Newgen Software Technologies Limited, a market leader in Business Process Management (BPM) and Enterprise Document Management, today announced the successful implementation of its suite of DMS products at Equitas, a Chennai-based, Microfinance Company to streamline the existing processes leading to increased productivity.
Equitas, a leading microfinance company, has over 700 employees and operates out of 90 locations. With Newgen’s solution, Equitas wanted to improve scalability and increase productivity by eliminating document movement, anywhere access, distributed capture and automatic data extraction.
Newgen, with its vast experience in business process automation, was selected by Equitas to streamline its entire gamut of Microfinance operations, backed by a completely automated system that minimizes the physical documents and reduces manpower requirements while ensuring high productivity.
Speaking on the implementation, Mr. Diwakar Nigam - Managing Director, Newgen Software, said “The impact of the implementation of the Newgen solution has been two-fold – better coordination and greater efficiency. We will look forward to strengthening our relationship with Equitas as they expand their business rapidly in the country to stay ahead in business.”
"We have greatly benefited in terms of cutting down the number of processes, reducing data capture time and improving the quality of data to a large extent," said Mr. H Mahalingam, Chief Technology Officer, Equitas. "In fact, we could achieve three-fold increase in production without any investment in resource or space."
The Newgen solution enabled better coordination of sales officers with customers and among other stakeholders for any discrepancy in the membership application forms like missing information or insufficient documentation. The solution also enables seamless data exchange with the core application Bankers Realm and easy replacement of documents and data.
Equitas is a Chennai-based, Microfinance company and extends micro credit to people who are otherwise unable to access finance from the mainstream banking channels. The objective of the company is to make available finance at reasonable cost and in a transparent manner to such customers and aim to achieve acceptable returns on investment so that it can continuously attract mainstream capital and human resources to better serve the chosen client segments. The company operates under the Grameen model with suitable adaptations.
About Newgen Software
Newgen Software Technologies Limited is the market leader in Business Process Management (BPM) and Document management System (DMS), with a global footprint of about 750 installations in over 35 countries. More than 100 of these implementations are large, mission-critical solutions deployed at world's leading BFSI, BPO and Fortune Global 500 companies.
Newgen is recognized by distinguished analyst firm IDC in its exclusive report “Newgen Software: Global Leader in Business Process Management and Document Management Solutions.”
Winner of prestigious awards, such as CNBC-TV18 “Emerging India Award 2008”, Frost and Sullivan's “Market Leadership Award for Document Management System and Workflow Software & Services” and “Distinguished Application Product Company” by NASSCOM, Newgen Software is an ISO 9001:2000, ISO 27001 certified and CMM Level 4 company.