In Conversation with Virender Jeet CEO, Newgen Software Technologies Limited
Virender Jeet CEO, Newgen Software Technologies Limited
With organisations looking for a hyper-automation strategy to streamline their disjointed processes and accelerate the digital journey by integrating various technologies, Newgen Software Technologies is likely to post a strong growth curve, says CEO Virender Jeet
What is your outlook on the global content services platform market? What are the emerging trends you are witnessing in the business process management (BPM) and hyper-automation markets in the post-pandemic world?
From e-mails and policy documents to contracts, content is at the core of every enterprise. This content is not limited to papers, pictures and scanned images. Content comes in a variety of formats, ranging in length and complexity, including paper documents, digital documents, audio and video files, e-mails, instant messages, etc. Business leaders need a platform with complete intelligent tools and technologies necessary to manage the end-to-end lifecycle of content. They look for an effective content services platform that helps them establish a digital workplace where content is easily accessible anytime, anywhere
The pandemic has taught organisations that digital in silos is not enough. Today, organisations are looking for a hyperautomation strategy to streamline their disjointed processes and accelerate their digital journey by integrating technologies like robotic process automation, artificial intelligence and machine learning with existing capabilities. NewgenONE, a low code-based digital transformation platform, is wellpositioned to help organisations ace their hyper-automation goals. In brief, an organisation can simplify complex, contentdriven business needs with one comprehensive low code digital transformation platform.
Newgen Software Technologies’ consolidated revenue from operations for Q1FY23 witnessed strong YoY growth of 18 per cent, reaching ₹188 crore as compared to ₹160 crore in Q1FY22. What factors are responsible for your stellar outperformance?
Our subscription revenues, annuity revenue streams and revenue from the sale of products and licenses are all doing well. Artificial intelligence and data science have strengthened our NewgenONE cloud-based platform and our strategic partnership with strong SI integrators is pushing our revenue graph upwards.
What is your vision for NewgenONE over the next 2-3 years?
What are the opportunities you are focusing on? We have enhanced NewgenONE with a cloud-native, multipersona artificial intelligence and data science platform. Our platform is further enriched with intelligent document classification and extraction, integrated process, robotic process automation and easy application deployment capabilities. Last year, many markets were not open due to the pandemic-related restrictions. This year the situation is certainly better and we look forward to accelerating growth significantly. We want to increase our momentum in mature markets, including the US, Australia and Europe. We aim to go back to our historical growth rates of 20 per cent in the medium term.
At the moment, what are your top three strategic priorities?
We have always given importance to our products, employee training and strengthening our partner ecosystem for expanding footprints in newer and bigger markets. We have started FY23 with new vigour and new branding, driven by our rich and differentiated platform, lasting relationships with customers, strong team and a robust demand environment.