Newgen Software Technologies Ltd

Newgen Software Technologies Ltd

Newgen Software Technologies Limited is a provider of Business Process Management Enterprise Content Management and Customer Communication Management platforms with large mission-critical solutions deployed at world's leading Banks Governments BPOs & IT Companies insurance firms and Healthcare Organizations.Newgen Software Technologies Limited is a software products company offering a platform that enables organisations to rapidly develop powerful applications addressing their strategic business needs. The applications created on its platform enable organisations to drive digital transformation and competitive differentiation. This may include automation of routine business functions making them faster easier and more accurate and increasing the channels or devices through which these functions can be performed.The Customers use the platform of the company to rapidly design build and implement enterprise-grade custom applications through its intuitive visual interface with minimal coding. The Platform comprises of: Enterprise Content Management (ECM) Business Process Management (BPM) Customer Communication Management (CCM). Being built on the same technology architecture these suites are well-integrated and offer its customers ease of implementation and use. These suites can be deployed on-premise as well as on cloud. Increasingly the customers are choosing to use its product suites on cloud on a subscription basis.The Company's go-to-market strategy consists of direct sales supplemented by sales through its channel partners. Its direct sales are made by the Company in India and its Subsidiaries located in USA UK Singapore and Canada through its sales and marketing teams which as of March 2018 comprised more than 270 employees. As of March 2018 the company has more than 300 channel partners globally. As of March 2018 the company has over 520 active customers in over 60 countries. Some of its key active customers include Trust Company of America Mercantil Bank ICICI Bank Trafigura Bajaj Electricals United Arab Bank National Commercial Bank Jamaica Axis Bank Yes Bank Kotak Mahindra Bank Bank Islam Brunei Darussalam Philippines Resource Saving Bank ICICI Prudential Life Insurance Reliance General Insurance Max Life Insurance Strides Shasun and Shriram Transport Finance. The enterprise-wide mission-critical solutions of the company have been used by some of the leading global businesses in various sectors including banking government/PSUs BPO/IT insurance and healthcare.Newgen Software Technologies Limited was incorporated as a private limited company with the name Newgen Software Technologies Private Limited' on June 5 1992. The Company became a deemed public limited company from July 1 1997. During the year 1997 Newgen Software Inc. USA was incorporated as a wholly owned subsidiary of the company. The name of the company was changed to Newgen Software Technologies Limited' and the company was converted into a public limited company with effect from June 13 2000.In 2008 the company received investment from SAP AG Germany and HAV 2 (Mauritius) Limited. During the year under review the company released OmniDocs 7.0 - This version was developed with focus on stability performance and improved manageability. Subsequently the company released RMS 2.0 - Updates focused around DoD 5015.02-STD certified RMS enhanced record policies search & retrieve operations in 2011. In the next year 2012 two subsidiary companies namely Newgen Software Technologies Canada Ltd. ('Newgen Canada') and Newgen Software Technologies Pte. Ltd. ('Newgen Singapore') were incorporated by the company. In 2013 the company released ZapIn 1.2.1 - Mobile capture solution and received investment from IDGVI and Ascent Capital. In 2014 the company released NEMF - Newgen Enterprise Mobility Framework to rapidly create rich mobile applications and iBPS 2.1 - Updates focused around providing social mobile and analytics capabilities. In the year 2015 the company incorporated a subsidiary company in United Kingdom with the name 'Newgen Software UK'. In 2017 the company released OmniOMS 8.0 - Updates focused around end-to-end interactive and on-demand use cases real-time communication generation from devices and business systems multichannel distribution and HTML5 based emails.On 28/09/2017 the company filed Draft Red Herring Prospectus and on 16/01/2018 filed Red Herring Prospectus with SEBI for raising Rs. 424.62 cr. The Issue dates were from 16/01/2018 to 18/01/2018 with Price Band of Rs. 240 to Rs. 245. The Issue got subscribed 8.17 times leading to its Issue Price being fixed at Rs. 245. The Shares got listed in BSE and NSE on 29/01/2018 at Rs. 253 which is 3.27% above Issue Price.On 20 March 2018 Newgen Software Inc. (wholly owned subsidiary of Newgen Software Technologies Limited) announced the release of Mobile Medicare Enrolment (MME) solution for the US Health Plans. Built on a robust platform Newgen Enterprise Mobility Framework (NEMF) the suite allows Health Plans to eliminate paper-based enrollments and reduce operational costs significantly.The Board of Directors of Newgen Software Technologies Limited at its meeting held on 4 June 2018 authorised Mr. Diwakar Nigam Chairman & Managing Director and Mr. T.S. Varadarajan Whole-time Director severally and other officials as may be designated by them for this purpose to execute necessary documents for acquisition of a property at Noida-Greater Noida Expressway Uttar Pradesh for using it as Office Premises at an aggregate consideration upto Rs 50 crore. This will be financed from net proceeds of the Initial Public Offer. The above consideration excludes transfer charges stamp duty on registry consultancy charges brokerage fee and processing fee etc. On 28 June 2018 Newgen Software Technologies Limited announced that the company has received a work order for Document Management System (DMS) and digitization project of the records of District and Subordinate Courts in the State of Maharashtra on turnkey basis subject to approval of pilot phase. This work order pertains to digitisation of Judicial Records (metadata Creation and DARIMS Pages population (Mostly legal size). Total size of work order is Rs 63.93 crore.On 7 August 2018 Newgen Software Inc. (subsidiary of Newgen Software Technologies Limited) announced that the American National Bank of Texas (ANBTX) has selected its consumer loan origination solution to digitize and automate its retail lending process. This will enable ANBTX to offer a more proactive and comprehensive end-to-end solution while delivering an enhanced customer experience. On 7 August 2018 Newgen Software Inc. (subsidiary of Newgen Software Technologies Limited) announced that Credit Union of Colorado has selected its Account Opening and Loan Origination solutions on Cloud to streamline critical banking processes and offer personalized and enhanced services to its customers.On 19 September 2018 Newgen Software Technologies Limited announced that the company has executed an agreement with Hewlett Packard Enterprise India Private Limited for supply of software licences & related services. The size of the work order is Rs 78.85 crore (approx).