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Xerox Phaser 6115MFP All In One Color Multifunction Printer – Pick Up Only $125.00 |
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Xerox WorkCentre C2424 Color Network Printer Copier All In One w/Extra Ink $649.99 |
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Xerox Phaser 6180MFP/D All-In-One Color Laser Printer Copy/Print/Scan/Fax $949.00 |
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Xerox Phaser 3300 MFP All-In-One Laser Printer $240.00 |
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Xerox WorkCentre PE16 All In One Page Count 4116 $24.99 |
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Xerox WorkCentre C2424/DP All-In-One Laser Printer $100.00 |
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Xerox WorkCentre M20i All-In-One Laser Printer $125.00 |
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Xerox WorkCentre M20 All-In-One Laser Printer 1K $399.99 |
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Xerox WorkCentre 4260FX All-In-One Laser Printer $4,599.00 |
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Xerox Workcentre 7655 All-In-One Laser Printer $3,999.00 |
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Xerox Phaser 3635MFPX All-In-One Laser Printer $1,499.00 |
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Xerox CoLoR Phaser 8560MFP/D All-In-One Laser Printer $1,199.00 |
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Xerox WorkCentre M20i Copier Fax Email All in one Printer $299.99 |
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Xerox WorkCentre Pro 416Pi All-In-One Laser Printer $50.00 |
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Xerox Phaser 8560MFP All-In-One Laser Printer $595.95 |
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Xerox WorkCentre Pro 645 All in One Multifunction printer $79.99 |
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Xerox Phaser 6128MFP All-In-One Inkjet Printer $299.00 |
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Xerox Workcentre M940 Color Inkjet All-In-One Printer $59.99 |
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Xerox 8560MFPT All-in-one Multifunction Printer $2,499.00 |
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Xerox WorkCentre C2424/DP All-In-One Laser Printer $400.00 |
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Xerox WorkCentre 470 CX All In One Printer $39.99 |
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Xerox WorkCentre M20 All-In-One Laser Printer 61K $155.40 |
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XEROX 4118P WORKCENTRE 4118P LASER ALL-IN-ONE –NO FAX $275.00 |
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Bran New Xerox WorkCentre 4250/S All-In-One Laser Printer 4250S $2,380.00 |
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Xerox WorkCentre 4250/XF All-In-One Laser Printer $4,415.00 |
Xerox All In One Information
Xerox: From Ethics Zero to Ethics Hero
The new millennium brought with it the Y2K fear, a new century and a wave of corporate ethics scandals. Some companies managed to survive SEC fines, lawsuits and public backlash, while others weren’t so fortunate- Enron, WorldCom. The Securities and Exchange Commission (SEC) began investigating the accounting practices at Xerox in 2000, which eventually led to a $10 million settlement to be paid by Xerox. During Xerox’s post-scandal transformation, Sarbanes-Oxley came into effect to improve financial and accounting compliance. Today, Xerox has turned company practices around and secured a spot on numerous ethical companies lists. This post discusses the efforts at Xerox to rebuild the company’s reputation, going from ethics zero to hero.
Accounting Scandal
In 2002, the SEC filed civil fraud charges against Xerox. The charges were filed after a two year investigation into the company’s accounting practices. The SEC charges came at a time when major fraud scandals- WorldCom and Enron, broke out. In the CFO Magazine article “Xerox: New Lease on Life,” Craig Schneider wrote:
“The commission alleged that Xerox management accelerated the revenue recognition of leasing equipment over a four-year period by more than $3 billion, and inflated pre-tax earnings by $1.5 billion, to meet or exceed Wall Street expectations and hide its true operating performance.”
The accounting techniques used by Xerox violated the generally accepted accounting principles (GAAP). Revenues were inaccurately assigned to time periods in which they were not yet received. This resulted in inflated revenues, and also provided investors with inaccuate information pertaining to the company’s income/ assets. It was reported that management was aware of and even approved these accounting methods. According to the initial complaint filed by the SEC:
“The allegations in the complaint center around seven different accounting actions used, in Xerox parlance, to “close the gap” between the company’s operating results and the market’s expectations from 1997 through 2000. Many of these actions had the purpose and effect of accelerating Xerox’s recognition of revenue at the expense of future periods. According to the complaint, Xerox fraudulently disguised these actions so that investors remained unaware that the company was meeting earnings expectations only by using accounting maneuvers that could compromise future results.”
Another interesting point to consider is the fact that, unlike Siemens, it was reported that Xerox didn’t fully cooperate with SEC investigators. The lack of cooperation lead to the stiff penalty handed down by the SEC, as the $10 million fine was the largest fine administered by the SEC in a financial fraud case at that point in time.
Xerox’s Response
Practices at Xerox are much different today, as the company- like many others that find themselves facing compromising charges, has learned their lesson. The CFO Magazine article “Xerox: New Lease on Life,” stated that prior to settling with the SEC, Xerox had already ousted executives that had participated in the accounting fraud schemes. Following the $10 million settlement with the SEC and the restatement of company financials from the 1997-2000 time period, Xerox began their transformation, lead by CEO Anne Mulcahy.
According to the CCN Money article “Xerox Turns a New Page: Less than three years ago, the iconic company seemed doomed. Here’s how CEO Anne Mulcahy is bringing it back,” Mulcahy’s first step was to replace the company’s accounting team and begin cutting costs to reduce the company’s large debts. The article also takes note of Mulcahy’s optimism in her role as CEO- believing in the company and its ability to achieve greatness. When a company’s leader exhibits infectious optimism, it rubs off on employees. Mulcahy managed to successfully change the tone at the top at Xerox, which contributed to her ability to rebuild Xerox into the company it is today.
In rebuilding Xerox, Mulcahy focused on three areas that can be applied to executives in all organizations. The case study “From Goliath to Lazarus: Xerox is Revived by the Power of Customer-led Innovation,” discusses how Mulcahy responded to feedback from both employees and customers to make positive changes, she walked the talk and was able to prove to employees the need for change within the company. The case study also documented Mulcahy’s efforts to open up the lines of communication within the company by traveling to speak with people who would provide her with constructive criticism to bring the company back to success.
Of course, turning the company around and working towards gaining a profit wasn’t easy. Employees were laid off and various corporate functions were outsourced to save money. One of the processes selected for outsourcing was the company’s internal audit. If a company can manage to do so, it’s wise to outsource the internal audit function. Although there has been much debate over the decision to outsource the internal audit function, the objectivity and opinion of an outsider can provide greater benefits for the company, as an external auditor doesn’t have any direct relationship to the company. According to the article “Internal Audit Outsourcing Services,”:
“The benefits of internal audit outsourcing include:
- Quick start-up of the function and execution of work, including already-developed methodologies and audit tools provided by the outsourcing organization.
- A variable-cost arrangement rather than a fixed-cost function.
- Access to a greater number and wider range of resources.
- Potentially greater objectivity and independence.”
Companies must learn from the mistakes other organizations have made in the past in order to avoid making similar ones in the future. Leaders must understand how to identify ways the issue could have been detected and addressed sooner. The ethical lapse at Xerox forced company executives to reevaluate the way accounting matters would be handled within the company, while new members were brought in to ensure that known inaccuracies were reported and corrected.
About the Author
i-Sight is a case management software platform designed to simplify your process and provide outstanding reports. It’s primarily configured to manage customer complaints and corrective actions, or employee relations, HR & ethics investigations. It’s also used for a variety of other customized case management solutions. We blog at i-Sight.com, providing advice and tips to HR managers and investigators in regards to managing internal investigations.
Xerox All In One Question
Scanner won’t work (PixmaMP160-multifunction)?
I have a fresh XP installation with all the basic drivers. After installing the CD-ROM of my mp160 all-in-one machine, it was able to do it successfully. The machine is detected by my PC as a printer and a scanner. I can do printing and xeroxing. But when i do scanning with the USB connected and powered up, this is always the error,
“scanner is not connected or may be turned-off…” error:2,155,0
although i can do printing and xeroxing.
I tried this to my other PC and the same problem. I did another fresh install and still encountering the issue. I also noted that the machine is detected in my scanner/imaging devices that can be seen in the control panel.
Please help me resolve this issue.
this happened to one of my technicians when he attached the unit without installing the driver first.
what happens is that a sudden electrical surge travels through the usb cable and fries the scanner circuit.
the answer was : send scanner back for warranty. and next time, install the driver first, as it says on the manual
Which Laserjet all-in-one should i buy Xerox or Samsung?
Here are my two choices (in alphabetical order)
1. Samsung SCX-4300
2. Xerox Phaser 3100MFP
Samsung – easier to get consumables.
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