Print costs are often the most overlooked expenses in business, especially since these costs are typically allocated in multiple budgets and departments. Not having a clear understanding of your total print spend results in unmanaged print spending which can negatively impact your bottom line.
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- How much are you spending?
- Unmanaged print expenses can cost 1%-3% of a company’s total revenue.
- And yet...
- Studies show that 90% of companies do not track their total printing costs.
- So, what can you do?
- Companies could save 10%-30% on their printing costs if they effectively managed their print environment.
- Understand all expenses that affect print costs
- For an accurate snapshot of your total print costs, all of the following must be included in your calculation:
- Equipment: Cost of acquisition – purchase price, lease, or cost per page agreement
- Fix Rates: Employee time spent to fix equipment, order supplies, schedule maintenance, etc.
- Supplies: Reoccurring expense that includes: toner, paper, and other print related supplies
- Service: Monthly service agreements or one-time maintenance charges
- Lifecycle: Device depreciation, plus the availability of new technology
- Calculate your cost-per-print
- Calculating this will provide a snapshot of how much it costs you to print on each device.
- Analyze the results
- By collecting all print-related cost data, you’ll have a general understanding of how much your company spends on printing – on a daily, weekly, monthly, or annual basis.
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Calculating your print costs will help you have a better understanding of how much your print
environment is costing your business. By exposing your printing costs, you can begin working towards a plan to reduce overall printing spend and a healthier bottom line.
Interested in reducing print costs? Let our experts help. Contact us today at 888.698.0763.