The OEM has laid out its plans for a multi-year growth strategy which envisions the introduction of a new inkjet system and new cloud-based workflow tools, among other innovations.
As ZDNet explains, Ricoh “is currently laying the groundwork for a multi-year growth strategy that aims to create new use cases for printing and developing its IT services.”
The strategy includes the release of cloud-based workflow tools targeted at SMBs, a new inkjet system “to offset the transfer of offset print volume to digital”, as well as a textbook “designed to show off Clickable Paper”, and the development of bioprinting in collaboration with other corporations and academics.
Joji Tokunaga, the President and CEO of Ricoh Americas explained that “part of the growth plan is to leverage Ricoh’s Mindshift services unit” but stated that Ricoh is “still a printer company”.
“We have put together a three year journey and growth strategy specifically on commercial and industrial printing and printing on more than paper,” he said. “We have to do a better job to articulate our IT network and support capabilities too.”
Meanwhile Glenn Laverty, the Senior Vice President of Marketing for Ricoh Americas, and CEO of Ricoh Canada, explained that Ricoh “is also about empowering digital workplaces and it plugs in across multiple areas of the enterprise.”
Ricoh’s growth strategy consists of the OEM “enhancing its strengths and refining implementation ability”, as well as setting big goals in 2019 to 2020, with the expectation of seeing the strategy pay off by 2023.
In terms of revenue, the company “is increasingly moving toward recurring revenue models” and is currently globally “well balanced”, as its revenue is “split in thirds by region.”
Meanwhile, its services business is expected to burgeon “and the office of the future will likely revolve around subscriptions for everything from software to printing infrastructure”.
Tokunaga also explained that “manufacturing is a key area and there is a plan to invest in 3D printing”.
