Optimize Costs

Outline and implement a comprehensive and technology-driven strategy to optimize your costs, now and in the long term.

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Tech-enabled cost-reduction can cut indirect costs by up to 20% in 12 to 18 months.
– McKinsey & Company

Enterprises today are striving to optimize their costs without compromising on innovation or customer experience. They are looking to start small for immediate returns on investment, even avoiding a full due diligence in their technology purchase. It is critical that you not only prioritize cutting or managing costs, but also invest in a digitization strategy that aligns with your long-term goals.

You have successfully optimized your costs when

You have analyzed your operations and identified areas for improvement

You have outlined a comprehensive strategy for managing direct and indirect costs

You have automated the eligible tasks and processes within your organization to reduce your operational and administrative costs

You have invested in a scalable, future-proof technology platform to ensure long-term returns

You have implemented new-age technologies, such as robotic process automation and artificial intelligence

You track your optimization initiatives to capture impact and update your strategy

Newgen can help!

Optimize your costs with our products and industry-specific applications
Cost Optimization

eGov Office

  • Streamlined file management
  • Automated query routing and processing
  • Collaborative learning and informed decision making
  • Committee and meeting follow-ups
  • Digital signature and barcode integration
  • Compliance with Manual of Office Procedures

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Cost Optimization

Electronic Document and Records Management

  • Centralized content management
  • Comprehensive content search and retrieval
  • Streamlined information access
  • Unified, platform-based system
  • Data security and integrity
  • Compliance and risk management

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Cost Optimization

Procure-to-Pay

  • RFP comparison and evaluation
  • Self-service vendor portal
  • Omnichannel processing
  • Holistic view of underlying workflows
  • Intelligent document management
  • Unified systems and processes

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Cost Optimization

Order-to-Cash

  • Invoice and communication capture
  • Accounts receivable collection posting
  • Receivables visibility for stakeholders
  • Automated dunning
  • Continuous cash flow tracking
  • Centralized O2C processing

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Cost Optimization

Order Fulfillment

  • Integrated SOPs and checklists
  • Workflow-driven transaction processing
  • Process visibility and flexibility
  • Multiple drilldown reports
  • Alerts and notification triggers

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Where are you in your digital transformation journey?

We have compiled tools and documents to help you in your journey. Knowing that “what you see depends on where you stand,” we have something for you, as a line-of-business operations in-charge, an IT leader, or a C-level executive, for your industry-specific needs.
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At this stage, you might find that the available technology/solution is going beyond your initial expectations in terms of scope. This is also the stage of building consensus among your peers for your industry-specific needs, whether you are a line-of-business operations in-charge, an IT leader, or a C-level executive.
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This stage is all about looking beyond features and functions. After all, addressing just the immediate need can translate into “short term gain but long-term loss.” Invest in a technology that solves for your today’s needs and is extensible and configurable for your unknown future needs. As a line-of-business operations in-charge, an IT leader, or a C-level executive, you don’t want to go through the same process in another 2-3 years !
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It all comes down to choosing the right partner. Their innovation history, industry focus, local presence, support services, partner ecosystem, technology strength, cost effectiveness, customer references, risk rating, and lot more needs to be evaluated. As a line-of-business operations in-charge, an IT leader, or a C-level executive, you are all evaluating them from your unique perspectives!
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That feeling of achievement and relief after a successful, on-time, in-budget project is all what you look for. Believe us, the feeling is mutual. As a line-of-business operations in-charge, an IT leader, or a C-level executive, make sure you celebrate the milestone, recognize everyone who made the project successful, and identify your additional digital needs.
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