As per the industry estimates, globally for every dollar spent on hard costs, another $9 is spent managing the printed documents over their life cycle. Considering that global enterprise companies will spend more than $172 billion on printing this year, the costs associated with managing this information can be staggering.
In today’s highly volatile market situation, a company wants a partner to not only understand the needs of their business, but also share the risks of the business.
Organizations are especially looking at a switch from the capex (Capital expenditure) to opex (Operating Expenditure) model by getting in to complete Document Management Solution, roping in an external consultancy with expertise and skill. The implementation of MPS can reduce costs up to 30% of the total printing cost per annum along with significant reduction in the carbon foot print.
Managed Print Solutions market continues to experience explosive growth, according to research. Studies indicate that the world market grew from $20 Bn in 2008 , further to $ 24Bn in 2009, and is forecasted to become $ 68Bn market by 2014.The market’s 24% compound annual growth rate (CAGR) continued despite the 2008 economic crisis and slow recovery in North America and Western Europe.
Managed Print Solutions market continues to experience explosive growth, according to research. Studies indicate that the world market grew from $20 Bn in 2008 , further to $ 24Bn in 2009, and is forecasted to become $ 68Bn market by 2014.The market’s 24% compound annual growth rate (CAGR) continued despite the 2008 economic crisis and slow recovery in North America and Western Europe.
Global MPS market from 2008 to 20014
MPS in INDIA
The new Photizo study found that Asia Pacific is the fastest growing MPS region, with six of the top ten fastest growth countries, led by India. (Source: mpsconnect).
With India emerging as a favorite IT destination and as an international hub of business and knowledge outsourcing during the global downturn, a huge opportunity was created for the MPS business. Enterprises started focussing on the core competencies, and non-core job of printing was given to the MPS experts. This led to enhancement of personnel productivity, system efficiency and reduction in cost for the organisations.
MPS being phenomenally accepted in the Indian market drew US$86 Mn in annual revenue in 2010 and is expected to grow at US$140 Mn by 2014
MPS Industry Revenue from 2010 to 2014
Major industries for MPS adoption include IT, BPO, financial services, manufacturing and healthcare, of which the majority are enterprise customers. Although enterprise corporate in India are the most likely to engage in an MPS program, the number of SMB accounts is also growing. There is still an untapped MPS-SMB market, which is very large. There are 35 million SMB units in India, making it the second largest SMB market amongst BRIC (Brazil, Russia, India and China) and US market. *.
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“MPS Market Size, Share, and Forecast Report” from Photizo Group, leading research and consulting firm for the managed print services market
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According to management consulting firm Zinnov
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Mpsinsights from Photizo Group
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Datanet’s Objective
Datanet Systems Limited, acquired the MPS division of Wep Solutions which was a pioneer in document management industry. It provides effective document management solutions that will not only help an organization to print more responsibly, but also manage the documents in a more organized way aided with the benefit of cost reduction.
The approach to document management aims at working on the workflow of the documents in the organization which will help in easy storage and retrieval of the documents along with providing printing benefits.
The company will be targeting the Indian market with an approach to capture the major chunk of the market which is currently formed by SMBs who are the major contributors of the GDP of India, and are apt for the MPS business in India.
For large organizations, the company offers a complete document management solution which will take care of all the requirements related to documents and make the workflow easier and hassle free.
Sources:
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Photizo Group- “MPS Market Size, Share, and Forecast Report”
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“MPS Insights” – Photizo Group