Indian IT firm Newgen Software Technologies is planning to raise
thru preliminary public provide (IPO), which it expects to launch this month.
“We are financially doing very well and registering proper growth yr-on-year. The IPO is especially to offer to go out or monetization opportunity to some of our existing traders who have been with us considering the fact that very long term. Around Rs95-a hundred crore of the total fund may be used for setting up a brand new workplace in Noida,” Newgen Software MD Diwakar Nigam instructed PTI.
Newgen Software recorded consolidated revenues of Rs433.76 crore for 2016-17 and a working income of Rs52.36 crore. The organization, hooked up in 1992, offers in the commercial enterprise system management software program for banks, business technique outsourcing companies, government establishments and promote products across 60 international locations.
“We have applied for approvals earlier than Registrar of Companies and are making plans to raise Rs450 crore from the IPO. We could be diluting round 25-26% stake, which includes 21% stake of personal fairness traders and relaxation via employees. We have a few personnel who’ve been with us on the grounds that very long time and they’ll like to monetize stake they maintain. None of the promoters are diluting their stake in the IPO,” Nigam said, including that he expects IPO to be released this month.
Ascent Capital, IDG Ventures, Vista ITCL and SAP Ventures are buyers in Newgen Software. “The segment wherein we operate is an $18 billion industry globally and predicted to be $30 billion. We have started out increasing our foreign places footprint. In India and the Middle East, we are a dominant player. We are seeking out worldwide possibility now and Gartner has regarded as one of the main participant, which has helped us in producing commercial enterprise lead in distant places marketplace,” he added.
The enterprise has overseas places of work within the US
“We have already got 7-eight banks within the US using our platform and we’ve pipeline of one hundred forty banks there. In overall, we control venture essential operations of 459 big corporations, especially in monetary and coverage phase. This consists of corporations like ICICI, Life Insurance Corporation of India, Kotak Mahindra Bank, Bank of Baroda, United Arab Bank, Mercantile Bank and so forth,” he added.
He stated that Newgen has registered compounded annual increase rate of 21% over final 5 years and expects the comparable boom in coming years. “We have seen masses of exquisite software offerings corporations from India. We are one of the precise software product employers from India that has the international footprint. Product companies take a number of time to mature, however then they have got a notable destiny,” Nigam said.
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The corporation has the body of workers of round 2,200 personnel out of which 238 are a part of its studies and development team. “We have 32 patents registered for BPM software program and now running on host of recent technology, which includes artificial intelligence, robot procedure automation, and many others,” Nigam said
Nowadays, the user experience delivered by a software application determines its popularity and profitability. The user experience delivered by an application depends on its accessibility, functionality, performance, usability, and security across various devices and platforms. Hence, it becomes essential for enterprises to focus on the quality and user experience of their applications throughout the software development lifecycle.
Many enterprises nowadays implement formal software testing strategy to launch a high-quality software application. Also, many businesses nowadays test the software continuously and under real user conditions. But several entrepreneurs still do not realize the importance of testing in the software development lifecycle and the benefits of testing the software early and continuously. They are still skeptical about the benefits of software testing and believe several software testing myths.
Decoding 7 Common Myths about Software Testing
1) Testing Increases a Software Application’s Time to Market
While developing a new software application, enterprises explore ways to beat completion by reducing its time to market. The QA professionals have to invest both time and effort to evaluate the software’s quality under varying conditions and according to predefined requirements. That is why; many businesses believe that the software testing process increases the product’s time to market. But each enterprise has several options to get its software tested elaborately without increasing its time to market. A business can easily reduce testing time by automating various testing activities. Also, it can implement agile methodology to unify the coding and testing process seamlessly.
2) Testing Increases Software Development Cost
An enterprise has to deploy skilled testers and invest in robust test automation tools to evaluate the quality of the software comprehensively. That is why; many entrepreneurs believe that software testing increases software development cost significantly. But an enterprise can reduce software testing cost in a number of ways. It can opt for open source and free test automation tools to reduce both testing time and cost. Also, the software testing results will help the business to generate more revenue by launching a high quality software application, in addition to avoiding maintenance and correction cost.
3) Test Automation Makes Manual Testing Obsolete
The test automation tools help QA professionals to execute and repeat a variety of tests without putting extra time and effort. Hence, many enterprises explore ways to automate all testing activities. The entrepreneurs often ignore the shortcomings of various test automation tools. They forget the simple fact that test automation tools lack the capability to imagine and make decisions. Unlike human testers, the test automation tools cannot assess an application’s usability and user experience precisely. Nowadays, a software application must deliver optimal user experience to become popular and profitable. Hence, an enterprise must combine human testers and test automation tools to assess the quality of its software more precisely.
4) Elaborate Testing Makes an Application Flawless
While testing a software application, testers perform a variety of tests to evaluate its accessibility, functionality, performance, usability, security, and user experience. They even identify and repair all defects and performance issues in the software before its release.