Most companies operate under constant cost pressures. The world is speeding up, and companies need to keep up with their competitors. To achieve new efficiencies and increase productivity in the office, companies should adopt a managed print services (MPS) strategy. This can help them save money by outsourcing document output operations to an external service provider.
MPS is a sustainable strategy that continues to reshape the business world. Analysts expect the MPS industry to grow at a CAGR of 10.3% between 2018 and 2025 and the global market to reach $59,709 million. More companies are deciding to focus on their core competencies and instead outsource digital support functions to a team of professionals. The model allows companies to scale operations as required and streamline document management processes to reduce costs.
5 Ways to Use MPS and Save the Business Money
Studies show that managed print services benefits organizations in a variety of ways. More than 60% of companies do not track printing costs. This means they have no idea how much money they are wasting every month. Moving to an MPS model starts with an accurate assessment of the company’s printing practices and helps them to understand how much waste is costing them annually. Once the MPS company follows the print environment, here are the top five ways they can help businesses save money.
1. Moving to Digital Workflows
MPS companies can provide document digitization solutions like automated workflows to reduce the need for paper documents. Relying on electronic systems for the flow of information through the company also speeds up task processing. This increases staff productivity, as they no longer have to search for paper files or spend time filing physical documents. The fewer paper documents the company uses, the more savings they gain.
2. Consolidating Printers and Multifunction Devices
As budgets stagnate, it’s common for companies to rely on outdated and legacy devices. While they may have served them well in the past, these devices become prone to failure or require expensive repairs. It’s also common for companies to use different devices to accomplish a variety of tasks. These take up valuable space in the office.
3. Gain Savings on Consumables and Supplies
The cost of printer supplies can add up over time. Certain devices cost more to operate due to inefficiency in their imaging transfer systems. Additionally, running out of supplies at critical times can wreak havoc on a company’s productivity. Instead of running out to a commercial supplier and paying a premium for new ink or toner, the MPS company will ensure stocks arrive in time. They will also incorporate the costs as part of their print supplies program.
4. Reduced Cost of Compliance
Companies need to comply with data security laws and regulations if they process sensitive information. It is up to the organization to demonstrate their compliance by conducting audits on their processes, controls, and risk mitigation strategies. The cost of compliance when using paper systems is expensive and complicated.
With an electronic Enterprise Content Management (ECM) system and an integrated fleet of MFDs, the company can reduce the cost of demonstrable compliance. Using automated workflows, an ECM system generates a complete audit trail of all interactions the staff have with company records.
5. Increased Information Security
Information security is vital for today’s businesses. An unsecured physical document or uncollected print can open the company up to civil liability. In a worst-case scenario, it could lead to network or data breach. To reduce the attack surface while moving to a digital system, the company should consider adding managed IT services to its operational strategy.
This will provide all the benefits of MPS while also improving the company’s digital infrastructure. Managed IT services can help the company upgrade its network security, ensure they implement the best cybersecurity practices, and establish a robust disaster recovery plan for improved sustainability.
Reduce Printing Costs and Improve Office Efficiencies with Managed Services from Blue Technologies
To keep ahead of the competition, companies should leverage the benefits of managed print services for reduced costs and reliable operations. Moving to a managed services model can help the organization to refocus its attention on its core business functions and free up staff to focus on essential tasks.
Blue Technologies work with companies to understand their needs and develop a tailored solution that helps them become more sustainable, efficient, and resilient. We provide managed print services, managed IT services, ECM solutions, and other business productivity tools that help companies gain a competitive edge.
If you need more information about the benefits of Managed Print Services or how Blue Technologies’ solutions can help you save on printing costs, speak to one of our agents today