How Managed Print Services Save Your Business Money
In today’s business landscape, characterized by economic uncertainty and the ever-present need to cut costs, finding innovative ways to streamline operations has become paramount. One often overlooked area is print management. Managed print services (MPS) have emerged as a powerful solution for businesses looking to optimize their printing infrastructure while reducing costs.
Are Managed Print Services Worth It?
In a world where every penny counts, it’s natural to wonder if investing in managed print services (MPS) is worth it. The answer lies in the unique needs and circumstances of your organization. If your business relies on printing, MPS can be a game-changer. It streamlines operations, reduces costs, and frees up valuable time for your employees. MPS is particularly valuable for businesses seeking predictability in their printing expenses, access to the latest technology, and a proactive approach to maintenance. Ultimately, the value of MPS is not just in saving money, but in enhancing your overall print management.
The Cost of Printing: 6 Components
Before diving into the ways MPS can save your business money, it’s crucial to understand the underlying costs associated with printing. Printing might seem mundane, but it can be surprisingly expensive. Printing costs encompass more than just paper and ink; they include hardware, maintenance, supplies, and even time spent managing print-related issues. Let’s break down these components:
- Hardware Costs: Purchasing and maintaining printers, copiers, and multifunction devices can be a significant upfront expense. Moreover, these devices require ongoing maintenance and updates.
- Consumables: Beyond hardware, there are ongoing costs associated with consumables like ink and toner cartridges. These expenses can add up quickly, particularly in large organizations with high printing volumes.
- Maintenance and Repairs: Printers are prone to breakdowns and malfunctions, leading to costly repairs. Regular maintenance is essential to prevent these issues, but it comes with its own set of costs.
- Paper Costs: While digitalization is on the rise, businesses still rely on paper for many processes. The expense of paper and related items like envelopes and labels contribute to the overall printing cost.
- Energy Consumption: Printers and copiers consume energy, which can account for a significant portion of your utility bills.
- Employee Time: Often overlooked, the time employees spend troubleshooting printing issues, ordering supplies, and managing print-related tasks can have a substantial financial impact.
Cost Savings With Managed Print Services
Now that we’ve identified these cost components, let’s explore how MPS can save your business money in each area.
- Hardware Efficiency: MPS providers analyze your printing needs and help you optimize your hardware. This means you can eliminate underused or outdated devices, reducing upfront hardware costs and ongoing maintenance expenses.
- Consumables Management: MPS providers monitor your ink and toner levels and automatically ship replacements when needed. This ensures you don’t overstock or run out of supplies, preventing emergency purchases and reducing overall expenses.
- Maintenance and Repairs: With MPS, maintenance and repairs are typically included in the service package. This means no unexpected repair bills, and your devices are kept in peak condition to reduce the likelihood of costly breakdowns.
- Paper Reduction: MPS encourages businesses to adopt more efficient and sustainable printing practices. This often includes strategies like duplex printing (printing on both sides of the paper), which reduces paper consumption. Electronic document management systems also minimize the need for physical paper altogether.
- Energy Efficiency: Modern MPS devices are designed with energy-saving features in mind. They go into power-saving modes when not in use, reducing energy consumption and saving on utility costs.
- Employee Productivity: By outsourcing print management to MPS providers, your employees can focus on core tasks rather than printing issues. This improves overall productivity and saves labor costs.
By now, you should know just how valuable managed print services can be to your business. Take a step further and create an MSP implementation plan with this blog.
The Benefits of Leasing With Managed Print Services
In addition to the immediate cost savings associated with MPS, leasing your printing equipment can be a smart financial move. Here’s why:
Predictable Costs
Leasing allows you to spread the cost of your printing equipment over a fixed period, usually several years. This predictable monthly expense makes it easier to manage your finances, even during uncertain economic times.
Avoiding Obsolescence
Technology evolves rapidly, and printing equipment can quickly become outdated. Leasing gives you access to the latest, most efficient devices without the hassle and cost of purchasing new equipment outright.
Reduced Risk
When you lease, you transfer the risk of unexpected repair costs and equipment obsolescence to the leasing company. This means you won’t be hit with a hefty repair bill or forced to replace expensive equipment.
Tax Benefits
Leasing your equipment may provide tax benefits, such as deducting lease payments as a business expense. Consult with a financial advisor to fully understand the tax advantages in your specific situation.
SOS: Your Go-To Source for Quality Managed Print Services
At SOS, we take pride in being the industry’s premier managed print service provider. Our commitment to delivering cost-effective solutions, cutting-edge technology, and unmatched customer support sets us apart. With SOS, your business gains a trusted partner that optimizes your print infrastructure and drives success. Reach out to our team of experts to build a relationship today.
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