In order to achieve a revenue target of `1,000 crore by 2022-23, we are also augmenting our operations across the board – right from our channel strategy to product innovation, says Kuldeep Malhotra, Vice President, sales, Konica Minolta Business Solutions India
Konica Minolta Business Solutions is a leading player in advanced imaging and networking technologies. The Japanese technology multinational reckons that innovative digital printing products are being adopted at a rapid pace across industries because of their better operational efficiencies, seamless workflows, lower printing costs, and minimal wastage. Despite the overall printing market in India growing slowly, under the leadership of Kuldeep Malhotra, vice-president, sales, Konica Minolta Business Solutions, the company has shown double-digit growth year-on-year. In an interaction with Sudhir Chowdhary, he talks about the company’s plans to expand the business portfolio in India. Excerpts:
Tell us about Konica Minolta’s performance in office products?
Konica Minolta India has registered impressive business growth across all business units in 2018, reaching a revenue milestone of `693 crore. At 18%, our year-on-year growth was also much higher than the overall industry average. We have seen a robust growth in office products segment, which accounted for 35% of our total revenue in 2018-19. Konica Minolta currently holds overall 16% of the market share in the office product segment. In 2018-19, the overall office product market has grown at 26%.
What are the recent advances in the field of digital printing technology?
Digitalisation remains the key growth driver for the printing industry. Innovative digital printing products are being adopted at a rapid pace because of their better operational efficiencies, seamless workflows, lower printing costs, and minimal wastage. Digital printing also allows for a high level of customisability and superior print quality. This aligns with the current needs of the market, which is moving towards greater personalisation and seamlessness. Moving ahead, we can expect greater demand for intelligent products that are designed on state-of-the-art digital technologies such as cloud and mobility. The government’s push to drive growth in sectors such as smart cities, tourism, shipping and logistics, etc., will also drive the demand for new-age office printing products that can cater to the increased documentation requirements. We also expect a substantial increase in the adoption of innovative document capture and workflow management solutions that can enhance and optimise print operations for businesses.
How do you plan to further strengthen the growth and services offerings?
As far as the business aspect is concerned, we will be following a multi-pronged strategy to further accelerate our current growth trajectory. To begin with, we are looking at strengthening our on-ground presence and are already bolstering our channel network. We are also making significant investments in manpower and skill development across India with dedicated sales and service training programs for our direct and partner teams.
We will additionally be focusing on BTL and digital activities, roadshows, and exhibition participation to increase our brand presence in the Indian market. This will help us establish a stronger foothold in the SMB, corporate, and government segments while strengthening our leadership position in core verticals with office MFsPs, and solutions.
What are the future plans for the company and the next phase of growth?
Currently, our primary focus is to enhance Konica Minolta’s brand image in India and establish it as the preferred OEM for all digital printing requirements across all. In order to achieve a revenue target of `1,000 crore by 2022-23, we are also augmenting our operations across the board – right from our channel strategy to product innovation.
What are the new products/solutions that Konica Minolta plans to roll out in near future?
Recent trends have also been extremely positive and underline a huge growth potential for innovative digital printing products. We are looking to make deeper inroads into the corporate, SMB, and government segments with more innovative office printing products and solutions.