Xerox Aims to Grow its Revenue in India

Originally published at ETtech.

Xerox bets high on SaaS services to grow its revenue in India

Traditional printing company Xerox is shifting its forte to digital service-based and claims that the majority of its business is now composed of it. While the company is looking at how to optimize printing for customers, it is primarily focusing to digitize workloads to grow its market share.

These SaaS-based digital services are now a new escalating avenue for its India business.

Talking to ETtech, Raj Kumar Rishi, Managing Director, Xerox India who took over the role after leading Hewlett Packard’s India Print business said that recently the company digitized Bangladesh’s household census which removed the hassle of paperwork in the process and enhanced accuracy and efficiency. These services which started from the scratch of digitizing survey forms also included archiving and analyzing the recorded data.

The company is now in talks with the Indian government to digitize more of such domestic projects.

Besides such initiatives, the company has beefed up its security features for its printers. Seeing those inside threats for corporates is a growing concern, in its new devices, the company has added features like codes to restrict access. Moreover, the company has also introduced a voice-command feature for its A3 printers and can be handled through mobile as well.

Commenting on the dip of the printing market, Rishi says that the market has some new avenues where printing is growing. Citing an instance he says, education is now heavily dependable on printers for projects which wasn’t the case 10 years back. “Many such areas have now opened up in the printing segment.”

Notably, while developed markets like the US and Europe have been de-growing in the last few years, China and India have been growing in volume terms.

According to the International Data Corporation, the total value of sale of printing equipment in the world will stand at $717 million by 2021. The value of the digital printing market would be $119.5 million by the same year. India has had a 5.3% CAGR growth in terms of digital pages printing in 2017, the highest in the world, followed by China at 3.7%.

Printing market is seeing an increasing number of home consumers along with booming SME market which is going through heavy compliance post GST, suggests analysts. Government procurements are also seeing an increasing demand these days which is altogether a definite factor for the market growth.