Newgen Software, a global provider of low code and cloud-based digital transformation platform, commissioned Forrester Consulting to conduct a Total Economic Impact™ (TEI) study and examine the potential return on investment (ROI) enterprises may realize by deploying its solutions.
The study provides readers with a framework to evaluate the potential financial impact of Newgen Software on their organizations. Forrester interviewed three decision-makers with experience using Newgen Software to better understand the benefits, costs, and risks associated with the investment.
The Forrester study found that Newgen provided a 371% ROI and a $29M NPV for a composite organization over three years with a payback period of less than six months. Other key findings include:
- Enhanced employee productivity from the intelligent automation of data entry processes. Digitizing manual data entry allowed interviewed organizations to reskill between 8% and 20% of FTEs per year and enabled 50% in time savings
- Faster delivery time from workflows digitization enabled the opportunity to upskill 25% of call center agents to perform value-added tasks. It also helped reduce 75% of the average time spent by those agents on handling customer queries
- Accelerated invoices processing facilitated faster revenue recognition, thereby generating $20.1 million over a three-year horizon
- Reduced operational costs owing to the decommissioning of legacy IT systems. In three years, the implementation of the Newgen solution has helped the composite organization benefit, with operational cost savings of $303,343.
“Customer success is our biggest priority. Forrester’s TEI study further validates this. We would continue to offer innovative solutions, helping enterprises stay current and ahead of the competition. And, our low code-based digital transformation platform, NewgenONE, continues to enable enterprises globally with rapid and agile development and deployment of complex business applications,” said Virender Jeet, CEO, Newgen Software.
Apart from the quantified benefits, the study also identified unquantified benefits provided by Newgen, such as enhanced customer and employee experience, better compliance, improved innovation and agility with low-code capabilities, and others.