CED Tech Venture profile: Docsmore, taking documents to the cloud

Docsmore, a startup based in the Forsyth County community of Lewisville, will be demonstrating how its technology helps clients manage, secure and report documents from the “cloud” at CED’s Tech Venture conference.

This Q&A profile is the 26th in a series being published about Tech Venture presenters through a partnership between the CED and WRAL TechWire.

The Q&A with CEO Bobbie Shrivastav:

What is the focus of your business?

Docsmore is a cloud based solution that allows users to easily and securely collect, manage, and report data from documents. We take any PDF or Office document and turn them into web-friendly, interactive forms. You will never have to tell a user to “Please complete the forms that have been attached and return to us by email, fax, or mail.” Docsmore can take your document, allow you to specify form fields or signatures, and send it to your users to complete. We offer many ways for users to get more out of their documents, including:

SMS validation that requires users to provide text verification when interacting with the document.
Allowing users to upload pictures right into the document.
Collect payment by using Credit Card or PayPal
Web-Cam signatures to ensure the right person is signing the document
Using self-signing links to collect data from users

The data collected is stored in the cloud, and with the help of our query engine, our users can easily extract data without the need of heavy-duty databases or a reporting engine.

Docsmore works to streamline your document transactions and redefine the way you do business.

What is the top pain point/business application you are seeking to address?

Unable to efficiently collect, manage, and report data from documents (Digital Transactions) is a huge problem in organizations and according to a recent Forrester study conducted by DocuSign, 20% of companies estimated that 6% to 10% of revenue is lost, while 37% of companies estimated that number to be in the 11% to 25% range due to poor digital transaction systems. This is an impact to all organizations regardless of industry and departments as majority of departments deal with some sort of digital transaction.

If you are a small organization, the problem is dealt with either hiring or extending a resource in data entry or implementing free tools such as Google Docs that tackle part of the problem. There are number of competitors in this space that focus on a specific problem such as DocuSign/Right Signature – focus on collecting data and signatures; Google Docs – focus on collaboration; Box – stores and shares documents. None of our competitors do all three well – in fact, they state to use their product with “your favorite apps.”

What makes it unique?

There are numerous digital/document management solutions but none of them are light-weight or can provide a holistic solution to all document needs. There always seems to be a step that either is done manually or another system is attached. In addition, the data you collect is yours to use and we make it very easy with our reporting engine to analyze and extract data. We want to be a disrupter in the digital transaction and document management space.

Why should investors be interested in your firm?

We are a local NC startup wanting to make a difference in how firms can truly optimize their processes as it relates to data collection from their users. Our solution is suited for any size organization and with our flexible system, small to medium size businesses will benefit from using our standalone version while larger enterprises, will appreciate that we can plug and play in any system. Our product is also industry agnostic and with the right funnel, there is an opportunity to penetrate the market and make an impact.

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