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Equitas implements Newgen’s DMS solutions for cost cutting and process improvement

02-19-2010 10:44 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Newgen Software

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.’

‘The deployment of the document management solution has allowed us to reduce storage requirements and increase data accuracy,’ said Mr. H Mahalingam, Chief Technology Officer, Equitas. ‘After implementing the solution, the company has achieved a three-fold increase in productivity.’

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.

About Equitas
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

Newgen Software Technologies Limited is the market leader in Business Process Management (BPM) and Enterprise Content management (ECM), 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 the world's leading BFSI, BPO and Fortune Global 500 companies.

Newgen is recognized by distinguished analyst firms like Frost and Sullivan as A 'Hot Company to Watch for' in their global ECM Market report, 2009 and by IDC in its exclusive report “Newgen Software: Global Leader in Business Process Management and Document Management Solutions”. Newgen is a winner of prestigious award, such as CNBC-TV18, “Emerging India Award 2008”.

With HSBC and SAP investment, Newgen is one of the rare product companies to have backing of both leading financial and technology companies of the world. Newgen’s Quality Systems are certified against ISO 9001:2008 and Information Security Standard, ISO 27001:2005. Newgen has been assessed at CMMI Level3.

Newgen Software
D-152, Okhla Phase 1, New Delhi - 110020

For Presscontact

Newgen Software Technologies Limited
Rohit Thakur: Tel: +91-11-4653 3200, Mob: +91-9899294868

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