Issue |
About Newgen |
| Newgen Software Technologies Limited is a market leader in Business Process Management (BPM) and Enterprise Content Management (ECM), with impeccable track record of implementing mission-critical Workflow and Document Imaging solutions. More... |
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Our Prestigious Clients |
| HSBC Bank, Deutsche Bank, Hua Nan Bank, ABN Amro Bank, ICICI Bank, IDBI Bank, State Bank Of India, ING Vysya Bank, CitiFinancial, RAK Bank, Bank of Tanzania, Max New York Life, Bajaj Allianz, Uniliver, Philips, GE Countrywide, EXL, Satyam Nipuna, iGATE, Core 3, Ranbaxy, GSL, Kenyan Airways, SEC Phillipines, and many more... |
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Vedanta is a diversified and integrated FTSE 250 metals and mining group.
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OmniFlowTM is a platform independent, multilingual and scalable Business Process
Management suite.
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UIIC is a leading General Insurance Company in India.
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OmniDocsTM is an Enterprise Content Management System.More...
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Apollo Health Street is a global Healthcare services company of the Apollo group.
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OmniFlowTM is a platform independent, multilingual and scalable Business Process
Management suite. More...
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Takaful Malaysia offers comprehensive Life and General Insurance plans.
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OmniDocsTM is an Enterprise Content Management System. More... |
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Deves offers Non Life Insurance in areas such as Motor, Fire, Marine
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OmniFlowTM is a platform independent, multilingual and scalable Business Process
Management suite.More... |
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MEFTEC is world's premier financial technology event.
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Newgen Software is a market leader in BPM and ECM with a global footprint. More... |
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Newgen Software recently opened a plush, new office in the heart of the city.
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Newgen Software is a market leader in BPM and ECM with a global footprint. More... |
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Fullerton India, a part of Temasek Holdings, achieves phenomenal growth with Newgen's BPM solution
Newgen Software Technologies Limited, a market leader in Business Process Management (BPM) and Enterprise Content Management (ECM), with impeccable track record of implementing mission-critical Workflow and Document Imaging solutions, today announced the successful implementation of its BPM solution (based on Newgen OmniFlow™) at Fullerton India Credit Company Limited (FICCL). FICCL, one of the largest capitalized Non Banking Finance Companies (NBFC) in the country, has rapidly grown to 700+ branches from 350 branches, with further expansion underway. The number of users has also increased to 1560.
it-analysis.com, March 12, 2008
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BPM & SOA: Confluence For Unbeatable Business Value
Newgen BPM leverage SOA to offer comprehensive capabilities that make a strong case for their adoption, even individually. However, combined together, they offer pervasive, unbeatable benefits to enterprises looking to catapult themselves ahead of the others.
tech2.com, March 10, 2008
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Newgen Software launches output management system
Newgen Software Technologies has announced the launch of its output management system called OmniOMS (O2MS).
zdnetindia.com, March 06, 2008
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Newgen eyes presence in 100 countries
Newgen Software Technologies, a company engaged in Business Process Management (BPM) and Enterprise Content Management (ECM), is eyeing presence in 100 countries in the next two years.
ciol.com, February 14, 2008
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HSBC Pours $7.5 Million into India’s Newgen Software
HSBC Private Equity Asia, a subsidiary of HSBC’s Asian Ventures Fund, said on Monday it had pumped $7.5 million into New Delhi, India-based Newgen Software Technologies, a company that focuses on document imaging and work flow management systems.
dealbook.blogs.nytimes.com, February 13, 2008
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Leading the path effectively
“Indian managers possess a ‘nurturing orientation’ towards their subordinates in addition to task-orientation. In India, familial relationships and values are deeply imbibed in people. Similarly, our historical past and values make dependency and abdication of power a positively perceived phenomenon. Thus, people in subordinate roles become more supportive to their managers.” S J Raj, Senior VP, HR, Newgen Software
expresscomputeronline.com, February 11, 2008
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Newgen Software launches OmniDocsTM 6.0
Newgen Software Technologies limited, leader in the field of Business Process Management (BPM) and Enterprise Content Management (ECM), have launched the latest version of their DMS solution, OmniDocsTM 6.0. OmniDocsTM Version 6.0, comes with greater focus on enhanced security features & requirements, support for scalability & manageability and compliance with technologies and industry standards.
moneycontrol.com, February 09, 2008
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HSBC arm picks up stake in Newgen for Rs 30 crore
"With HSBC on board, we look forward to replicating our success in new markets and maximising shareholder value through our highly scalable product-based business model,” said Newgen MD and CEO Diwakar Nigam
economictimes.indiatimes.com, January 8, 2008
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About Newgen Newgen Software Technologies Limited is a market leader in Business Process Management (BPM) and Enterprise Content Management (ECM), with a global footprint of about 700 installations in over 30 countries. More than 100 of these implementations are large, mission-critical solutions deployed at world's leading BFSI, BPO and Fortune Global 500 companies.
Newgen is recognized by distinguished analyst firms like Gartner in its report “Magic Quadrant for Business Process Management Suites, 2007” and IDC in its exclusive report “Newgen Software: Global Leader in Business Process Management and Document Management Solutions.”
Winner of several awards, such as Frost and Sullivan's “Market Leadership Award for Document Management System and Workflow Software & Services” and “Distinguished Application Product Company” by NASSCOM, Newgen Software is an ISO 9001:2000, ISO 27001 certified and CMM Level 4 company.
Website:
www.newgensoft.com
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The information
presented here is internal to Newgen Software
Technologies Limited.
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Copyright ©
2008 Newgen Software Technologies Limited.
All rights reserved.
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