Tom Day
Tom Day, CEO of West Point Products, oversees one of the office imaging industry’s leading suppliers, a supplier with a reputation for providing independent resellers with premium replacement imaging supplies, managed print services, and recycling programs. Day joined West Point more than 15 years ago after stints at various companies outside the imaging industry where he worked in various management and financial positions.
During our conversation Day shared what’s new at West Point products in terms of products and programs, what resellers can hear from the company in the coming months as well as what segments of the business are doing well along with an emphasis on the trends that are driving West Point’s business. What he wasn’t comfortable sharing was anything about himself, preferring instead to focus on the company and not the man driving the organization.
What’s new at West Point Products?
Day: West Point continues to focus on innovation and providing value-add solutions to our customers. Last year, we were pleased to launch ColorLogic and PrintXL to our customers. We also redid our Website, which now includes new features and functionalities with important, organized content for all West Point Products’ services, products, support and more. The first quarter of this year will bring some big announcements related to our Axess MPS program. These announcements include the addition of FM Audit as a remote monitoring software option, an upgrade our PrintFleet server, and the formal release of auto-toner fulfillment solutions for dealers looking to enhance and streamline this process within their MPS program.
What specific segments of the business are doing well for you right now?
Day: We see continued growth and opportunities in color laser with growth of our ColorLogic Technology line. To help our dealers maximize the return on our color laser category, we provide them with a “Dare to Compare” marketing kit to help educate their customers and overcome sales objections. In addition, we see a high demand for the PrintXL cartridges which provide the lowest Cost Per Page without compromising quality.
What trends are driving your business?
Day: At West Point Products, we are relentlessly focused on helping our dealers be more profitable in their businesses, no matter how they utilize our imaging supplies in their business model. We see pricing pressure in all the channels we serve; so that focuses West Point on delivering the leading imaging supplies at a fair price coupled with value-added solutions and uncompromised quality to help our customers overcome the pressure they sometimes feel to compete on price alone.
Why do you think dealers/resellers like doing business with West Point?
Day: I believe our customers would tell you they like doing business with West Point Products because we are truly a one-stop destination for imaging supplies and value-add solutions. The range our product line provides dealers, not only in monochrome and color remanufactured cartridges, but also in MICR, inkjet, and postage meter supplies, coupled with our comprehensive suite of MPS support software and contract services, allows our dealers to work with one supplier for a broader range of solutions, cutting down on the soft costs associated with maintaining multiple, less strategic partner/vendor relationships. As remanufacturer, we know that because we go well beyond simply providing products to our customers, everyone wins.
West Point has a good sized business, do you still think there’s room for growth? If so, where do you think that will come from?
Day: West Point Products has experienced tremendous growth in recent years, but we still see a great deal of opportunity as well. We see growth opportunities in both our existing product lines, through increased penetration and expansion of our customer base, but also in additional products and markets. As large as the imaging aftermarket has become, it is still less than a quarter of the North American imaging supplies market as a whole. There is still a great deal of potential for growth for us and our dealer base to take advantage of the unique value proposition we offer our dealers, and through them, to end users.
Are you finding that foreign competition is heating up and taking a bite of your reman business?
Day: There always has been, and always will be, competition from other aftermarket imaging supplies companies with different value propositions than ours. Fortunately, the market has continued to mature and become more sophisticated, making our value proposition of supporting our customers with extensive added value and potential for growth appealing for many dealers. We understand that foreign competition will continue to put price pressure on the overall market, but have always put more emphasis on value than price, and we will continue to do so.
How do you compete with those folks?
Day: We compete like we always have, by West Point’s value proposition that promotes the cost of savings against the OEM, the environmental benefits from remanufacturing cartridges, our exceptional quality, and the fact we do not infringe on OEM patents. Again, it comes down to the question of price versus value. We will always strive to provide the best value to our customers.
How does the rest of the year look for West Point?
Day: I’m looking forward to the rest of 2014. As I stated, we have several significant announcements that we expect to make in the next few months, and tremendous opportunity for growth. The imaging supplies market is an exciting place to be, and we look forward to continuing to support our customers and help them grow.
