As with all industries, the engineering profession has felt the impact of the coronavirus pandemic, both fiscally and operationally. In addition to these challenges, the pandemic accelerated the move to a digital transformation, although the engineering and construction (E&C) sector is lagging behind in adopting these technologies.
Last year taught us a lot about what to do and what not to do when running a business during a crisis. And fortunately — or unfortunately, depending on how you view it — there is always a crisis right around the corner, so no lesson garnered during the coronavirus pandemic is ever lost.
Small- and medium-sized businesses experience major — sometimes crippling — challenges due to IT downtime and technology issues. The business disruption caused by downtime is serious and can lead to lost customers and lost revenue.
This year, all industries are reporting an increased adoption of document management systems (DMS) in response to the need for expanded work efficiencies and a focus on digital transformation, as more companies move toward a paperless environment.
Travel agents rely on vivid printed materials to communicate the splendor of their destinations. There was a time when some agents thought the end of travel flyers was near. This proved to be false as travel agent marketing materials still find wide-scale adoption in the industry. What has changed is the ability of agencies to produce these materials internally, saving on production costs and enabling them to restock promotional flyers on the fly.
Every company suffers from some kind of waste in its printing operations. For architects, this can lead to increased costs and lost revenues if they don’t track all prints accurately. As architects can charge reimbursement costs to customers for all their project-related prints, they must monitor all printing tasks in the firm.
It takes a lot for a manufacturing company to succeed. Such companies need to know how to manage various priorities, including their clients, suppliers, and own workforce. There’s also the constant management their equipment requires.
No matter how much your company increases revenues, if overhead keeps growing with it, your profit margins will remain small. That’s why so many CFOs are tasked with continually looking for ways to save money.
Does your company take advantage of managed print services? Most companies do these days, but there are still several companies that have been putting off such transition. Though it may seem like a big decision, it often makes a lot more sense when you consider the many advantages of implementing such a program.