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BB&T Corporation (NYSE: BBT) has awarded an exclusive, five-year managed print services contract to Lexmark International, Inc. (NYSE: LXK).
"Lexmark is providing BB&T with an output solution that will significantly reduce costs, while scaling as the company expands and grows," said Marty Canning, Lexmark vice president and president of its Printing Solutions and Services Division. "With Lexmark's managed print services solution across its business, BB&T will have a holistic, streamlined approach that will pay dividends for its employees, customers, the environment and BB&T's bottom line."
Lexmark was evaluated and selected in a strategic sourcing event from among many other printing and imaging providers. As part of the agreement, Lexmark will standardize and optimize the number and type of output devices throughout BB&T's 1,800+ retail branches and at its headquarters in Winston-Salem, N.C. Lexmark expects to reduce the total number of devices at BB&T from 30,000 competitive devices to approximately 10,000 new Lexmark laser printers and multifunction products (MFPs) in support of the company's cost savings and business initiatives.
"Lexmark's extensive managed print services capabilities and experience became clear to BB&T during this print optimization project," said Ken Hernandez of Enterprise Spend Management at BB&T. "We selected Lexmark because of the company's thought leadership and the clear experience they have to drive this type of initiative successfully. Lexmark's strong technology offering and competitive pricing make them the right choice for BB&T."
Lexmark will monitor, manage and maintain BB&T's output devices and provide proactive services to ensure toner and other supplies are replenished when needed, eliminating the need to store inventory of these items. In addition, Lexmark will provide ongoing value by automating and streamlining paper-based processes to help BB&T further reduce costs.
Lexmark will also install its Print Release solution, which will enable BB&T employees to authenticate before documents can be printed, faxed, scanned or copied. This approach will improve document security and reduce the number of pages printed annually, thereby further reducing BB&T's costs.
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ABOUT BB&T CORPORATION
At Dec. 31, Winston-Salem, N.C.-based BB&T Corporation (NYSE: BBT) had $165.8 billion in assets and operated more than 1,800 financial centers in 12 states and Washington, D.C. More information about the company is available at www.BBT.com.
ABOUT LEXMARK
Lexmark International, Inc. (NYSE: LXK) provides businesses of all sizes with a broad range of printing and imaging products, solutions and services that help them to be more productive. In 2009, Lexmark sold products in more than 150 countries and reported $3.9 billion in revenue. Learn how Lexmark can help you get more done at www.lexmark.com.
Lexmark and Lexmark with diamond design are trademarks of Lexmark International, Inc., registered in the U.S. and/or other countries. All other trademarks are the property of their respective owners.
