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.
* * *
$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.
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.