Small businesses have always had to focus on cultivating financial resilience to stay competitive. Now, the economic landscape has shifted again as the COVID-19 pandemic has forced small businesses to look for new ways to conserve cash.
One thing is certain, with some areas seeing small businesses closing at a rate of over 55%, the need to act fast is critical. To be safe, most businesses need to keep enough cash on hand to cover operating expenses for at least three to six months — no easy task if your business is already cash-strapped.
However, there are a variety of ways small businesses can streamline workflows that will not only cut costs, but also increase long-term productivity — the kind that drives revenue.
In fact, investing in managed print services (MPS) can help optimize your printer fleet to reduce inefficient legacy machines, optimize your print environment, reduce your reliance on paper, and help your team get more done in less time.
3 Important Ways MPS Can Transform Your Workspace and Save You Money
MPS isn’t just about print. It’s about transforming your workplace to control costs while providing state-of-the-art tools and technology to your staff to boost performance and productivity.
In that way, MPS provides a powerful strategy for small businesses to gain a competitive edge, even in uncertain times. Here are three important ways adopting an MPS program can have a profound and lasting effect on the strength of your business.
Reduces Reliance on Inefficient Legacy Technology
Organizations that don’t address outdated devices not only run the risk of exposing sensitive data to damaging security breaches, they are vulnerable to increased machine downtime that impacts productivity and amplifies staff frustration.
Add to that the need for in-house IT staff attention, and you have the perfect storm of costs centered around a lagging print environment.
An MPS assessment and analysis can optimize outdated infrastructure to align it with your current business needs and goals. This provides a way to streamline business processes and workflows to maximize your office’s efficiency and reduce the amount of downtime experienced by staff.
It also frees up your in-house IT team to focus on more mission-critical tasks — or removes the need to have an IT presence in-house.
Provides a System for Cost Consolidation and Management
MPS not only reduces overall spending through optimization, but it helps create a system of manageable, predictable expenses. After analyzing and assessing your current environment, your MPS provider will provide a plan that includes future upgrades so you can accurately track month-to-month spending.
With MPS, capital expenditures are conserved as supplies are auto-replenished rather than stockpiled. Auto-replenishment helps reduce wasted supplies, takes advantage of volume discounts where applicable, and reduces supply-related downtimes.
Dramatic Decreases in Residual Costs
It’s not unusual to save 20-30% in overall costs using an MPS program. Streamlining infrastructure can result in hardware cost reductions of anywhere from 25-60% and there is a 10-15% reduction in paper waste through the use of pull printing.
But there are several hidden areas that benefit from MPS’ cost-cutting ability. For example, the routine maintenance and management inherent in an MPS program can result in a 7-14% reduction in print-related IT interventions, and MPS users can realize a 30% reduction in energy consumption by adopting newer, more efficient technologies.
And, when products are upgraded at the end of their lifecycle, even toner consumption can be improved by as much as 20%. Procurement is simplified through auto-replenishment strategies, and real estate needs are simplified as less storage is required for stocking supplies or providing footprint space for underutilized machines.
Let Verity Group Help Your Business Leverage the Power of MPS
At Verity Group, our team of MPS professionals understands the needs and challenges of today’s small- and medium-sized businesses (SMBs) and we are dedicated to assisting our clients in managing their print environments to control costs while pursuing excellence.
Beginning with an in-depth assessment of your current environment, our team will systematically conduct an analysis and redesign of your print infrastructure to maximize efficiency and reduce both hard — and hidden — costs as much as possible.
Then, we’ll provide a simple-to-follow evolving plan to keep your print and imaging needs on target — and within budget.
Are you ready to maximize savings and productivity to transform your business processes and become more competitive? Contact Verity Grouptoday to learn how MPS can give you an edge in today’s business environment.