Ripcord and Fuji Xerox create joint venture to accelerate digital transformation
Ripcord, a robotics and integrated SaaS digitization company, has formed a joint venture with Fuji Xerox Co., Ltd., a multinational corporation in document management solutions, to bring digital transformation technologies to Japan and the APAC region. The joint venture will benefit businesses seeking to digitize content management processes to better leverage organizational data and adjust to quickly changing customer expectations. The aim is to reach sales of over $300 million by the mid-2020s.
According to Ripcord and Fuji Xerox, businesses across industries have been racing to digitally transform their paper-intensive operations as a result of the COVID-19 pandemic. These businesses require faster and location free access to better understand their data and content.
With FUJIFILM RIPCORD, Ripcord’s vision-guided robots, advanced AI, and machine learning content software technologies combined with Fuji Xerox’s know-how on business process outsourcing services and document solutions will help customers streamline operations, accelerate digitization and time-to-value, reduce costs and significantly reduce labor costs associated with digitizing and modernizing legacy business processes. For Fuji Xerox, Ripcord’s technology will provide a much higher value-add data management offering to their new and existing customers in an accelerated manner.
“By combining Ripcord’s advanced technologies and Fuji Xerox’s cultivated know-how in business process outsourcing services, FUJIFILM RIPCORD will deliver innovation that drives digital transformation forward for our business customers,” said Kouichi Tamai, president and representative director, Fuji Xerox. “We are committed to constantly delivering business innovations by quickly responding to changes in the market environment and always bringing value to our customers.”
With its vision-guided robots and intelligent software, Ripcord empowers businesses to go paperless by combining hardware and software robotics to process and digitize paper-based records. Once digitized, Ripcord leverages its integrated SaaS software Canopy to make new and existing data searchable and malleable in the cloud—enabling organizations to innovate in industries still entrenched in paper processes. Ripcord helps companies turn data into insights, resulting in improved customer experiences, increased growth, and enabling employees to put insights into action to drive the business forward.
“Digital transformation is atop every global CIO’s priority list. With this joint venture, Fuji Xerox and Ripcord can offer end-to-end solutions with our vision-guided robots, ML- and AI-powered classification, and advanced entity extraction that meet the needs of the most demanding global brands,” said Alex Fielding, CEO and co-founder of Ripcord. “The latest in Ripcord’s tremendous momentum, this joint venture, combined with Fuji Xerox’s innovation-driven leadership in document solutions, will create a set of unrivaled solutions to meet the needs of our customers as we continue to expand across the globe.”
The joint venture with Fuji Xerox will continue to drive Ripcord’s expansion globally, with better service and support for existing customers that have Japan- and APAC-based operations.