Famed worldwide for its never-ending supply of resources in human labour, India, in the last decade, has bolstered its credibility in the software industry as well. As per Research and Markets, India’s Software Products Market was valued at USD 43.1 billion in 2024 and is expected to reach USD 101.64 billion in 2030 with a projected CAGR of 15.2 percent through 2030.
This, however, wasn’t the case three decades ago.
In 1992, Diwakar Nigam and T.S. Varadarajan synergised their vision of ‘One World, One Workplace’ to form a software company in India. While there were several problems, the biggest hurdle the company faced was the market perception. Almost no one was ready to trust a software company from India to do their job. But Newgen managed to beat the odds by flipping the challenges into opportunities.
Today, 32 years later, it’s a leading provider of a unified digital transformation platform with native process automation, content services, and communication management capabilities. The Delhi-headquartered company boasts of 22 offices currently, spread across the US, the UK, Canada, Middle East, Singapore and India.
In an exclusive interview with Connected to India, Pramod Kumar, Head of APAC Business, Newgen Software, spoke about the company’s past, present and the future.
Pramod has been with Newgen for 25 years. Reflecting on his journey, he says two words come to his mind: “gratitude and pride”. “I joined Newgen during its formative years, stepping into an organisation that was brimming with potential and ambition. Over the years, I’ve had the privilege of working in diverse roles – from heading R&D and new Products & Solutions to managing Marketing, Corporate Strategy & Planning, and leading the APAC Business.”
Newgen entered the Southeast Asian market a decade ago. Pramod said the move was “driven by a blend of ambition, opportunity, and strategic alignment with the region’s unique needs”.
“As a global software company, Newgen has always harboured the aspiration of expanding to 100 countries. After solidifying our presence in India and other regions like the Middle East and Africa, the question was: Where next? Southeast Asia stood out as a vibrant region with immense potential as it was a dynamic mix of developed and emerging markets,” he said.
He says the expansion was shaped by a few key factors, starting with market similarities and growth potential. Pramod says Newgen, having successfully navigated the complexities of emerging economies in India, recognised a familiar pattern in SEA’s business challenges. Countries like Indonesia, Vietnam, and the Philippines were on a growth trajectory, with organisations facing the same need to modernise operations and digitise processes. At the same time, developed markets like Singapore and Malaysia offered opportunities to showcase the Newgen’s versatility. “This duality, catering to both developing and advanced economies, allowed us to tailor our offerings to meet varying needs, creating a win-win scenario,” he says.
Pramod says Singapore played a huge role in Newgen’s success in the SEA region. “As one of the most advanced economies in the region, Singapore combined a compact market size with a strong commitment to digital transformation. While its small scale posed challenges for market penetration, the government’s emphasis on robust records management aligned perfectly with Newgen’s capabilities. By meeting Singapore’s stringent regulatory standards, we successfully positioned our solutions in the government sector. This not only strengthened our reputation but also established Singapore as a strategic launchpad for broader regional growth,” he adds.
From ‘One World, One Workplace’, the company’s vision has also expanded to “We are THE ONE for your unified digital transformation platform needs”, in the last three decades. Today, Newgen doesn’t only offer products; instead, it claims to simplify the most complex business processes by combining the power of process automation, content services, customer engagement, and intelligence.
The growth is due of the groundwork laid by its founders, Pramod says. “Their commitment to innovation laid the groundwork for what would eventually evolve into Enterprise Content Management (ECM), Low Code Business Process Management (BPM) and Customer Communication Management (CCM).”
The move to the Southeast Asian market has also had a significant impact on Newgen’s growth. As per Pramod, SEA now accounts for approximately 15 percent of Newgen’s total revenues. “This is a remarkable achievement considering Newgen’s consistent compound annual growth rate (CAGR) of 25 percent year-on-year. This success is built on a series of standout moments and milestones that have shaped our journey over the past six years,” he says.
Asked to list important moments in Newgen’s journey, he puts the recognition by Forbes Asia, where the company was named in Asia’s 200 Best Under A Billion list, at the top. As per Forbes, Newgen’s current revenue stands at USD 150 million.
He also puts Newgen securing the largest deal with the Singapore government as one of the big achievements. Others include leadership in the Philippines market and the widespread recognition by means of adoption by leading regional banks & insurance organisations.
Pramod says the company is able to establish itself and standout in the region due to its ability to combine innovation, flexibility, and a deep understanding of the region’s diverse business needs. “Our unified, low-code platform offers a comprehensive suite of capabilities, including process automation, content services, communication management, and artificial intelligence (AI), to help businesses accelerate and scale their digital transformation efforts,” he adds.
When asked what industries or sectors in SEA does he see as having the greatest demand for enterprise content and digital process automation solutions, he says, “While Enterprise Content Management and Digital Process Automation solutions are relevant across all industries, certain sectors in Southeast Asia, particularly banking, insurance, government, and large conglomerates, are driving the highest demand.”
He says regulatory mandates are a key driver in the government sector. “For example, the Singapore government’s strict standards for Records Management and the Philippines’ Digicur mandate for content management are creating strong demand for solutions that ensure compliance and operational efficiency.”
Pramod explains that the COVID-19 pandemic has also significantly accelerated digital transformation initiatives, especially in the insurance industry. “As organisations adapted to remote operations and increased digital interactions, the need for automation and enterprise content management solutions became more urgent,” he says.
Talking about the future, he said Newgen is committed to sustaining the hyper-growth phase that it has experienced in Southeast Asia while focusing on strategic priorities that will drive innovation and expansion. “Our vision for the region is rooted in building upon our successes and delivering transformative solutions tailored to local needs.” One of the priorities will also be to expand its footprint in Hong Kong, and embracing the power of low-code and artificial intelligence (AI).
Asked about his takeaways, he says, “The two greatest lessons that I’ve learned at Newgen are the values of passion and perseverance. These principles have been my compass, guiding me through both challenges and opportunities. They have taught me that success is built on dedication, resilience, and a genuine love for what you do.
“If there is one constant for me since I joined, it’s the unrelenting pursuit of learning. From the day I joined, the drive to acquire new knowledge and grow, both personally and professionally, and it has been at the core of my journey. This commitment to learning continues to fuel my passion and purpose, inspiring me to push boundaries and embrace the future with optimism,” he adds.
Pramod says the concept of ‘work-life balance’ doesn’t fully resonate with him, and he views his professional and personal lives as interconnected. “As for what motivates me, I would say it is life itself. Each day brings fresh opportunities to make a positive impact, to learn, and to grow,” he says.
