Did you know …….?
The financial dilemma of printing occurs when hidden costs outweigh direct costs by a ratio of 9 to 1.
Many may argue that printing costs are too easy to tabulate. But print industry experts, such as managed print service providers, know that the real costs go far beyond equipment and supplies.
The truth is, for every $1 spent on office printing, another $9 is paid to manage it. This expense is created by administration, infrastructure, and IT support.
Analysis shows that most companies report that 40% of calls and tickets to technical services are print-related when evaluated in depth.
But IT is not the only department affected by print management. Supplies of equipment, toner, ink, and paper fall to the administrative and purchasing areas. It is the latter’s job to ensure that these items are obtained in a timely manner as well as inventory control. Larger offices may require periodic reports on print supply and ink levels. In some cases, this information may involve inspection of stored data from the printing equipment.
Print management encompasses such a staggering amount of hidden costs that nearly half (40%) of companies are unable to accurately track print costs and administration. As a result, most companies spend far more than they should to provide these services to their employees. A typical company spends up to 3% of its annual revenue on printing services.
By looking at such a cost analysis, finance departments could try to steer their company toward a paperless environment. In fact, many organizations have been working toward an all-digital office. But studies have shown that paper is still an essential feature for employees and security.
Managed print service providers (MPS) consolidate management, printer support and maintenance into one package, and you can leverage their knowledge, experience, and industry volumes to improve lead times, resolve issues and lower supply costs. Overall, MPS services can reduce overall printing costs by up to 30%. Cost savings from print-related help desk tickets and calls alone range from 7% to 14%.