Drive Innovation With Modern ECM and
To accelerate their digital transformation initiatives, organizations like yours are re-examining and modernizing their current Enterprise Content Management (ECM) system capabilities. By automating your content-centric processes, you can enable innovation, worker productivity, and superior customer experience.
You need a unified, low-code digital transformation platform that allows your IT developers to rapidly develop and deploy complex, content-driven, and customer-engaging business applications.
Join us as we demonstrate how modernizing your ECM system while leveraging low-code process automation offers a more nimble and agile way to implement improvements and innovations in your complex business operations. We’ll showcase how organizations in various industries have successfully applied these strategies to achieve their digital transformation objectives.
Theresa Resek: Hi, everyone. Welcome to our webinar today. And the title of our event is Drive Innovation With Modern ECM and Low- Code. I’m Theresa Resek, vice president of market intelligence here at AIIM, and AIIM is your host and producer of our event today.
And also, joining us is Newgen Software. And Newgen is the underwriter of our webinar, and we thank them very much for their support. And thank you for taking the time out of your valuable day to join us.
Just want to offer a few tips for joining us, for participating in our event today. Just look to the chat feature. It’s in the navigation across the bottom of your screen, and just click on chat, and let us know where you’re joining from. We’d always like to see where around the world you’re joining us. That’s always so nice to hear from you.
So, please, let us know in the chat. And also, look to the chat, because throughout our talk today, Katherine and I are going to be dropping some links in there. One will be for resources. We have a lot of really cool things we want to share with you, and click on that link for the resources. It’ll open up to a webpage, and you can have access to some really great eBooks and case studies.
So, I encourage you to check out our resources, and also, we’re going to drop a link in there for a feedback survey, because always I value your opinions, value what you have to say. And the survey will open at the end of the event, but we’ll certainly provide that link throughout our event, just so you have that as well.
To ask questions to the presenters during our time today, use either Q&A or chat, we’re going to pay attention to both of those, and we’ll do our best to get to as many of those questions as we can towards the end of our presentation, our webcast time today, but do ask your questions. And this webinar is being recorded and it will be posted to aiim.org’s resources learning center in just a couple of days.
I, now, would like to introduce the panelists that we have joining us today. Peggy Winton is the president and CEO of AIIM, and with years of program, product and business development experience, Peggy is responsible for the strategic, technical and business direction of AIIM. And Peggy believes that every organization is on, or should be on a digital transformation journey. And at the heart of this journey, is the drive towards understanding, anticipating and redefining internal and external customer experiences. And certainly, what we’re going to be discussing today is right in line with that.
And joining Peggy for this discussion today is Anurag Shah who is the head of products and solutions with Newgen software. So, I’m going to turn things over to Peggy Winton to begin our talk today. Hi, Peggy.
Peggy Winton : Hi, Theresa. Thank you. So, a warm, warm welcome to you all. I’m delighted to be sharing the virtual stage with Anurag.
I think the popularity of this topic today comes with a realization that one of the harshest business lessons to emerge from the last 18 months in the crisis we’re still very well in is a recognition and an acknowledgement that organizations failing to put their digital transformation efforts on steroids and to really accelerate those have not, or will not survive.
We’ve learned a lot of things over the past 18 months, but that’s one of them. And digital transformation, which, for many organizations is as simple as just upgrading or updating their legacy systems and a lot of holdover legacy processes, even those things are no longer nice to have, a luxury item or even a long term strategic goal. They really become immediate and business imperatives.
I think there are three converging and lingering effects from the events of last year and going into this year. You’ve heard me talk about it before, but they are particularly poignant and they particularly influence this drive towards modernization. The first is information chaos. I think you’d have to be living in a cave if you don’t feel that. That Increasing, not only volume of information, but variety. It’s swirling around our organizations, whether our workers are completely distributed or not. And certainly, the whole remote work and distribution with new accesses to information is just compounding that.
And it’s only going to get worse. You might remember that we regularly ask the AIIM community to look at their own organizations and think about the volume of information by how much do you think it’s going to grow, and it’s almost five times in just the next two years. That’s just incredible. And we’ve long since lost the ability to truly, not only manage it, but also, leverage it in the value that’s there.
The second factor or driver is that that pendulum that swung so wildly in the direction of remote work exposed a lot of weaknesses in content collaboration and accessibility. Manual processes were all too prevalent and really stymied a lot of continuity efforts there. And finally, as if that wasn’t hard enough, our customer expectations are more and more, they’re more demanding looking for convenience and availability in the design, and also, deliverability of the products and services that we produce. It’s all faster than ever before.
So, I think the collective impact of these three factors is a rising recognition of the weak points. In information strategy, we’ve talked a lot about that recently, but today, we’re going to talk about weakness in information management ecosystems, what are the things that are supporting what we’re trying to do, or should be supporting that?
And I think we can all say that a traditional monolithic ECM system with this obsession, or belief that there could be a single content repository just won’t cut it anymore. And 92% of you agree and say that your organizations really must modernize their approaches in order to meet these new challenges.
Anurag, you and your colleagues at Newgen, obviously, work with a variety of customers that are probably still supporting, and I might say even propping up legacy ECM systems. So, let’s talk about that first. What do they typically look like in terms of functionality, or maybe a lack thereof, and talk to me about some of the limitations there.
Anurag Shah: Yeah, sure. First of all, a very warm welcome to all our participants. And Peggy, you summed it up so well, what happened last year and how those changes that enterprises had to do over almost overnight when that pandemic hit us.
So, if we really look at over last, let’s say, I would say, maybe go back 30 years, if you look at the early and late ’90s, most of the enterprises focused mostly on optimizing their costs, and that’s how they looked at document management, we used to call it document management those years, which has, today, become content and all of those.
But the cost optimization was the focus for most of the enterprises in that ticket, 1990 to 2000. Then, comes the turn of the century, and enterprises started looking at bringing in efficiency, and they started looking at the document management and content management from that perspective, that how can it bring efficiency in their operations, in their services that they’re extending to the customers in the way their employees are working.
Fast forward 10 years, and the decade of 2010 really brought in what intelligence can be brought out from those content. Enterprises were managing the content well, they had the documents and all of those things, but now, in last 10 years, they were looking at how can this enable them to provide intelligence, to provide that contextual intelligence in the way they are… In the context in which they are serving their customers, in the context in their employees are working. And today, with 2021 post pandemic and during pandemic year last year, everything today has become about experience.
So, from the cost optimization to efficiency, to bringing out intelligence from your content, today, the enterprises are looking at what kind of experience are we extending to our customers, when we are serving our customers, and we are collaborating with our partners, what kind of experience our partners are getting. And not to forget, all our back office and internal employees’ operations, when they are working, ultimately, those are the people whose work are getting transformed into an experience for the customer service. What is the experience for my internal employees?
So, that’s where the experience is too. So today, the enterprises are almost razor focused on serving the customers with the speed, agility, by rapidly developing those customer-centric business applications, irrespective of the vertical, be it banking, insurance, shared services, what are those business applications, which are required and how fast, and last year, we saw almost every week, every month, organizations coming out with the things applications which could do this for their customers.
And in that pursuit, the experience that they were looking to extend, they looked at it from the two factors. One is the engagement, what is the engagement with the customer? What are the channels of the engagement? And the second is the expectations. You talked about it, Peggy. So, first of all, what is our understanding of what the customers are expecting, and how are we managing that expectations? And that is not static. The expectations are changing from what it used to be last quarter, what is today, and it is bound to change tomorrow.
So, that’s where we see where we have come from. Peggy.
Peggy Winton : What components, then, or characteristics from a systems perspective, do you think have to be present in order to deliver on this and the expectations? What are current and legacy systems holding us back with?
Anurag Shah: Yeah. And again, there are multiple factors which have kind of matured, transformed over last period of 25 years or so that we talked about. So, what we used to call traditional content management or document management, and then, it turned into content management, and today, the likes of Gartners and Forresters, they… And AIIM itself is calling it modern content services platform. And we, product to companies are also doing the same.
If you look at where traditional content management has transformed to the content services platform, the focus has shifted from just managing the content to almost pervasive utilization of the content. It is no longer I have so much of document, so much of scan, so much of this, and here is my repository. It is about how and when am I going to utilize what I need.
The human interventions have given ways to leading technologies like artificial intelligence, machine learning, getting that cognitive services out of the content. I mean, if we look at, let’s say, a insurance company, if it’s a life insurance company, there is a life of the policy which is being managed over a period of 20 years, 30 years, 40 years for the life of the policy.
In those many years, there are numerous hundreds and hundreds of interactions with the policyholder. There are hundreds and thousands of documents, content, form, engagement, calls, in person visits, all of those are collected. And then, when you are getting a new service, and if you need to refer to one of those, how are you not, only able to go back to that content, but in the context of what your customer is asking today, how are you going to bring that context from the content, irrespective whether it is five years old or 10 years old, I talk about intelligence.
So, those are the artificial intelligence and machine learning thing. The paper-based documents have, obviously, given ways to electronic email, fax, portal. But more than that, today, a lot of these things are turning into audio and video. We are here on a video webinar. Similarly, the customers are on video and audio chat and interaction with the enterprises, and they would just say what they want. They may not even write an email or write a document. How do you take that content out and process it?
It used to be internal workflows in back in the years, where document comes in. It goes through two or three or five or 10 steps internally within the department end users who would process those, those have almost become a collaborative effort. The customers and the partners are now participating into that process. There are steps which customers does, and they expect that, seamlessly, it’ll move forward within the enterprise and whatever needs to be done with whatever departments, they will do it. The single cohesive repository has turned into federated repository.
Peggy, you touched upon it, that it is no longer one space where everything has to be. You have email, you have databases, you have file shares. Over a period of years, if you are large enterprise, you would have purchased or acquired multiple document management repositories. So, all of those, you need to connect all of those.
So, those monolithic architectures and self-contained systems have given the ways for more modular and service-based, microservice-based architecture.
Peggy Winton : Yeah. Well, that is an absolutely perfect segue, because one of the obvious culprits in information chaos, if organizations are going to rethink their outdated, not just approaches, but their systems as well, the obvious culprit is manual processes. It seems so obvious to people, and yet, it’s really hard to get started if they want to embrace rapid change, spark innovation and drive those kinds of results that you just described, that our customers are demanding.
So, to me, an obvious way to get started in thinking of modernization is to transform key business processes. You said the word seamless, and that is the ideal. That is the aspiration. It’s obvious, but it’s not always easy. When we ask our community members, where do you face the biggest challenge in dealing with information chaos, and then, trying to automate some of these processes, they say that it’s where content meets processes. And I think that’s a great place for us to focus right now.
When we talked a few weeks ago, Anurag, I remember you’re saying that, last year, in the rush to accommodate distributed workforce and workplaces, people got disconnected from their processes. Obviously, we know if they were no longer tethered to the mothership in one physical office, that could happen, but what do you mean disconnected from their processes? Can you explain what you mean by that?
Anurag Shah: Yeah. And, obviously, it was apparent to the services in the last year, more than years before, but during COVID, the business scenarios changed, we all have seen it. The employees were asked to work remotely from their home, people started avoiding touching papers, they were wary of those. Customers wanted the services from the comfort of their homes as well. They were also working and being at home most of the time.
So, the businesses needed to enable that online and secured, not only online, but secured. That was very, very important for the businesses. Secured information access. And enterprises started investing, again, overnight in the critical and cost-effective solutions. It started looking like business may never be as usual again. And the disconnection that we talked about, Peggy, primarily, we saw that caused by three factors in the virtual world that we started living since last year.
First of all, lack of contextual engagement. Just by having online and omnichannel, being able to reach out to customers through portal, through mobile, through call, that was no longer sufficient. To be able to bring the content into the context, what is the reason why customer is talking and engaging with us? That became one of the reason.
The second reason which we saw is the silos of the information, the disjointed processes, the disjointed systems, people who are no longer in office, they just couldn’t walk up to another people’s desk. It led to a standalone functions. People sitting in home, remote. It almost became standalone functions operating in silos. It induced a lot of friction in customer engagement. And third, the inordinate high IT dependency. We saw that more and more demand of app development started coming in. Ultimately, not only in last year, but even going forward in the months and years to come, this is going to choke the IT boundary.
So, these are the three factors we see, we saw, at least, causing that disconnection in the virtual world last year.
Peggy Winton : You know, a lot of our users, Anurag, say that, simply, managing the documents and content necessary for them to just get their job done is a problem. And one of the reasons we’ve identified is that, you mentioned apps, and 54% of the information that really interests frontline workers and executives, usually, information about customers, that intelligence that you alluded to earlier. It’s stored within the business application itself, rather than in this dedicated content repository.
So, what’s the Newgen approach for integrating content into core business processes? Because that’s where the sizzle is, that’s where the customer engagement, but also, the customer intelligence is. So, what’s your approach?
Anurag Shah: Sure. And to that point, let me show you one slide, a couple of slides to explain…
Peggy Winton : Okay.
Anurag Shah: Are you able to see my slide?
Peggy Winton : Yes.
Anurag Shah: Okay. So, if you see this, this is a quadrant. I mean, where the horizontal access starts from left to right, from simple to complex information. Enterprises are processing simple to complex type of information. And on the vertical access, if you see from bottom to top, from simple and departmental business processes, it moves to complex and enterprise-wide business processes.
So, those are the two axes on which we try to plot what is happening where. So, if you start from the lower left quadrant, for processing simple information, simple departmental business processes, there are platforms which are almost like pure play, low-code application development platform. But when you include certain content into that, if there are documents, emails, and content which participate into those processes, it tends to make the information a little bit complex, and that’s where you move to lower right to quadrant where there are traditionally strong content management platforms, which serve those needs.
And then, when you move vertically up, if it is still a simple kind of information, but it is enterprise-wide implementation spanning across multiple departments, multiple users, you see those traditionally business process management and automation platforms coming in. It is the right top quadrant where, if we look at those complex-content heavy processes, let’s say banking, account lending, retail loan origination, commercial loan origination, and insurance like policy servicing, policy issuance, underwriting, credit, risk, those are the areas in which there are a lot of data which participate into it, a lot of processes, a lot of rules and logics. And that’s where the comprehensive digital platform, transformation platform comes into the picture.
Let me take you to next slide where… And that right top quadrant, what I saw, that’s where really Newgen brings in its new and one digital transform platform, which is a unified and a natively-built process automation, content services, and communication. I’m going to touch upon this shortly. But this is the platform which, globally, enterprises are using to quickly develop, quickly deploy those complex content-centric and customer engaging business applications on the cloud.
And if you see, from the use cases, could be from customer onboarding to service request, to leading the underwriting, and we talked about banking, we talked about insurance. So, all of those processes, not only we are able to bring those content into the process, but also, we are able to unlock those simplicity into the process. There are no longer those heavy spreadsheets and those things that the user will have to go through to do what they do. Bringing in those rules, bringing in those data within the interface that we present to the users makes it simple.
And let me, again, plot the same graph which we saw on the previous slide. If you look at it from the digital transformation perspective, again, that right quadrant that we see here, that is where you are managing your content, you are managing your process, and you are bringing in all of the customer, your employees, your partners. I mean, if we look at, let’s say, a commercial loan origination process, there are partners who are contributing into your process. There are appraisals, there are credit, there are risks which are coming in. And then, there is customer borrower who is providing all of those financial information and those things.
So, the entire collaboration of the content, managing that data, creating that logic on the data, and then, assisting machine learning based on AI, artificial intelligence based to assist to the human, to really make the human and knowledge worker on the content and on the process.
Peggy Winton : Well, I want to talk, Anurag, a little bit later about who’s really driving this. I mean, we see that the process owners at the frontline with their customers are leading some of the most impactful content-driven modernization initiatives, and that’s really been the big push behind low-code. You mentioned low-code here, and I hope that our listeners know that that refers to all types of work, not just structured and repeatable business processes. Workers are seeking process platforms that are just more nimble and agile. And as you said, not only spreadsheet-dependent, but also, not waiting for this long IT queue.
So, I want to ask you, often, we hear the term low-code and citizen developer in the same sentence. And, certainly, there are many low-code applications and platforms out there that are simple to use, but what you’ve described here, and I know you’re going to get into more detail is embraced equally, or even more so by seasoned and professional IT folks. Because we’re talking about some really complex processes, and they’ve got to have the skills to truly optimize it.
So, explain low-code at work in a sophisticated and professional way, Anurag.
Anurag Shah: That’s a great question, Peggy. And yes, the low-code, as much it is a buzzword today, but it is certainly creating two distinct and different perception in the eyes and ears of the enterprise, and more so, in the CIOs and the COO’s line of site.
So, there are simple and a lower complexity use cases where low-code fits well, and then, there are those complex and content-centric use cases where the low-code must include additional capabilities. And on the screen, that you see those three pillars, the content, pillar of the content, pillar of the process automation and the pillar of the customer engagement. These are the three pillars, which kind of combined into NewgenONE low-code. And I’m going to take a couple of examples here.
Let’s say an online account opening for banks and credit unions, which kind of became bread and butter in the last year when the bank branches and credit union branches closed, and they still had to reach out to the customers, all they had to do, all they had were how can they do all of these things online?
And if you look at a typical process of account opening, the customer submits their demographics, name, email, social, address, the banks and credit unions just need to do those ID authentication verification that, yes, you are who you are, you live where you say, and your social is your social, and those kind of things, they do certain checks like fraud, the OFAC, the blacklist, those kind of checks that you are good.
And then, there must be a straight through process to capture all of those data, create the account, and allow the customer to do that online funding using multiple like debit card, credit card, or utilizing third party aggregators to do the direct debit from the other bank accounts.
So, if you look at this entire journey, there were certain experiences which were required to be configured for the portal, and then, there were certain ones for the discrepant ones, exception cases that could go into somebody’s queue in the branch or the credit union’s back office, working from home or remote. It is easy. You could configure all of those data points, you could build those few screens and the low-code can perform well.
Now, extend this example into the commercial loan origination system that we talked, that I was referring earlier, where the borrower is a construction company and they are trying to, let say, build a skyscraper in New York Manhattan and they need $10 million of loan, $20 million of loan, $50 million of loan. So, what really happens in that? The borrowers or the business houses, they would submit these loan application, but along with that, they are going to submit their profit and loss account.
They’re going to submit their financials, their balance sheets. The banks have to do their due diligence, they have to do entire financial analysis. They have to do the spreading of last five years, seven years, how their businesses have performed, what are their governance, insurance, taxes? What are their cash flows? What are their risks? All of those things.
So, it required thousands of data elements to be processed, multiple systems to be integrated. The banks and credit unions would hire those third party vendors like appraisals, like evaluation companies to do those property evaluation, all of those things, flood appraisal, earthquake, hurricane, several, several aspects.
And then, all of these are required to be fed into an underwriting system where the credit analysis and those things will happen. At the end of it, if everything goes through, there are tens and 20s of those closing documents which are required to be generated. And if it is a high value loan, there are attorneys who are participating into the process.
Now, if you take all of these things into a process and try to do this unification, this is where the low-code needs all of the three pillars that you see on the system, on the screen today, to be able to seamlessly plug and play. Not having a multiple acquired product struggling to integrate with each other, not able to intrinsically utilize 100% capability of individual products, but you need a platform which is seamlessly plugged and played. Do those content classification, do that process thing, build those hundreds of rules, do those logics, do as much automation, as much straight you could, and then, present it to your users as a knowledge user, as a decision maker, as a exception resolver, as a discrepancy management.
So, that kind of a thing is what we have seen creating that difference into the simple development low-code versus sophisticated and IT involved, still, low-code. And mind you, I mean, any big bank or credit union or insurance company may have an army of IT organization, and anything and everything is possible in this technology world. We could write the codes from grounds up and do whatever we want, but do we have the luxury of that time, that effort and the cost?
And that’s where low-code with this sophistication, to manage that complex process and the content comes into the picture.
Peggy Winton : So, I know you’re going to share some other examples of customers and other applications, because I think that’s really important to zero in on what are some of the actual business application, where is some of the pain, what is some of the results and the ROI. I have to ask you, who is your typical customer? Is it the executive? Is IT?
Or are you finding that you’ve got super users who want this customer intelligence on the frontlines as your best sort of customers or your best champions when you all go in and talk to folks?
Anurag Shah: So, I would say that it is a combination of the chief operating officers and chief information officers organization.
Peggy Winton : Okay.
Anurag Shah: And those two organizations are, we would say, we have seen increasingly in last year, we have increasingly seen these two organizations bridge together by, somebody calls it chief digital officers organization, or chief marketing officer organization. So, again, going back to that experience thing, right? The enterprises are looking at that digital experience. They’re trying to project the entire company as digital. And to do that, there is operations and there is this IT.
Now, the COO’s mandate is, keeping the cost low of their operations, how can they extend that digital experience? And to enable that, there are systems and there are applications, which IT is managing. So, to answer your question, Peggy, the users are always from these three organizations that look for systems like us.
So, again, for example, there is this insurance organization who are dealing with the closed block variable entities, and they’re the COO. It’s US-based insurance company where we implemented our NewgenONE platform. And we automated more than 150 different workflows managing more than 200 million documents for the terabyte of content migration, all of those things, flat in eight months.
Now, the COOs mandate was that how can… They were living with 150 workflows before Newgen and his mandate was how can everything become rationalized, can become simplified and how can it become a digital for their policyholders? Now, minded, they were serving needs, the services requests of types ranging from financials to non-financial, to claims, to administrative. The policy holders, the customers may come in through call, through email, through portal, through forms, written-hand documents.
Peggy Winton : Yeah.
Anurag Shah: How do you classify all of those things, put it in different buckets? What can be done straight through, process it, go back to the policy holder, communicate that, all of those things were transformed, and then, integrate with multiple underlying policy admin systems.
So, this insurance company already had two different policy admin systems, different claims system. How can integrating all of those, bringing all of those data in one interface so that the operations, the employees who are engaging with customers do not spend time flipping through the screens, flipping through the applications, and not keep the customer on hold and not delay the process? Peggy.
Peggy Winton : Yeah. I think people call that swivel chair processing…
Anurag Shah: Yes.
Peggy Winton : … because you have to stop and evoke something else.
So, Anurag, we’ve got less than 10 minutes, believe it or not, left. I know you’ve got a few other things you wanted to show us and some other workflows and things, so I’ll let you prioritize… Oh, yeah. That’s great, because we can see several different use cases. Talk us through this one a bit.
Anurag Shah: Yeah. I mean, it’s a busy slide. I just wanted to give the breadth of the use cases which can be done on a digital transformation platform, be it on in a capital market and wealth management, for your customer onboarding, for your advisor onboarding, client reporting on the wealth and the investment that the high net worth individuals would have done. Different days, they would ask for different types of report on their investment, different views. Look at banking, starting from deposit to lending. The consumer lending, small business lending.
I mean, in last year, Fed came up with that stimulus of paycheck protection program for keeping these small businesses in business, and not go out of the business. Those kind of small business loan origination and commercial loan originations. I talked about trade, finance, treasury management, compliance-related issues. And then, in insurance, right from the policy issuance, which requires electronic code generation on the portal, on the mobile, to taking the application in, underwriting it, medical underwriting, nonmedical underwriting, property and casualty, property evaluation, be it auto, home or any other thing.
And then, taking it to the claims when the time comes for claim, how can you tie it all back to the claim for that seamless… Again, seamless is keyword there for the policy holders, and sometimes, or more often than sometimes, there are brokers who are engaging with these insurance companies on behalf of the policyholders. They are trying to extend the service to the policy holders because they are the ones who probably sold the policy in the first place. So, how can you bring in the broker as your partner within this entire process, starting from the policy selling to the policy servicing and claim.
And then, if we look at cross industry enterprises, those shared service organizations, processing invoices, accounts payables, receivables, managing the contracts for your suppliers and vendors, managing your internal employees, HR-related processes and all of those things. And if you really see the workflows, which can be defined on the same platform, whether you want to service your customers or you want to support your partners, you want to respond to your vendors and suppliers, and then, your own employees. No matter how much you want to do to the external world, it is your internal employees you need to keep them.
Peggy Winton : So important. When we say customers, we mean internal as well as external customers. You are so right. And the whole change management aspect of everything comes into this.
I was struck, Anurag, by the previous slide and the different business applications. This is not pipe dreams, this is everyday work. And yet, it’s the source of angst for so many workers. So, let them work on innovation and high value work versus the drudgery.
Anurag Shah: Yeah. Sure, sure. And there are certain resources which our audience can take benefit from. I have just put two or three here, but there are more which are getting dropped right now in chat, and will also be available to download. Those will be helpful. Those would go into much more detail on the topics that we touched upon, on the topic that, Peggy, you brought on.
And I may just take another couple of minutes to give a little bit sneak peek on the NewgenONE platform. I took it through one of the slide earlier where you saw those three pillars, but if you really look at the platform from the bottom, it includes that content and communication. And then, on top of it, it brings in the business process automation layer.
And then, it combines all of these three to create that low-code application development platform, or framework, bringing in, again, the leading technologies like artificial intelligence, machine learning, to provide that intelligence that automation and that analytics, predictive analytics, into the process or the application or the deployment that you are doing on the low-code application platform.
And all of these to do what? To give that multi-experienced user interface for your industry applications, across banking, financial services, government, public sector, insurance, shared services. We talked about it. And while you are doing all of these integration and being in the ecosystem is most important. How can you bring all of the core systems, the underlying business applications, the external peripheral, ancillary systems, how can you integrate all of those into the ecosystem? And the enterprises are moving from on-prem to cloud.
So, to be able to do all of these things seamlessly onto the cloud. And a quick glance on the recognition of NewgenONE platform by various analysts, so we are there, I mean, the Gartners and Forresters and Aspire Leaderboard. And this platform has been recognized, consistently, I would say for more than 13 years in different magic quadrants, Wave reports, and so on and so forth.
Peggy Winton : You’ve earned your chops there.
Anurag Shah: We tried hard.
Peggy Winton : Anurag, it looks like… Yeah. We’ve had lots of chat activity, but no direct questions. I think an interesting question, we won’t put you on the spot today, Anurag, but I know we’re going to be talking some more, and having you as a guest in a few months. I love your analysis of the different eras of document content management from cost-reduction to efficiency optimization, then, to extraction of intelligence, and now, experience and customer experience. What comes next?
Anurag Shah: Well, if you look at… 2021 is already here, 2020 has gone by. So, if you really look at the way it has transformed into the, what we call, what we are calling either experience or we are calling digital transformation, we are seeing that modernization. Peggy, you talked about right in your initial note. Modernization of the content services is the integral and right first step. There is absolutely no doubt about it.
It does not really mean rip and replace everything. It means you need to have… if you have, let’s say, legacy living for 20 years, 30 years, that’s fine. But you need a mechanism to modernize that entire thing, with preparation, with everything. But in addition to that, the whole digital transformation must be looked in totality. It must include the customers, the partners and employees.
And when you are doing all of these things, no matter what application you are developing, whether it is fulfilling one small hole in the overall process or overall process automation, looking at it from the totality of all the participants of all the content of all the process of all the systems, those three factors that I earlier talked about contributing to the disjoined, disconnection into the process, the content and the context, the information silos and the IT dependency for the app development.
So, those three, if we are able to take care, that’s, I think where the future holds for us.
Peggy Winton : And that is a wonderful way to wrap up. You have been listening to Anurag Shah from Newgen. Thank you so much for spending time with us, for your generous contributions to our educational efforts. Thanks to all of you for, once again, spending your afternoon or late evening, or maybe even early morning. Looking at our chat, it looks like we’re running a united nations here, and that’s the way we love it.
Please, take advantage of all these resources. Don’t fear. This has been recorded. And we will make sure you have access to it. Give us about 24 hours to do that. Thanks for taking this survey. And we look forward to seeing you next time. For AIIM, this is Peggy Winton. Thanks again.
Anurag Shah: Thank you so much. It was a great conversation with you, Peggy. Thanks a lot.
Peggy Winton : And you. See you next time.
Theresa Resek: Thank you. Bye-bye.