Xerox's Plans to Reduce Paper Waste

" Back now live from Santa Barbara California The Wall Street Journal economics conference -- Xerox. Synonymous with copies right but the company is actually trying to turn on its own genetics upside down teaching companies how to save millions -- Managing documents and reducing the number of copies that they make. Now companies are lining up at Xerox to find out how to do it to what are the printing company won't help clients deep -- there -- of their own product. -- chairman and CEO joining us now exclusively on Fox Business thank you KeyCorp for example yes. They came to you what they say that help us save money and you talk the economy fewer copies."

" And six years later he saved them a million dollars a year yes. And the reason we're doing it is because for listening that's for our clients are asking for -- looking. Really forward two different things are looking to optimize your infrastructure they do want to spend lesson it's particularly important now. But sustainability they want to be more responsible -- want to print less than one more view content. They clearly want to get control of their documents and it's a big business for us it's really the driver of our services business which -- half billion dollar business now okay services I'm glad you brought that up because of people are saying let me stick with the old Europe pretend that I have because I don't have the money to buy a new one right you can at least sort of on that IBM model come through with the service is part of the industry. What are you going to build that up well you know and -- the printer itself it's a -- And quite frankly a narrow part of document management and a lot of it comes with. Designing documents. On digitized documents we all still live in a papal world for the did you station of information is really a very big business. Then it's the story just the retrieval -- the content management associated with that. So there's clearly a whole value stream of opportunity around documents that. You know the printer and now more importantly the multi function device because it's far more efficient. Is just the kind of network appliance for ten and here you are also coming up with other solutions when I was at Xerox park the Palo Alto -- center last June. We look at it traceable paper because because it is found that people look adopted -- look at the paper and about 24 hours later. 80% of -- is tossed the majority of what we look at it has transient value the day. And yet obviously that piece of paper is is gone for good. And therefore this context of saying okay and non -- based print. Where it can disappear and can be programmed to disappear somewhere you know eighteen hours 24 hours whatever. And be reused hundreds of times it's just a wonderful solution and what piloting it today we think it has a lot of merit. But in addition to that we have solutions available now things like high yield paper which used. Half human trees. And -- you know we invented two sided copying and a lot of our clients now are defaulting. In doing everything on for two sides have to look at all the the printer yes look at the -- defaults which is absolutely this conference here though the people. Right now look at. All of you I mean it just talk -- Todd -- did see each other days starting at eleven product. But there are loads of people on Wall Street right now it's it's no credit. Nobody's doing business everything's frozen out when he's not really the experience you're having right now as a major company out there. Well -- I think there's a lot of drama. Certainly around that. Doesn't necessarily flow through it had the impact that. You know we hear about. There's no question that you know business clients are impacted and people are holding back on purchases. But they are buying what they need and part of what we have to do. In our businesses isn't sure that our. Our offerings are lined up -- what people actually care about and are willing to -- in times like this. And that's where you know if you could impact the bottom line and say companies. Twenty -- 30% of what they're spending -- certain area and then they're going to make that investment at this point in time. So we're seeing impact but we're an annuity based business switches. A great business model in times like this so I'd say it's a lot. Less of a dramatic impact that it might be a transaction the new administration there -- Dealing with a whole host of issues that panoply of drama out there it deals like the stimulus plan as a business leader what do you think that. Well I like the stimulus plan as a citizen first I would have to tell you that -- we need to take action we needed to be quick. IE. Believe that this is one where speed -- perfection in terms of whether or not we like everything in the stimulus plan or whether it's perfect. -- I think that the plan com has a spending I'll admit to it that a consumer elements that are so important for. Our economy. I'm not sure that business was the number one focal point for the stimulus plan and I'm okay with that. Looking to say if we can straighten this economy. To reduce unemployment. Clearly address some of the really systemic issues and that's going to be good for business as an outcome love verses and east is. Specific set of tax incentive speaking of taxes are you okay if wealthier people attacks of of course he's defining it as 250000 or more lovable that's not -- but. That that whole theory of from the top down where the -- of the wealthier people are already paying quite a bit of taxes that they've got the capital gains of benefits so far yes I'm okay. I'm actually realistic and down we have a lot of enormous problems in this country. And we have a huge deficit are ready. And we're going to have to start paying for some of the solutions that we have to put in place and I'm a realist and I believe that this gotta be. Certainly. Some increase taxes and clearly it's going to be those that have the most well. Anne Mulcahy chairman and CEO of Xerox thank you very much for coming on fox explicitly it's great to hear your thoughts great. Our colleges this year that I have pledged strict support the other. And thank you so much."