February 24, 2010

BB&T Corp. (Winston-Salem, N.C.) awarded an exclusive, five-year managed print services contract to Lexington, Ky.-based Lexmark International, Inc. As part of the agreement, Lexmark will standardize and optimize the number and type of output devices throughout BB&T's 1,800-plus retail branches and at its headquarters in Winston-Salem. Lexmark said it 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.

"We selected Lexmark because of the company's thought leadership and the clear experience they have to drive this type of initiative successfully," said Ken Hernandez, Principal Sourcing Consultant, BB&T, in a press release. "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 also will 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, according to Lexmark.

"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 VP and president of its Printing Solutions and Services Division, in a press release. "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."

ABOUT THE AUTHOR
Katherine Burger is Editorial Director of Bank Systems & Technology and Insurance & Technology, members of UBM TechWeb's InformationWeek Financial Services. She assumed leadership of Bank Systems & Technology in 2003 and of Insurance & ...