KeyBank Cuts Operating Costs Through Better Document Management

Cleveland-based KeyBank turned to automation and paper elimination technology from Xerox (Rochester, N.Y.), ultimately saving the bank $6 million in operating costs over six years.

Using a Xerox Lean Six Sigma-based assessment, Xerox Global Services and KeyCorp evaluated employees' daily work processes to design a document management strategy that saves millions on print costs. By decreasing the number of output devices, like printers, fax machines, copiers and scanners, from 10,000 to 3,500, KeyCorp also boosted productivity, reduced paper consumption, decreased power usage and eliminated tons of landfill waste, according to the companies.

Xerox suggests using managed print services as a faster way for organizations to maximize short-term cost savings, while adding value that will prime them for growth in the future.

"We evaluate every facet of the business to maintain our competitive edge, and it was clear that redefining our print environment was an opportunity worth our attention," said Al Pytel, SVP, KeyCorp, in a statement. "The managed print services strategy saves money, improves the security of our documents and provides higher quality service to our customers. Plus, Xerox's change-management approach integrated well with our internal strategies and was embraced by our employees."