For Xerox, services overtakes products as the company's India biz grows

For a company synonymous with photocopying machines, Xerox fast made inroads into the services space globally. 

Now, the Norwalk (US)-based company seems to have gained the momentum in India also where services component business has now overtaken the products business in line with the rest of the world. 

The company, today, has over 200 enterprise customers in India, while at least 11-12 of those contracts have been signed in the last five months.

“Our services component has grown over the past few years and majority of the business is currently service-based. We are now working with large enterprise, corporate and government customers to move their physical process to digital,” said Raj Kumar Rishi, Managing Director of Xerox India. 

Much of the change in the business model has come from businesses cutting down printing requirements due to cost concerns, environmental efficiency, as well as overall security. 

This has prompted Xerox to partner with security providers like McAfee to design a security system to help companies protect against threats to confidential data. Integration with Cisco TrustSec has further enabled all multi-function printers’ endpoints to enforce IT-centric security policies and compliance. 

“We see almost a third of the clients coming from the BFSI (Banking, Financial services and Insurance) and manufacturing sectors. The printing of MICR (magnetic ink character recognition) cheques for banking is largely done on Xerox printers, including the welcome kits that many of the top banks offer their customers,” he said. 

Xerox recently announced a partnership with Indraprastha Apollo Hospitals on similar document management services. 

Xerox is also seeking to get a lot of government-led digitisation projects on the back of their recent involvement with a large scale government project in Bangladesh.