The TDSIT Blog

4 Key Benefits Managed Print Services Can Offer the Legal Industry

Posted by Tim Stanley on Fri, Oct 28, 2016 @ 03:12 PM

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One industry that is notorious for being heavily paper-driven is the legal industry. Did you know that law firms spend an average of 1 to 3 percent of their annual revenue on printing costs? Of these costs, only about 30 percent is spent on printer maintenance and toner. 

Perhaps the biggest contributor to high printing costs is when a piecemeal approach is taken to purchasing new printing equipment and supplies. When employees and departments have free reign to make print-related purchases, it usually results in unnecessary spending and waste. It can also be difficult to gain an accurate picture of the total cost of operation (TCO) of a printing infrastructure when using printing equipment from a variety of manufacturers. 

With all of this being said, there is a huge opportunity for law firms to trim these costs and gain control over their printing infrastructure. By partnering with a Managed Print Services provider, law firms can gain control over printing costs, improve printing processes and streamline document workflows. 

Here are four key benefits that Managed Print Services can offer the legal industry:

1. Determine Your Cost of Printing

One of the very first steps that a Managed Print Services provider will take in your partnership is to conduct a print assessment, which will provide you with a fact-based report of your actual printing volumes, user behaviors and costs. With this data, an MPS provider will identify opportunities for cost savings and ways that the existing printing infrastructure could be optimized.

2. Provide Strategic Printer Placement

By having a clear understanding of printing behaviors and volumes by employee and department, an MPS provider will not only recommend the ideal equipment to best serve your firm's needs, they will also strategically place printers to streamline workflows and increase productivity. 

3. Address Challenges

Some of the most common challenges in the legal industry include maximizing billable hours and gaining faster access to key documents. By converting paper documents to digital files an MPS provider can help your firm to increase search capabilities, save time and improve security.

4. Strengthen Security

Law firms have a significant amount of confidential data that passes through printers and hard drives, which increases the risk for data theft. An MPS provider can help protect this information with security protocols that reduce the risk of data theft

Contact us to learn more about how Managed Print Services can benefit your law firm today! 

 

Tags: legal

MPS & The Legal Marketplace - The Ideal Partnership

Posted by Tim Stanley on Thu, Sep 05, 2013 @ 02:49 PM

 MPS and the Legal marketplace

The legal profession is a document intensive environment. Many firms have a copy center located on each floor. Individual attorneys may have individual copiers, faxes and printers located in their office. With such a diverse array of technology, many firms are not accurately accounting for inventory, maintenance, document preparation and printing costs.

Gartner Research estimates that firms spend between 1 to 3% of their total revenue on document output alone. These numbers are enormous, but many company’s IT staff are unaware of the total cost of operation (TCO) or even the number of output devices in their office. Toner supplies and maintenance can account for roughly 30% of the TCO. There’s usually no reasonable upgrade policy in place and machines and supplies are often purchased directly by the end user without any accountability.

Add to these costs the need for immediate access to critical documents and the high regulatory burden placed on law firms and it becomes easy to see how an un-audited print environment can result in potentially thousands of dollars of lost revenue and profit.

MPS and the Law

While many firms turn to their internal IT specialists to manage their print environment, they are often dealing with a myriad of different devices. Their time is spent maintaining machines with little time left for upgrading and standardizing assets or cost control.

Managed Print Service companies are one way for firms to assist their IT professionals and begin to control costs. An MPS company will first perform an audit of assets to determine the feasibility of updating and standardizing equipment. Printing technology has improved in recent years and the simple act of replacing aging technology with the newest multifunction machines can result in increased productivity, improved workflow and significant cost savings.

MPS reaches far beyond standardizing assets and enacting print protocols. There are specific challenges in the legal industry that can benefit from the expertise offered by MPS. They include:

  • Maximizing billable hours
  • Tracking and allocating in-house and client costs 
  • Disaster planning and recovery
  • Compliance with regulatory burdens such as, Sarbanes-Oxley Gramm-Leach Bliley, The Security Exchange Act of 1934, and The Anti-Money Laundering Act
  • Search ability, instant access and retrieval of critical documents and forms

These challenges can be readily addressed once your MPS partner has performed a complete work assessment and put in place protocols. New software solutions are available that can make tackling these challenges easier. By using an MPS provider to implement software upgrades, your in-house IT department is free to focus on other mission critical tasks. By managing print usage, improving office infrastructure and implementing software controls, many firms find significant savings to their bottom line costs.

Paperless Solutions

As more businesses seek sustainability MPS providers have been moving companies towards paperless solutions. By integrating MFP technology into the office environment documents can be scanned and stored on hard drives for later retrieval. This results in less inventory use and additional bottom line savings. Software solutions like Xerox ConnectKey technology offer the highest levels of security and extensive document sorting and retrieval functions. Your MPS provider can also assist with disaster planning and secure back-up solutions that allow for added security and faster recovery from any potential problems.

Hiring an MPS provider can help you to realize significant savings throughout your firm’s print environment. By reallocating and upgrading assets, streamlining compliance procedures, controlling inventory, and implementing print protocols your MPS provider can move your firm towards a paperless future. Working with a Managed Print Service provider is a smart business decision that translates directly to your firm’s bottom line.

Click here to find out how your legal office can save up to 30% in print costs in 30 days:

cut print costs

 


Tags: managed print services, scan to pc, cloud printing, total cost of printing, legal