Print costs have long been thought of as a non-negotiable expenditure that is simply another part of the cost of doing business. Many CIOs and SMB owners may in fact be surprised to discover that printing costs them as much as three percent of their annual revenue and that it is possible to spend less.

Managed Print Services (MPS) can help reduce expenditures, streamline printing processes and help increase your company’s bottom line, but changes can only take place after the total cost of operation (TCO) is determined.

Quantifiable Costs

Hardware

An MPS provider will begin by establishing a detailed inventory in order to see what is and isn’t necessary in your office environment. Many items such as printers, copiers, fax machines and scanners can be replaced with multi-function printers (MFPs) that do all of the above.

Supplies

TCO can’t be determined without factoring in the annual or lifetime cost of supplies. This can be a tricky process as there may be more than one person within your office environment that is responsible for ordering and inventory control. In addition, multiple vendors may be involved depending on the leasing agent and branding of equipment. This is however a worthwhile endeavor as the cost of items such as toner can be greatly reduced through an MPS program.

Maintenance

This is an area where careful management and a routine maintenance program can reduce the TCO of your print devices. Through outsourcing, valuable IT resources can be directed to other projects, and a reduction in downtime can help boost productivity.

Hidden Costs

Storage

No matter the size of your office environment, ineffective placement and excessive inventory can take up valuable floor space that could be utilized more efficiently. Storage space for an overabundance of hardware and supplies can be wasteful and reduce your overall office footprint.

Administration

By delegating print management to a number of sources in the office, employee productivity can be significantly reduced. A well run MPS program can relieve the burden from all departments, including IT where costs may be even higher.

Environmental Factors

When you consider the impact of printing on the environment, the TCO can take on a new meaning. Outdated or unnecessary equipment use energy and resources that not only cost money but make for a larger carbon footprint.

MPS can help reduce energy consumption by streamlining the number of components within your company, using Energy Star certified equipment, and through careful placement of MFPs for better access.

Paper and supply usage can be significantly reduced through the implementation of user defaults such as multi-sided printing, default monochrome printing and utilizing cloud technology.

Productivity

This is an area that can easily be satisfied with the introduction of MPS. Inefficient document workflow, including storage, delivery and accessibility can have a great impact on your bottom line.

The Solution

Print costs are often overlooked when an organization is looking for ways to increase revenues and cut overhead, but MPS have been shown to be an easy, effective way to do both. They can help you to reduce your TCO by:

Only after determining the true cost of printing within your office environment can you begin to make changes that can have a positive, economic effect on your office budget and revenues. Enlisting the services of a proven Managed Print provider is a great investment in your future, and one that can have immediate and long lasting results.