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When we are thinking of business we have to think about technology as well. Today, most entrepreneurs think about making their business better with the help of technology and therefore they believe in electronic data rather than going for paper work that is more tedious and full of hassle. Ricoh is one of the leading companies that provide efficient office document management services to many businesses across the world. Recently, Ricoh made a global announcement where they said that the company is planning to invest $300 million for Ricoh global managed document services which are few of the pioneering services.

Ricoh announced that this step will definitely boost their business and also help those companies that are using these services. Ricoh’s MDS or Managed Document Service is already quite popular and the company said that this investment will definitely help their customers to be more productive in the future. It was also announced that Ricoh had done a researched with IDC where they found that most companies today look for efficient office document services. Angele Boyd, IDC Group Vice President and General Manager, Imaging/Output Document Solutions and SMB said that companies can enjoy profit of more than $6 million annually with the help of new MDS by Ricoh.

In the announcement Ricoh also said that in another research done by them in collaboration with IDC it was studied that a lot of companies today know about the information and document workflow but they don’t understand how to manage it. Ricoh found out that in most cases the issue lies with low level of awareness about office document management and even because of fragmentation of departments in organizations. They also mentioned that in some cases lack of consolidation for observed and unobserved costs could be the reason behind improper document management.

Ricoh also mentioned that this decision will definitely take the company to the next level. Shiro Kondo, President and CEO of Ricoh Company said that the new strategy will help their customers to be more agile, responsive and productive. It would also help Ricoh to meet the annual target of $3.3 billion by the end of 2013.

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