Newgen Solution for a Leading Transport Finance Company in India

Newgen Software successfully won the order for implementing its ECM and BPM solution at India’s leading Transport Finance Company. The solution is based on Newgen OmniDocs^TM and OmniFlow^TM.

The operations department at the company has to deal with a very large volume of documents. These documents are generated daily from processes like New Business Development, Instruction Processing and Client Servicing. Moreover, the company also had to comply with the frequent changes in regulatory norms.

For the first phase, Newgen proposed implementing its Enterprise Content Management solution, OmniDocs^TM to manage the documents generated by the system. Using index-based searches, the users can quickly retrieve the customer folders or the individual documents within these folders. The solution would be deployed initially at the central office of STFC at Mumbai and gradually rolled out to other locations within the company. For the second phase, Newgen OmniFlow^TM would be implemented as the Workflow and BPM solution for streamlining processes such as Account Opening and Client Servicing.

The solution is expected to result in multiple benefits such as improved Truck Finance services, reduced training time for specialist, better performance monitoring and optimization, cost savings and better compliance to regulations.

Shriram Transport Finance Company Limited (STFCL) is a leading financial service provider in India. STFCL, India's largest player in the transport financing business was established in the year 1979. The company has a network of 300 branches and service centers. It is a flagship company the Shriram Group.