Organizations are in a rush to simplify their customer experiences, and the move to digital-first to handle this is gaining momentum. ZK Research has found that 95% have at least one digital initiative underway and that 74% of companies have accelerated their plans by at least one year since the pandemic began.
However, transforming a complex business process into a simple customer experience is challenging. Business processes are highly complex and often span multiple siloed departments. At the same time, organizations are inundated with enterprise data spread across dozens of different databases and millions of files.
How Newgen simplifies this changeover
Newgen is a creator of a platform that aims to address those challenges. Organizations in more than 72 countries around the world use Newgen's digital-transformation platform with its low-code capability to develop and deploy content-driven cloud applications. Established in 1992, the New Delhi-based company has expanded its reach to the U.S., with one-third of its revenue now coming from the U.S. market.
"The goal is to aid large organizations with complex processes as they embark on a digital transformation journey," Anand Raman, Newgen's Executive Vice-President and Chief Operating Officer, said in an interview with ZK Research.
Earlier this year, the company unveiled its NewgenONE Digital Transformation Platform, which enables organizations to rapidly develop business applications with varying complexity. The low-code platform automates business processes, manages data, and simplifies customer engagement. Newgen works with leading global system integrators (Infosys, Wipro, HCL, Tata), technology partners (Amazon Web Services, Microsoft, SAP, Oracle), and consulting partners (Deloitte, Accenture, BCG) to enable integration of NewgenONE with business apps, back-end systems, and third-party systems.
Workflow complexity, unstructured data hold back digital initiatives
"Digital transformation can be complicated and messy because businesses are complex. Companies are dealing with multiple products, umpteen business rules, approval workflows, exception handling, meeting audit and compliance requirements, making sense of customer data and vendor data residing across multiple systems, and exploding amounts of unstructured content including paper, file systems, emails, audio, and video," Raman said.
Meanwhile, customers are demanding an "Amazon-like" experience and personalized engagement anytime, on any device across channels.
"Newgen is focused on automating the toughest business processes and managing enterprise information spread across different systems," Raman said. Think of NewgenONE as an X-ray of an organization's core processes, then add an Amazon-like user experience on top of it, he explained.
NewgenONE's platform approach to digitization
NewgenONE is powerful enough to handle this level of complexity. There are three key elements of the platform that make this possible:
Omnichannel customer engagement is powered by personalized engagement, contextual communication, sentiment analysis, and multichannel interactions;
Low-code process automation, which includes process workflows, robotic process automation (RPA), artificial intelligence (AI)/machine learning, ML-driven analytics, and dynamic case management; and
Contextual content services that provide content and records, content collaboration, content intelligence, and content discovery.
An average organization uses six to 10 content management systems. NewgenONE is designed to augment existing systems, instead of ripping and replacing them. Newgen integrates with existing systems, as was the case for one Newgen customer, a U.S.-based organization that owns and manages variable annuity life insurance.
The organization was struggling with a high volume of multi-channel service requests from policyholders and agents issued across different portals. It developed a solution on the Newgen platform that provides omnichannel customer engagement, low-code process automation, and contextual content services. The solution was integrated with the organization's core systems, and 40 terabytes of content were migrated from four legacy repositories, including IBM Content Manager OnDemand (CMOD). Now the organization has a unified view for the user experience and intelligent content classification.
"A smoother experience for the employees really translates into how you are ultimately delivering the result. In this instance, the internal employee productivity and efficiency increased, so the external customers were feeling the benefits also," said Raman.
Another customer, a Fortune 100 U.S. insurance company, was managing years' worth of litigations and class action suits using manual auditing and legacy systems. Newgen partnered with Infosys to integrate with the company's core systems and create a unified user interface for viewing multiple documents, files, and folders. The partnership resulted in a web app for lawyers to track and manage cases, as well as collaborate internally and externally. The lawyers were able to use the low-code interface themselves to create their own experiences.
The simplicity of the NewgenONE platform enables users to configure how they want to see certain dashboards, depending on the nature of their work. According to Raman, these are just a few examples of how customers are using the platform. There are many other enterprise use cases on which Newgen is working.