Newgen Software Technologies, a product company focused mainly on the business process management (BPM) and enterprise content management (ECM) spaces, besides customer communication management (CCM), is gearing up to further strengthen its overseas revenues, as it expands its base in the North American and APAC regions, besides West Asia and Africa. The company is also confident of going public in next two years to rapidly grow its revenues across regions, globally.
“We are unique product company with a little over two-decade presence. As is the case with most product companies from India, it takes time to enter new markets and establish a long-term presence,” Diwakar Nigam, managing director, Newgen told FC.
“We are basically an enterprise product firm and hence our focus has been on banking and telecom, besides insurance and government bodies. While the products in the ECM and BPM space can be used in any vertical, we have been focusing on key verticals to generate higher returns,” he added.
Until three to four years ago, Newgen was generating about 70 per cent of its revenues from India and about 30 per cent from overseas markets. “Thanks to our aggressive focus on the overseas opportunities over the past couple of years, it has simply reversed. We get about 70 per cent of our returns from abroad,” he said.
Newgen is enthused by the fact that IDG Ventures and Ascent Capital have together picked up a minority stake in the firm, including buying out an earlier investor. “Ascent Capital has a history of helping other firmss to go public,” Nigam said.
The company is said to have closed the financial year 2013-14 with a turnover of Rs 250 crore and expects to increase this to about Rs 325 – 350 crore in the current fiscal.