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Canon India eyes Rs100 cr revenue from document services biz

Canon India eyes Rs100 cr revenue from document services biz
PTI
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First Published: Sun, Dec 12 2010. 12 35 PM IST
Updated: Sun, Dec 12 2010. 12 35 PM IST
Mumbai: Photographic and digital imaging solutions provider, Canon India eyes Rs 100 crore revenue from Document Services, which is designed to assist in effective management of document input-output environments and processes.
“With growing demand for Canon Managed Document Services, a domain which was started in 2009, we expect the revenue to touch Rs 100 crore in 2011,” Alok Bharadwaj, senior vice president, Canon India told PTI.
In 2009, the revenue from the business stood at Rs 20 crore, which the company is confident will touch Rs 50 crore this year.
The company has 18 large enterprise clients, including firms like automaker Maruti and information technology firm Mindtree and other companies from the pharmaceutical, FMCG and banking segments, he said without naming them. “We plan to focus only on big enterprises under this vertical,” he added.
Functioning on a business2business (B2B) approach, about two companies every month are subscribing Canon MDS, which has helped firms save up to 30 per cent of their printing, he said.
Under this vertical, Canon takes care of the overall infrastructure needs of a company, related to documentation.
However, this a very manpower intensive business and the company currently has 150 sales and marketing people and another 150 service personnel. “With growing business we will keep adding people for direct sales to handle large accounts,” he said.
“Out of the total Rs 250 crore market, we are gearing to capture 30% business by next year,” he added.
With competitors like Xerox, Wipro and HCL, Canon India is targeting to be the market leader next year, Bharadwaj said.
Canon is also in talks with the Haryana government to launch a pilot project in this vertical to help in checking wastage of energy and papers, he said.
“We are talking to the Haryana government to launch a pilot project in Canon MDS to stop wastage of energy and papers. We would also like to work with Karnataka government in the same segment,” he added.
The organised sector comprises of about 43 lakh printing devices printing close to five billion printouts in a month costing about Rs 10,000 crore.
Canon sells its products like cameras and printers through 4,000 outlets within the country expects a growth of 43% year-on-year in its revenue at Rs 1,200 crore by December 2010. In 2009, Canon India had clocked a revenue of Rs 840 crore.
Headquartered at Delhi, the company has offices in eight cities across India and directly employs over 450 people.
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First Published: Sun, Dec 12 2010. 12 35 PM IST