Document Management Solution was already there in the market but it was more talked in enterprise or larger organisations. But now it has become most crucial factor for any of the organisation to survive in the future. Digital India mission run by PM Modi is also one of the growth driver for DMS in India. SoftAge, India's leading document service management provider has been thriving these opportunity since long time but now company is planning to top much more market by end of this year. Mrs. Fahmida Ozair, CEO, SoftAge shares her opinion and plans for Indian market exclusively with DT.
Q: How do you see the growth of Document Management Solution in India?
A: Voluminous growth in data and the need for a faster decision-making process are the major factors driving the adoption of DMS in India. Regulations by government which makes its mandatory for companies to preserve the documents for certain years. The advantages incurred by DMS in business enterprises are the reasons for its growing prospective. The range of services offered by such a system is crucial in multiple aspects, which encompass most of the process operations in business enterprises. A DMS provide services such as massive storage, versioning of files and electronic records, usage of search features as well as recovery of documents.
Q: What are the major growth drivers for this market?
A: Features of DMS that are contributing extensively in efficiency of operational processes are one of the factors behind its growing demands. Apart from providing massive leverages that can be measured in terms of financial returns and cost cutting, this system contributes towards the overall improvement of enterprises by administering a competitive edge in the market and saves time and increases employee productivity. DMS also assists in the implementation of such trends adding to work place efficiency and flexibility. The growing prominence of mobile technology has also assisted DMS to become more popular in enterprise management.
Q) How do you see the adoption of such solution in SMBs or SOHOs?
A: The emerging trends of Document Management System have improved the overall workspace and operation mechanisms in SMBs. As far as small and medium level enterprises are concerned, overall efficiency with proper utilization of resources is crucial. Document management systems makes retrieval of electronic data quick, easy and quite economical, compared to other models. The process becomes efficient with multifarious features such as indexing, utilization of metadata, keywords and document query options. The system can create multiple images of a single document and stores them. This provides a paperless platform that can be accessed quickly in the system. Paper documents can be scanned and stored in the system turning the process to be cost saving and agile. It impacts several aspects of operations in SMB’s simultaneously.
Q: What are the major challenges for this segment?
A: Digitizing workplaces through DMS also creates its own challenges, including security, developing a new kind of digital etiquette to expectations for employees, and the tendency for building expectation of always being “on,” causing burnout and often leading to retention problems. Integrating digital technologies into the workplace can not only wreak havoc on the productivity of workers, but it also creates its own distinct culture, impacting the previous work culture and the general work experience. These changes will challenge the workplace by forcing both executives and employees to adapt the way they interact with each other and the technologies that enable their work.
Q: How do you help your customer in better document solutions? Brief us about your current offerings.
A: Ever since its inception, SoftAge has been providing document management services to sectors like Telecom, Banking, Insurance, Government, Media, Healthcare, Education, Aviation, and Legal. Central to all our work in document processing is SoftAge's unique document management process. It is a highly efficient process that operates on the document data flow right from the point-of-collection to the warehouse, including verification, audit, scanning, record creation, data and document retrieval. SoftAge complies with norms set by Telecom Regulatory Authority of India (TRAI) and follow their rules pertaining to physical and data security. The company also takes adequate measures to make their warehouse fire proof, so that there are no ways of loss of documents due to an accidental fire.
Q: How do you see your contribution towards Digital India mission?
A: The services provided by SoftAge in the area of Document Management services is directly in-sync to the government’s concept of ‘Digital India’ which intends to encourage the entire nation to successfully embrace digitalization. Digital India comprises of various initiatives under the single program each targeted to prepare India for becoming a knowledge economy and for bringing good governance to citizens through synchronized and co-ordinate engagement of the entire Government. With Digital fabrication transforming businesses, Document Management emerges as a key need, today. Also, as the Cloud, Big Data, and the IoT are rapidly being woven into the fabric of business, new business models & innovation modes are rapidly emerging. We at SoftAge aim to play our part in the transformation and digitization of work places with the help of technology.
Q: What are your revenue/growth targets by end of year 2016?
A: We have very aggressive plans to achieve our set target by end of this year. With huge opportunities and government initiatives we expect our revenue to cross 250 crore by end of this year.
