ENX Magazine November 2018 Issue

NOVEMBER 2018

VOLUME 25 NO. 11

Connecting People, Ideas and Products in the Document Technology Industry since 1994

engage ‘n exchange LEAD 2018 CONFERENCE THE CROWNING JEWEL TO SUCCESSFUL GROWTH YEAR FOR TOSHIBA CAPITAL IMPROVEMENTS: FROM THE ECONOMY TO RISING INTEREST RATES, LESSORS CHART THE LENDING MARKET

THE 21ST CENTURY SALES APPROACH:

SOUND 21ST CENTURY SALES STRATEGY HINGES ON MARKETING R&D, NEW WAYS OF DELIVERING IN FUTURE

Where Training, Software and Analytics Meets Old-Fashioned People Skills

Dan Reilly, Caltronics Business Systems

STRENGTH IN NUMBERS, IDEAS: CALTRONICS BUSINESS SYSTEMS LEVERAGES FLEX TECHNOLOGY GROUP RELATIONSHIP TO TARGET UNPARALLELED GROWTH

ENX Magazine

PO Box 2240 Suite 729 Toluca Lake, CA 91610-0240 USA

tel: 818-505-0022 fax: 818-505-9972 email: enx@pacbell.net www.enxmag.com

We would like to thank those of you who have sent us address change information.

HELP US CONSERVE NATURAL RESOURCES To correct or delete your address from our subscription list, please call, fax or email us.

Mitch Plesant, Partner & EVP, Spectrum Technologies; Tawnya Stone, VP, Strategic Technology, GreatAmerica Financial Services

BUILD FOR TOMORROW “GreatAmerica has been instrumental in our strategy to bundle multiple technologies and services under one document. They are true partners as we continue to revolutionize our business.�

Mitch Plesant Partner & Executive Vice President Spectrum Technologies

An Open Letter to The Imaging Channel Chapter 5: Why iDaaS and SBB are Inevitable The trend in IT services is to pay a predictable monthly cost for your services. You’ve been doing it for years with your mobile phone and your home internet, as well as almost all of your monthly subscriptions. Businesses don’t ask about how much time you spend watching TV or what you watch. You pay for a service, and the service provider averages out your costs with thousands of other customers to give you a bill.

At the same time, we have seen significant improvements in smaller color desktop A4s. They print better, they last longer, and they cost less than they did a few years ago. Ignoring this reality, and continuing to sell a model of centralized print at a lower cost per page, is becoming harder as companies catch on to the new A4 reality. Complicating this is the fact that page volumes are declining, and print is now more a necessary evil than a convenience.

Print needs to fit into the IT world, not the other way around, and the antiquated way of billing people, based on pages used, (down to the individual page!) is not the way every other technology service bills their customers. Auditing a bill is a painful process, and predicting those charges monthly is nearly impossible.

Financial managers do not like monthly bills that are the proverbial “box of chocolates” (you never know what you’re going to get.) Worse than that, many customers are billed for more than they actually print.

iDaaS and SBB are inevitable in light of this new reality. Now more than ever, your dealership needs to adopt them as part of your product offering. When you do, it will be imperative to understand your costs. Which devices are the most efficient? Which service technicians are costing you money? When should I service a device vs simply replace it? If you move to a different model, it is critical to know your costs. You can no longer hide behind this industry’s unusually high margins with average service efficiencies. BEI provides your business with the visibility to confidently add iDaaS to your business.

But as important, BEI can provide you with the cost control solutions that will make this transition a profitable one.

“

Imaging Device as a Service (iDaaS) and Seat-Based Billing (SBB) have arrived at your customer base. We should not be debating “if” we should implement it, but rather “how” do we do it.

”

Think about how focused our industry has been on determining that all-important cost per page, it’s driven our device placement strategy beyond other factors like convenience and efficiency. Dealerships’ strategies are often at war with themselves. Imagine selling an efficient A3 color MFP, espousing a low CPP, then turning around and selling software that limits color printing and restricts volume?

Would you rather start an iDaaS conversation with your customers today, or wait for them to tell you someone else has made them a more compelling way to manage their printing needs? Contact BEI Services so you have the analytics to confidently and profitably make the move to iDaaS.

Wes McArtor President, BEI Services, Inc.

EMPLOYEES WE ARE NOT WE DO NOT WE DO NOT NO LOSE THEIR JOBS A PRIVATE EQUITY

CHANGE YOUR CHANGE YOUR AS A RESULT OF THE GROUP NOR ARE WE MARQUEE... MANUFACTURER(S)... ACQUISITION... OWNED BY ONE...

Visual Edge Technology incorporates a strategy of operating through established successful companies across the U.S., focused on providing a broad line of client solutions, including managed IT services, office automation solutions, multifunction products for print, wide-format solutions, managed print services and document management software. Visual Edge Technology companies represent brands Canon, HP, Konica Minolta, Kyocera, Ricoh, Samsung, Sharp, Toshiba and Xerox.

Visual Edge is continually focused on identifying successful companies to join our strategy.

Michael Brigner

• A B Dick Office Solutions, MI • A-COPI Office Solutions, ME • American Copy Service Center, CT • Axion Business Technologies, RI, MA • AXSA Imaging Solutions, Inc. FL, GA • Benchmark Business Solutions, TX & NM • Brady Business Systems, MI • Business Technology Partners, FL • Commonwealth Technology, Inc., KY, IN • Copeco, Inc., OH • Copier Source, Inc. d/b/a Image Source, CA • Counsel Technology, IA • Dunn’s Business Solutions, MI • FastForward Digital Solutions, FL • Graphic Enterprises Office Solutions, OH • Graphic Enterprises, OH • Janco Office Systems, CT • Kenmark Office Systems • MCM Business Systems, WV • Mercury Document Imaging Co., Inc • Midwest Automation, NE • N2N Technologies Inc. IN • Netwise Resources, Inc., IN • Office Systems, VT • Premier Business Products, MI • Technocom • TLC Office Systems, TX • United Business Machines, NH • WBS Technologies, FL • XMC, Inc. TN, AL, GA, AR, MS • Zymphony, FL

Senior Vice President

Vice President of Business Development

Michael Cozzens

David Ramos

mbrigner@visualedge.com

mcozzens@visualedge.com

dramos@visualedge.com

Chief Strategy Officer

GIVE US AN OPPORTUNITY TO SHARE WITH YOU WHY THIS IS IMPORTANT AND WHY OVER 30 COMPANIES HAVE JOINED OUR STRATEGY!

NOVEMBER 2018

VOLUME 25 NO. 11

Connecting People, Ideas and Products in the Document Technology Industry since 1994

engage ‘n exchange LEAD 2018 CONFERENCE THE CROWNING JEWEL TO SUCCESSFUL GROWTH YEAR FOR TOSHIBA CAPITAL IMPROVEMENTS: FROM THE ECONOMY TO RISING INTEREST RATES, LESSORS CHART THE LENDING MARKET SOUND 21ST CENTURY SALES STRATEGY HINGES ON MARKETING R&D, NEW WAYS OF DELIVERING IN FUTURE

STRENGTH IN NUMBERS, IDEAS: CALTRONICS BUSINESS SYSTEMS LEVERAGES FLEX TECHNOLOGY GROUP RELATIONSHIP TO TARGET UNPARALLELED GROWTH

THE 21ST CENTURY SALES APPROACH:

Where Training, Software and Analytics Meets Old-Fashioned People Skills

Dan Reilly, Caltronics Business Systems

In This Issue

24

DEALER SPOTLIGHT

Strength in Numbers, Ideas: Caltronics Business Systems Leverages Flex Technology Group Relationship to Target Unparalleled Growth

By Erik Cagle

16 STATE OF THE INDUSTRY

The 21st Century Sales Approach: Where Training, Software and Analytics Meets Old-Fashioned People Skills

By Erik Cagle

32 CHANNEL INSIGHT

LEAD 2018 Conference the Crowning Jewel to Successful Growth Year for Toshiba

By Erik Cagle

34 LEASING & FINANCING ROUNDTABLE

32

Capital Improvements: From the Economy to Rising Interest Rates, Lessors Chart the Lending Market

By Erik Cagle

40 SALES MANAGEMENT

Sound 21st Century Sales Strategy Hinges on Marketing R&D, New Ways of Delivering in Future

By Charles Lamb

44 MARKET WATCH

To the Future, and Beyond: Taking Office Equipment Financing into the 21st Century

By Fred Carollo and Denis Stypulkoski

40

46 SERVICE MANAGEMENT

Secure the Recurring Revenue

By Ken Edmonds

49 TECHNICAL TIPS

Xerox WorkCentre 5945/5955 & B8090 Families of MFP Copiers: Introduction Part 2

By Britt Horvat

51 PRINTER TECH TIP

HP LaserJet Enterprise M607-M608-M609 and HP LaserJet Managed E60055-E60065-E60075

52 DISPLAY ADVERTISERS INDEX

51 6

•

www.enxmag.com | November 2018

We Saw It In ENX Magazine

Contributors

Staff

FRED CAROLLO is Vice President of Originations, Office Products at TIAA Bank. Fred brings a unique perspective to TIAA Bank. Having been a business owner, he clearly understands the challenges that companies face in financing and acquiring equipment. As a leader in the Vendor Equipment group, with over 27 years of Office Equipment Leasing experience, Fred has achieved significant growth for the organization.

Susan Neimes

KEN EDMONDS served at Sharp Electronics and then at Konica Minolta Business Solutions as a problem solver in both technical and service management issues for nearly 16 years. He retired from Konica Minolta as a District Service Manager in 2018. He has over 40 years of experience in the imaging business, having owned a successful dealership and served as service manager for multiple dealerships. He is currently consulting with dealers on strategies to improve profitability. View his blogs at www.kedmonds.biz and/or email at ken@kedmonds.biz.

Publisher & Managing Editor

Erik Cagle

CHARLES LAMB is the President and CEO of Mps&it Sales Consulting. His firm delivers proven methodologies and processes that assist dealer principals seeking a successful transformation into the managed services space. He’s created complementary solutions including Funnelmaker, Gatekeeper, and Shield IT services. For more info, call 888.823.0006, e-mail him at clamb@mpsandit.com, or visit www.mpsandit.com.

Editorial Director

DENIS STYPULKOSKI is Senior Vice President and CIO of vendor equipment finance at TIAA Bank. He is responsible for designing IT solutions and services for the firm’s commercial business using state of the art technologies. Denis has over 20 years of IT experience spanning global companies to startup opportunities within the commercial finance and banking industries.

Ronelle Ingram Contributing Editor

TECHNICAL ARTICLE CONTRIBUTOR

BRITT HORVAT works for The Parts Drop, a company whose primary business is providing parts, supplies and information for Xerox brand copiers, printers and fax machines. You can find more information, including many of Britt’s past ENX articles on their website www.partsdrop.com.

2018

ELITE DEALERS G

2018 I

N

Th

A eW ee k In I M

G

•

Editor

engage ‘n ex engage ‘n exchange

CONGRATULATIONS TO 2018 ELITE DEALERS

engage ‘n exchange

www.enxmag.com | November 2018

México & Latin America

La Revista del Distribuidor Dealer Source

engage ‘n exchange

Corporate Office

Susan Neimes - susan@enxmag.com Erik Cagle - erik@enxmag.com 10153 1/2 Riverside Drive, Suite 729 Toluca Lake, CA 91602 tel. 818-505-0022 • fax. 818-505-9972

Meet 2018 Elite Dealers In the December Issue of ENX Magazine www.enxmag.com

8

Christina Kim

ENX Magazine is published monthly by Affinity Business Communications, Inc. Any inquiries should be sent to: enx@pacbell.net or mailed to the corporate office.

Copyright ©2018 by ENX Magazine printed in the U.S.A. All reproduction in whole or part is prohibited without written permission. Cover photo from depositphotos.com

We Saw It In ENX Magazine

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ENX Magazine | www.enxmag.com

All prices, rebates, and availability are subject to change without notice. Please call us to confirm.

Nuworld is not responsible for typographical errors or inaccurate specifications. Registered trademarks are properties of their respective owners.

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All prices, rebates, and availability are subject to change without notice. Please call us to confirm.

Nuworld is not responsible for typographical errors or inaccurate specifications. Registered trademarks are properties of their respective owners.

NBS / ENX | November 2018

Since 1985

Your Prime Source T EL: 800.729.8320

FAX: 800.829.0292

PROMOTIONS ALL INSTANT REBATE PROMOS ARE VALID THROUGH DECEMBER 31, 2018 TO CANON PREMIER PARTNERS OR WHILE SUPPLIES LAST!

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Erik Cagle

State of the Industry

The 21st Century Sales Approach: Where Training, Software and Analytics Meets Old-Fashioned People Skills

T

he most senior of office technology dealership executives, from owners to VPs of sales to grizzled down-the-street sales reps, can fondly recall (perhaps fondly is not the accurate term) the days of loading copiers into the backs of wood-paneled station wagons, then lugging them into the office for a customer demo, often times sweating up a storm while hopefully not getting black gunk on their suits.

The last 40 years have witnessed considerable changes in the technology we’ve brought to the client, not to mention the manner in which we’ve done so, along with the value proposition we’ve espoused in the process. Since about 1998 or so, when the age of the internet truly began to take root, websites made it easier for our wares to be found. In the ensuing years, we’ve tailored these sites to go beyond mere digital brochures of our offerings to an interactive marketing channel complete with videos, white papers, testimonials, blogs and other educational resources beyond the basic product catalog.

WE REALLY ARE AT THE VANGUARD, THE FOREGROUND OF INNOVATION IN BUYING THE WORKFLOW TOOLS THAT WE RECOMMEND TO OUR CUSTOMERS FOR THE MPS COPIERS SALES MOTION. Darren Metz, Novatech But as much as technology has endeavored to automate the buying process, we still ascribe to a sales process that is highly personable. At the same time, it is also dependent upon an individual to not only adroitly demonstrate a product and value proposition that is reflective of our dealership, but also drives home a point of differentiation. Decision makers have a wealth of buying options, yet their time and focus on any one sales call is extremely limited.

During their Road Shows last summer, Lexmark executives pointed to a statistic that bore out what is 16

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www.enxmag.com | November 2018

an unfortunate truth—you have about seven seconds to grab someone’s attention. Pick a subject, sit down with a toddler and see how long you can keep his or her attention. The toddler will instantly let you know that they’ve lost interest in you; a client’s reaction will be a lot more subtle.

A healthy supply of breath mints, a firm handshake and the ability to hold serve in a conversation about last week’s big game may have been excellent conversation starters in the 1980s and 1990s.

However, the evolution of the buyer and the onset of the millennial generation in the modern workforce has changed the rules and the mindset behind sales engagement. We’ve culled the ideas of several major office technology dealerships to learn how they’ve adjusted their approach to sales, along with the tools they’ve employed to effectively keep pace with the competition and expand their growth potential.

Eliminating Paperwork Darren Metz loves the irony that, in order to sell more product that produces toner on paper, it was critical to eliminate paperwork in order to be more successful. The CEO of Nashville, TN-based Novatech saw his dealership embark on a two-year mission to tailor its Salesforce CRM software from the ground up, with custom pricing and quoting. All reps are now armed with Microsoft Surface laptops or tablet devices with the software and can generate custom quotes with paperwork tools. They can sit down with the client, provide a made-to-order quote, qualify the customer and have the client sign off on the deal with a finger signature on the device.

This method has eliminated valuable time from the equation. One of the critical elements for Novatech was working with Wells Fargo to accept digital signatures for leasing. The process also entails all release forms, delivery and acceptance (D&A) sheets and service contracts. The D&A is sent via email following delivery. It essentially condenses what was a process that could take four calls and up to two weeks, and enables it to be completed all in one call, on site.

We Saw It In ENX Magazine

continued on page 18

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The 21st Century Sales Approach: Where Training, Software and Analytics Meets Old-Fashioned People Skills “When you look at the average copier/BTA dealer, it’s a very paper-intensive business,” Metz said. “A lot of the paper is driven by the absence of software that you see in other industries for those workflows, and the unwillingness of third-party leasing companies to accept digital documents. We really are at the vanguard, the foreground of innovation in buying the workflow tools that we recommend to our customers for the MPS copiers sales motion.”

The one-call close has advantages beyond reduced paperwork.

If the rep has to set a second appointment to go over the quote, then it gives the prospect time to reconsider options. Also, when presented with a printed lease to sign, Metz estimates that about 20 percent of the time, the client will take a red pen to the terms and conditions.

“When you give them a digital document to sign, people won’t negotiate Ts and Cs on a computer. They just hit the ‘I agree’ button,” he said. “If you give them a pen and contract, they’ll start scratching things out. Clients have been trained thoroughly by all the software companies that you cannot negotiate terms… they passively click the button.”

configured to automatically generate proposals and paperwork while streamlining account tracking, forecasting and reporting.

According to Brad Cates, president and CEO of Prosource, the dealership is also making monthly investments in SEO and SEM, while incorporating social selling initiatives and training for its sales team.

“In 2017, we began a monthly investment in SEO to increase our online visibility, traffic quality and website lead generation,” he said. “This year, we are complementing our SEO efforts with an SEM strategy for our Technologies division. We have seen positive results from both strategies and have plans to adjust our website to continue the trend of positive online growth.

“Our social selling initiatives allow our team to pre-qualify prospects and personalize messages to prospects based on information curated from LinkedIn,” Cates added. “One tool, LinkedIn Sales Navigator, has become critical to our sales process because it helps our sales team become better and smarter with their prospecting efforts. It provides them with direct access to key decision makers in companies that fit our ideal client criteria.”

Sweeping Changes

Cincinnati-based Prosource has embarked on a number of initiatives to elevate its sales prowess. Chief among them is the creation of the Prosource Way, a strategic selling process launched organization-wide earlier this year. It provides sales teams the tools and training they need to grow their customer base, improve pipeline management and deliver value-based sales and customer experiences.

OUR SOCIAL SELLING INITIATIVES ALLOW OUR TEAM TO PRE-QUALIFY PROSPECTS AND PERSONALIZE MESSAGES TO PROSPECTS BASED ON INFORMATION CURATED FROM LINKEDIN. Brad Cates, Prosource

The success of the Prosource Way program is measured on net-new appointments, CRM adoption and usage, LinkedIn Social Selling Index scores, VIP tours and deal reviews. The impact has been immediately felt at Prosource, which has reaped record year-to-date revenue, an increase in the number of reps achieving quota, an increase in average revenue by rep, and improved hardware gross profit by capturing more value in the sales process.

Prosource also launched a new sales CRM solution this year to automate much of its sales processes. The system is 18

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www.enxmag.com | November 2018

WE SPEND LESS TIME ON JUST OVERVIEW-TYPE TRAINING AND INSTEAD HAVE THE MANUFACTURERS COME IN AND TRAIN ON THE SPECIFIC ISSUE WE’RE LOOKING TO ADDRESS. T.J. DeBello, Stargel Office Solutions

Manufacturer Support

Dealers such as Houston-based Stargel Office Solutions are also finding manufacturers to be a fertile source of sales ammunition through various vendor-support programs.

According to T.J. DeBello, vice president of sales and marketing, the dealership has benefitted from the support of Toshiba, HP and Xerox, all of which have invested a considerable amount of market development funds (MDF) on Stargel in 2018.

“HP had an exclusive event this year for our dealership that has helped drive great security conversations,” DeBello said.

“These conversations have actually helped our managed network business and MPS business, where we are seeing double-digit growth this year.”

One of the most significant changes for Stargel has been the frequency and topics that the dealership train on, according to DeBello. Reps will bring their various real-life challenges to the training meetings, and these scenarios are workshopped as part of a larger group, followed by training on products that can help address these issues. continued on page 20

We Saw It In ENX Magazine

The 21st Century Sales Approach: Where Training, Software and Analytics Meets Old-Fashioned People Skills “We spend less time on just overview-type training and instead have the manufacturers come in and train on the specific issue we’re looking to address,” he added. “The trainings are no longer mandatory to the rep. They sign in to the training and receive a bonus at the end of the year based on participation.

This actually has seen retention of the content being trained on go up, and resulted in a much more engaged sales team during the training.”

THE TRAINERS ASSIST IN PRE- AND POST-SALES SUPPORT BY HELPING THE SALES TEAM CHOOSE THE BEST TECHNOLOGY FITS FOR A COMPANY, TRAINING CUSTOMERS ON THEIR NEW MACHINES AND PROVIDING ONGOING TRAINING SUPPORT TO CUSTOMERS.

Going Deeper with Clients

The good news for a dealership such as KOMAX Business Systems of South Charleston, WV, is that the dealer has effectively blanketed its geographic space. Of course, herein lies the challenge as well. Bob Maxwell, president and owner, notes that there aren’t many businesses opening up that would be netnew candidates for KOMAX’s equipment and services. Thus, the dealership has made a concerted effort to go deeper with current clients via ancillary products and services.

I BELIEVE THAT THIS (BUTLER STREET) TRAINING HAS ENERGIZED OUR TEAM, AND WE ARE ALREADY SEEING RESULTS. Bob Maxwell, KOMAX Business Systems

“So far, this renewed effort with our existing customers has paid off,” Maxwell said. “We have been more successful with selling managed IT services, managed voice and mailing systems, to name a few.”

Aiding in this process is the relationship KOMAX has forged with Butler Street, which provides assessment and benchmarking tools, sales training, account management and leadership development solutions. “I believe that this training has energized our team, and we are already seeing positive results,” Maxwell added.

A Lesson in Sales

Centric Business Systems of Owings Mills, MD, has long fostered a consultative relationship with its clients in order to support the growth and sustainability of the organizations it services. One of its greatest selling points lies in its dedication to supporting its sales staff with product, solution and vertical market specialists. This entails the account executives and specialists providing a single-source solution for its clients’ document management needs.

To that end, Centric has overhauled its internal and external training programs. Its training team has one manager and a team of trainers, and each is dedicated to helping clients, as well as 20

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www.enxmag.com | November 2018

Rick Bastinelli, Centric Business Systems

new and experienced sales reps, make the most out of every opportunity, according to Rick Bastinelli, president of Centric Business Systems. “The trainers assist in pre- and post-sales support by helping the sales team choose the best technology fits for a company, training customers on their new machines and providing ongoing training support to customers,” he said.

In order to best leverage the dealer’s product and service portfolio, all new sales representatives are required to go through Centric University, an 18-day program that is spread out over four weeks. “In the fourth week, there is a practical final where the new hires are evaluated on their product knowledge and ability to conduct each step of the sales cycle,” Bastinelli noted.

Interstate Commerce

For KDI Office Technology of Aston, PA, its SalesChain CRM has proven to be an invaluable tool, maintaining all relevant client and prospect account information at its salesperson’s fingertips. It provides current lease information, invoicing and payments to ensure the dealer can provide top-notch customer service.

One of the firm’s true marks of differentiation, according to Don Schatzman, president of sales, is its blended marketing approach of social media platforms—LinkedIn, Facebook, Twitter, Instagram, etc.—with a pair of highly visible Philadelphia sports arena billboards situated off I-95 and I-76 in the City of Brotherly Love. These “conversation starters” communicate what KDI, its clients and business partners are doing while promoting causes, the local sports teams and seasonal messaging. Sales reps often use the billboard as a closing tool, offering joint advertising space to prospects as part of their deals.

“Once any of these billboards are scheduled, a live shot is taken and that image is then shared on social media so the message reaches an even broader audience,” Schatzman said.

“Anything posted socially is additionally tied to an RSS feed on KDI’s website. All of this drives KDI’s brand awareness in the local community, which boosts our sales effort.

“People are seeing the billboards and especially loving them during football season,” he added. “We then share and boost the continued on page 22

We Saw It In ENX Magazine

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The 21st Century Sales Approach: Where Training, Software and Analytics Meets Old-Fashioned People Skills

ONCE ANY OF THESE BILLBOARDS ARE SCHEDULED, A LIVE SHOT IS TAKEN AND THAT IMAGE IS THEN SHARED ON SOCIAL MEDIA SO THE MESSAGE REACHES AN EVEN BROADER AUDIENCE. Don Schatzman, KDI Office Technology

One of the challenges for KDI is getting some of the moreseasoned account executives to better understand how they can leverage social media outlets, particularly LinkedIn. Managers and reps were provided with a tutorial over the summer to see how they can gradually employ these platforms into their playbook to become more effective. KDI also provided one-onone training and LinkedIn profile writing assistance to a number of reps.

Tried and True Methods

Finally, and this is really one of the base tenets we observe when assembling our state of the industry features, there is the notion that what works for one dealership may not be feasible for another. And just as one modus operandi may not be viewed as cutting edge or representative of a futuristic approach, that does not make it less effective or unsustainable going forward.

Herein lies the beauty of the varied sales approaches we have detailed thus far, and can certainly be said of the approach used

by Commonwealth Digital Office Solutions of Sterling, VA. According to Mike Sarelson, Commonwealth president and owner, the dealership uses a telemarketing department of 15 operators to set up about 80 appointments per week for its sales division of 13 reps. None of the reps make cold calls, and the telemarketers are incented for the number of appointments they schedule each week (one is the base requirement). Sarelson notes that this process—which eliminates the most unpleasant and time-consuming aspect of the job for the sales crew—has 22

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www.enxmag.com | November 2018

served the company well for 35 years and he won’t be making any changes.

I’M NOT GOING TO FORCE SOMEBODY TO DO SOMETHING THAT IS COUNTER TO THEIR SUCCESS. WE LEAVE (TELEMARKETERS) ALONE TO DO THEIR WORK. Mike Sarelson, Commonwealth Digital Office Solutions

“When the term analytics is discussed, the only thing I want to pinpoint is where the machines are, what kind do they have and when does their lease expire,” he explained. “That’s the mission we have, and that’s why we have telemarketers in our program. We have zero turnover and haven’t hired a new sales rep in years. We only have one sales meeting a month. Our reps know what they’re doing and they’re very experienced.”

Telemarketing is the “heart and blood” of Commonwealth’s organization, and like the sales reps, many have enjoyed significant tenure with the dealer. They make between 60 and 120 customer calls per day, and the more successful telemarketers pull down upwards of $90,000 a year (they also receive a percentage on sales). It’s a job that requires a thick skin, Sarelson notes, and Commonwealth completely blankets its geographic scope using this method.

“I’m not going to force somebody to do something that is counter to their success,” he added. “We leave (telemarketers) alone to do their work. They’re a great department and they do a wonderful job.”

Commonwealth offers a President’s Club trip every 18 months for reps who hit their quota of $960,000 per year. In late October, the company took a Voyager cruise in Europe from Rome to Monte Carlo, complete with private suites and suite butlers. Admin and service personnel are also eligible for the trip, and Sarelson notes that most sales reps qualify for each trip.

“Guys don’t want to explain to their wives why they’re not going to Europe this year,” he chuckled. ♦ 2018

ELITE DEALERS 2018 G

posts featuring the billboards on our social media accounts to the local community, creating double brand awareness. It creates a sense of familiarity with KDI even if they haven’t used our services or products previously.”

Schatzman notes that KDI is increasingly leveraging manufacturer training from OEMs such as Canon, Ricoh and Lexmark, along with third-party software providers. This has provided go-to-market ideas and new sales strategies to become more effective. KDI is also making a concerted effort to focus on major accounts with verticalized selling, with training that examines where to find business, new ways to engage prospects and how to use manufacturer websites, tools and support information.

Th

A e W ee k I n I M

G

IN

CONGRATULATIONS TO 2018 ELITE DEALERS Meet 2018 Elite Dealers In the December Issue of ENX Magazine www.enxmag.com

We Saw It In ENX Magazine

Erik Cagle

DealerBriefing Spotlight News

Strength in Numbers, Ideas: Caltronics Business Systems Leverages Flex Technology Group Relationship to Target Unparalleled Growth

L

ike many other dealers in the office technology sector, Dan Reilly has plateaued several times during the course of his 30-plus-year career. When you hit that growth wall, the president of Sacramento, CA-based Caltronics Business Systems has learned that it is necessary to retool and reset your platform before taking aim at the next sales echelon.

A stockbroker fresh out of college who had brief stints with Merrill Lynch and Manufacturers Hanover Trust, Reilly joined Caltronics, the dealership founded by his father, John, in 1975. The elder Reilly, a New York transplant, had developed the company as a steady, but modest, lifestyle business that was registering $2 million in

annual sales by the time Dan Reilly joined the firm in 1986.

The son, however, had a bigger vision in mind.

Reilly made his first acquisition, Modern Office Machines, in 1993, and over the next 20 years he added six more dealers in the $3 million to $6 million range. Each acquisition brought new insight to Reilly, particularly in the area of reconciling growth and creating an infrastructure to support it.

Many of the top execs from the acquired companies joined the fold, and Reilly was emboldened by their wealth of ideas and creativity that have enabled Caltronics (a dedicated Konica Minolta dealer) to successfully assimilate and widen its scope.

The company now covers a swath of the Golden State from

Dan Reilly, Caltronics

Sacramento down to the Los Angeles region, as well as Arizona.

Perhaps Reilly’s boldest stroke came in late 2017, when Caltronics became a part of the Flex Technology Group, backed by Oval Partners of San Francisco. It has set the stage for what Reilly believes will be an unprecedented growth spurt that could top $100 million by the end of 2019, a vast burgeoning from its current $61 million level of annual sales. We sat down with Reilly to discuss how the Flex Technology Group’s wealth of experience and expertise in managed print services will complement his own specializations in production print and solutions to mutually benefit the platform and enable Caltronics to expand its M&A blueprint to dizzying heights.

How is business in 2018?

REILLY: It’s really been great, the economy’s good. We are

Members of the Caltronics team participating in a fundraising event 24

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Strength in Numbers, Ideas: Caltronics Business Systems Leverages Flex Technology Group Relationship to Target Unparalleled Growth with theirs. I really felt the culture he built was very similar to ours, which was important to me. They really take care of their people and care about the customer.

When I looked at the reinvestment, it intrigued me. You’re not just selling and walking away; you have the opportunity to stay engaged and be a part of something that’s going to have enormous value down the road. Everyone’s pulling on the same end of the rope. The valuation of our company in the sale itself was not what was most important.

I’d done my research and knew that it was a fair value for my company.

Honestly, I wasn’t ready to move on and retire. I still have a lot of passion for this business and my company. It’s been a great fit, and the partnership has created a lot of opportunities for my employees going forward, much more than I could’ve given them by staying independent.

It wouldn’t be a holiday party without an ugly Christmas sweater competition at Caltronics

energized by our partnership with the Flex Technology Group. Ours is a traditional copier model and (Flex) is an MPS model. They’ve brought things to the table that we hadn’t enjoyed in the past, like a robust managed print services model. We have many customers who can benefit from their expertise. On the other hand, we provide expertise in areas such as production print, which accounts for about $3 million to $4 million in business per year. We are working together with our partners to bring best practices and new marketing ideas to each other. It’s working out really well.

dedicated their careers to these specific areas, and as a result we execute really well.

What does Caltronics pride itself on?

REILLY: We’ve always felt we are a service company that sells equipment, not an equipment company that will also provide service. To us, it’s all about customer satisfaction, and it is borne out in the long-term relationships that we have with our customers. Another key is that we specialize. We have divisions that specialize in production print, MPS and solutions. Our employees have

REILLY: I knew that in getting involved in a partnership of any kind, there has to be a strong relationship among the people. I felt really good about the Oval Partners group—Jake Mizrahi, John Knoll, Dan Ruhl—smart guys who have been quite successful. We spent time getting to know them and felt comfortable with them on a personal level. I got to know Frank Gaspari and some of our senior executives interacted

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In late 2017, you decided to join the Flex Technology Group collective under Oval Partners. What intrigued you about Oval’s value proposition as opposed to other M&A platforms?

What do you believe Flex Technology Group brings to the table that will enable you to facilitate growth?

REILLY: They do some things well that we either didn’t do at all or do as well.

In some areas, it goes the other way. Our solutions and production print teams are strong, but our managed print services offering is not as robust as Flexprint’s.

It was exciting for us to bring new and better solutions to our customers. The

WE ARE CONSTANTLY LOOKING FOR NEW AND BETTER WAYS TO DO BUSINESS. EVERY DAY WE ASK OURSELVES HOW WE CAN IMPROVE. IT IS A CONSTANT STRUGGLE THAT WE IMPOSE UPON OURSELVES.

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relationship has given us a three- to five-percent bump for 2018, but more importantly, we’ve put a lot of things in motion this year that will set the stage for a breakout year in 2019. Introducing new people and processes doesn’t happen overnight, but we’ve had success and a lot of the groundwork has been laid.

In 2013, you added Infincom of Arizona. Tell us a little about how that deal has broadened your market reach.

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Strength in Numbers, Ideas: Caltronics Business Systems Leverages Flex Technology Group Relationship to Target Unparalleled Growth law firms in our region. Our specialists do a really nice job of understanding the nuances of particular industries.

We’ve also excelled in other verticals including school districts, associations, and local and state government. While we do well selling ink on paper, we also thrive in solutions by helping companies streamline their business processes. It took time to develop expertise in these verticals, but over the years we’ve become highly proficient in addressing their needs.

Shown from left, Dan DeMaria, Greg Elko and Anthony Costa, members of the Caltronics’ President’s Club

REILLY: That was our first entry into Arizona. We are a regional company, a lot of our customers are headquartered in California with branches in Arizona, and so it gave us a footprint in Arizona with a small, but strong, company with good people and a fantastic service department. It’s allowed us to service more of our customers directly as opposed to outsourcing it to a third party.

That was one of the driving factors in acquiring Infincom.

Will you be pursuing other M&A opportunities that will enable Caltronics to expand its scope?

REILLY: Absolutely. We are actively looking to grow Caltronics organically and through acquisition with the total support of Flex Technology Group and Oval Partners. One of the things Flex Technology Group liked about us is that we have an infrastructure capable of growth. It was built with that in mind long before I thought about partnering.

Our platform can expand to $100$150 million in sales without having to rebuild.

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What has enabled Caltronics to establish a stronghold in the California and Arizona markets?

REILLY: Our strength in vertical markets has been a key. We have 20 of the top 25

What do you look for in your employees and how do you recruit and retain good ones?

REILLY: There’s a certain energy level one needs to have in order to be successful in a highly competitive business like ours. One of our interview questions asks prospective employees, “Do you love to win or do you hate to lose? How would you characterize yourself?” They are really two different things. Personally, I expect to win, but I really hate to lose. It’s that kind of competitive nature that we’re trying to find. We have a number of former Division 1 college athletes on our staff.

They have a competitive nature, are disciplined and understand the value of

It’s not Casual Friday; Caltronics family members vie for the title in a Halloween costume contest continued on page 30

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Strength in Numbers, Ideas: Caltronics Business Systems Leverages Flex Technology Group Relationship to Target Unparalleled Growth we need to always keep in mind what has made us a great company for the past 43 years—a focus on customer satisfaction and a commitment to taking care of our employees.

How do you view the industry changing in the future and what are you doing to adapt?

REILLY: Our industry is constantly changing and evolving, and as always, I welcome that. With change comes opportunity for us and our customers. As an industry, we continue to delve deeper into network services, security and electronic document management, just to name a few. Our company has made significant investments in these areas and I feel very optimistic about how those investments position us for future success.

The contracts team seals the deal with a decidedly Disney slant

hard work. But in the same vein, people can demonstrate that same competitive spirit in other ways in their lives. We’re also looking for a strong work ethic. You really need to have the ability and mental toughness to work hard every day and recognize that it’s going to take time to succeed in this business.

Equally as important, a candidate needs to be a cultural fit for Caltronics.

We have a competitive but friendly, family-oriented culture in this company.

We have second- and third-generation employees. So it is important that candidates fit into that mold.

What was your dealership’s biggest win last year?

REILLY: I’d say it is definitely our decision to partner with Flex Technology Group. We are now part of a dynamic, growing company with unmatched excellence in people and programs.

We are so excited about what the future holds for our employees and our customers.

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What was your biggest challenge in the past year?

REILLY: We are constantly looking for new and better ways to do business.

Every day we ask ourselves how we can improve. It is a constant struggle that we impose upon ourselves. It is not just one thing, it permeates everything we do. If at the end of the year we can look back and say we are better today than last year, then we have done our job.

What are your goals for the next 12-18 months?

REILLY: One goal is to continue to grow organically as well as through acquisition. As I stated before, we have the infrastructure in place to accomplish both. Another is to continue to learn new and better ways to help our customers.

That is one of the really exciting things about being part of the Flex Technology Group family. We get to interact and share ideas with the best and brightest minds in our industry. That being said,

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What do you enjoy most about your job?

What are your least-favorite aspects of it?

REILLY: The most enjoyable part of my job is the challenge. Every day presents you with new opportunities to improve. I have been really fortunate to have surrounded myself with highly competent people in all aspects of our business. There is no challenge that we can’t overcome. It is extremely satisfying to accomplish your goals with people you really enjoy working with.

As for my least favorite, I would have to say it is my own impatience. I can get frustrated when I see a solution to a problem or just a better way of doing something and it takes a while to implement. I can see the benefit clearly, so I want to implement it as quickly as possible.

Outside of work, what do you do for fun?

REILLY: My family is everything to me. My wife, Colleen, and I have six children, from a junior in high school to a 28-year-old son who’s in the third year of law school. We are very close and enjoy doing things together. When it’s just the two of us, we like to go to the mountains or the beach, walk our dogs and just hang out together. My personal time is spent working out at the gym or on a bike ride. ♦

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Erik Cagle

Channel Insight

LEAD 2018 Conference the Crowning Jewel to Successful Growth Year for Toshiba The gambling capital of the world was a fitting venue for Toshiba America Business Solutions (TABS) and Toshiba Global Commerce Solutions (TGCS) to host their sixth annual LEAD (Learn, Engage, Act and Deliver) Conference in September, for the venerable manufacturer did not hedge its bets in the least.

W

elcoming upwards of 1,700 guests, primarily dealers and end users, the event served as a perfect backdrop for Toshiba to engage attendees on “Empowering the Art of Business.”

The motto was apropos, for Toshiba rolled out a bevy of new technologies that can act as a canvas for its dealers and end users to not only stretch the bounds of their imagination, but challenge their creativity in finding new solutions to age-old problems. In the process, the OEM introduced dozens of A3 e-STUDIO refreshes, branded A4 offerings and a surprise relationship reveal with Brother International to expand upon its existing partnerships with HP and Lexmark. From digital signage to barcode applications and its Elevate user interface platform, the LEAD Conference gave attendees strong insight into the tools and services that are paving the manufacturer’s path toward 2019 and beyond.

For those who were not fortunate enough to have a front-row seat at the Bellagio Hotel, we took a few minutes to chat with Bill Melo, chief marketing executive, to gain some insight into Toshiba’s various initiatives and its plans to parlay its successes into a prosperous 2019 and beyond.

Tell us about your career path leading up to current position at Toshiba.

MELO: I served for three years as vice president of worldwide marketing for Hitachi Koki Imaging Solutions and nine years in a variety of marketing and business development positions for Ricoh Corporation. I worked for several years in the music industry prior to the job at Ricoh.

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I joined Toshiba in 2002 after working with them on remote monitoring technologies during my tenure at Imaging Portals (now MWA Intelligence). I developed the Encompass application and Managed Print Services practice, and later became vice president of services and solutions in charge of our marketing and operations of our Enterprise business. I began the Toshiba Managed Business Solutions business and acted as its general manager concurrent with my role of vice president of marketing and solutions. Finally, I was named chief marketing executive of Toshiba America Business Solutions in 2014 and assumed the same position for Toshiba Global Commerce Solutions in 2015.

What were you looking to accomplish with the 2018 LEAD conference?

MELO: There are two principle audiences at LEAD: resellers (both independent dealers and direct, Toshiba Business Solutions) and end-user customers. The first day is focused exclusively on resellers. Our goals are to introduce new hardware, solutions and sales enablement tools to our resellers, and to educate current and prospective end users on the benefits of Toshiba document and digital signage solutions. Our approach has always been to listen to customer’s needs, and to deliver products and services that meet those needs in ways that we can deliver effectively and profitably.

What kind of feedback have you received from dealer attendees? Was there anything in particular that they focused upon?

MELO: By all accounts, this was our biggest and most successful LEAD ever.

Dealer reaction has been very positive, especially by those who invited end

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Bill Melo, Toshiba

users to attend. The new Elevate-enabled multifunction printers (MFPs) were the highlight of the show for dealers.

Toshiba’s refresh of 26 new machines comes on the heels of an 8 percent rise in MFP sales. What is enabling your company to gain more market penetration? Also, what does Brother add to the portfolio?

MELO: Toshiba continues to focus on the office printing and light-production markets, and has leveraged the strength of our retail operation to gain major wins with national retailers. We are taking market share from competitors who may not have the deep relationships in retail or are otherwise distracted.

Toshiba has always advocated a brand-agnostic approach to managed print, which has led us to offer both HP and Lexmark A4 MFPs and singlefunction printers to our channel partners.

The Brother Workhorse product line adds a new price/performance point for our resellers.

President and CEO Scott Maccabe talked about Toshiba’s continued success with

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MPS and digital signage. What has enabled the company to become industry leaders in both disciplines?

MELO: We were first to market in the MPS space and have developed a robust tool kit, deep expertise, expert project management and go-to-market strategy (including Toshiba’s e-STUDIO A3 line, brand agnostic A4 sales and service) that continues to resonate with customers.

We’ve done well in digital signage in industries where we’ve had established relationships and an engaged sales channel—retail, hospitality and sports and entertainment venues. MFP resellers need to gain comfort selling a digital signage solution that is not output related at all and not tied to MFP sales.

To date, virtually everything that an office product reseller offers is somehow related to hardcopy documents.

Maccabe also recounted Toshiba’s success in bar code systems with heavy hitters like Home Depot? Is this an area of growth potential for dealers?

MELO: We have a great portfolio of label printers that are a great solution for retailers, as well as distribution,

manufacturing and logistics centers.

Dealers clearly have an opportunity to participate in the sales of Toshiba’s entire portfolio to enterprise accounts.

the new products, including Elevate and our latest MFP line-up. We will be busy educating our resellers on how to best execute.

Toshiba and its dealers are high on the potential of Elevate. Talk about its value as a point of differentiation.

MELO: We know that no two business operate the same way. Each has different requirements for its MFPs—different workflows, connect to different business applications. They have a unique language and brand. The Elevate platform allows resellers to craft a user interface that is uniquely tailored to each customer. The new Elevate Composer is a cloud-based tool that really simplifies this process and makes the power of Elevate available to every end user.

Why buy a commodity when you can have something built just for you? That’s the value proposition.

What changes in the BTA space are influencing your go-to-market strategy, and what influences will play a role in your strategy going forward? What will you look to accomplish in 2019?

MELO: Changes in end user behavior are compelling resellers to deliver value beyond the printed page. We are enabling our resellers to be more solutions focused and capable by offering intuitive solutions like the Elevate UI and the Elevate suite of industry workflow solutions.

Toshiba has ambitious plans to continue growing both in the document imaging and workflow business and digital signage. By the end of this year, we will have launched 26 new MFPs, a host of new solutions, Elevate Composer and several important upgrades to our Encompass platform. The 2019 focus will be about leveraging those assets to increase market share, revenue and profitability. ♦

What can Toshiba do to build upon what it accomplished with this year’s LEAD conference?

MELO: The challenge after any LEAD event is to execute at the field level. Our resellers and end users are excited about

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November 2018 | www.enxmag.com

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Erik Cagle

Leasing & Financing Roundtable

Capital Improvements: From the Economy to Rising Interest Rates, Lessors Chart the Lending Market It would not be surrendering to hyperbole to characterize 2018, at least through the first threequarters of the year, as wildly successful from a selling standpoint across the office technology universe.

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n fact, every dealer spotlight we’ve conducted this calendar year is replete with testimonials that speak to record-breaking sales. Small sample size or not, it would be difficult to find a strong consensus to the contrary.

As a compendium to this month’s state of the industry focus on 21st-century sales, we have assembled a roundtable of key members of the leasing and financing community to discuss the 2018 lending environment, the conditions that have impacted dealers’ and end users’ ability to obtain funding and how changes in the economy and market conditions should impact the landscape in 2019.

Our panel consists of the following representatives of leasing and financing institutions: Rob Parker, senior vice president, Wells Fargo Equipment Finance, Office Technology Group; Michael D’Errico, director, equipment finance, Office Imaging Unit, CIT Group; Robert Hunter, senior vice president, U.S. Sales, DLL Financial Solutions; Jennie Fisher, senior vice president and general manager, Office Equipment Group, GreatAmerica Financial Services; and Nick Capparelli, managing director, LEAF Commercial Capital.

During 2018, what have been some of the primary drivers behind the leasing and financing markets?

PARKER: It is always interesting to take a closer look at the trends in our mature but ever-evolving industry. The most dominant drivers are the move from a low-rate environment and the overall impact of technology advancements and product mix as hardware becomes less prominent.

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With pricing, we see some pressure as rates increase from historically low levels. There are a lot of finance options for dealers today, and everyone has a slightly different strategy. Leasing companies with the strongest focus on delivering long-term support at a competitive rate will likely have better results.

The technology side of the equation is having an impact on a couple of fronts. It not only relates to the average transaction size, but also the mix of equipment, software, and services included in today’s deals. As a result, there is a need for more flexible contracts while still balancing other factors.

An additional driver related to technology is the need to ensure investments help dealer productivity.

Whether it’s integrating with thirdparty products or improving legacy systems, it’s critical to make long-term investments to differentiate the market approach.

D’ERRICO: Given the market penetration today, many dealers are focused on expanding the range of products and services they can offer to new and existing customers. This puts a high premium on knowing your customers well enough to truly understand their needs. If done successfully, it can result in bundling of solutions and services with the hardware.

It also requires that leasing companies be clearly aligned with their dealer’s strategy so they can effectively execute the concept, i.e. clear and effective invoicing.

HUNTER: The growth and migration towards a usage and consumption environment continues to gain traction

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among businesses in the U.S. and across the globe.

What we are experiencing is the “consumerization” of business procurement decisions. We Robert Hunter, DLL lease and use Financial Solutions many products in our consumer lives, and this trend is making its way into B2B purchasing decisions. The only effective way to use or consume a product or service is through a lease or finance agreement that offers flexible payment solutions aligned with usage needs and budget restrictions.

Not to mention the lowering of total cost of ownership (TCO), where leasing eliminates the burden of ownership for the business. Connected technology improves and changes so rapidly that companies are now realizing that the only efficient way to manage technology capital expenditures is to lease or finance the equipment. According to a 2017 IDC survey, over 75 percent of customers expect a financing option when making these decisions and will rule out vendors who do not offer them.

FISHER: Banks continue to be flush with cash and the current lending capacity remains strong in the short term.

Confidence stemming from liquidity in the marketplace, the tax law change and a strong economy with extraordinarily low losses are encouraging finance companies to be much more aggressive in their pricing and credit appetite. The office equipment space has generally performed well, which is one reason banks remain very active in this space.

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Capital Improvements: From the Economy to Rising Interest Rates, Lessors Chart the Lending Market The times we are experiencing are cyclical—we have seen it before and we will see it again. We seem to be at the top of the cycle and dynamics will change.

On the borrowing side, all of the above are fueling capital investments and purchases remain strong.

CAPPARELLI: Obviously, a strong economy and a lot of pentup demand for new equipment and upgrades have played a big role in increased end-user business Nick Capparelli, LEAF Commercial Capital this year, as have federal interest rate increases and talk of increases to come. As you’d expect, dealers are responding with plans to expand, whether by adding locations, staff, inventory, fleet, etc. or through acquisitions. And what we’ve seen is that one of the biggest pain points for these dealers is sourcing capital to support these activities. Some are winding up with a kind of fragmented, patchwork financing/capital solution delivered by various parties that may or may not understand the dealer’s industry, markets and so on. There’s an opportunity here for finance providers who do understand the business to step up and offer an integrated, coordinated source of customer equipment financing, plus capital to support growth plans across the enterprise.

When assessing sourcing options (leasing/ financing specialist, a bank or manufacturer captured unit), what variables should an office equipment dealer take into consideration?

CAPPARELLI: Many finance companies will highlight things like credit acceptance rates, turnaround times, and funding speed, but I think a dealer should expect that from any finance partner. However, a variable that’s often underappreciated is whether a finance partner has sufficient resources to not only handle a dealer’s needs now, but also as they expand their enterprises 36

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and as their needs evolve in this rapidly changing market. I’d look especially for the ability to go beyond equipment financing to offer a true partnership with capital to support other growth plans, such as acquisitions. It’s also important that a financing team has deep knowledge of the industry in order to be an effective resource in helping dealer principals drive long-term sales growth and increased enterprise valuation.

FISHER: Understand how your financing source makes its money. It is easy to get fixated on pricing and the enticement to increase upfront funding with a low (and in today’s market, a “no interest”) rate. However, it is important to remember that no finance company intends to be a “notfor-profit” organization and you do not want them to be. You need to ensure you are partnering with a financially strong and sustainable finance organization who will be around for the long term to service you and your customers.

Finance companies will maintain their overall profitability one way or the other; make sure you understand the fees and expenses that your customer will incur throughout the term of the contract, and what the end of term will look like for both of you. If your finance company gives you a rate that seems too good to be true, take the time to understand how they can afford to do that.

Ensure you feel good about their ethics, integrity and flexibility in their ability to serve you. Do they see you as their primary customer, or your customer as their primary customer? Do they say what they do and do what they say?

Do they have the ability to demonstrate flexibility to deliver “out-of-the-box” solutions for your needs?

Make sure they place high priority on customer care and accessibility. Are they delivering the customer experience that you and your customers deserve? Will they help you keep your customers for life by providing this stellar experience?

Do they know your business and the market you are in? What does their involvement in the office equipment

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industry look like? Do they understand the opportunities and challenges office equipment dealers face today?

Are they building relationships with Jennie Fisher, industry partners GreatAmerica to create synergy Financial Services in bringing integrations and solutions that help dealers continue to successfully grow their organizations?

HUNTER: Office equipment dealers should pay close attention to the experience the lessor has in the dealer channel, the type of products and services the lessor offers to the dealers’ customers and a holistic understanding of end-of-lease options. For example, does the lessor know how to structure managed services contracts that help the dealer realize revenue upfront, while ensuring the customer has a simple, easyto-understand bundled invoice? Finally, the dealer should consider how much investment the lessor makes in products and services that support the dealer and customer experience, like online credit applications, lease management and access to reporting and fleet management tools.

D’ERRICO: Dealers should look to choose financing sources that can meet their short-term objectives and also support their long-term vision. They need to service their customers properly in the present, but also have the financial flexibility to invest in their future, so that they can continue delivering value throughout the life of the customer relationship. An example is FlexAbility, CIT’s invoicing and servicing platform, where we continue to invest in the innovation needed to meet dealer needs now and into the future.

PARKER: This industry has more financing sources than ever, and it can be challenging to assess the different options. Clearly, price is an important

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Capital Improvements: From the Economy to Rising Interest Rates, Lessors Chart the Lending Market consideration, but it’s also critical to evaluate the level of support a dealer will receive throughout the customer life cycle. An important question to ask is whether your financer makes an investment in your relationship that allows you to be more productive in other facets of your business.

Given the slow growth in the market, customer retention is also critical. What tools does your financer provide to help you retain your customers? What about finding new customers? The most comprehensive financial institutions offer dealers dynamic prospecting tools that consolidate information from a large number of sources. For example, at Wells Fargo Equipment Finance, we offer a tool that delivers more accurate and deeper information about prospects to help dealers increase their win-rate. A relationship with a financial institution is not just about funding deals, but also about helping dealers acquire new customers.

What are some of the dealer programs that have proven to be most successful, and what are their key elements?

D’ERRICO: In today’s market, successful dealers are thinking beyond the box. Now they’re also focused on being customer experts who can provide other services and solutions.

Their strategy is to look at how to deliver more value and efficiency; in other words, provide a better overall customer journey. And of course, they can sometimes find the capabilities they need in cooperation with their financing source, like CIT. HUNTER: We have found that programs are most successful when both parties are focused on a long-term relationship and the strategy of the dealer business.

Financing is the “third-leg” of the sales stool, and when properly integrated into the sales cycle, delivers the most flexible experience for the end-user customer.

A strategic program allows the lessor to help the dealer address its business challenges and sales efforts. While competitive rates are a component of an effective 38

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dealer program, the overarching strategic alignment between the lessor and the dealer results in long-term success. This approach has Michael D’Errico, allowed DLL to CIT Group support its dealers in upgrading their portfolios numerous times over the life of the program.

PARKER: The need for information is paramount to driving new business.

Business intelligence is the name of the game. A part of our prospecting tool enables dealers to effortlessly generate real-time prospect data and alerts to help formulate strategies to identify and win new customers. Another important program is flexible end-of-term options to help ensure our dealers retain customers.

CAPPARELLI: The LEAF CapitalAlliance, which encompasses growth capital, fleet financing, geographic expansion, acquisition support and more, is getting a lot of interest. As I mentioned, equipment dealers need an integrated source of financing and capital delivered by a team that understands the industry on more than just a surface level. This gives them a cohesive, coherent source of equipment financing and capital to drive growth.

Ready to expand your service fleet, product lines, or staff? Need growth capital, funding for a new location, or financial resources to help see you through an acquisition? You can do all that with the LEAF CapitalAlliance. And it’s all backed by more than three decades of industry knowledge and expertise.

FISHER: Our finance program for dealers selling information technology (IT) and As-a-Service offerings helps dealers combine hardware, software and installation and services into a single invoice for their customers. Our finance program, Hardware as a Rental (HaaR) is helping dealers ensure recurring revenue and improve their margins. One solution

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provider told us, “Since working with GreatAmerica, our sales margins and cash flow have improved tremendously.”

In general, bundling hardware, services and supplies, whether with the IT component, or more of a print or MPS approach, is an area where GreatAmerica shines. Not only do our finance agreements help our dealers win with invoicing flexibility, we have a very robust back office to handle efficient and effective administration. Our Contract Management Team and the infrastructure to support them helps us successfully bill, remit, post and reconcile more than $20 million a month in pass-through dollars for our dealers.

Additionally, the buzz around seat-based billing (SBB) is building momentum in the marketplace today.

GreatAmerica is the first finance company to create a customized program for SBB, and has joined forces with Print Audit, Clover and BEI to educate dealers on this opportunity by way of nationwide road shows. SBB allows vendors to bill customers a flat monthly fee for their print services, per user. Our total financing solution ensures this new billing model can be billed on a single invoice to protect our dealers’ monthly revenues. Take advantage of our insight into the industry and stay tuned for more developments related to this financing approach.

As we look ahead toward 2019, what market conditions and other factors could impact funds availability and interest rates?

FISHER: The potential for higher interest rates in 2019 remains very strong. The broader market has shown a heavy focus on the fed funds target rate above all else. Earlier in the year, political announcements (via Twitter or regular channels) had a more meaningful impact on interest-rate markets, however it now seems a “wait-and-see” approach is in effect. Looking forward, interest rates appear to align tightly with fed forecasts.

The markets currently anticipate two more rate hikes in 2018 (September and December) and between two and three

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Group, Inc.

rate hikes in 2019. If current forecasts remain, that would suggest an increase of 1-1.5% in the fed funds target rate by the end of 2019.

Funds availability in 2019 looks stable. Banks continue to be flush with cash and the current lending capacity remains strong in the short term. The industry is starting to see increases in delinquency.

As banks start to realize this, liquidity will retract.

PARKER: All signs suggest the economy is healthy, but there’s still a lot of uncertainty. It looks like the slow-butsteady upward rate trend will continue into 2019, which shouldn’t negatively affect liquidity to any great extent. Given what we’ve experienced over the past 10 years, dealers should continue to monitor the environment and be ready to make changes quickly when opportunities or threats emerge.

CAPPARELLI: We’re starting to hear talk of the U.S. economy, which has been overperforming relative to the rest of the world, slowing to a rate comparable

to that seen in Europe. While this could certainly impact the fed’s plans to increase interest rates, the best course of action right now is Rob Parker, to anticipate Wells Fargo Equipment their continued Finance rise. Tariffs and potentially widespread trade wars could also have far-reaching effects. LEAF, as a subsidiary of People’s United Bank, will continue to further strengthen our asset portfolio with quality credits.

HUNTER: The continued convergence of traditional document imaging dealers and additional services and products will have a big impact on the industry. Dealers should be looking for lessors who understand the copier and technology environments due to the aforementioned convergence trend. The migration towards managed services, where bundled assets, maintenance,

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installation and software are combined in one contract will continue to reshape the purchasing landscape for customers and ultimately the dealers.

We are certainly experiencing a rising interest rate environment which affects all dealers and customers alike. So while rates are rising across the board, dealers should continue to evaluate lessors on their channel experience and understanding, investment in products and services and commitment to simple and flexible end-of-lease terms. We are still in a historically low interest rate environment and the continued desire to use equipment rather than own should perpetuate the need for competitive leasing arrangements.

D’ERRICO: I think you’ll continue to see the office imaging industry going “beyond the box” to fuel growth. We’ll see even more selling of solutions and services. Any further increases in interest rates will only boost the emphasis on adding value and improving the customer journey. ♦

November 2018 | www.enxmag.com

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Charles Lamb

Sales Management

Sound 21st Century Sales Strategy Hinges on Marketing R&D, New Ways of Delivering in Future

I

’m sure you’ve heard the comment, “there’s nothing new under the sun.” And although technology continually changes, making new things possible, some believe that sales best practices are timeless and will be around forever.

I was recently on a conference call with a gentleman who spent 45 years of his career in sales. He began to describe his initial sales training process—one filled with discipline, memorization and one-on-one training. He shared stories about the early days of his sales career, when a great friend and mentor taught him the ABCs of professional sales. Although his friend is no longer with us, he was so influenced by that friend and his training, it was easy to hear the emotion in his voice as he described their time together. He began his story sharing extreme detail; he described his training as if it were yesterday.

He actually started reciting some of his old sales lines to me, exactly the way he learned them 45 years ago.

He’s been very successful; he’s a millionaire many times over, and attributes his success to the effort his mentor dedicated to the launch of his career. He could have spent all of his time on our call talking about himself and his achievements, but he spent most of his conversation talking about the planning, research and practice that helped him make his fortune.

Pay it Forward

The one thing that stuck out from his conversation was that he followed his mentor’s example to the “t” and as soon as he reached a comfortable income position, he too, became a mentor. He devoted a serious amount of his time, money and effort to helping others succeed. Today,

this is something you’d pay a lot for from many professionals. He describes, “I would engage them for days at a time and helping younger, up-and-coming professionals find the path to success.”

He talked about levels of income that some of us only dream of and yet his greatest instruction was to invest deeply in others!

It’s fun to see younger sales leaders and even business owners as they mature. If you watch closely, you can see their lights “come on” as they begin to recognize the necessary behavior and processes that create success.

With ADD and ABCD, 300 emails a day and cell phones, who can really plan or practice anything? You can be reached 24/7, anywhere at any time, so who could say they’ve truly mastered time management?

Impossible. With overwhelming competition and having to have a PHD in psychology to understand what your latest prospect just told you, how in the world can one reach success? Times are changing, technology is changing, and so to must your market intelligence and sales processes.

Brick and mortar establishments are dying as the Internet reaches deeper and deeper into your client’s wallet. Don’t think it can affect the copier industry?

I remember when Office Depot first began selling Xerox copiers; it scared the jellybeans out of us. But today you clearly see that there are some people who simply will not buy technology from box stores like that. They’re continued on page 42

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www.enxmag.com | November 2018

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Sound 21st Century Sales Strategy Hinges on Marketing R&D, New Ways of Delivering in Future different types of buyers and you have to consider this in any plan.

With the rise of companies like Amazon, who would argue that the “I want it now” crowd hasn’t created a demand unlike any other? I think you can see how important a short-term/long-term go-tomarket plan has become. Creating a successful sales strategy for the 21st century doesn’t require any new techniques or considerations. It will, however, have to consider an entirely different business velocity, market place and prospect.

Driving the Drive-Through

Here’s an observation that almost anyone would agree with: with the increased demand to have things delivered same day, in two days, etc., one could easily deduct that moving things across the country (the logistics industry) is going to enjoy a massive boom and increase in sales. Wouldn’t it be wise for fast food establishments to include a drive-through window for truckers? Imagine a tall driveup window that would accommodate any 18-wheeler or midsize truck passing through their territory. A drive-through that would not only sell ready-to-eat hot food, but the top 1,000 items truckers buy—anything and everything that would keep them moving down the road.

Can’t you also see grocery stores becoming more like convenience stores with a drive up? Since most of our groceries will be delivered, these stores would benefit you as you drive home and remember items you forgot in your previous delivery. A grocery-ette, so to speak, where the top 10,000 last-minute items are managed and available in a quick-response drive-up store that keeps you in your vehicle and on your way.

And what if, when pulling out of that store, you could pull directly into a car wash that pumps your gas while your car is being washed? This is the type of thinking you’ll need to carry your existing business into the future.

Sales in the 21st century won’t necessarily require new methods and techniques for designing your future as much as it will require that you 42

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implement the age-old practices of creating a sound, thoughtful strategy.

I would even bet that the discipline, memorization and one-on-one training my friend mentioned would be an excellent contribution for any future business model and success.

If you think about it, pondering the future with a serious regard to what can be/will be is not new. From the foundation of time and across the history of our nation, there have always been those who amazingly lined up their ideas and go-to-market strategies ahead of everyone else. But with the dynamics of our U.S. marketplace, you can’t help but place an immense value on having that solid go-to-market strategy. As fast as things are changing, there can be no more flying-by-the-seat-of-your-pants, if-it-feels-good-do-it business models.

In the future, I believe marketing will carry a much-stronger role for those who have relied on gut feeling and salesmanship. The gentleman on my call has the opinion that if you know your prospect and do the necessary research to deliver real benefits and value, you will be a success. I suppose to some degree he is right, but the delivery model will be different. How customers will find you and how long they’ll wait for you to perform your sales magic is drastically changing. The attention span and patience of most prospects is short—and getting shorter.

Charting R&D

World-class marketing includes research and development, and although that notion rolls off of everyone’s tongue pretty easily, it wouldn’t take much of a discovery meeting to find out that most folks reading this article have never participated in a real market-research study. First, if you have executed a real research project, you know that they seldom end. To be successful you have to have a continual research team working around the clock. Great research is not free, so if you’ve never paid for such research (and you’d remember that bill), it probably wasn’t professional research.

www.enxmag.com | November 2018

The research you’ll need for the future has to answer some of the following questions, in no particular order: • How long will MFP sales carry you into the future?

• How long will the other services that you sell today carry you into the future?

• What services (close to your business model) could you add that would serve your market and your company, helping you transition to the future?

• What market trends do you see (in your area of expertise or not) that are leading the way?

• What sales team model will be required to drive growth in the future?

• What financial requirements does your research for the future demand, and what is your ROI for each?

• What does your individual market scream for?

• Which of the possible deliverables could you sell offer the shortest path to success?

As with the truckers and logistics example above, I can’t help but think that as the speed of technology advances, a successful future will be found in helping businesses organize their many systems that handle their data and business intelligence. If you just think across your own business for a moment, you can immediately feel the value of receiving real-time information for making your critical decisions. A company that specializes in those types of business solutions, I believe, will create a niche with a long, healthy future. Those competencies convert to revenue-generating projects and are not attached to a life cycle of some piece of plastic and metal.

As a matter of fact, the more technology changes the greater your company value would become. As long as new technology arrives, and old technology retires, you would be relevant to most marketplaces with companies wanting to update their processes and capabilities.

It’s time to disconnect from a product-driven sales model and attach to a success-based deliverable! ♦

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Fred Carollo

Market Watch

To the Future, and Beyond: Taking Office Equipment Financing into the 21st Century

W

atching old sci-fi movies, you might chuckle as the imagination of the writers comes to life with Denis Stypulkoski self-driving cars, smart appliances creating grocery lists and robots ordering lunch.

Now imagine this: what if you could sell your equipment and services online with instantaneous financing approvals, direct delivery of equipment and funding based on an auto-confirmation of receipt? What if that equipment directly connected to usage hubs that automatically paid the dealer for services, alerted for overages and shut down equipment when there was a lack of payment? Could this become a reality for office-equipment finance in the 21st century?

Further digitalization is unavoidable in any industry. Our online experience as consumers has upped the game for all industries, and B2B transactional services have been feeling the pressure to compete at a higher level. The importance of digitalization is even more critical in a high-volume, fast-paced industry like that of office products. Unlike many other financial transactions, the office-products business isn’t a “one-and-done” transaction—it is an ongoing relationship with multiple touch points between the leasing company and vendor. This includes everything from the initial credit application process to reviewing the funding package and offering end-of-term upgrades. Instantaneous access to this information can make financing a seamless service.

Fortunately, there are more resources than ever to aid financial institutions in the digital-transfor44

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www.enxmag.com | November 2018

mation process. This is not to say that digitalization is a new thing.

Most financing companies have had an online portal to submit applications—and follow the process through to billing and collecting for meter reading—for over a decade. So what has changed?

As a whole, the industry is getting smarter about improving its digital capabilities and implementing new ways to make customer portals even more user-friendly.

At TIAA Bank, we’ve focused on building a portal that’s intuitive, easy to navigate and covers a wide range of business services.

There are many roads a finance company can take to improve its data analytics and define its digital-transformation roadmap. Leveraging existing technology from other online platforms can jump-start improvements to the client experience. For example: • Artificial Intelligence (AI) is the ability of the software to predict user behavior based on past experience, or act intelligently to apply logic to a pattern of processes.

• Application Programming Interfaces (APIs) allow different programs to talk to each other through common language developers used to connect with other applications. This would help link the online platform of a vendor directly with that of a lender. We believe APIs are a significant development in our industry, helping the connectivity between lenders and dealers become even deeper and more efficient.

Industry associations are collecting data that can aid inWe Saw It In ENX Magazine

stitutions in choosing the best path. The Equipment Leasing & Financing Association (ELFA) recently published an article (Hodges, 2018) recommending leasing companies take a number of steps to transform their technology, including implementing smart contracts, finding opportunities to apply AI and thinking ahead about potential ways to use blockchain technology. Digital platforms are now able to include these smart contracts due to industry-wide changes in regulations aiding the adoption of e-documents as an industry standard.

While implementing digitalization for commercial financing is seen as a priority, the shift also comes with some constraints.

According to a recent survey of equipment-leasing and asset-finance companies by The Alta Group (Rizzi, 2018), companies are facing a number of internal roadblocks, and siloed organizations pose a challenge to a full digital solution. In the report, 75 percent of lessors said organizational issues were a constraint in implementing digitalization efforts.

In addition, the report noted that fin-techs and alternative lenders offering a holistic digital platform experience “are not (yet) capturing meaningful market share or creating enough concern for companies to make radical departures from their business models—for many, the fear of losing business has yet to materialize.”

Historically, there have been a number of other challenges, including the potential security risks of greater information flows, as well as the complexity of integrating IT functions. For

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Phone 972-416-3000 • Email sales@ceicopiers.com example, since vendors tend to use a variety of different operating systems, prior technologies made it difficult for a lender to directly connect their platforms to a wide range of vendors. They needed to work with individual IT teams from each vendor, which required a significant investment of time and money that may not have been justified for all organizations.

Current API technologies with secure external gateways address most of these challenges.

Despite the challenges, it’s clear that our industry is moving forward when it comes to

Easy-to-use self-service portal Meter-based billing

adopting new technology. The chief benefit of digitalization in the financing process is the faster and more-reliable assimilation of data. In the office-products industry, the fast-paced, high-flow nature of the business makes it particularly ripe for digital changes that have the power to transform the way we connect with clients.

Fred Carollo is the originations leader for office products and Denis Stypulkoski is senior vice president, CIO, vendor equipment finance at TIAA Bank in Parsippany, New Jersey. ♦

Let’s talk business 1-866-879-8795 or visit TIAABank.com/commercial

Cited:

Hodges, S. (2018, September). 6 Technology Steps to Take Now. Retrieved from: https://www.elfaonline.org/news/magazine/all-issues/issue/article/july-august-september/6-technology-steps-to-take-now Rizzi, J. (2018, August). Digital Transformation: Is the Equipment Finance Industry Falling Behind? Retrieved from: https://www.monitordaily.com/article-posts/digital-transformation-equipment-finance-industry-falling-behind/ TIAA Bank® is a division of TIAA, FSB. Financing is provided by TIAA Commercial Finance, Inc., which is a subsidiary of TIAA, FSB, and not itself a bank or a member FDIC. We Saw It In ENX Magazine

TIAA Bank® is a division of TIAA, FSB. Financing is provided by TIAA Commercial Finance, Inc., which is a subsidiary of TIAA, FSB, and not itself a bank or a member of the FDIC. ©2018 TIAA, FSB. 18VEF6270

November 2018 | www.enxmag.com

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45

Service Management

Ken Edmonds

Secure the Recurring Revenue In our industry, the most-important area for the profitability and survival of the company stems from the recurring revenue in the service department.

When considering the trends in our industry for the future, this topic deserves serious attention.—dealers that fail to secure the revenue stream properly are most at risk for failure.

What Does it Mean

When we are talking about securing the revenue stream, we are talking about creating a binding support agreement for the duration of the equipment lease.

I know some dealers do not like to build the service into the lease, but failing to do so diminishes the value of the dealership and does not provide any future security for the company.

I am not suggesting pre-funding the service component of the lease, and most leasing companies no longer offer that as an option. When valuing your dealership, a pre-funded service contract is viewed as a liability rather than as an asset.

Building Value

When you build your service contract into the lease, that recurring revenue positively impacts the value of your business to a bank or a prospective purchaser.

Tying the service contract to the lease means that you can show the full value of the contract as future revenue. With a standard service agreement, you can only show the value of the time remaining until contract renewal.

The chart below shows the impact the two methods have on the potential value of the company. In this example, we’re going to assume that the equipment under contract is spread out evenly over a five-year lease. For the sake of easy math, we are going base the numbers on 6,000 machines with placements over the five-year period. We are also going to use $200 per month as the service revenue.

For annual renewals, we would have 6,000 machines with one month, 5,500

machines with two months, 5,000 machines with three months, etc. left on the contract. Based on the $200 per machine per month, the total contracted revenue would be $7,800,000 in future revenue.

(See chart at the bottom.)

For the same client base of 6,000 machines, with the contract built into the lease, the value of future revenue would be $36,600,000. We compute the value by replacing 100 machines per month for 60 months, so basing the current month on 6,000 machines, the following month 5,900 machines and so on through the 60th month only having 100 machines.

The data is in the chart above.

Controlling the Customer

In addition to the valuation benefit, you also gain control over the client.

Building the service contract into the lease makes the client liable for the entire contract, whether they keep the equipment or not. This process allows dealers to reduce the frequency of client upgrades and frees up the sales team to spend more time on growing the business rather than trying to upgrade equipment every 24 months.

If another vendor tries to upgrade your account, they would have to include the remaining service in the cost of the upgrade. Using the same assumptions as the previous example, if a competitor wanted to upgrade the client at 30 months into the lease, they would have to include an extra 6,000 dollars in cost to

cover the remaining service. In most cases, this would make the transaction too expensive for the client, and your base remains secure.

The leasing company normally has a clause that allows the dealer to waive the remaining service. This allows the dealer to upgrade equipment as desired with a strong competitive advantage over other vendors. Extending the replacement cycle will typically also increase the service department profitability, since the department benefits from the escalation clause in the contract.

Always escalate

Too often dealers will write contracts with no escalation clauses. Lack of contract escalation is dangerous since a dealer’s costs will always go up during the lifespan of the contract. If the contract was originally mildly profitable, by the end of a five-year agreement, the dealer is most likely losing money on every page produced.

If the contract allows for an escalation, the dealer can always decide to reduce or even eliminate the escalation if the situation warrants. If there is not an escalation clause in the contract, then the dealer may be stuck with a contract that is losing ever larger amounts.

As an example of the benefit of proper contract escalation, look at the chart below. This analysis is based on a monochrome rate of .004 and on a single machine making 60K per month.

continued on page 48 46

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Secure the Recurring Revenue 1st year Base contract 10% escalation

2nd Year

3rd year

0.004

0.0044

0.0004

0.00044

20% escalation

4th year

5th year

0.00484

0.005808

0.000968

0.0011616

0.0069696

Without escalation 60K per month

240

264

290.4

348.48

418.176

$14,400.00 With escalation

Annual revenue

2880

Over the course of the contract, there is a 30% difference in the revenue—over $4,300 on a single machine. If you have 1,000 units in the field like that, it is more than 4.3 million dollars. Can you afford to give up that much profit?

You will notice in the example I provided, the percentage of escalation changed the last two years. Increasing the escalation rate gives the sales rep the ability to discount the service when upgrading the equipment, while still maintaining acceptable service rates for the service department.

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3168

3484.8

How to Secure it

4181.76

One effective way to accomplish this is to quote a single payment that includes the equipment cost and the service cost for the estimated usage, and then an overage for copies more than the monthly allowance. Quoting a single rate also has the advantage of hiding the exact allocation of revenue from the competition.

Some dealers quote using a fairly high monthly allowance and then bill overage at a very-low rate. In many cases, when the customer is comparing quotes, they

www.enxmag.com | November 2018

5018.112

$18,732.67

may believe that the overage is the rate they are paying for every copy.

Secure the Revenue, Secure Your Future

Securing and escalating the recurring revenue is one of the most important steps you can take to safeguard your company. Building the service revenue into the lease builds the asset value of your company, allows the sales team more time to grow your business and maximizes the profitability of your business. ♦

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Britt Horvat

Technical Tip News Briefing

Xerox WorkCentre 5945/5955 & B8090 Families of MFP Copiers: Introduction Part 2 WC-5945, WC-5955, AltaLink B8090, B8075, B8065, B8055, B8045

The WorkCentre 5945 & 5955 MFP copiers are starting to show up on the secondary markets as more of them come off lease agreements. At the same time, the new AltaLink B8090 family continues to roll off the production line.

A

few months back, we had a look at some of the basics of how to use the diagnostics and how-to backup and restore the NVM (non-volatile memory). Now let’s focus on the fault code meaning, particularly those which need to be reset from the NVM read/write memory settings.

Compiling the fault code list made it clear that the engineers of this series have decided to simplify things somewhat for customers and technicians—it’s a really good sign. For years now, each new wave of machines seemed to have more and more possible fault codes to contend with, and most of them didn’t lead to any useful troubleshooting in the service manuals. More codes did not turn out to be more helpful, they were simply confusing overkill. This machine’s list is a lot shorter than the C123 style machines, and that’s an improvement worth applauding.

Here is the abbreviated list:

FAULT CODE MEANINGS: Fault Code: 301-300 301-305 302-xxx

Meaning: Front door interlock open Left door open User interface problems (UI/control panel problems) 303-xxx Software and main board communication problems 305-xxx Document feeder problems (SPDH = single pass document handler) 305-300 Document feeder open 305-305 Document top cover open 310-xxx Fuser problems 310-153 / 154 Fuser jam—lead edge late to the fuser exit sensor 310-154 Fuser jam—trail edge late leaving the fuser exit sensor

310-170 / 171 Post fuser horizontal transport jams / 172 *310-320 / Fuser heat control problems (*Must 330 / 340 be reset from NVM read/write; read below for details) 310-388 Horizontal transport interlock opened during a copy run 310-399 / Fuser CRUM chip problems (make sure the fuser module or fuser CRUM 310-400 is for the correct voltage model: 5945/5955/B8045/B8055 110v = 109R00847 5945/5955/B8045/B8055 220v = 109R00848 B8065/B8075/B8090 110v =109R00850 B8065/B8075/B8090 220v =109R00849 If the fuser is the for the correct model and voltage, try replacing the fuser CRUM chip 312-xxx-00Finisher problems (2K LCSS version 110 of finisher) 312-xxx-00Finisher problems (LVF version of 150 finisher) 316-xxx Network problems 319-xxx Image processing/memory faults 320-xxx Fax problems 322-xxx Communication and system errors 341-301 CRUMs bus communications 361-100 LED print head data integrity failure 362-xxx Scanner problems 362-310 Scanner to SBC (single board controller) communication failure 362-357 / Scanner cooling fan errors 362-960 362-399 Scanner to SPDH (doc feeder) failure 362-450 to Scanner calibration failures 362-472 362-476 Scan carriage home sensor problem 362-485 +12v low voltage power error 362-486 +24v low voltage power error 371-100 / Tray 1 lift failure 371-217 371-500 Tray 1 opened during a copy run (note that tray 1 is seen as being “open” when none of the tray size sensors are actuated) 372-100 / Tray 2 lift failure 372-217

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372-500 373-100 / 373-217 373-500 374-100 / 374-217 374-500 381-106

Tray 2 opened during a copy run Tray 3 lift failure Tray 3 opened during a copy run Tray 4 lift failure

Tray 4 opened during a copy run Paper jam—lead edge late to tray 1 takeaway roll sensor 381-126 Paper jam—lead edge late to tray 2 takeaway roll sensor 381-136 Paper jam—lead edge late to tray 3 takeaway roll sensor 381-146 Paper jam—lead edge late to tray 4 feed sensor 381-151 Paper jam—lead edge late to registration Sensor in simplex mode 381-152 Paper jam—trail edge late leaving registration sensor 381-155 Paper jam—lead edge late to registration sensor (when feeding from bypass tray) 381-159 Paper jam—lead edge late to high capacity feeder (HCF) Exit Sensor 381-161 Paper jam—lead edge late to registration sensor in duplex mode 381-162 Paper jam—trail edge late leaving registration sensor in duplex mode 381-167 Paper jam—lead edge late to tray 4 exit sensor 381-190 / 191 Paper jam—lead edge late to registration sensor / 192 / 193 from tray 1/tray 2/tray 3/tray 4 381-194 / 195 Paper jam—lead edge late to takeaway roll 1 sensor / 196 from tray 2/tray 3/tray 4 381-197 / 198 Paper jam—lead edge late to takeaway roll 2 sensor from tray 3/tray 4 381-199 Paper jam—lead edge late to HCF exit sensor from tray 4 381-200 Paper jam—unexpected sheet at registration sensor 383-155 Paper jam—lead edge late to duplex sensor 383-157 Paper jam—trail edge late leaving duplex sensor 391-377 Print cartridge cooling failure 392-399 Incompatible print cartridge (wrong version of drum cartridge detected)

November 2018 | www.enxmag.com

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The state-of-the-art technology center is operational; the toner manufacturing at CET Japan has commenced and global distribution centers are ready. CET is foreseeing and delivering future possibilities for you.

CETGroupco.com

Xerox WorkCentre 5945/5955 & B8090 Families of MFP Copiers: Introduction Part 2 392-400 *393-360 to 393-364 393-390 393-399 399-401 395-xxx

Print cartridge CRUM communication error *Toner concentration sensor failures; *You must reset this fault from diagnostics (NVM read/write)* Toner cartridge empty (machine senses no more toner is being dispensed) Incompatible toner cartridge (wrong version of toner cartridge CRUM chip detected) Toner cartridge not detected (toner CRUM not seen in two toner cartridge revolutions) Software upgrade failures

Clearing some fault codes:

Fuser faults (310-320, 310-330, & 310340) and toner concentration faults (393-360 to 393-364) need to be reset from NVM read/ write (non-volatile memory) in diagnostics as described below: 1. First enter diagnostic mode: o Hold down “0” button for seven seconds o While still holding “0,” press “Start,” then release both buttons. (Note that for the new B8090 family you would instead hold the “Home” button for 10 seconds and then release) 50

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www.enxmag.com | November 2018

2. The machine will prompt you for a passcode. Enter the default code “6789” and touch “Enter.”

3. Next go to NVM read/write: o Choose the “Adjustments” Tab and touch the “dC131 NVM read/write” button. o The NVM code to reset is “501-359” system lockout fault.

4. Enter the system lockout fault NVM code: o Enter the first 3 digits (this is the NVM ID, in this case “501”), followed by the second set of digits (this is the NVM Index, n this case “359”).

5. Enter a “0” under the heading “Value of 501-359” and select “Write,” followed by “Close.”

6. Finally exit diagnostics & reboot: o Choose “Call Closeout” and “Exit and Reboot.”

Voila!—the fault is re-set. And assuming you fixed whatever triggered the fault in the first place, the machine will come to ready again. ♦ We Saw It In ENX Magazine

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Printer Tech Tip HP LaserJet Enterprise M607-M608-M609 and HP LaserJet Managed E60055E60065-E60075: “13.B2.D2” or “Tray Overfill” Error When Printing from Tray Two Issue The error message “13.B2.D2” or “Tray overfill” displays frequently on the control panel when printing from Tray 2.

Recommended action See if any of these steps resolve the jam issue: 1. Check if the pickup rollers are installed correctly as shown.

If the white arm is pushed in, the roller bracket should drop down.

Figure: Paper sensor flag shown in correct position: rear side of tray cavity, right side. If the white arm is pushed in, the flag should drop down for correct operation.

2. Check if the pickup rollers are worn out.

3. If the pickup rollers are uneven or have increased wear, replace the pickup and separation rollers using the Tray 2-X rollers kit (includes separation and pick up rollers), part number J8J70-67904.

4. Check that the printer displays “tray 2 empty” when the tray is empty.

If the paper sensor flag is missing, damaged or dislodged, replace the paper pickup assembly RM2-6771. ♦

This Printer Tech Tip is contributed by LaserPros (www.laserpros.com).

Email any questions to marketing@laserpros.com

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NOVEMBER 2018

Display Advertisers Index National Copy Cartridge........ 23 Phone: 1-619-562-6995 www.nationalcopycartridge.com

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Ninestar Technology Co., LTD........................................... 56 Phone: 1-800-817-0688 www.ninestartechonline.com

Supplies Network.................... 17 Phone: 1-800-729-9300 www.SuppliesNetwork.com Supplies Wholesalers......... 58-59 Phone:1-866-817-8795 www.SuppliesWholesalers.com TIAA Bank............................... 45

ITC Supplies............................ 43 Phone: 1-877-933-5558 www.itcsupplies.com

NuWorld Business Systems............................... 10-14 Phone: 1-800-729-8320 Fax: 1-800-829-0292 www.nuworldinc.com

Mars International.................. 37 Phone: 1-973-777-5886 Fax: 1-973-777-5889 www.marsintl.com

OES-Solutions......................... 19 Phone: 1-877-637-1240 www.oes-solutions.com store.oes-solutions.com

Mps&IT................................... 33 Phone: 1-888-823-0006 www.MPSandIT.com/fusion

Pinnacle Sales, Inc................... 27 Phone: 1-440-734-9195 www.psi-ohio.com

Nation-Wide Repair Service...................................... 48 Customer Service:1-866-655-8676 Technical Support: 1-800-798-1814 www.nwrsinc.com www.fusionimagetech.com

Ross International................... 37 Phone: 1-973-365-9900 Phone: 1-800-240-ROSS Fax: 1-973-473-8800 www.ross-international.com

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Phone: 1-866-879-8795 TIAABank.com/commercial TonerCycle-InkCycle.............. 29 Phone: 1-877-894-8387 www.inkcycle.com Toshiba..................................... 60 Contact National Distributors ACM Technology 1-800-722-7745 Collins Distributing 1-800-727-0884 IDS 1-888-372-3700 Supplies Network 1-800-729-9300 Visual Edge Technology............ 5 www.visualedge.com

November 2018 | www.enxmag.com

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