Interviews

CIOs and CXOs are keen to adopt BPM

Virender Jeet is Senior
Vice President Technology  at Newgen
Software. In an exclusive interaction with India CIO Review, Virender talks
about the focus of his company and how Newgen differs from the competition.
Excerpts:

Virender Jeet is Senior
Vice President Technology  at Newgen
Software. In an exclusive interaction with India CIO Review, Virender talks
about the focus of his company and how Newgen differs from the competition.
Excerpts:

Q. How do you see the BPM market in
India?
BPM market in India
has evolved at a rapid pace in the past few years. After a humble beginning,
BPM industry has come a long way and one can easily observe increased demand
for BPM software products across all industry verticals. Highly competitive and demanding business environment has created
significant performance pressures on Indian organizations. They are
increasingly looking for reliable and cost-effective technology platforms that
can help them build flexible and scalable IT frameworks. Organizations, today,
prefer end-to-end solutions over silos of business applications running
independently, to create operational efficiency and process standardization.
The growing phenomena of social, mobile, cloud, and analytics are further
fueling the dynamism in business world, encouraging organizations to opt for
BPM based applications. Considering
these factors, future of BPM industry augurs well. Indian BPM industry, in
fact, is expected to grow into a multibillion entity over the next decade.

Q. What are the trends you see in the
user community, particularly CIOs and CXOs?
The CIOs and CXOs are
highly optimistic about automating and streamlining organizational processes
through advanced BPM technology platforms. Below are the trends that are
driving the decision making process for Indian companies in their bid to adapt
and stay competitive:-

Mobility – With the rise in penetration of mobile devices, making mobility a
part of the core business strategy has become inevitable for organizations
across all industries. Enterprises are leveraging mobility within their critical
business processes to get closer to their customers and provide world class
services

Social Media – The pervasiveness of social media has made it an indispensable
component of business ecosystem, today. Organizations are looking for smart IT
frameworks that facilitate collaborative work environment high degree of
customer engagement by leveraging social media platforms to help them win the
competitive edge.

Analytics – Expanding the scope of process analytics to encompass predictive
analytics tools along with real-time Business Activity Monitoring (BAM) has become
a top priority for most CIOs and CXOs. This has resulted in enhanced
operational intelligence, improved visibility and higher business
responsiveness.

Cloud – Collaboration amongst key stakeholders, business leaders, analysts,
process owners, and business users is the key to continuous process improvement.
Cloud platform can enable this real-time collaboration amongst users to create
operational excellence and is thus a preferred IT platform for organizations
that are looking to scale up operations in quick time                     

Q. What are the industries contributing
to your business?
We are predominantly
focused on Banking, Financial Services, Insurance, BPO/SSC, Government,
Manufacturing, Healthcare, Education, Oil & Gas, Legal and Telecom. The
BFSI segment is one of most important verticals where we are seeing rapid surge
in demand. With technology changing so rapidly and compliance becoming more and
more critical, BFSI will continue to rely on technology for a sustained
business growth. Apart from providing the core ECM and BPM infrastructure of
imaging, capture, document management (DM), records management (RM), workflow
etc, we offer composite content applications like customer on boarding, loan
origination and servicing, claims processing, CRM for Customer Contact Centers
and CCM for the BFSI sector. Today, more than 200 BFSI organizations across the
globe use our solution.

We have also received increased traction in
the Government vertical, driven by the need to ensure transparency and fairness
in government functioning. While large enterprises are the major growth drivers
for the enterprise software market, the emergence of cloud has unfolded new
opportunities for small and mid-sized businesses (SMBs) with limited budgets.
To promote the growth of SMBs, Newgen offers its solutions on cloud allowing
SMBs to unleash the potential of ECM and BPM, which were once considered niche
technologies reserved only for large enterprises with huge IT budgets, at
affordable price points.

Q. Does the fact that Newgen is an
Indian product company pose any challenge when you go to customers since traditionally
the strength of Indian companies is thought to be services?
During the initial phase of Indian IT revolution, growth
in this sector was largely driven by services. Meanwhile, the IT products
market was dominated by global players. It was at this time that we realized that
services would only provide limited growth opportunities, being highly
dependent on market conditions and legislations. We could foresee the potential
of the software product industry and invested in developing cutting-edge IT
products, which could provide competition to foreign software product
companies. It has been a tough landscape to navigate and one that is laden with
obstacles. There is no guidance, no roadmap to follow, little government
support and a customer base that needs to be sensitized and educated on the business
benefits of using indigenous IT products. Moreover, the biasness towards
foreign players makes it even more challenging. It is very much a case of
building your own path and inspiring a new generation of IT entrepreneurs

Today, Newgen is a well known name across the global business community.
We have presence in over 58 countries and have partnered with some of the
world’s leading companies to deliver operational efficiencies and transformed
their businesses. This, however, is just the beginning. Our endeavor is to
increase our footprint across the world, expand to over 100 countries, and take
the Indian IT product industry to newer heights built on the foundation of our
innovative products.

Q. What are the top five trends that
you bet big on?

Social Media, Mobile Technologies, Big Data, Analytics and Cloud Computing are
top technology trends that we think are going to change the business landscape
forever. We have, thus tried to leverage these new age technologies to enhance
our product suite. Our solutions have built-in social collaboration
capabilities that allow business to manage the information arising out of the
social space. Our Enterprise Mobility Platform extends the functionality of our
ECM & BPM suites on mobile, rendering a great degree of convenience and
efficiency to the business users. Newgen’s cloud solution provides a new,
cost-effective alternative to traditional enterprise systems by providing
organizations complete access to its proven ECM and BPM solutions, on a pay per
use basis, while securing privacy and security of intellectual property.

Q. Are Indian companies embracing new
trends such as BYOD, Digitization, Cloud and Big Data?

Indian companies have traditionally been slow movers in terms of adopting the
latest technology. This has made them lag behind their global counterparts.
Things are changing today and are changing pretty fast. Indian companies are increasingly looking for reliable and cost-effective
IT solutions that can provide them with flexible and scalable IT frameworks.
Digitization and cloud are high on the agenda for most Indian CIOs, seeing a
high adoption rates across most industry verticals. For others such as BYOD and
Big Data, there is still some amount of work that needs to be done to bring
Indian companies at par with the global enterprises.

Most of these trends are highly progressive
and the new government seems keen on leveraging technology in every aspect of
business and pubic welfare.

 

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