Ricoh Expands Its Global Managed Document Services
NEW YORK—Jan. 20, 2011—In a global event, held in Tokyo, London an New York, Ricoh Co., a worldwide leader in digital office equipment and advanced document management solutions and services, announced an investment designed to aggressively accelerate its shift to a services business model as a key growth strategy. To advance this shift, Ricoh plans to invest $300 million over three years in its global Managed Document Services (MDS) infrastructure.
Based on research from industry analyst firm IDC and Ricoh MDS engagements, a company with annual revenue of $250 million can save more than $6 million annually through effective document management, according to Angele Boyd, IDC Group vp, general manager, Imaging/Output Document Solutions & SMB. This includes savings of observed costs, such as printing, as well as unobserved costs connected to IT support, documents and records management, environmental, regulatory compliance and end-user productivity.
Ricoh also unveiled new research from a series of global focus groups and surveys with C-suite executives and senior IT managers. The research, conducted in partnership with IDC, found that while businesses are aware that they need to gain more insight into their information and document workflows, they continue to have little understanding of the specific amount of money spent in this area. This is largely attributed to the lack of consolidation of both observed and unobserved costs and fragmented distribution of these costs across different departments within the organization.
In addition, there is low awareness among executives of the positive impact a document management strategy could have on the business, including how much could be saved and the overall impact on the bottom line.
Harnessing the power of information contained in documents and processes as a core company asset is critical since the way organizations communicate and conduct business is changing at an unprecedented pace. Ricoh’s accelerated shift to services, with a strong focus on MDS, will help customers to become more responsive to the continual flow of information as they address the changes in their industries.