Clearing Up Print, Copy and Multifunction Device Costs
Print and copy costs are tough to nail down, even when it comes to your own company.
Most CFOs, HR representatives and department heads have no idea how much their document output affects their company’s finances and productivity.
It’s not that you don’t care about your printing costs. It’s simply that you’re unaware of the source, types and extent of document output expenses.
Your printing budget is most likely fragmented between various departmental budgets, perhaps partially managed by a combination of IT people, facilities managers and/or procurement administrators. Are your multifunction device expenses and copy costs handled by a different department than your printing costs?
Print and copy cost ambiguity is an epidemic affecting the majority of offices, in every industry, across the country. To combat it, you have to fight with awareness.
Understanding Print And Copy Costs
This means understanding that document output costs are varied and don’t stem from a simple source.
- Hard Costs: “pennies per page”
- Energy Costs: electricity and consumables
- Technical Costs: support, administration and document management
It’s not just about these “hard costs,” either. You must also prepare ahead of time for “soft costs,” such as lost capabilities, user frustration, down time and office inefficiencies. Just because they’re not direct costs — you don’t make a check out to
“user frustration,” for example — doesn’t mean they don’t affect your bottom line.
You should also consider the cost of lost documents. On average, 7% of documents are lost, costing companies about $220 to reproduce them.
Calculations And Conclusions
Using studies performed by Price Waterhouse Coopers and Gartner, you can start to pinpoint some numbers. It costs about $75 to process a document and $20 to file it. Each document gets copied, on average, 19 times. So if you produce 100 documents a day, you will have 25,000 by the end of the year. If you lose 7% of them, it will cost you $385,000 to recreate them. And these are conservative estimates.
With expert, custom-designed print management solutions and an efficient document management system, these numbers start to subside.
You can save up to 40% on your document costs by outsourcing your managed print services. Now that’s a number we like to see. To learn more about how DocuSense can help you to lower your costs and enable print management efficiency click below.