{"id":37585,"date":"2019-12-05T13:21:28","date_gmt":"2019-12-05T21:21:28","guid":{"rendered":"https:\/\/www.enxmag.com\/twii\/?p=37585"},"modified":"2019-12-05T13:24:08","modified_gmt":"2019-12-05T21:24:08","slug":"ricoh-sounds-the-strategy-bell-during-annual-convergx-dealer-meeting","status":"publish","type":"post","link":"https:\/\/www.enxmag.com\/twii\/feature-articles\/2019\/12\/ricoh-sounds-the-strategy-bell-during-annual-convergx-dealer-meeting\/","title":{"rendered":"Ricoh Sounds the Strategy Bell During Annual ConvergX Dealer Meeting"},"content":{"rendered":"\n
\"\"
Jim Coriddi, Ricoh Americas<\/figcaption><\/figure><\/div>\n\n\n\n

Jim Coriddi made it abundantly clear during the outset of\nRicoh\u2019s annual ConvergX meeting, which took place Nov. 18-20 at the Aria Resort\n& Casino in Las Vegas. The vice president of\nRicoh USA\u2019s dealer division proclaimed that ConvergX 2019 was not about\nproducts or sales. <\/p>\n\n\n\n

There would not\nbe any garishly-dressed showgirls preening around a stable of new products, nor\nwere there any tigers jumping through hoops or fireworks-addled visual effects.\nNo Tom Jones or Celine Dion racing across the stage in full voice, singing,\n\u201cThe future is here, the future is NOW.\u201d Just a good, old-fashioned meeting to\ndiscuss dealer strategy. And for the 650-odd attendees\u2014primarily chief\nexecutives and key decision-makers\u2014that was just fine.<\/p>\n\n\n\n

\u201cThis is going to\nbe a different ConvergX,\u201d Coriddi told the audience. \u201cDifferent, because it\u2019s\nall about strategy.\u201d<\/p>\n\n\n\n

Coriddi instead\nturned the spotlight onto the dealers themselves in the opening address,\naccounting the success stories of people like Jeff Elkin of Advance Business\nSystems, and Jerry Mathwig of Metro Sales. A video clip showed Mathwig\ndiscussing the dealership\u2019s conversion to an ESOP ownership plan, noting that\nwith employees being co-owners, \u201cIt turns up the heat on their productivity.\u201d\nCoriddi also mentioned how John Lowery of Applied Imaging has witnessed a\ngrowth spurt that has catapulted the dealership past the $100 million plateau.<\/p>\n\n\n\n

These stories\nunderscored the growth of these companies since 2012, when Coriddi first took\nthe stage at the dealer meetings on the company\u2019s 50th<\/sup> anniversary\nin the United States.<\/p>\n\n\n\n

Strategy Focus<\/strong><\/p>\n\n\n\n

ConvergX 2019 was\nsimply all about the dealer and how it can leverage its relationship with Ricoh\nto go deeper and wider with customers. In fact, Coriddi coined the conference a\nLeadership Partner Forum, and at its heart was a series of 10 breakout sessions\ndesigned to bring value to the dealer. The topics ranged from workforce\ntransformation and subscription-based business models to integrated offerings\nsuch as production print as a point of differentiation, and next-generation\nsuccession planning.<\/p>\n\n\n\n

\"\"
The top 25 Ricoh dealers during the past three years<\/figcaption><\/figure>\n\n\n\n

One of the common\nthreads among the sessions was a call to action for dealers to visit the\ncorresponding booths within the Dealer Experience Center (DXC). Whereas the\nbreakouts acted as a primer\/appetite whetter to get dealers thinking about a\ngiven discipline, the DXC provided opportunities for a deeper dive and more\npersonalized consultation, along with actionable programs.<\/p>\n\n\n\n

During the\nopening session, Coriddi noted how dealers now account for 48% of Ricoh\u2019s sales\nas the OEM continues to focus on that segment being its primary channel.\nWhereas seven years ago, the manufacturer sought to be the No. 1 provider, it\nnow deigns to be the No. 1 dealer partner of customer value.<\/p>\n\n\n\n

\u201cConvergX 2019 is\nabout collaborating for customer value\u2026and how we\u2019ll work together to deliver\ntrue customer value that separates you from the competition,\u201d he told the\naudience.<\/p>\n\n\n\n

Critical Changes<\/strong><\/p>\n\n\n\n

\"\"
Joji Tokunaga, Ricoh Americas President and CEO<\/figcaption><\/figure>\n\n\n\n

Ricoh Americas President and CEO Joji Tokunaga talked about\nthe last meeting 18 months ago, when he was a newcomer to his roles. The\ncompany was in transition and needed to make changes. Tokunaga said he would do\nthree things: listen, tell dealers the truth and show results by his actions.\nThe company made critical decisions to help transform itself, namely bringing\nin new leaders and new thinking. As a result, Ricoh became more effective and\nmore efficient, he said, and more profitable.<\/p>\n\n\n\n

\u201cNow it\u2019s time to leverage those changes and the success to\nfocus on the future,\u201d he said. \u201cIt is time to expand our investment in your\nsuccess. It is time to stop focusing internally and start focusing externally.\nWe must change our mindsets to focus on our customers.\u201d<\/p>\n\n\n\n

In closing, Tokunaga cited the strength in Ricoh\u2019s technology,\npartnerships and people, imploring the dealers, \u201cLet\u2019s kick ass together.\u201d<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

The next morning, the conference\u2019s first full day, Tokunaga detailed the challenging market conditions and competitive landscape, including Chinese tariffs, Brexit, the Middle East unrest and the uncertainty surrounding U.S. politics. But despite the pundits who have painted a gloomy picture for the industry, he noted, \u201cI\u2019m very confident the industry will not only survive but resurge.\u201d<\/p>\n\n\n\n

On the Rise<\/strong><\/p>\n\n\n\n

Coriddi chronicled the company\u2019s fiscal 2019 success on the\nRicoh Family Group side, which saw overall revenue at 5% growth, with wholesale\nequipment purchases up \u201ca crazy\u201d 10%. From a unit standpoint, A3 color is up\n12%, fueled by the new IM color series. Production color (C7200 series and C9200\nseries) rose 21%, and the corresponding production integrated solutions revenue\ncame in even higher. Black-and-white did not fare as well, with A3 MFPs and A4\nprinters down roughly 5%. As a result, aftermarket sales were flat to slightly\nup. However, there is some growth in color aftermarket at 3%, and he used that\nas a jumping-off point to tout the company\u2019s ability to augment dealers\u2019\nannuity business going forward.<\/p>\n\n\n\n

In other areas, software gained 24% and Champs services\nrevenue is up 26%, while flat-panel display units surged 48%. In a nod to the\ndealers who have helped make growth a reality, a list of the top 25 RFG dealers\nin three-year purchase growth was shown. Coriddi also gave a shoutout to GFI\nDigital for attaining the highest national revenue growth.<\/p>\n\n\n\n

In closing, Coriddi said that Ricoh seeks dealers who are committed to sustainable growth and customer value.<\/p>\n\n\n\n

\"\"
The Ricoh Pro C7210 on display in the Customer Experience Center<\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"

Jim Coriddi made it abundantly clear during the outset of Ricoh\u2019s annual ConvergX meeting, which took place Nov. 18-20 at the Aria Resort & Casino in Las Vegas. The vice president of Ricoh USA\u2019s dealer division proclaimed that ConvergX 2019 was not about products or sales. There would not be any garishly-dressed showgirls preening around a stable of new products, nor were there any tigers jumping through hoops or fireworks-addled visual effects. No Tom Jones or Celine Dion racing across the stage in full voice, singing, \u201cThe future is here, the future is NOW.\u201d Just a good, old-fashioned meeting to discuss dealer strategy. And for the 650-odd attendees\u2014primarily chief executives and key decision-makers\u2014that was just fine. \u201cThis is going to be a different ConvergX,\u201d Coriddi told the audience. \u201cDifferent, because it\u2019s all about strategy.\u201d Coriddi instead turned the spotlight onto the dealers themselves in the opening address, accounting the success stories of people like Jeff Elkin of Advance Business Systems, and Jerry Mathwig of Metro Sales. A video clip showed Mathwig discussing the dealership\u2019s conversion to an ESOP ownership plan, noting that with employees being co-owners, \u201cIt turns up the heat on their productivity.\u201d Coriddi also mentioned how John Lowery of Applied Imaging has witnessed a growth spurt that has catapulted the dealership past the $100 million plateau. These stories underscored the growth of these companies since 2012, when Coriddi first took the stage at the dealer meetings on the company\u2019s 50th anniversary in the United States. Strategy Focus ConvergX 2019 was simply all about the dealer and how it can leverage its relationship with Ricoh to go deeper and wider with customers. In fact, Coriddi coined the conference a Leadership Partner Forum, and at its heart was a series of 10 breakout sessions designed to bring value to the dealer. The topics ranged from workforce transformation and subscription-based business models to integrated offerings such as production print as a point of differentiation, and next-generation succession planning. One of the common threads among the sessions was a call to action for dealers to visit the corresponding booths within the Dealer Experience Center (DXC). Whereas the breakouts acted as a primer\/appetite whetter to get dealers thinking about a given discipline, the DXC provided opportunities for a deeper dive and more personalized consultation, along with actionable programs. During the opening session, Coriddi noted how dealers now account for 48% of Ricoh\u2019s sales as the OEM continues to focus on that segment being its primary channel. Whereas seven years ago, the manufacturer sought to be the No. 1 provider, it now deigns to be the No. 1 dealer partner of customer value. \u201cConvergX 2019 is about collaborating for customer value\u2026and how we\u2019ll work together to deliver true customer value that separates you from the competition,\u201d he told the audience. Critical Changes Ricoh Americas President and CEO Joji Tokunaga talked about the last meeting 18 months ago, when he was a newcomer to his roles. The company was in transition and needed to make changes. Tokunaga said he would do three things: listen, tell dealers the truth and show results by his actions. The company made critical decisions to help transform itself, namely bringing in new leaders and new thinking. As a result, Ricoh became more effective and more efficient, he said, and more profitable. \u201cNow it\u2019s time to leverage those changes and the success to focus on the future,\u201d he said. \u201cIt is time to expand our investment in your success. It is time to stop focusing internally and start focusing externally. We must change our mindsets to focus on our customers.\u201d In closing, Tokunaga cited the strength in Ricoh\u2019s technology, partnerships and people, imploring the dealers, \u201cLet\u2019s kick ass together.\u201d The next morning, the conference\u2019s first full day, Tokunaga detailed the challenging market conditions and competitive landscape, including Chinese tariffs, Brexit, the Middle East unrest and the uncertainty surrounding U.S. politics. But despite the pundits who have painted a gloomy picture for the industry, he noted, \u201cI\u2019m very confident the industry will not only survive but resurge.\u201d On the Rise Coriddi chronicled the company\u2019s fiscal 2019 success on the Ricoh Family Group side, which saw overall revenue at 5% growth, with wholesale equipment purchases up \u201ca crazy\u201d 10%. From a unit standpoint, A3 color is up 12%, fueled by the new IM color series. Production color (C7200 series and C9200 series) rose 21%, and the corresponding production integrated solutions revenue came in even higher. Black-and-white did not fare as well, with A3 MFPs and A4 printers down roughly 5%. As a result, aftermarket sales were flat to slightly up. However, there is some growth in color aftermarket at 3%, and he used that as a jumping-off point to tout the company\u2019s ability to augment dealers\u2019 annuity business going forward. In other areas, software gained 24% and Champs services revenue is up 26%, while flat-panel display units surged 48%. In a nod to the dealers who have helped make growth a reality, a list of the top 25 RFG dealers in three-year purchase growth was shown. Coriddi also gave a shoutout to GFI Digital for attaining the highest national revenue growth. In closing, Coriddi said that Ricoh seeks dealers who are committed to sustainable growth and customer value.<\/p>\n","protected":false},"author":166,"featured_media":37586,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1650,82,87,1638],"tags":[3470,1737],"_links":{"self":[{"href":"https:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/posts\/37585"}],"collection":[{"href":"https:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/users\/166"}],"replies":[{"embeddable":true,"href":"https:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/comments?post=37585"}],"version-history":[{"count":1,"href":"https:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/posts\/37585\/revisions"}],"predecessor-version":[{"id":37591,"href":"https:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/posts\/37585\/revisions\/37591"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/media\/37586"}],"wp:attachment":[{"href":"https:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/media?parent=37585"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/categories?post=37585"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/tags?post=37585"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}