Canon eyes Rs 100 cr revenue from managed document services

MUMBAI: Printing solutions provider Canonis eyeing revenue of Rs 100 crore in sales and service revenue this year from itsmanaged document services business in India. 

"As macro economic situation goes from bad to worse, optimisation of resources has become a priority and managed document services offers them that, which is fuelling the growth. 

"This year, we expect sales and services revenues from managed document services to grow about 15 per cent to about Rs 100 crore," Canon India Executive VP 
Alok Bharadwaj told PTI. 

He added that the segment is witnessing growth on the back of strong demand from verticals like banking, financial service and
insurance ( BFSI) services, automobile and pharmaceuticals. 

The managed document services market in India is estimated to be worth about Rs 250 crore. 

The company, which counts Ranbaxy, 
Maruti SuzukiBSE -2.46 % and Yes BankBSE -2.84 %as its customers, today signed on legal firm Anand and Anand as its clients. It now has 86 clients for its managed document services offering. 

"Anand and Anand is our first client from legal services. Since they deal with sensitive client information, they wanted a solution which is secure and hassle-free. Canon's solution provides accessibility to monitor and track the print environment and usage on real-time basis," Bharadwaj said. 

He, however, declined to comment on the financial or other terms of the contract.