In good economic times, companies often take their eye off the ball when it comes to cutting their print costs. But when times get tougher and revenue goes downhill, many organizations scramble to find ways to cut cost to maintain profits.
On average, research suggests the costs associated with documents in a business account for 6 percent of annual revenues. Yet 74 percent of organizations have not measured the financial cost of resources like paper or storage associated with their document workflows – not to mention all of the unseen costs to a business associated with poor process, duplication of effort or lost productive time.
These hidden, and often unnecessary costs can go by unnoticed and badly managed, impacting your business” profitability. Below are three great tips:
Did you know that the cost of filing, searching, scanning and retrieval of documents amounts to over $7000 per employee per year? Streamlining and automating document processes can save your organization a lot of time, and money. Magnum can improve the way you create, review, authorize and locate documents in your organization. Automating common workflows within your organization will not only increase the speed at which tasks can be completed, but also minimize the risk of error by reducing the number of steps in the process – and when work is done faster and more accurately, it’s easy to see the cost reductions that can be achieved.
Research suggests that up to 20 percent of print outs are never collected, and up to 40 percent are disposed of less than 48 hours after being printed – while this figure is shocking, it also represents an opportunity to quickly reduce wastage with minimal business impact. Implementing a print release solution means documents are only printed when the user releases from the multifunction device, using a swipe card or entering a code at the device. Xerox’s latest range of multifunction devices make the benefits of print release technology easier than ever to deploy, with technology resident in the device meaning there is no need for additional terminals, software or servers.
COST RECOVERY SOLUTIONS
In years gone by, the costs of office printing were frequently borne by the IT department alone and reported as a consolidated cost of doing business, without the visibility of who was printing what. With print–release technology, users authenticate at the device when collecting their print job, creating a trail of activity that allows you to disburse and control print costs at a user, department or cost center level.
Depending on the functionality required, Magnum has a range of cost recovery solutions that can be tailored to meet the needs of your business.This means you can easily view, monitor and forecast print–associated costs and attribute them back to the relevant department, or assign them to a specific customer or job – critical for organizations with a need to on–charge costs to their end customer, like the legal or professional services field. The flexibility of the solutions also means that the swipe card used to release the job from device can either “count up” and tally costs for jobs along the way, or “count down” and only allow release of jobs that fall under pre–paid or pre–set amounts – perfect for environments such as schools, where different rules for students and teachers apply.