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Ricoh Partners With Watershed, Launches Sustainability Services Dashboard for Customers

April 25, 2024 by Joe Panettieri

Ricoh USA has launched a Sustainability Services Dashboard that allows customers to "measure, report and act upon emissions data associated with Ricoh Digital Services." The dashboard leverages software from Watershed -- a fast-growing provider of enterprise-focused sustainability reporting tools.

Ricoh, like multiple printer companies, has been evolving to offer various software and IT services -- including lifecycle management, communications management and digital transformation capabilities.

Sustainability-related services could be an opportunistic next move. Indeed, the market for green IT services will reach $34.83 billion by 2030 — up from $12.46 billion in 2021, according to Coherent Market Insights. That’s a 12.4% compound annual growth rate (CAGR), the report noted.

Scope 3 Reporting, Corporate Sustainability Reporting Directive (CSRD) Compliance

Amid that backdrop, Ricoh says the dashboard will help customers to align with compliance mandates such as the Corporate Sustainability Reporting Directive (CSRD). In particular, the dashboard helps customers to track on their Scope 3 supply chain emissions. Moreover, the dashboard provides recommendations to help customers and suppliers source renewable energy and fine-tune additional variables in their supply chains.

We're checking to see if the Ricoh USA dashboard is multi-tenant for MSP partners to manage sustainability for multiple customers.

Lauren Sallata, chief marketing officer, Ricoh North America

Watershed, meanwhile, is a high-profile software startup. The company, based in San Francisco, California, was founded in 2019. By February 2024, Watershed raised $100 million in Series C funding at a $1.8 billion valuation. Greenoaks led the round. Kleiner Perkins, Sequoia and other existing investors also participated in the round.

Sustainability Software Dashboard: Executive Perspectives

In a prepared statement about the dashboard, Lauren Sallata, chief marketing officer for Ricoh North America said: "Addressing Scope 3 emissions is critical for companies committed to sustainability, yet it has been a near-impossible task for many until now. Ricoh's Sustainability Services Dashboard empowers our customers to measure, understand, and reduce emissions, establishing a baseline to transition to more sustainable services while meeting increasing regulatory and compliance demands."

Jessica Shalek, head of climate advisory, Watershed

Added Jessica Shalek, head of climate advisory at Watershed: "The first step to decarbonization for any business is a deep understanding of their carbon footprint, including the emissions from their supply chain. We applaud Ricoh for putting supply chain data directly in the hands of their customers — making it simpler for those companies to form a full picture of their Scope 1-3 emissions and take actions to reduce them."

Multiple Sustainability Initiatives

Ricoh has aggressively rolled out various sustainability initiatives across its business, product lines and supply chain.

Among the proof points: The company is positioned as a leader in the IDC MarketScape for Worldwide Sustainability Programs and Services Hardcopy 2023 Vendor Assessment. Moreover, Ricoh is part of the Dow Jones Sustainability World Index (DJSI World Index). And the company has regularly earned EcoVadis honors.

Meanwhile, several of Ricoh's rivals are launching sustainability-focused products and partner programs. For instance, printer maker the HP Amplify Impact partner program has multiple sustainability components.

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