Marching into the new year, companies might be looking for ways to shake things up. These changes might include reducing or increasing prices, improving productivity and efficiency, or hiring new employees.
As always, profit is the key consideration for every business. As such, one of the first moves companies often look to make in the new year is to eliminate factors that hinder profit. Simultaneously, they are also looking for newer, more efficient ways to improve their bottom line.
But businesses should be wary about considering eliminating office printing. Business printing has long been a core aspect of efficient office processes and 2023 looks to continue this trend. While businesses turn increasingly toward digital sharing and communications, ink and paper are still playing a crucial part in helping employees operate at their best. Office printing still provides important tools for sales and marketing, employee engagement, and efficient solutions for meetings, note-taking, and much more.
Here are just a few ways office print remains important in the coming year.
Printing Usage is Expected to Increase Rather Than Disappear
Moving closer to a fully digitalized society, experts and idealists continue to envision a paperless future. Yet, the printing industry and use of print is expected to increase rather than take that oft-predicted nose-dive. Recent research shows paper used for printing is likely to increase by 50% as the average worker continues to print 34 or more pages per day.
There is a wide range of documents many individuals still consider necessary to print for use, reference, or storage. Legal documentation, important financial statements, banking forms, presentations, and meeting notes are just a few of the things employees and customers continue to demand in printed formats. But why?
While digital signatures are becoming exceedingly common, people of all ages remain more comfortable with physical signatures than digital formats. Similarly, providing printed documents for meetings helps relieve stress as attendees have a clear guide to the meeting and a place to take relevant notes. Written notes are especially important as they help employees and customers analyze and retain the information discussed.
However, when it comes to the company’s bottom line, the massive amount of paper employees use could be an issue. Despite the importance of printed documents within the workspace, around thirty percent of pages printed by employees are thrown away. It seems clear that implementing stricter printing policies along with a wider range of digital document options could be the solution to cutting printing costs. But how much of that waste is employee-driven versus machine error?
Printing Costs Likely to Have a Bigger Impact on the Business’s Bottom Line
As inflation continues to maintain its stranglehold on the economy, the cost of printing supplies, equipment, parts, and service is likely to remain high. Research shows continuing economic pressures could force up to a 30% increase in printing costs.
Office printing costs traditionally take up the third slot for the largest business expense, right behind rent, payroll, and other business utilities. But improper print management and printer-related inefficiencies can increase printing expenses by up to 15%.
Rather than immediately sinking large sums into digital document solutions, businesses should look to proper print management to streamline their printing costs. In most cases, document waste, supply levels, and equipment issues are the root cause of overspending. Eliminating paper jams, employee education, and more efficient printer equipment can significantly reduce print waste and save the business big money.
Fortunately, there are print industry professionals who can help evaluate and recommend customized solutions for any office. Managed print services providers can streamline a business’s printing processes, provide more efficient print management, and significantly improve the print impact on a company’s bottom line.
Printer Service Partners Will Become a Key to Business Success
IT departments are not print industry experts, making the task of a thorough office printing audit and strategy difficult without bringing in outside resources. A focused printing professional can help evaluate office print waste and appropriate use by location and department. They are then able to make recommendations about equipment, strategy, printer features, and supply levels that will improve business efficiency while controlling spiraling costs.
The correct printing equipment for a business is especially important as the size, model, and efficiency directly affect costs associated with floor space usage, electricity/energy pull, as well as ink and paper volumes. Additionally, newer printing equipment is designed for efficiency, maximizing ink and toner use and reducing electricity to save even more on operational printer costs.
But equipment, supplies, and paper waste are not the only price of inefficient office printing. Old, outdated, or improperly serviced machines can also lead to an influx in maintenance and service calls to the IT department. Most businesses with interoffice managed printing report up to 50% of calls to the IT help desk revolve around printing issues. Most complaints require technical help for equipment problems, paper jams, flawed prints or copies, or software malfunctions.
In addition to providing better equipment and printer configurations, managed print services partners have the capacity and ability to absorb the maintenance, customer service, printer security, and other day-to-day operations of the office print platform. The savings in IT time, payroll, and help desk efforts alone can help refocus the department onto things that directly benefit the business’s bottom line.
Planning for the future
Office printing will remain a strong component of the business space in 2023, alongside ongoing digital transformation. However, rising printing costs will continue to impact many businesses – generating a significant need for new and improved printing strategies and management.
Fortunately, there are business printing solutions available to help companies continue to meet the printing needs of their employees and customers without taking too hard of a hit to their overall profits. Managed print services providers are ready and available to ensure that their business partners have safe, efficient, and cost-effective office printing solutions.