Canon makes strategic inroads into B2B rental business

In a bid to take forward its commitment to the next level, Canon India Pvt Ltd has announced an investment of Rs 100 crore towards enhancing its rental business as well as infrastructure to support B2B business. The strategy is to combat the current economic downturn as well as create a growth driver for its Business Imaging Solutions Division. This competitive leasing plan from Canon India is designed to assist the corporate across categories to adopt the latest technologies in document management without having to invest upfront.

Building upon the success of Indian service verticals like education, publishing, telecom and BFSI, Canon announced the launch of hi-speed mono production digital press range under award-winning imagePRESS line. The new flagship model, imagePRESS 1135 is a versatile and highly reliable product suitable for mission critical applications like large scale bill printing. With this launch Canon now offers an enhanced portfolio of 80 business imaging products and solutions.

“As an industry leader, Canon India had made investments in three demo centres called Business Solution Lounges last year. In the current downturn, sustaining operational excellence without additional capital investments has become a necessity for corporates across sectors. We at Canon have taken the lead in partnering with our customers to create a rental business model. This required higher capital infusion. Hence, we decided to invest Rs 100 crore in Canon India’s capital base,” said Kensaku Konishi, President & CEO, Canon India.

Speaking on the occasion, Alok Bharadwaj, Senior Vice-President, Canon India, said, “We are going to be offering the facility of rental machines through our team of 80 sales people in direct sales business division that handles top 500 corporate accounts as well as the commercial print segment in India. This year, the rental business will be contributing Rs 60 crore to Canon India’s turnover. We expect the rental business to contribute Rs 100 crore as we target Rs 1,000 crore revenues next year.”