Business today is all about making the maximum profit from the resources that are available and therefore every business company is trying to ensure that they cut down all the excess costs in order to earn the profits. Office documentation can really take up a lot of revenue of the company because millions are spend on printing and paper work of the company. Ricoh is the global leader of digital office document management and they have recently come up with their new global announcement. In their recent announcement they said that they would like to invest additional $300 million to Ricoh global managed document service also known as MDS. Managed Document Service is a global service that Ricoh provides to all major companies who would like to cut down their office documentation cost.

Ricoh announced that they will definitely grow with this shift in the business model because it will help them to be more productive in the future. Additionally, it will also help their customers to handle their documents in a better way and they will see improvement in their workflow and productivity. Ricoh also said that they had recently done a research with IDC and they found that most companies today prefer to effective office document management to bring down their overall expenditure. Angele Boyd, IDC Group Vice President and General Manager, Imaging/Output Document Solutions and SMB stated that companies can save up to $6 million using Ricoh’s new office document management services.

Ricoh had also done one more research in partnership with IDC and they came to a conclusion that many companies who are not using these services are aware of the information and document workflow expenditure but they are not sure on how to cut it down. Ricoh found out that in most cases the cause for it is fragmentation of departments in organizations and also because of low level of awareness about office document management. Speaking to the people, Shiro Kondo, President and CEO of Ricoh Company said that this will help their customers to be more productive and responsive in the future and also help them to achieve their annual targets.