Canon eyes Rs 40 cr from business services division

Firm will offer digital document management and print room services to pharmaceuticals, banking and financial services, telecom and energy

Japanese tech giant Canon is eyeing Rs 40 crore in the next three years from its newly created CBS division, which will offer digital document management and print room services.

Using CBS (Canon Business Services), the firm will offer digital document management and print room services to various verticals like pharmaceuticals, banking and financial services, telecom and energy.

The company currently offers two services -- digitisation and archival and print room service -- and will add more offerings by the end of the year.

"We have seen good success with our managed services and are now introducing CBS. We want to help customers with all their printing needs. In five years, we expect CBS to be a Rs 100 crore business," Canon India Executive Vice President Alok Bharadwaj told PTI.

He added that in the first year, Canon aims to get Rs 10 crore from the new business and reach Rs 40 crore in the next three years.

"We have already signed on four customers for Canon Business Services and another one will be on board on. We expect this business to grow 100 per cent annually over the next few years," he said.

CBS will address the current needs of Indian firms by enabling them to outsource their printing and document management needs and in turn, streamline their printing infrastructure and processes.

"With an increasing demand for faster decision making, companies are aiming for business efficiency, cost reduction, improved turnaround time and serviceability. There is a high demand for managed integration of office functions across businesses and government," Bharadwaj said, adding that CBS will cater to this demand.