Canton-based Diebold Inc. has a history that’s rich in innovation. Founded in 1859, Diebold was one of the first manufacturers of security systems in the country. Now, 140 years later, the company has stayed true to its roots, with security products ranging from the vault that houses the Hope Diamond to the weather-resistant ATMs at the new Cleveland Browns Stadium.
Since the 1960s, Diebold has been a pioneer in ATM technology. Diebold’s product lines also include electronic security and bank facility systems, such as drive-through teller equipment. The company’s primary customers include banks and financial institutions, hospitals, universities, public libraries and utilities.
Under the leadership of Robert Mahoney since 1985, Diebold has expanded its product line to include automated drug dispensing and inventory control systems for the health care market. Another product line, card security systems for colleges and universities, enables students to use a single card to access campus facilities, as well as make purchases from campus retail establishments.
The company has yet to rest on its laurels.
“We file for over 200 patents a year,” says Mahoney, the company’s chairman and CEO. About 40 percent of those applications become patents, consistent with the national average.
Even with 80 new patents a year, the company continually challenges itself technologically. Mahoney says he encourages innovative thinking among his 7,000 employees (including 1,000 at the Canton headquarters) by communicating with them on a regular basis over a number of different channels and offering remote education through the Internet.
In addition, Diebold fosters an entrepreneurial environment, which encourages people to take calculated risks without fear.
“Each developmental area within Diebold, in a sense, is set up like its own company,” Mahoney says. The philosophy gives each employee within those areas a greater sense of ownership.
One of the projects Mahoney now leads is helping banks transform their facilities so they can offer a wider range of products, including insurance and financial management services.
“It’s a huge opportunity, with over 650,000 bank branches in the world,” he says.
In addition, Diebold has invested in databases that will provide information on where customers shop, where they bank and the actual routes they take during the day (footprints). The information will be used to help banks transform into selling-oriented facilities, he says.
“We’re getting into professional services, outsourcing and consulting,” Mahoney says. “We’re not just a manufacturer.”
After a disappointing year last year — income before taxes dropped 35.5 percent to $119.8 million — Mahoney led a realignment effort that is proving successful. The effort, which included consolidation of facilities and the elimination of some jobs and noncore products, has saved the company $22 million.
Mahoney is focusing on bringing innovative, cost-competitive products to market more quickly and boosting worldwide sales. Diebold has offices in Argentina, China, India, South Africa and several European countries. Its manufacturing operations are in Ohio, Virginia, California, South Carolina and Argentina.
How to reach: Diebold Inc., (330) 490-4000 or www.diebold.com
