Transformation in Oil and Gas: DocStudio's CTO Perspective | EUGENE SOLOVIOV, ENERGIZE, Episode 6
Summary
TLDREugene Soloo, co-founder and CTO of Doc Studio, joins the 'Energize the Tech Revolution' podcast to discuss his journey from software engineer to tech entrepreneur. He shares insights on Doc Studio's document management and e-signature platform, highlighting its role in promoting paperless processes across various industries. Eugene emphasizes the importance of addressing inefficiencies, regulatory compliance, and data security in document management. He also touches on the company's focus on AI integration, the future of document management, and offers advice for aspiring tech leaders.
Takeaways
- 😀 Eugene Soloo, the co-founder and CTO of Doc Studio, joins the podcast to discuss document management and e-signature solutions.
- 🌟 With a background in electronic data interchange and supply chain management, Eugene is on a mission to promote paperless processes for businesses of all sizes.
- 💼 Eugene's professional journey includes roles as a software engineer and entrepreneur, co-founding multiple businesses across various industries.
- 🔍 Doc Studio specializes in document management and e-signatures, aiming to streamline procurement, sales, and master data management processes.
- 📈 The company addresses pain points such as inefficiencies in document management, regulatory compliance, data security, and accessibility across industries like oil and gas, retail, and healthcare.
- 📊 Doc Studio's solutions for the oil and gas sector focus on enhancing compliance, streamlining document handling, and automating emission reporting.
- 💡 AI and machine learning are on the horizon for Doc Studio, with potential to improve document processing efficiency and data extraction.
- 🔒 Security and privacy are paramount, with Doc Studio offering advanced measures to protect sensitive data and ensure compliance with industry standards.
- 🌐 Doc Studio's client base is global, with a significant presence in Houston and Calgary, reflecting the platform's broad applicability and flexibility.
- 📈 Measurable success for Doc Studio's clients includes reduced operational costs, faster document processing times, and improved compliance accuracy.
Q & A
Who is Eugene Soloo and what is his current role?
-Eugene Soloo is the co-founder and CTO of Doc Studio, a document management and e-signature platform. He has extensive experience in electronic data interchange, supply chain management, and document management across various industries.
What motivated Eugene to transition from a developer to a CTO?
-Eugene’s passion for technology solving real-world problems, particularly in business processes, drove him to focus on management and document management solutions. He recognized the efficiency improvements that could be made in these areas, which motivated his move from software engineering to leadership roles.
What industries does Doc Studio serve, and what are the primary challenges it addresses?
-Doc Studio serves industries such as oil and gas, retail, supply chain management, and insurance. The platform addresses challenges like inefficiencies in document management, difficulties with regulatory compliance, and data security concerns.
Why did Doc Studio target industries like oil and gas and retail?
-Doc Studio targeted these industries because they handle large volumes of operational and legal documents manually, which leads to inefficiencies and errors. These industries also face significant challenges in regulatory compliance and data security.
How does Doc Studio incorporate AI into its product development?
-Doc Studio is actively exploring AI to automate processes like data extraction and regulatory document handling, but the company is cautious due to AI’s current security limitations. AI implementation is on their roadmap for future development.
What differentiates Doc Studio from other document management platforms?
-Doc Studio stands out through its tailored solutions for specific industries, its advanced automation capabilities, and its ability to convert unstructured documents into machine-readable formats. It also supports both structured and unstructured documents, offering a flexible and customizable platform.
How does Doc Studio ensure document security and privacy?
-Doc Studio ensures security through features like audit trails, automated workflows, and secure data storage. They also focus heavily on compliance with industry standards, enhancing accountability and transparency in document management.
What KPIs do Doc Studio’s clients use to measure success in the oil and gas sector?
-Clients in the oil and gas sector typically measure success using KPIs like document processing time, cost reduction per document, compliance accuracy, and overall process efficiency. Some clients have reported reductions of up to 50% in document processing time.
What are the future trends in document management that Eugene foresees?
-Eugene foresees trends like the integration of AI and machine learning to enhance automation, the growing importance of security and transparency in document transactions, and the rise of collaboration tools that support distributed teams working in real time.
How can people connect with Eugene Soloo?
-People can connect with Eugene Soloo through LinkedIn. He is open to engaging with industry peers, especially as Doc Studio expands its presence in Canada.
Outlines
👋 Introduction to Eugene Soloo and Doc Studio
Eugene Soloo, co-founder and CTO of Doc Studio, joins the podcast to discuss his company's document management and e-signature platform. With a background in electronic data interchange, supply chain management, and e-signatures, Eugene aims to promote paperless processes in various industries. His professional journey includes being a software engineer, growing into senior engineering roles, and co-founding multiple businesses. His mission is to enhance efficiency and security in procurement, sales, master data management, and team collaboration through digital solutions.
🔍 Targeting Industries and Pain Points Addressed by Doc Studio
Doc Studio focuses on industries like oil and gas, retail, and supply chain management, addressing pain points such as document management inefficiencies, regulatory compliance challenges, and data security. The company provides tailored solutions to enhance operational efficiency and compliance, streamlining document handling and improving data accessibility. Eugene shares insights into the specific challenges faced by these industries and how Doc Studio's platform helps to automate and secure document processes, including participation in industry standard development groups.
💡 Unique Features and Security Measures of Doc Studio
Doc Studio differentiates itself from other document management platforms by offering comprehensive document automation and industry-specific solutions. The platform excels in converting unstructured documents into structured, machine-readable formats, streamlining workflows, and enhancing efficiency. Eugene emphasizes the importance of security and privacy, discussing how Doc Studio incorporates measures to protect sensitive data. The company's flexible pricing model and scalability are highlighted as competitive advantages.
📈 Success Metrics and Customer Impact in the Oil and Gas Sector
Eugene discusses how Doc Studio's success is measured through key performance indicators (KPIs) such as processing time, document cost reduction, and compliance accuracy. Customers in the oil and gas sector have reported significant operational cost reductions and time savings due to the platform's automation capabilities. The elimination of manual paperwork flows is cited as a notable achievement, showcasing the platform's impact on efficiency and compliance in the industry.
📚 Book Impact and Final Thoughts from Eugene Soloo
Eugene shares his favorite book, 'The Psychology of Persuasion' by Robert Cialdini, which has influenced his understanding of marketing and persuasion. He offers advice for aspiring tech leaders, emphasizing the importance of a strong technical foundation, leadership skills, and aligning technology strategies with business goals. Eugene also stresses the need for adaptability, creativity, and effective communication to ensure that innovations are recognized and valued. He encourages making complex problems simpler and ensuring that solutions are well-known and understood.
Mindmap
Keywords
💡Document Management
💡E-signature
💡Electronic Data Interchange (EDI)
💡Supply Chain Management
💡Regulatory Compliance
💡Data Security
💡Cross-Border Invoicing
💡Procurement
💡Master Data Management
💡Collaboration
💡Artificial Intelligence (AI)
Highlights
Eugene Soloo, co-founder and CTO of Doc Studio, joins the podcast to discuss document management and e-signature solutions.
Doc Studio aims to promote paperless processes for cost savings, security, and efficiency in various industries.
Eugene's professional journey from a software engineer to a successful entrepreneur.
The importance of document management in streamlining complex business processes.
Doc Studio's focus on electronic data interchange, supply chain management, and document processes.
The rise of e-commerce and the need for accurate digital product data.
Eugene's experience in running an outsourcing company and an e-commerce business.
The founding of Doc Studio and its mission to simplify document exchanges for businesses.
Challenges in document management across industries like oil and gas, retail, and healthcare.
Doc Studio's tailored solutions for the oil and gas sector, focusing on regulatory compliance and document control.
The role of AI in Doc Studio's product development and the consideration of data security.
What sets Doc Studio apart from other document management platforms.
Doc Studio's global customer base and the company's approach to serving international clients.
Success stories of Doc Studio's customers in the oil and gas industry, including significant cost and time savings.
Future market trends in document management, including AI integration and security.
Eugene's personal recommendations for software tools that aid in data analysis and decision-making.
The book 'The Psychology of Persuasion' by Robert Cialdini and its impact on Eugene's understanding of marketing.
Words of wisdom from Eugene on becoming a tech leader, emphasizing the importance of technical foundation, leadership skills, and business alignment.
Eugene's advice on making complex problems simple and ensuring that great work is recognized.
Transcripts
hi my name is Arjun Chri and welcome to
energize the tech Revolution joining us
today is Eugene soloo the co-founder and
CTO of Doc Studio a powerful document
management and E signature platform with
extensive experience in electronic data
interchange Supply Chain management
document management e signatures and
crossb E invoicing Eugene is a season
entrepreneur having co-founded multiple
businesses across Europe the US and now
Canada his expertise spans multiple
Industries including retail and oil and
gas Eugene's mission is to promote
paperless into day-to-day processes of
large corporations as well as small and
midsize businesses to provide cost
savings security and increase efficiency
specifically into processes of
procurement sales Master data management
Productions and team collaboration
welcome to the show
Eugene thank you for having me arent
that's a great Mission let's look into
it yes absolutely well um Eugene could
you start off by sharing a little bit
about your professional journey of how
you started from being a developer to
now a C2 of an
organization all right all right so I've
started as a software engineer back in
2004 uh in Ukrainian Office of the
Sweden internet service provider uh and
I grew up there for the senior
engineering role lots of great interest
in projects fun fact actually once my
team was running a project using a 3G
network the cellon network which was
unavailable at Ukraine at that time and
so in order to run the tests we have to
actually fly to Sweden to Stockholm for
a few weeks just to test it I've always
been fascinating with how technology can
solve the real world problem especially
in the businesses and so early I
realized that management and a document
management specifically was the critical
part but often overlooked area of where
the efficiency could be improved the
challenge of the streamlining the
complex processes and making them more
intuitive and secured way is what
driving me and I've joined an and the
leading new newly created engineering
team um of a company which were new at
that time but later became a major
player in the field of EDI electronic
document interchange in Ukraine and uh
several surrounding countries for the
next six years we've built every from
scratch and most of these tools work
that's a fun fact once again for for for
for now as
well um and serving thousand of
customers in in Supply management uh
right now while we're doing so we saw
the rise of Amazon and walmart.com and
though um we thought that these online
shopping Trends will quickly come to
Europe and uh however we from the
feedback of our customer we saw that the
Digital Data of the products right is is
the problem here so you cannot sell
anything online if you have just the
product name and the price and so we
decided to start listic which is the
open catalog of digital assets uh we
pivot it several times and then we
become Master data as a service provider
provide our customers with the ability
to download the data overnight and then
we push the update so they
would have the upto-date data um every
time uh it wasn't the over night success
right I've tried myself as an
entrepreneur several times before that
uh I've built a and run Outsourcing
company with more than 70 Engineers
serving the great clients like Coca-Cola
and Ferrera and then I tried myself as
the owner of e-commerce we delivered the
Fred groceries beads devices you name it
I must probably sell that on
online every time I took an IT role and
my co-founders took a sales and
marketing now back in
2019 uh I've just exited the Outsourcing
company and we were looking for the new
big
idea um I met my co-founders my current
co-founders and partners and we started
Dog Studio based on the idea that
businesses start at small with a few
PDFs and the few signatures they need to
collect and then then they grow and the
more they grow they expose themselves to
the world of strictly formatted highly
standardized document exchanges and
that's how I got
here oh well that's that's great to hear
thanks for sharing such an inspirational
story uh Eugene and your journey now you
mentioned that you're co-founder of Doc
Studio would love to hear more about doc
Studio yeah could you share some
something about the doc Studio yeah sure
sure uh so doc St was established with
the focus on leveraging the extensive
experience in electronic data exchange
Supply Chain management and document
management and processes actually we had
back at that time with the Deep industry
knowledge uh has been that that Been
instrumental in shaping our platform and
our solution enabling us to effectively
address the diverse needs of a sectors
such as uh Supply manag agement and
Retail oil and gas and Industry and
insurance
industry uh to your question uh I'd say
that now we are e signatures ocent
exchange platform and to some degree uh
to some extent uh we contract life cycle
management
platform thank you thanks for sharing
that Eugene now some of the industries
that you mentioned were oil and gas
retail is where doc Studio operates in
uh why did you target these specific
Industries what were the challenges and
pain points that you were noticing these
industries that motivated you to start
doc Studio would love love to know more
on that yeah for sure uh we've been
sitting and trying to identify the
several at least several pain points
which we're going to cover with our new
product and uh we succeed in that across
several Industries uh and and so those
pain points were inefficiencies in the
document management difficulties with
Regulatory Compliance and the challenges
in uh maintaining data security and
trackability trans and accessibility of
the data significant issue we found was
that many organizations were still
handling a large volume of legal and
operational documents manually uh
although they already had some
Integrations and some software providers
uh they still run a lot of unstructured
or you might say not machine read able
formats right and that LEDs to
inefficiencies and errors and uh in turn
that LEDs to additional Investments they
needed in that space in order to clean
those errors uh for instance oil and gas
needed better compliance and document
control emission reporting required
accurate
documentation uh Supply management uh
and Retail businesses struggled with
inventory and Order management some
logistic companies needed stream line
The Document Handling you know the
healthcare still require some
accessibility to patient records uh so
that's how we got into those industry uh
with with trying to solve these specific
challenges uh and that is why that is
why actually we focus on these sectors
specifically thank you so much Eugene
for sharing that and the idea behind
ping doc studio and about the industry
challenges um now in terms of like you
know your product operating in your
company operating the oil and gas space
could we let's Deep dive into the
specific products sced to the you know
to the oil and gas sector could you
share more on the specific products to
this sector and also how is AI being
incorporated into your product
development process great question
so we provide a range of tailored
solution for uh Oil and Gas and energy
sectors for focusing on enhancing
efficiencies and compliance streamline
the handling of regulatory documents
contracts and operational reports for
remission reporting we provide solution
that automate The
Collection verification and Reporting uh
of emission data scope three
specifically um what I can share is that
within the PEX International
standardized Forum that's the
organization which govern that that fex
standard which is uh petroleum industry
data exchange uh
standard we participate in the uh
standard development work groups as well
the emission transparency data exchange
project team we've already automated
Downstream and Company codes cataloges
uh and actively looking forward to
Bringing more on a table for the
customers our platform helps companies
maintain
compliance uh with uh environmental
regulations and facilitating
accuracy uh and and U reporting
processes this uh includes audit Trails
automated workflows secure data storages
uh which collectively enhance
accountability and trackability and
transp transparency of emission
management by addressing these specific
needs of the industry do Studio aims to
provide operational efficiency and you
know we're trying to support sustainable
practices my team is actively looking
into Ai and all the benefits we can
bring to the customers uh uh
incorporating AI into our platform but
that is the road map still we trying to
look because we we have a focus on on
the data security and AI have known
issues with that let's say so exciting
times ahead for Doc studio um now Doc
studio is is a document PL U management
platform organization and there are many
document management platform
organizations out there what is it
specifically about you know doc Studio
that makes it unique uh compared to
other companies and how does Doc
Studio's platform ensure security and
privacy of
documents well we stand out from the
other document management platforms uh
through our comprehensive approach to
the document Automation and uh
integration but automation is the key
here uh unlike others uh I'd say we
offer tailored solutions that other
specific industry need uh uh such as
Regulatory Compliance and real uh time
data processing work close uh should be
uh specifically highlighted here right
our
platforms excel in converting
unstructured documents into the
structured one machine readable formats
uh and that uh in terms streamline the
work uh flows and enhancing uh overall
enhancing uh efficiency that's for sure
uh for the for the other uh companies or
our competitors on the market it really
depends
on what how how deep our customer
integrated in the into the uh
environment of the industry the the
document exchange environment of the
industry and what industry we are
talking about since we support
structured documents like Eda X12 PEX
Universal Business language and many
many more uh as well as simple PDFs with
or without signatures let's call it
unstructured formats like Microsoft
Office uh it really depends uh for the
sake of the example uh I'd say if you're
in a supply management and let's say
You're A supplier of Amazon you have to
utilize XML or X2 one way another uh
there are great companies on the market
with whom we compete providing faster
and practical user interface and and a
greater service different pricing models
it's a fan fact is that some companies
were built so so many years ago that uh
the internet traffic was expensive back
then and so they still would charge you
per kilobyte of data exchanged right we
do have more flexible 2024 pricing model
and uh if you're a customer in oil and
gas industry then there are others uh
with whom we compete and trying to
outpace them with advanced technology
and greater service small businesses use
PDFs to collect the signatures and so we
have well-known competitor here as well
traditional Solutions I'd say often
struggle with the integration
scalability and security we focus on
offering the highly customizable
platform um we scale with the growth of
the business that's our key and then uh
we incorporate a lot of security
measures to protect the sensitive
data thank you for sure sharing the
unique uh value proposition uh Eugene of
Doc studio um now Doc Studio given that
it operates in you know caters to the
oil and gas sector would it be safe to
say that the majority of your oil and
gas customers are located in Houston and
USA and in Calgary in
Canada yes it would be safe to say that
uh while some of our customers and most
of our customer within oil and gas
industry are indeed located in Houston
the us our client base spans globally uh
we serve various Industries across the
US Canada and Europe and that should
somehow reflect the broad W and the
flexibility of our solution uh our
product management team is based in
multiple
locations uh throughout the the
different regions uh to support uh our
International clients
effectively could you share specific
examples of you know some of your
customers in the oil and gas space who
used your product and gained Savings in
terms of time cost would love to hear
what sort of kpis are being used to
measure success of some of your
customers in the oil and gas space
brilliant question arjent love to
measure everything so I can't share the
exact numbers however I will sell that I
will will say that our customers usually
and typically would measure success
using qpi like processing time PR
document cost reduction per document uh
and uh compliance and accurancy uh of
the process overall uh some companies
have reported oneir up to one3 reduction
in operation costs due to streamlining
that document processes and automation
automation is the key here uh Time
Savings Time Savings uh also notable
thing here some clients experience up to
half reduction in document processing
times allowing them to respond quickly
get the money in the bank quickly
respond to Market demands uh and uh we
all know that regulatory requirements
are changing constantly so you have to
adopt really quickly in order not to
stop your business and uh ensure
continuity right um some of our
customers Logistic Company for instance
they've been able to uh completely
eliminate the manual paperwork flows and
so that is that is success for me that's
great to hear thanks for sharing all
those success story there Eugene now as
your company still growing and evolving
uh with market trends could you share
like like what what do you see as far as
future market trends goes um in this
document management platform
specifically in the energy
sector yeah I believe that the trends
are likely to be driven by several key
Innovations we're we're seeing right now
first of all it's the integration of AI
and machine learning that will enhance
the Automation and and data extraction
actually making um document processing
more efficient and accurate uh I think
that that is going to be enable deeper
analytic insights and more Strate
strategic decision making right in the
end uh another trend is uh is
interesting is that we see the more and
more emphasis on the security
trackability and the transparency of the
document transactions and so I still
believe that the the blockchain should
have a role in that although we have to
make those uh private blockchains
cheaper and then
finally I think that growing interest in
enhan collaboration tools right uh which
support the uh distributed teams in a
realtime collaboration tools uh that
that is the trend definitely and that
Trend reflects to move towards more
intelligent secure and collaborative
document Management Solutions for sure
uh and yeah this is this is the three
three top trends I see right now thank
you so much Eugene for sharing those
perspectives uh so that concludes the
formal portion of our interview today uh
we like to end our our podcast show with
a fun segment called a rapid fire where
our viewers and our listeners get to
know a little bit more about the
personal side of guest so as part of the
rapid fire I'll be asking you three
questions are you ready yeah sure go
ahead well firstly as this is a Tech
podcast would love to hear from your end
Eugene like what is a you know a
software app or a hardware product that
you enjoy using and you use on a regular
basis well I would say that metabase and
a data grip these are two product the
metabase basically it's the uh business
uh uh intelligence tool and a data grip
the client to the database and so I use
these tools a lot to slice and dice the
data we have right and then get some
answers get some insights run through
them and
uh basically those anwers allows us and
me personally to make well informed data
driven
decisions um if we will and uh within my
team I not only encourage the it guys to
look into the the data right but we
highly encourage the salespersons to
answer the questions to the database get
the answers don't make up the data you
know so yeah metabase and and the data
group great great Eugene now what's a
book that you've read that has had a big
impact on your life and
why let me think about
that well the psychology of persuasion
by chelini Robert chalini uh it shows
that that book shows me that everything
around you is a manipulation not
necessary in a bad way right it's it's a
good thing eventually uh everything is
marking and so the book explains the
psychology of why people say yes and for
introverts like myself it is really
important to understand how to apply
that in in the real world yeah for sure
thanks for for sharing that and uh what
would be like you know some final words
of wisdom or a quote or perhaps a short
story you'd like to end this podcast
with to share with our viewers and
listeners oh yeah for sure
so for the guys who wants to become a
tax leader and uh or or a CEO in a
future I would say the
focus on several key areas uh which is
uh build a strong technical Foundation
that is essential than the uh develop
the leadership skills being a c is not
all about the technical expertise you
have to lead the teams you have to solve
the people conflicts you have to
understand uh and align your technology
strategies with the business goals right
understand in the business is the key
here you have to know that not every
Technologies brings value for the
business right and if there is no value
there is no
innovation uh and uh in general uh be
adaptive be creative uh and
experiment the worlds of w words of
wisdom let me think one of our customers
actually shared once with me that it's
not only that you have to make a great
something you have to make sure that
everyone around knows about that because
there are a lot of things great things
uh nobody knows
about and um one more thing I wanted to
share here is
that it's actually uh I've heard that
from my current partner with the studio
he always say
like make so that all the complex
problem becomes a simpler one and the
simple simple problem just disappear and
that is truly a good way to manage
things not only in your business but in
your life as well so I think these two
things really really important very well
said Eugene well thank you so much for
for sharing that um how can our viewers
and listeners get in touch with
you well I would say the the best and
the shortest uh way to connect is
LinkedIn that's for sure um I'm always
there uh I might not answer right away
but in a few days uh I I manage my
things around and then I answer that uh
I'm always open to engaging with
industry peers especially when now we're
trying to bring that beautiful platform
to Canada so I'm constantly looking to
the new connections within Canada
it um yeah that's it well sounds good
well thank you so much Eugene you know
for joining our show it was an absolute
honor and pleasure having you uh thank
you for sharing your subject matter
expertise and uh from the team at
energize wishing you and the entire team
of Doc Studio lots of success lots of
growth um so there you have it ladies
and gentlemen our episode for today and
remember your one product away from
transformation I'm arjin
CH thank you arjin
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