With coronavirus continuing to impact our economy and the way we conduct business; organizations are responding to changes in a variety of ways designed to keep business moving and bottom lines healthy.
As the crisis deepens, more businesses are focusing on ways to control costs to preserve profitability — a move that can be especially critical for organizations in the small- to medium-sized business (SMB) category.
There are two ways to manage escalating business costs — through spend management and cost reduction.
Spend management focuses on moving towards increased visibility of spend factors while reducing total spend. This strategy provides businesses control that supports critical insights.
Once criteria are measured, potential spending leaks, including operational inefficiencies, can be addressed and corrected.
Cost reduction, on the other hand, targets cost control measures that help reduce overall spend.
A smart cost control strategy includes separating costs into critical and non-essential categories, using technology to optimize cost reductions, and developing a strategic cost reduction program.
Managed services such as managed print programs directly address both strategies to foster increased impact on your budget.
The Cost Controlling Power of Managed Print
Did you know that nine out of ten companies aren’t tracking the cost of printing — a cost that can add up to a whopping 15% of total spend every year?
In part, that may be because most outdated print environments are so complex and decentralized that it becomes difficult to track departmental printing costs alongside supply and support spending.
Managed print services (MPS) offer the perfect way to gain visibility into your print spending — and help you save money so you can support critical business expansion.
Here are several ways a strong MPS program can assist your company to keep spending at a minimum:
1. Maximizing Uptime
Productivity is at a premium — especially in the current hyper-competitive marketplace. And downtime is costly, with 98% of businesses noting that just one hour of downtime costs more than $100K.
That number doesn’t even consider the cost for the time it takes your in-house IT team to correct the problem or the fact that it diverts them from performing more mission-critical tasks.
To correct this issue, MPS providers perform routine monitoring, maintenance, and upgrades to reduce — or eliminate downtime.
2. Streamlining Workflows
Unnecessary printing, logjams at overextended machines, and underutilized devices all combine to slow down workflows and reduce productivity.
Your MPS provider will optimize your fleet, reducing the number of underutilized or obsolete devices; providing training and guidance to users to minimize unnecessary printing; and support your office during the transition to a more efficient process.
3. Automating Supply Replenishment
Office supplies are a significant cost in the modern office, with consumables like ink, toner, and paper adding up to 60% of total spend.
MPS reduces overspending on stockpiled supplies while offering the assurance that the right supplies are available exactly when they are needed through intelligent automated reordering.
Perhaps the most important benefit of MPS is the one simple monthly invoice that includes everything your business needs for a highly productive, cutting-edge print environment: equipment, upgrades, maintenance, services, and supplies.
RJ Young Offers State-of-the-Art Managed Print Solutions
At RJ Young, we keep our fingers on the pulse of technology when it comes to print and imaging.
Our team of IT and print management experts have the knowledge and expertise when it comes to emerging trends that maximize results for your business.
“It all starts with a comprehensive deep dive into your current print environment as it relates to your business objectives. Our team will look for smart ways to optimize usage to keep the cost of ownership as low as possible.”Stephen McKim, RJ Young’s Managing Director of Technology Solutions
Once your system is in place, we provide ongoing monitoring to provide necessary adjustments as your business grows and changes. Maintenance, security updates, supplies, and service are included, freeing up your in-house staff to focus on keeping business on target.
Finally, we maximize uptime and increase security across your print environment to protect your sensitive data from theft and loss, providing enhanced compliance and peace of mind.
Discover the many benefits of a managed print environment. Touch base with an RJ Young consultant and leverage the cost-cutting and productivity-enhancing power of MPS for your business.