Managed print services continue to offer surprising savings benefits to organizations in a wide variety of industries. Often, managed print agreements are initiated to lower internal costs, but it's not unusual for business leaders to find out that there's more to a managed print engagement than they realized. When the benefits trickle down into workflow processes, employee productivity, green initiatives, and even information security, everyone is pleasantly surprised.
There are plenty of services out there that are packaged as a one-size-fits-all for businesses, but Managed Print isn’t one of them.
Instead, managed print is customized to your business needs based on activity, budget, demand, and even the layout of your office. The data collected works to continue improving processes and costs. Here’s a peek at some of the ways managed print gets tailored to your particular needs.
Businesses without managed print tend to have inefficient inventory control measures. In fact, many don’t have any kind of inventory control. The result is too much or too little inventory and no measures in place to combat misuse or loss. With managed print, paper and ink or toner inventory is part of the package, so you’ll know that there’s tighter control of those products.
With the recent advances in print technology, more companies are doing much of their printing in-house. Along with internal printing, companies are taking advantage of user-friendly digital printers to produce marketing materials like catalogs, brochures, direct mail advertising, and wide-format signage.
More access to in-house printing means it's more important than ever to keep a close watch on print spends. The average U.S. company directs 3% of their annual income to print, but most are unaware of their total costs. Printing expenditures are often shuffled to miscellaneous expense categories, and without centralized management, companies can exceed budget parameters in a hurry.
Are you managing your printer fleet on your own? Or perhaps it's not being managed at all? Either way, you're probably spending money too much to print documents, and you could be directing those revenues toward capital projects.
Managed print services are the solution many businesses choose to get printing costs back where they should be. Here's how managed print services providers can help you get the most value from your print infrastructure.
Help your employees help you save money.
With no printing guidelines, employees often make decisions that aren't in the company's best interest, usually without realizing it. Managed print services can help by first determining your current print volumes. From there, managed print providers decide what solutions you need in place to:
You may not be aware of its impact, but an unstructured, hands-off approach to your print environment can lead to an alarmingly long list of inefficiencies and high costs. Since many print-related expenses fly under the radar or are redirected to other expense categories, it can be challenging for business managers and owners to gather accurate statistics. Fortunately, a managed print assessment can bring things back into focus.
Are you thinking about signing on with a managed print services provider? That's a smart move for your business, and the reasons for a managed print partnership don't end at lower print costs.
More to Gain
Businesses and organizations typically engage the services of a managed print provider to save money on printing costs. In fact, some paper-intensive sectors like the legal and healthcare industries see print-related cost reductions as high as 40% or even more.
Saving money is certainly a good enough reason to give a managed print a try, but we thought you'd like to know about some of the other advantages.
Is a Managed Print Services engagement right for your organization? Here's an overview of the steps MPS providers take to deliver savings and efficiencies:
Determine your current condition. No two companies are the same, and no two print environments are the same either. A managed print provider worthy of the name will conduct a thorough assessment of your current condition, determining your print volumes, the status of your equipment, how your employees use your fleet, and how you acquire new devices and replenish supplies.
You know how much you spend on office space and employee salaries, but do you have a solid number for printing costs? For many organizations, their annual print spend is their third highest operating cost, so it's worth investigating.
Are You Paying Too Much?
In the same way, you wouldn't unknowingly pay extra for rent and labor, careful management of your print environment can keep you from paying too much for printing. Here's how to find out if hidden costs are driving up your print spend and how Managed Print Services addresses the issue.
How many devices are in your fleet?
Is an unmanaged print environment driving up your operating costs? Here's how Managed Print Services can help you find out.
1. Collecting the information.
Hidden costs in your print environment are a direct result of hidden information. Managed Print Services uncovers that information to answer questions like:
It can be challenging to put your finger on printing costs, but underestimating them is common. Managed Print Services assessments often uncover hidden costs and expenses that range from 1% to 3% of annual revenues. Here's where many of those unmanaged expenses originate.
1. Paper and toner
You may know how much you're spending on paper—the answer is there at the bottom of your monthly invoice. The hidden costs are in the paper at the bottom of your trash cans and recycling bins every day. Wasteful printing is a top offender in an unmanaged print environment, but a Managed Print Services solution can begin addressing the issue of both paper and toner waste.