Between invoicing, record keeping and communications, most businesses are thought to be spending between one and three percent of their annual revenue on print costs. In addition, few Small Medium Sized Business owners are aware of the exact amount of inventory their company is carrying between equipment and supplies. Multiple devices may also rely on multiple vendors for repairs and replacement equipment adding to the confusion.
Knowing the true cost of printing can pave the way to a reduction in print usage and expenditures, streamline work and printing processes and increase your bottom line. Managed Print Services (MPS) can help get you on your way; here’s how.
What is the True Cost of Printing?
Because printing is a necessary part of doing business, it isn’t an area often considered when management is looking to trim costs, but the fact is, if you don’t know what you’re spending, how do you know how much you could be saving?
Ask yourself the following:
- How many printers are in your office?
- Of those how many are multi-function printers (MFPs)?
- Are they all from the same manufacturer?
- Do they each carry separate maintenance/service agreements?
- Do the supplies for each come from the same vendor?
- How much are you spending each year on ink cartridges, toner cartridges, paper and hardware?
- How many steps are necessary to print?
- Do you have a sustainability initiative in place for office printing
The Benefits of MPS
The road to the successful management of your print services begins with an in-depth assessment of current inventory and expenditures. By examining document workflow improvements can be made to streamline processes and get costs under control.
Savings can be realized by:
- Eliminating redundant or outdated equipment.
- Optimizing the ratio between employees and equipment.
- Reducing the amount of devices and supplies.
- Streamlining document workflow to eliminate unnecessary steps.
- Introducing print rules such as double-sided or monochrome printing for certain applications.
Through proper placement of equipment within the office, employees can save steps and increase production. Optimizing processes to take advantage of digital solutions can save both time and money.
Through managed print services, you can free your IT resources. As a rule IT will be responsible for call outs for malfunctioning printers, many of which then require a second call out to a service vendor.
By introducing secure print practices and protocols, the level of security for printed documents within your organization can increase exponentially. Features such as data encryption, PIN or password enhanced printing and image overwriting can help keep sensitive documents safe and secure.
Small changes can make a big difference.
- Protocols can be put in place to re-route or outsource jobs to the most cost effective printing method, saving toner, paper and emissions.
- Print rules such as double-sided printing or toner saver settings can be enacted.
- Through the use of recycled products and materials such as paper or toner cartridges your company can reduce its carbon footprint substantially.
The true cost of printing within your organization is most likely higher than you think. MPS can successfully manage all your printing needs, while minimizing the cost. By assessing current practices and procedures, improvements can be made that result in the increased productivity and efficiency of your business, where employees spend less time on printing and more time working towards increasing your bottom line.
To find out how much your business spends on print, click here for your free print assessment: