Newgen acquires patent to boost product effectiveness

Newgen Software Technologies, a provider of low code automation platform managing content, processes and communication, announced after trading hours on Monday that Indian Patent Office had issued a patent for its system and method for the automatic assessment of digital documents for a period of 20 years.

The invention is related to making digital copies of documents from scanned copies. It automatically compares and checks the similarity between the two copies, thereby, ascertaining the quality of the digital document and deciding whether the original document needs to be digitised again.

Speaking on the announcement, Diwakar Nigam, MD and Chairman of Newgen Software stated that the company would continue to innovate and enable its customers with cutting-edge applications that will help them stay ahead of the curve.

Newgen Software Technologies Ltd is a company which provides Business Process Management (BPM), Enterprise Content Management (ECM), Customer Communication Management (CCM), Document Management System (DMS) workflow and process automation software. In addition, the company offers various solutions, such as banking and financial services, insurance, healthcare, shared services centres and pharmaceuticals.

At 9.40 am on Tuesday, the stock was trading at Rs 201.50, up by 5.30 per cent or Rs 10.15 per share. The 52-week high is recorded at Rs 371 and the 52-week low is Rs 167.80 on BSE.