Xerox Reinvents Amidst Major Layoffs: 3,000 Jobs Cut as the Era of the Copier Nears Its End

Xerox. 

That name used to mean something. It meant every office you walked into had the same reliable, slightly greasy machine in the corner—the hum of paper moving through rollers, toner dust filling the air, and the glow of fluorescent lights casting shadows over a maze of cubicles. For a long time, the copier was as much a fixture as the water cooler, the breakroom coffee pot, or the company fridge with someone's yogurt. But times change, and so do the tools we rely on. Now, Xerox is shedding nearly 3,000 jobs—about 15% of its workforce—as it leans into a future that has little room for the copier’s slow, mechanical heart.

Success in Office Technology - The Imaging Channel

Here we go.

The world is changing, as it always has, this time, 

"As businesses navigate the ever-evolving landscape of office technology, dealers are finding themselves at the forefront of a changing paradigm. The traditional model of providing print hardware solutions faces unprecedented challenges marked by a shift to hybrid work, flat to declining print volumes, the rise of artificial intelligence in the workplace, and mounting pressure to embrace sustainability. 

 However, within these challenges lies a silver lining for a new and promising beginning."

Read more, here., here.

The Future: The Reinvention of Managed Print Services 🖨️

Exploring the Evolution from Device Management to Digital Integration in the World of MPS

The evolution of Managed Print Services (MPS) is marked by a fascinating journey from simple device management to a comprehensive approach encompassing document lifecycle, digital transformation, and advanced technological integration. Initially focused on device output, MPS has shifted towards holistic document management and embracing the digital era, influenced significantly by the advent of hybrid office environments and cloud-based collaborations​​.

Greg Walters, a notable voice in MPS, highlights the enduring philosophy of service-based device management, while acknowledging the transformative impact of digitalization and the shift in device locations due to hybrid workplaces​​. Eric Crump, another industry expert, emphasizes the expansion of MPS to incorporate elements like security and hybrid working solutions, responding to global economic uncertainties​​.

Xerox is The Death of The Copier: Unleashed 🐦🔥

The Third Day

📈 Breaking News: Xerox's Latest Earnings Report 📈

Before we dive into the transformative journeys of Xerox and IBM, it's worth noting the latest earnings report from Xerox. The company recently swung to a third-quarter profit, with a net income of $49 million—a significant turnaround from last year's loss. This positive financial performance adds another layer to the story of Xerox's ongoing transformation. 

Now, let's get into the article.

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The 'Death of the Copier'—a phrase that conjures images of obsolescence, but let's set the record straight. 

When I say 'Death of the Copier,' I'm talking about the ultimate rebirth of beliefs, norms, status quo, and in this case, Xerox. 

Xerox has metamorphosed from a company synonymous with photocopying to a digital force offering augmented reality, AI-driven services, and so much more. This isn't just survival; it's enlightenment.

But will it last?  Is Xerox set to survive or thrive?  Are we watching an elephant dance?

Artificial Intelligence And Your Dealership: The Next Managed Print Services?

Did you know that back in 2009, the term 'managed print services' was met with outright disdain? Dealers and OEMs would exclaim, 'Shrink the fleet to reduce costs? That's heresy in a world built on selling copiers!' Fast forward to today, and we're on the cusp of another paradigm and the most significant shift—this time, powered by Artificial Intelligence.

As Andrew Ng, co-founder of Google Brain and a leading voice in AI, puts it, 'AI is the new electricity.' Just as electricity transformed numerous industries over a century ago, AI is poised to do the same today. 

So, is AI merely the new MpS, or is it something far more transformative?

• Mckinsey: $4.4T of value added world-wide annually
• 80% of all jobs are subject to being enhanced by Generative AI
• In just the last year, a staggering 400 AI start-ups have emerged, gobbling up an eye-watering $24.6 billion in investment. Source: Visual Capitalist

__________

For the last six months, I've been using Artificial Intelligence (AI)in the form of a Large Language Model (LLM) every single day - cutting edge.  More like bleeding edge.

Why aren't you using AI? Today?

Do You Know Jake, the Managed Print Services Selling Professional on the West Coast?

Jake's Odyssey: From Midwest Dreams to Silicon Valley's Vanguard of Managed Services

Jake's journey began in the heartland of America, amidst the golden fields of the Midwest. There, life was simple, and dreams were often tethered to the horizon one could see. But Jake had always felt the pull of something greater, something beyond those fields. So, with a heart full of dreams and a suitcase packed with ambition, he moved to California, the land of innovation and opportunity.

In Silicon Valley, Jake's first foray into the professional world was as a copier sales representative. The copiers, once symbols of innovation, now felt like relics of a fading era. But as the digital age surged, Jake felt adrift, yearning for a new direction.

One transformative evening, Jake chanced upon an article on thedeathofthecopier.com. It wasn't a lament for the past but a beacon to the future, emphasizing the power of Managed Print Services (MPS) and the art of storytelling in sales.

But it was an article from The Imaging Channel that truly resonated with him. It spoke directly to the newbies in copier sales, like Jake, highlighting the potential future in the industry. The article emphasized that while many stumble into the copier industry almost accidentally, it offers invaluable lessons that are universally applicable. It underscored the importance of commitment, curiosity, setting realistic quotas, and above all, authenticity.

🏢OTT This Week: HP, Lexmark, and the Future of Hybrid Workspaces🖨️

"Is your job a friend or a foe?" That's the existential question HP's Work Relationship Index has us pondering this week. 

The Office Tech Tap's latest edition dives into the complex relationship between knowledge workers and their jobs, revealing that a staggering 73% of us are in a 'complicated relationship' with our work. But that's just the tip of the iceberg. 

From a labyrinthine lawsuit involving Lexmark and, oddly enough, a yogurt brand, to the future of hybrid workspaces, this issue is a smorgasbord of the latest trends and debates in office technology. 

Don't miss out on the conversation—subscribe to the Office Tech Tap newsletter today and stay ahead of the curve.

Mandates Aren't Working: Who Needs a Copier?

Remote Work, 2010

Ah, the good ol' days when the hum of the office copier was a constant, and the line for the machine was a daily ritual. But as we've seen in recent times, the office landscape is changing, and with it, the demand for office technology like copiers.

The recent data paints a clear picture: post-Labor Day, we saw a slight uptick in office attendance, but it's still a far cry from the bustling offices of 2019. Despite the efforts of big-name companies like Meta Platforms to enforce stricter return-to-office rules, the national return rate remains stubbornly low. And let's face it, if employees are working from home, who needs a copier?

MyQ: The Vanguard of Modern Print Management

Press 'Ctrl+P' for Progress: MyQ is Your Shortcut to Smarter Print Management

In a digital-first world, it's easy to forget the importance of reliable, efficient printing. But let's be real: the need for hard copies isn't disappearing anytime soon. That's where MyQ comes in, revolutionizing the way we think about print management by making it smarter, more secure, and eco-friendly.

DOTC Impressions of Xerox Q2 2023 Results: Growth; Upbeat Outlook for the Year

Any improvement is a good thing - as long as the vehicle includes servicing the New Way of Work and is on a path to a world without paper.

Highlights of the Earnings Call:

1. Xerox showed resilience in Q2 2023, with equipment sales revenue increasing by 14.8% year-over-year to $420 million due to stable demand and improved product availability.
2. Xerox anticipates an increase in adjusted operating income margin from a range of 5.0% to 5.5% to a range of 5.5% to 6.0% in 2023, reflecting operational efficiencies and a favorable revenue mix. Free cash flow is also expected to increase from at least $500 million to $600 million.
3. Xerox completed the donation of its Palo Alto Research Center (PARC) to Stanford Research Institute International (SRI), focusing more on its core businesses. The move resulted in a net pre-tax charge of $132 million, offset by a net income tax benefit of $40 million, resulting in a net after-tax loss on the donation of $92 million.

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Resisting the Return: Executives Ditch the Copier for the Comfort of Remote Work

Executives to Corporate: You Can Take Our Office, But You Can't Take Our Pajamas

Executive Bullet Points:

1. Top-tier executives are leading the resistance to the five-day office week, with many willing to trade more than 20% of their compensation for the flexibility of remote work.
2. Despite the push for a return to the office, data shows that office attendance is still below pre-pandemic levels, with employees spending less time in the office than before.
3. Companies are exploring creative solutions to encourage in-person work, including relocating offices to more enticing locations and offering flexible work-from-anywhere policies.

Greg's Words

The battle goes back and forth - but the lines are beginning to solidify.  Employees want to work from anywhere - as the fear of Covid revealed.

But today it seems even the C-Suite sees the value of working from anywhere(#WFA).  No surprises there, but what is remarkable is that the #WFA movement has forces aligned with the most demographic.

Who still resists?  Commercial property management companies, commercial real estate organizations, firms heavily invested in commercial real estate(banks), peripheral businesses,(coffee shops, taxis, tow trucks, food trucks), and mayors(no tax base).

In the end, it just doesn't matter.  The #WFA movement would prevail on lessons learned during the Covid fear alone - but there is more.  Enter artificial intelligence.  Today, AI is allowing two employees to do the work of ten.  AI can be accessed from any connected point on the planet.

The office-work environment has dissolved.

How is the alignment between executive and employee going to impact the resistance to #WFA?

__________

Navigating the maelstrom of modern work – one coffee break at a time

The year is 2023 and we're in the throes of a work revolution. Forget the Spanish Inquisition - nobody expects the Coffee Break Inquisition. According to Slack's State of Work report, we're in a massive fight over the soul of productivity, and it seems the battleground is your coffee break.

"....where does that leave the copier industry? The question isn't new, but the answer must be: How do we adapt to the new way of work, advise clients accordingly, and create sustainable revenue models that aren't entirely dependent on copiers?"

Who'd have thought that little office respite would become the symbol of a deeper conflict over the meaning of productivity? Forget buzzwords. We're staring down the barrel of a "productivity paradox". Here's the rub: many workers are associating "productivity" with backbreaking workloads and stress. It's all about proving you're working hard, not smart.

💻 Selling MPS | The Hybrid Office | American Business | Hack On, AI💻

From Paper Jams to Power Moves: Unleashing the Magic of Managed Print Services

Managed print services (MPS) is alive and well. Actually, unbelievably well. We’ve talked about this before, and the wave continues. While dealers and manufacturers report a reduction in page volumes, an increase in MPS contracts highlights an area that dealers should be leaning into.

Despite its limited name, MPS is about more than just print. It isn’t just about cartridges or even cyber security, but it IS about supplies, purchasing, keeping data under lock and key, and even leasing. What’s more, with the move back to an office, cost reductions and increasing efficiencies hold a more prominent position.

"Attendence Effects a Percentage of Your Grade.": Google Treat Employees Like Third Graders

Behind the Curtain: The Real Reasons Companies Want You Back in the Office

Greg's Words

Why are large corporations mandating a return to the office?  Real Estate investment(ROI) and a survival instinct. 

If  #WFH worked during the fear of Covid, why not now? Control? Rationalization? Relevancy? When there are no employees in an office, why do we need managers? And without managers, why do we need a C-Level? 

Now throw in AI. 

AI allows two people to do the work of 10 -programmers, writers, etc. - Why office space for programmers, Marketing, H/R, Chief People Office, or general administration?

"The Things We Think And Do Not Say." Selling Copiers & Technology.

As management urges for higher productivity, AI and automation emerge as key allies in the modern workspace.

For decades, we in the copier industry have been telling prospects our hardware "increases productivity and reduces costs". 

We lied. 

Well, we defined the narrative to fit our mission of selling 10 copiers a month. (or whatever) 

The world is increasing productivity and reducing costs through more efficient workflows - and if you are simply selling copiers, printers, or MpS, they are doing it without you and viewing your relationship as a target for cost reduction. 

AI eats workflows 24/7 and will decimate everything from middle management to the C-Suite.

________

Revolutionizing Copier Service : Harnessing AI Chatbots and AR for Enhanced Customer Experience

Empowering Copier Service, Document Management, and User Support with AI Chatbots

Greg's Words

If Wendy's can train a Chatbot to take drive-through orders, why can't copier OEMs train bots to handle Tier 1,2, and maybe 3-level customer support calls? 

Taking orders, interpreting multiple dialects, accents, and jargon securing correct orders has got to be as challenging as telling an end user how to install a toner cartridge, right?

The notion is far from original as Xerox has been on this path for a few years now(if not longer).  Indeed our little niche may be a laggard on this front as many other service-centric industries are not only exploring but implementing remote, augmented reality, and AI-supported field service teams.

If one of our dealers could build a remote service system, utilizing remote diagnostics, augmented reality lenses, and artificial intelligence, they would be able to sell the solution to service companies all over the world.

Another pipedream, keep selling those toner cartridges.

We grabbed three articles and put them through the AI in the Sky to produce a simple piece outlining the opportunity and current status of AI Chatbots enhancing customer experiences.

Enjoy!

The Silent Exodus: How Quiet Quitting Is Reshaping the Business World and Office Technology(2% Raise)

 They Came, They Saw, They Quietly Quit

Greg's Words

Do what your job description says to do.  There should be no shame in working within those parameters.

Let's put it this way, when you're responsible, through the job description, to complete X number of tasks or deliver Y amount of revenue, or produce Z quantities of corporate events, and you achieve these goals within a determined time frame, you are entitled to a pat on the back, raise, bonus or whatever is stated in your employee agreement.  

Fulfilling your part of the Employee Agreement is NOT QUIET QUITTING.  When you do what the job entails and no more, you are not lazy.

Yet this is what the established structures, have labeled the activity of completing your job according to specification and doing no more.

Doing "what's best for the company" was a belief that when you do, the company would take care of you via salary or promotion, etc. It is a lie finally recognized.

"Team Players do whatever it takes..." This is true when the team members have a clear, identified, common goal that when accomplished, benefits both the team and the individuals.  Furthermore, each team member knows their place in the overall strategy and although one member may be asked to perform above and beyond, in general, the roles do not change, and are not exchangeable.

I guess the biggest thing here is finally understanding that the 'social contract' between employee and employer is finally in the light of day.

Regardless, here is a researched article we put together for you...

Enjoy!

g

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The Unintended Consequences of Remote Work: A Tectonic Shift in Office Technology and Urban Landscapes

Remote working - the love child of technological advancements and pajamas.

Greg's Words

The times are crazy and there seem to be no boundaries; we've left hyperbole in the rearview.  I've seen a few revolutions in my time, so there are familiar threads, flavors, and hints but nothing has been so accelerated and universally impactful as the current run on artificial intelligence.  AI has been brought down, landing squarely on our frontal lobes.

Like never before in time.  The Wheel. The Discovery of Fire.  The first tool.

People smarter than me are using the same words and phrases I am - this is the Big One.

Of course, all is not roses and bubble gum on the road to digital enlightenment.  There are risks; Mary Shelly's Modern Prometheus and the story of Colossus come to mind.  Some see AI as destroying mankind, ridding the planet of its cancerous inhabitants. My thoughts on this?  If were to happen, it would have by now.

But how is The Convergence going to help you sell more widgets?

"I don't know, I'm making this up as I go..."

What I do know, is the fear of covid changed the way we work(and print) the way we move information, and the way we finally see management.  Management is redundant.

Are you thinking about upgrading the office technology?

What's Ahead for the Office Sector in 2023

The office sector has undergone significant changes due to the pandemic and the shift towards hybrid work models. Employers are now facing challenges in increasing office utilization and attendance, and are focusing on change management to shift employee behavior. The surplus of vacant inventory in the commercial real estate sector will result in smaller, upgraded offices being in demand in 2023, but with a lower average demand for office space per employee.

The AI Revolution: How Generative AI Transforms B2B Sales and Office Technology

 

As artificial intelligence evolves, businesses are leveraging powerful generative AI tools to revolutionize B2B sales, creative work, and office technology

Revolutionizing Sales: Greg's Word

The AI landscape is expanding rapidly, with countless applications and a deluge of information flooding the digital sphere by the minute.

In this ever-evolving context, I've decided to contribute my perspective.

The sales industry has been experiencing significant transformation over the past few decades, as the balance of power shifts from supply to demand. Today's prospects are more informed than ever, sometimes even possessing greater knowledge about your offerings than you do.

This is the dawn of a new era, where the internet has granted unparalleled access to information that was once exclusive to sales professionals. No longer.

The meteoric rise and widespread adoption of AI, AGI, and ChatGPT have brought forth an era of unprecedented challenges and unparalleled opportunities. In this rapidly changing landscape, there are no experts.

Sales, as a discipline, has evolved into a realm of professional engagement. AI is revolutionizing the field, weeding out mediocrity and elevating the best to even greater heights.

The myriad of sources and opinions on selling in this brave new world can be overwhelming, rendering the task of covering even a small fraction seemingly futile.

Nevertheless, we persevere.