FileHold Systems Inc. (Small Cap Top Fifty winner) is the designer and developer of enterprise grade Electronic Document and Records Management software for medium sized companies, departments and large organizations. We spoke to Larry Oliver who told us more about the firm.
For ten years, FileHold has designed, manufactured, sold and supported enterprise grade document and records management software, deploying their software in all possible vertical markets in many parts of the world. Larry Oliver explains the work they do and their ongoing business strategy.
“FileHold software is sold primarily as a secure on premise solution allowing users access to documents via a rich desktop application, through Microsoft Office or any internet browser including via mobile devices.
“The company has deployments in cloud services such as MS Azure, Amazon and RackSpace. We have a Pay per User per Month model hosted by one of our partners. We sell both directly and through a small community of resellers. One of our customers is deploying FileHold to over 1,300 of their employees in both China and Hong Kong to streamline and eliminate paper based processes.
“We go to market via the web and do all of our marketing, sales, implementation and support using well developed web based services. Our software is sold as an ‘out of the box’ product with fast deployment. We market our software as ‘Enterprise grade, feature rich yet affordable’. We have just introduced ‘Courier’ a feature that we believe brings a new capability to this category of software – the ability to give secure access to documents within the FileHold repository to anyone who has an email address.” “Because of our web based marketing, deployment and support we have been able to keep our operational costs relatively low which allows us to keep our software affordable, yet at the same time, it is enterprise grade and feature rich. Our prospective customers are often surprised at the value we present to them.”
Operating in a competitive market, Larry give us his thoughts on how the industry has changed and the challenges the company faces.
“It is financially challenging and risky to start a software business with only an idea about the final product and build it from a clean sheet of paper. It took us 18 months to produce the first version of FileHold and it was hard to find our first customers.Now that we have a proven customer base and nice cash flow, our business is well situated for continued growth.
“Customers are starting to become confident about buying Enterprise grade software over the web. As e-commerce continues to become popular it has made the idea of buying a complex software product through the internet much more mainstream. FileHold strategy has always been to go to market, sell, deploy and support via the web so this industry change has helped us.”
Following this, being aware of emerging developments is a must for a company such as FileHold as Larry explains.
“We listen to our customers. Our product road map and technology innovations are developed based on what our prospects and customers tell us. FileHold has some of the most security and technology sophisticated customers in the world. They demand we stay current with technology and they direct our software development.”
Looking to the future, FileHold will continue to grow their product capabilities in the direction of more web based and mobile capabilities. The firm also recognizes the need to make their products more capable in Business Process Automation (BPA) so that clients can benefit from document automation in the review and approval process.
Published by Corporate Vision a division of AI Global Media