Technology and business have become synonymous in the past decade. Business leaders constantly look for disruptive techniques to enhance efficiency in daily operations. They understand the need for innovative solutions and nurture the same to gain a grip on the business and technology sphere. A well-experienced and knowledgeable business leader sows seeds of these elements to add value to his clientele. Ritesh Varma (Head of the Business Solutions Group), is one such leader who likes to innovate and craft disruptive solutions.
Ritesh Varma has over 25 years of experience in business technology consulting and solution sales. He implements a multifaceted skill set that is applicable across various industries. His journey in becoming the Head of Business Solutions at Newgen Software is rooted in his passion for driving business growth and leveraging technology to create tangible value for clients. Throughout his extensive career, he has successfully developed and executed business strategies that have driven revenue growth, market share expansion, and profitability across diverse sectors.
Classic Entrepreneurial Mindset
Ritesh Varma’s proficiency extends to various industries, such as banking, financial services, insurance (both life and general), and shared service centers. By nurturing an entrepreneurial mindset and efficiently using technology consulting skills, he has developed innovative strategies that align with Newgen Software’s goals of driving digital transformation and delivering impactful solutions across various industries. Moreover, his leadership approach emphasizes mentorship and cross-functional collaboration, enabling teams from different backgrounds to thrive and deliver exceptional results.
Innovative Curated Solutions
Newgen Software specializes in providing comprehensive solutions for digital transformation in the Banking, Financial Services & Insurance (BFSI) sector. It takes pride in imparting innovative solutions that help clients streamline operations, enhance customer experiences, and stay ahead in a rapidly evolving digital landscape. The company’s offerings include:
- Enterprise content management
- Business process management
- Digital journey orchestration
- Customer engagement solutions
The Low-Code Approach
In navigating the diverse market landscape, Newgen Software leverages two key strengths: industry experience and its low-code platforms. The solutions are crafted on low-code platforms, enabling rapid customization and deployment tailored to each client’s specific needs. The combination of deep industry experience and the platforms’ flexibility sets it apart from the competition. It offers 70-80% ready industry-based solutions that serve as a solid foundation for customization.
While some conventional leaders take time for months to deliver on specific requirements, Newgen’s low code approach allows it to respond rapidly, often in days or hours. This sharpness is required to meet the unique requirements of different clients across industries. It ensures that the company delivers tailored solutions that drive substantial value and accelerate the clients’ digital transformation journey.
Imparting Value
Newgen Software’s approach is beyond traditional methods and incorporates the entire business solutions journey. The aim is to be there from initial engagement to implementation and derive measurable results. The strategy revolves around grasping the unique needs of its clients across industries and delivering comprehensive solutions that drive tangible value. This approach aligns seamlessly with the company’s overarching goal of empowering organizations to leverage technology for digital transformation and business optimization. Instead of being sales-focused, this strategy emphasizes the importance of delivering results and driving the adoption of solutions.
Newgen Software has faith in partnering with clients throughout their digital transformation journey, from conceptualization to implementation and beyond. To provide relevant and impactful solutions, the company merges client feedback into the solutions. Ultimately, the goal is to enable organizations to harness the full potential of the formulated solutions to achieve business objectives and drive sustainable growth.
Leveraging New Tech for Better Solutions
The evolving technology landscape presents both challenges and opportunities for the pre-sales function at Newgen Software. The company stays in the vicinity of the emerging technologies and market trends as it realizes the challenges that the technology sector puts forth, in terms of keeping the solutions relevant and competitive. However, it also opens opportunities for innovation and gaining a competitive advantage. Adopting new technologies to address the evolving customer needs and market demands helps it to do so.
Financial institutions are always seeking to modernize their processes to bring efficiency and agility. Newgen Software addresses these challenges by not just streamlining the process but bringing a differentiating factor that helps it to stand out from competitors by addressing the unique requirements of the client. The teams closely collaborate with the clients to identify the business gaps and objectives. It is through active listening and empathetic engagement that the company designs tailored solutions that can address the clients’ immediate requirements and provide long-term value. The client-centric approach is pivotal in securing the client’s trust and commitment, setting the stage for a successful partnership.
Broad Approach of the Team
The implementations span across multiple geographies, and in such cases, preserving the original solution while catering to the local nuances and norms is a major achievement. This requires amalgamation of technology with functional expertise to drive business outcomes effectively. The team at Newgen Software excels in navigating these complexities and ensuring seamless deployments across diverse regions. By diving deep into the client’s goals and intricacies of each market, it crafts solutions that not only meet regulatory requirements but also optimize operational efficiency and user experience. This holistic approach showcases the company’s technical prowess and underscores its commitment to delivering solutions that truly align with the client’s business objectives, regardless of geographical boundaries.
Collaborative Team Effort
Alignment across teams, including technical experts, functional specialists, and customers, is paramount to achieving overall business success. In a product organization like Newgen Software, the pre-sales team plays a pivotal role in understanding and translating customer requirements into actionable insights that drive product development and innovation. However, it’s essential to recognize that no single individual possesses all the expertise required to address complex challenges comprehensively. Therefore, collaboration among diverse teams is crucial.
By bringing together technology experts, functional specialists, and other stakeholders, the company leverages collective knowledge and insights to develop holistic solutions that meet the diverse needs of the customers. This collaborative approach not only ensures that the solutions are technically robust and functionally relevant but also fosters a deep understanding of customer pain points and objectives. Such a collaborative approach enables the organization to deliver value-added solutions that drive customer satisfaction and contribute to overall business success.
Imparting Automation for a Better Experience
Technology has been instrumental in enabling customers to achieve a seamless experience across various touch points. By adopting solutions such as Low Code, AI, and ML, Newgen Software empowers customers to automate manual processes, streamline operations, and enhance customer experiences. The technology solutions empower customers to enhance efficiency, agility, and customer satisfaction, whether it involves improving loan origination processes, optimizing trade finance operations, or advancing digital journey orchestration.
Tangible Business Results
Staying ahead of industry trends, particularly in the realm of digital transformation, has been integral to Newgen Software’s success. The company’s commitment to innovation and robust digital base framework has positioned it as a leader in driving digital transformation initiatives for multiple clients, especially in India. Foreseeing market trends and proactively adapting solutions to meet evolving customer needs, the company has been able to stay ahead of the curve and deliver cutting-edge solutions that drive tangible business outcomes.
Whether it is revolutionizing loan origination processes, optimizing trade finance operations, or enhancing digital customer experiences, the digital-first approach has enabled the company to make a significant impact across various industries and client segments in India. The relentless focus on innovation and digital excellence helps the company to be different and drive continued success in the market.
