20. Ricoh UK digital services

UK revenue (FY ending March 2024): £416.5m
Services revenue: £210m

Ricoh UK is continuing its evolution into a digital services powerhouse, with £210m of its £416.5m FY24 revenue now coming from services, according to numbers shared with CRN – a clear signal of the company’s ambition to grow beyond its print heritage.

While overall revenue dipped slightly year on year – largely due to market headwinds in office services – Ricoh saw growth in both commercial and industrial print, along with rising demand for consultancy and recurring annuity revenue from device usage. Internally, the company is continuing to reshape itself by streamlining support functions and right-sizing teams to align with the changing profile of customer demand.

As AI and hybrid work redefine what the modern office looks like, Ricoh is leaning into technologies that support workplace experience. Its in-house platform Ricoh Spaces is helping customers rethink everything from desk booking to employee engagement. The acquisition of Pure AV in 2022 has also bolstered its audiovisual and meeting room capabilities.

To support this shift, Ricoh has been actively reshaping its UK business – simplifying internal structures, expanding shared services and evolving its go-to-market to better reflect customers’ changing expectations. These customers, Ricoh says, are under increasing pressure to reduce costs, streamline IT operations and build more engaging employee experiences across distributed workforces.

Ricoh’s culture of "fulfilment through work" is underpinned by a strong investment in talent. From apprenticeships that preserve long-term customer knowledge, to retraining engineers on smart lockers and cloud platforms, the company is focused on empowering people across generations to thrive in tech-led roles.

As part of its evolution, Ricoh is investing significantly in skills and people. Apprenticeships now span cybersecurity, business analysis and engineering – with over 100 current participants. “It’s not just about plugging the skills gap – it’s about future-proofing our knowledge base and giving customers continuity in their experience with Ricoh,” the company said.