$23bn Is Wasted On Printing Each Year: Here’s How To Slash Your Wastage

Two of the focuses of my blog are Financial Literacy/Money and Business/Entrepreneurship. Most organizations or companies use some form of printing and much of what’s printed ends up getting wasted. Slashing this wastage can save dollars and likewise increase your business’s bottom line. The following contributed post is entitled, $23bn Is Wasted On Printing Each Year: Here’s How To Slash Your Wastage.

* * *

Pixabay – CC0 Licence

$23 is a vast number. 1% of the figure would be enough to keep the doors of your business open for a couple of years. What’s shocking is that this amount of money is wasted annually. Even worse is the fact that it comes from a single source – printing. No wonder companies are trying to go paperless! Of course, completely eradicating the need for a printer takes time and costs money, resources that you might not have currently. If you are wondering how to slash your wastage and not fall into the unnecessary-paper-wastage-bracket, there is good news because you do have options.

Here they are.

Invest In Managed Services

If you’re trying to anticipate how to move forward, the best answer is to invest in managed printing solutions. On http://www.cdsla.com/solutions/managed-print-services/, there is a figure that states up to 3% of a company’s budget is spent on paper. Https://www.imageoneway.com/ goes one step further and says that managed services can reduce expenses by 30%. Okay, these figures are averaged out, and the amount you spend or save might not be as high. Still, a 30% reduction is a massive amount, regardless of your budget. It’s a no-brainer, especially when the money will help the business grow and strengthen.

Lease Your Hardware

A printer is so accessible today that it makes no sense to spend cash on hiring one. On the face of things, it appears more expensive and a more frivolous waste of company resources. However, delve deeper, and you’ll find the problems that add to the huge amounts spent on printing. From maintenance issues to inefficiency, old hardware is extremely costly. Therefore, leasing a new model will slash the fees involved in printing as it will break down less and won’t require as much repairing.

Pixabay – CC0 Licence

Forget Color

Documents with color are attractive and stand out better than black and white ones. As a result, it’s tempting to use colored ink for everything that you print out in the office. Sadly, there are no real benefits to using this type of ink. Yes, it is good-looking, but the amount it costs to buy should restrict the need to create beautiful documents. https://www.npr.org/ points out that printer ink is as expensive as bubbly at $4,731 per gallon. Black and white printing facilities are as effective and far cheaper, which is why it’s worth going back in time.

Apply Basic Settings

Would you let employees loose on a company car without going over the rules first? Nope. So, why do you allow workers to mess around with the settings on the printer? As you now know, they have the potential to cost the business a considerable sum. With that in mind, it’s wise to set up the printer and restrict access. By using this method, you can encourage colleagues to use digital folders to send copies rather than using hard copies.

How much do you spend on unnecessary printing annually? If you’re unsure, it could be time to investigate.

Author: anwaryusef

Anwar Y. Dunbar is a Regulatory Scientist. Being a naturally curious person, he is also a student of all things. He earned his Ph.D. in Pharmacology from the University of Michigan and his Bachelor’s Degree in General Biology from Johnson C. Smith University (JCSU). Prior to starting the Big Words Blog Site, Anwar published and contributed to numerous research articles in competitive scientific journals reporting on his research from graduate school and postdoctoral years. After falling in love with writing, he contributed to the now defunct Examiner.com, and the Edvocate where he regularly wrote about: Education-related stories/topics, Science, Technology, Engineering and Mathematics (STEM), Financial Literacy; as well as conducted interviews with notable individuals such as actor and author Hill Harper. Having many influences, one of his most notable heroes is author, intellectual and speaker, Malcolm Gladwell, author of books including Outliers and David and Goliath. Anwar has his hands in many, many activities. In addition to writing, Anwar actively mentors youth, works to spread awareness of STEM careers, serves on the Board of Directors of the Friends of the David M. Brown Arlington Planetarium, serves as Treasurer for the JCSU Washington, DC Alumni Chapter, and is active in the Dave Ramsey Financial Peace Ministry at the Alfred Street Baptist Church. He also tutors in the subjects of biology, chemistry and physics. Along with his multi-talented older brother Amahl Dunbar (designer of the Big Words logos, inventor and a plethora of other things), Anwar is a “Fanboy” and really enjoys Science-Fiction and Superhero movies including but not restricted to Captain America Civil War, Batman vs. Superman: Dawn of Justice, and Prometheus. He is a proud native of Buffalo, NY.