Ricoh Drives Transformation Towards Service Provider
On June 7, 2024, at the Ricoh Trend Forum in Baden, Switzerland, the company’s CEO, Daniel Tschudi, reported on the significant transformation taking place within Ricoh. While the core business of Ricoh remains printers, the company is experiencing rapid growth in revenues from services.
### Transformation and Growth
In 2023, Ricoh saw a substantial increase in its global revenue, reaching 14.5 billion Swiss Francs, up from 13.6 billion in 2022. This growth was driven largely by the hardware-independent Digital Services sector, which now contributes nearly half (48%) of the total revenue. Ricoh aims to increase this contribution to over 60% by 2025, reflecting the evolving nature of the workplace and the increasing demand for flexible and agile solutions.
### Investments in Services and Acquisitions
Ricoh has been actively investing in its transformation towards a service-oriented company. Since 2019, the company has made 20 acquisitions globally, focusing on IT infrastructure and digital services. The incorporation of companies like Lake Solutions and Axon Ivy has strengthened Ricoh’s service portfolio, particularly in areas such as cybersecurity and cloud services.
### Embracing Digital Transformation
While hardware remains a critical component of Ricoh’s business, the company is shifting its focus towards providing comprehensive services. In Switzerland, Ricoh generated 61% of its revenue from services in 2023, including Managed Printing Services and Meeting Room as a Service. The partnership between Ricoh and Lake Solutions offers a 360-degree service offering for the workplace of the future, catering to both enterprise and SME customers.
### Future Outlook
The Ricoh Trend Forum in Baden also addressed broader economic and political trends, emphasizing the importance of a positive outlook for the future. Keynote speakers highlighted the need for clear future strategies, crisis resilience, and increased productivity in companies. The event featured engaging sessions and exhibitions, showcasing the latest trends and technologies in the industry.
### Conclusion
Ricoh’s strategic transformation towards a service provider reflects the company’s commitment to meeting the evolving needs of businesses in a digital age. By focusing on digital services and partnerships, Ricoh is well-positioned to navigate the changing landscape of the workplace and drive innovation in the industry.
