Newgen Software secured multiple domestic and international contracts, expanding its presence with digital transformation and automation solutions.
Newgen Software Technologies Limited, a prominent IT product company, has recently announced multiple contract wins, showcasing its growing influence in global and domestic markets. These orders span various industries, including banking and enterprise automation, reflecting the company’s strategic focus on digital transformation. On an intraday basis, the share price of Newgen Software hit a high of ₹1,754 on the NSE. As of 1:30 PM, the stock is trading at ₹1,700, down from the day’s high.
Multiple Orders Detail
- International Banking Deal for Digital Solutions
Newgen Software Inc., the US-based subsidiary of Newgen, signed a 2-year contract worth USD 1.83 million ( USD 1,829,019) with a banking client. The project involves digital account opening, retail loans management, enterprise content management (ECM), and collections upgrades.
- Domestic Order for Remittance System
In the domestic market, Newgen received a purchase order valued at ₹20,89,78,000 million for its Remittance System license. The contract, spanning 1-year, highlights Newgen’s technological prowess in delivering scalable solutions for financial services.
- Credit Automation Services Deal
Newgen secured another international contract worth USD 1.64 million (USD 1,643,256) for credit automation services, to be executed over 5-year. This long-term engagement underscores the company’s expertise in automating financial workflows.
- Knowledge and Records Management System in Singapore
A subsidiary based in Singapore received a contract worth SGD 17,47,298 for a Knowledge and Records Management System (KRMS), scheduled for execution over 4.5-years. This project further strengthens Newgen’s presence in Southeast Asia.
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