Newgen on an expansion mode

NEW DELHI: Delhi-based Rs 35-crore Newgen Software expects to notch up a revenue of Rs 58 cr in the next fiscal. Buoyed by the launch of its new product OmniFlow and the growing BPO sector opportunity the company expects to capture 40 percent of the document management (DM) and business process management (BPM) market this year.

Newgen offers end to end solution in the document management, work flow management and business process management space. The company, which has been engaged in R&D work since 1992 and came up with its first product by 1994, has started building up momentum only recently-its growth being propelled by the rise of the BPO industry on one hand and the increasingly centralized operations of companies on the other. Besides, it is only now that internal networks of corporations are ready with basic networking preparing the stage for tools like work flow management.

The company has made some impressive tie-ups with the likes of Wipro, Infosys, HP, and Ramco. It recently bagged a contract with Wipro to install its products in the Rashtrapati Bhavan. It executed the project with Global Trusts Bank in Hyderabad with Infosys. "In fact, we have started getting calls from big players like TCS and NIIT to pitch for various deals only recently.

This is because we have been able to establish our presence in the domestic market and proved our worth now," explains the company Managing Director Diwakar Nigam.

Newgen is one of the few Indian companies that have successfully sold its product in the domestic market. About 50 percent of its revenues come from the domestic market with another significant portion of its revenues coming form its OEM deals with Canon and Toshiba. Newgen has licensed its imaging technology to Canon in Japan and Toshiba in the US.

It also has a sizable presence in the Middle East, South East Asia and the US market. The company currently employs over 400 people with a large number of them dedicated to the R&D. This manpower is expected to increase slightly during the year as it ramps up operations. It has two development centers in Delhi and one in Chennai.