The list honours 100 corporations and institutions around the world "that are at the heart of innovation".

Ricoh New Zealand Managing Director Mike Pollok says the Ricoh brand is built on innovation, which is the key ingredient for business success today and in the future.

That view reflected in the Thomson Reuters financial analysis which shows the organisations in the 2012 Top 100 Innovators List outperforming the Standard & Poor's 500 by 3% in their market cap weighted revenue (15% versus 12%).

"We are delighted that Ricoh Group has been included in the list because it reinforces the importance of innovation and recognises that Ricoh practices what we preach," Pollok says. "Innovation is not only the key to greater profitability but also the key to business survival. Organisations that can continuously improve and adapt to change will survive. Bluntly, those that are inefficient and can't deal with the technology revolution will fade or die."

Criteria for the Top 100 Global Innovators list are patent related to reflect innovative products and services, and Pollok says Ricoh New Zealand is playing its part.

"This year our National Service Division developed RIFLE (Ricoh's Intelligent Fault Logging Engine), a unique locally developed online system which has improved service efficiency for both Ricoh New Zealand and its clients. RIFLE has received praise and interest globally from within the wider Ricoh Group."

Pollok credits Ricoh New Zealand's ethos of innovation with countering the current economic conditions to make 2012 a year of record profits.

Ricoh was traditionally a supplier of business machines but in recent years has moved to become a provider of value-adding business solutions. The company adds value for its customers by understanding their business, helping them to imagine future possibilities and changing through innovation in document and IT solutions.

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