Printing & document management major Ricoh India said the company’s total revenue grew from Rs 300 cr to 1047 cr (end of 2014) in just three years.
The company attributed this massive success to its partners who played a major role in Ricoh’s growth story. Following the partner expansion strategy, Ricoh aims to expand its national partners from 3,000 to 5,000.
Moreover, In Copier based Multifunction Printers (MFP’s) it has gained 28% market share in Black & White category and 40% market share in Colour category – as per IDC report for the period of Q1 CY ‘15 (JFM 2015).
As per the company, Ricoh business strategy of adopting Business Process Consulting approach and creating industry specific solutions for verticals such as BFSI, Healthcare, IT/ITeS and Education paved the way for this growth.
Manoj Kumar, Managing Director, Ricoh India said, “We are enthusiastic about our quick growth and increased visibility in the country. Achieving an excellent growth of 3 times in 3 years with 50%+ CAGR, IT services will continue to be one of our key growth engines in company’s contribution in the coming years. Ricoh being ranked as a leader in Multifunction Printers is yet another testimony of customer confidence in our products.”
South India has been a strategic market for Ricoh and it aims to expand the current channel partners from 900 to 1500. Ricoh has recently won various projects in Karnataka total of Rs. 68 crore to supply and install IT Infrastructure in more than 1000 branches of across Vijaya Bank and Rural Development and Panchayat Raj Department to supply IT infrastructure to 5,629 gram panchayats across Karnataka.
Ricoh has successfully implemented key projects in other states of South India. It recently bagged Rs. 40 Cr. Tamil Nadu Health Department. The vision of this project is to make all health services accessible to the common man in the entire state. This project includes modernizing of 69 secondary care hospitals and 100 health centers across Tamil Nadu by providing complete Infrastructure networking, power cabling, IT hardware along with trained manpower for the maintenance of the hardware.
“The Ricoh Group is fully committed to environment and sustainability is now looking closely at health hazards and environment degradation brought about by the unauthorized supplies of equipment and toner in our industry. As a part of Ricoh India’s commitment to the environment we will educate users in identifying and mitigating the risks associated with such unauthorized supplies”, added Manoj Kumar.
