A document management system (DMS) is important for the smooth functioning of a business structure and its operations. But, traditional DMSs fall short in certain aspects holding them from being the complete solution for all document storage needs. Without any doubt, in today's complex and collaborative work environment, it is time for traditional tech to get disrupted alongside business disruptions. Moreover, document management is one such domain with data privacy bills and stricter regulations around the corner.Besides, the organization's treatment of customer data files will face challenges with respect to traditional DMS systems. Into this space, enters Xbiz Techventures, a fintech start-up company from Mumbai introducing their new-age document management system.

In a recent interaction with Dipak Nair, Managing Director of Xbiz Techventures shares his views with CIO Insider on his 2+ decades of experience as a CIO and tech leader prior to being an entrepreneur, and the unique company solution.

As an Ex CIO, can you please elaborate on the challenges you have noted with document management systems?
Companies struggle in managing documents across multiple digital interfaces. Each system ends up creating redundant document handling capabilities primarily attributed to the failure of traditional DMS due to its archaic architecture and rigid structures falling short of expectations. Traditional DMSs pose license compliance challenges(in formats of named/ concurrent user/API count/cores and more). They sell small and then try to grow big with land and expand strategy. They impose vendor lock-in with proprietary storage formats. Still, on old technologies, they provide near-zero intelligence and typically end up being dumb repositories. With integration challenges, they end up becoming the 'final resting place' for documents. Resultant handoffs and transfer of documents from one system to another end up accumulating duplicate

documents all across posing housekeeping challenges. Making recon, purging, dedup, and compliance of documents tough to manage. Traditional DMSs are based on physical folder/ cabinet structure, thus file appearing in multiple folders creates duplicate copies. All these and other challenges, lead us to disrupt the DMS space with the introduction of DIGIDRIVE.AI DMS.

trigger for document expiry with auto-trigger workflows. The system comes with flexible deployment options with both on-premise and cloud options agnostic to any platform dependency. Significantly lightweight than its counterparts. This one-of-a-kind solution is created with the goal to help CIOs to effectively deal with challenges related to traditional DMS and storage optimization. We aim to help businesses break away from the limitations of traditional DMSs and meet the expectations of a modern digital world.

What is the future roadmap envisioned for DIGIDRIVE.AI?
We plan to leverage AI for better out-of-the-box document reading capabilities along with AI based document search options besides developing DIGIDRIVE DMS into a multi-tenant SaaS model mainly catering to SMEs who prefer SaaS as against large scale local implementations. Committed to customer success we will continue to grow and expand disrupting this category.

Could you give a brief account on Xbiz Techventures’ role and position in the IT Services sector?
Founded in 2012, Xbiz Techventures is an emerging technology company that mainly specializes in AI, computer vision, cyber security, GRC, and DMS space. A highly innovative venture strongly believing in value creation, excellence, and sustainable profitable growth. It is a bootstrap self-funded, zerodebt, and profitable company with more than 100 team members working across offices in Mumbai and Pune. Its motto is to Innovate, Incubate, and Invest in new ideas and solutions.

Its divisions namely DIGIVISION and SECURENEXUS have proven their metal in the market. DIGIVISION specializes in computer vision offering solutions like Document AI, OCR data extraction, document masking, video KYC, video KYC auditor, image and video compression, video analytics, video streaming, voice-to-text, voice analytics, face identity, and many other tools. SECURENEXUS is a specialist arm focused on cyber security, research-based InfoSec Services coupled with innovative products such as attack surface monitoring, software composition analysis tool, and IT GRC solution.

Within a short period of time, our firm has matured to become a premier provider of AI/ML, computer vision, and cyber security solutions serving leading banks and insurance companies.