Date:19/11/2005 URL: http://www.thehindubusinessline.com/2005/11/19/stories/2005111902400400.htm

Back Newgen Software bags order from Bank of Tanzania

L.N. Revathy

Coimbatore , Nov. 18

NEWGEN Software Technologies Ltd has bagged an order worth $4,25,000 from the Bank of Tanzania. This is only a part of the IT initiatives proposed by the bank on a total estimated outlay of $2.2 million.

The project would include consultancy and implementation of products such as Omnidocs, OmniCapture and OmniAcquire — from the company's stable and backlog scanning of 25 million pages.

"We have just commenced work on this project. We are hoping to complete the implementation by March 2006," Newgen's CEO, Mr Diwaker Nigam, told Business Line.

Bank of Tanzania, incidentally, is the central bank of that country. It directs and advises the other Tanzanian banks on the IT road map.

After implementing the first phase, which centres around document management and capture, linking the facility across its five branch offices at Arusha, Zanzibar, Mwanza, Mbeya and the Mwanza Training Centre, and 700 users, Newgen is hoping to implement the business process management and cheque truncation system in the next phase in April 2006.

Mr Nigam said the company was in talks with at least 7 to 8 central banks worldwide for implementing a similar workflow solution. "We are close to clinching a huge deal in Kenya," he said, but refused to divulge more information on the prospective proposal.

The company, meanwhile, is trying to impress upon the banks in India about the need for such a solution.