Most SMEs would agree that office printers and multifunction devices are an essential part of their daily business operations. However, 22% of small businesses also agree that costs of printing are a major concern for them (Fuji Xerox Printers 2016 Customer Insights Survey). Did you know that printing can account for up to 6% of business revenue? The truth is that many businesses spend more money than they need to on printing purely because they don’t know how to control costs. Unnecessary printing costs can come from personal printing, lack of training or outsourcing printing. In this article, we are going to reveal three simple and effective solutions for reducing your office printing costs.
When buying a printer or multifunction device, the initial upfront cost is not always what you should be looking at. The lowest buying price doesn’t mean it’s the most cost-effective solution. When your business is looking to purchase a new printer, you need to look beyond the buying price. Before you invest in a printer, it’s important you look at the overall costs involved with purchasing and running the device. To save money on printing costs, you want to be looking at the total cost of ownership (TCO). Printers with the lowest TCO offer the best value in the long run.
Researching and understanding the TCO when purchasing a new printer or device can help prevent unnecessary financial or productivity loss in the future. There are three key things to take into consideration when calculating a printer’s TCO.
Once you understand what goes in to calculating the TCO of a printer, you can begin looking at the individual needs of your business and how your printer or multifunction device will be used in your organisation. Consider things like:
After you have gathered the above information, use this handy equation to find out the TCO of your printer.
Managed Print Services (MPS) has the potential to save SMEs a large sum of money, which is why it’s such a popular solution for many businesses. MPS is the outsourcing of maintenance, management and support of your printer to a professional third party for a set per-page price every month. The benefit is that your print costs are known in advance, it’s a cost you can plan and budget for, and one you can factor in to your cash flow requirements.
However, for MPS to actually be beneficial to your business, with the help of your MPS provider you can assess your company’s current output situation. Once you have an accurate picture of total cost of ownership (TCO) for all your printers and copiers, you can then optimise them to provide both short and long-term savings for your business.
The major benefits of MPS
Besides reducing the printing costs of your business, there are a range of other benefits of MPS.
Do you sometimes find that your office burns through your cartridges, colours are off and you need to have your device regularly serviced and you’re spending more money on your printer than you thought you would? It may be because you’re using non-genuine toners.
Sourcing cheap consumables is a common tactic businesses use to save money. However, the reality is that non-genuine toners can cost your business much more in the long run. From lower page yield to machine downtime, loss of productivity and damage to your device, non-genuine toners are in fact much more expensive in the long term, and certainly not worth the ‘cheaper’ outlay.