Managed Print Services (MPS) are catching on among a greater range of companies than ever before, and there’s a reason for that. Indeed, there are multiple reasons why businesses have decided to work with partner organisations for their printing hardware and software procurement, strategy and support needs. The benefits of Managed Print Services extend from building everyday efficiencies to safeguarding a company from risk and helping that business grow over time.
When Research and Markets surveyed the MPS market worldwide, it found companies of all sizes embracing the MPS model, powering these services to 5% growth over the 2019-2023 period. In the past, large organisations made up a far greater percentage of MPS users, but smaller companies are taking advantage of the resource-optimising power of MPS to guard their bottom lines and improve operations at the same time.
It’s always a good time for company leaders to consider applying MPS to their own workflows and seizing the related advantages. There are numerous improvements possible with these systems, and they apply in a wide range of situations, ensuring that businesses of all types – and sizes – should consider MPS.
What are the benefits of Managed Print Services?
The following are five of the main ways organisations see return on their MPS investments. These advantages are closely tied together, and while some companies will feel a particular need for some of these benefits, nearly every business will recognise the value in the following items.
1. MPS use can cut budgetary waste and increase efficiency
Companies handling printing operations on their own may be suffering from losses of efficiency without ever realising it. The truth is, there are many hidden costs inherent to printing. It’s relatively common for companies to use the wrong printers. Some organisations are using devices that are too small to handle their high-volume printing needs. Others have invested heavily in larger devices that aren’t economical for their limited printing requirements. Outdated legacy equipment can also be a drain on the budget, with toner and repair costs piling up.
Another way to receive a more efficient return on printing spending is to tune up the printing workflow with a dose of automation. Companies that are printing high volumes of documents may not actually need to be going through so much paper – a better document management approach could help them right-size their print workflow.
An MPS partner can step in to assess the state of the printing environment and ensure each office and department has a right-sized approach to its printing solutions. Since MPS is an ongoing relationship rather than a one-off event, the consultants can track expenses over time, seeing whether an organisation has changed its printing profile enough to meet its needs, or whether there is a better answer within reach.
2. MPS helps organisations maintain security
Today’s business environment is more connected than ever before. Instant communication that reaches all devices that a company operates is a massive efficiency boost – but also a security risk area. Quorica’s 2019 survey into the security of printing found connected printers, which are parts of the so-called internet of things, increase a company’s “cyber attack surface.” Organisations handling printer procurement and service internally may not have the expertise on staff to ensure the devices are being run in a manner that promotes security.
The report found most companies have a moderate level of print security. There are 17% of businesses lagging in risk-prevention maturity, 27% leading the pack and all the rest fall somewhere in between. Companies that are looking for a way to avoid the devastating financial impact of a breach should consider the fact that using MPS exposes them to expert knowledge and up-to-date technology. Something as simple as a missed firmware update can lead to an increased risk profile – from such simple matters to complex preparations, multiple security improvements come with MPS use.
3. With MPS, employees can focus on their core competencies
Companies may not have an internal employee who is an expert in managing print workflows, procuring new equipment or locking down the security of the print network. Whether leaders take on responsibility for print operations themselves or delegate this duty, the fact remains – someone in the office is putting time and effort into print management despite it not being that person’s area of expertise.
Working with an MPS provider allows the company’s own employees to spend more time performing their value-adding work, while the important matters relating to print operations go to people who can address them with maximum efficiency. Hands-on tasks such as maintenance may be especially efficient when handled by an expert – and inefficient when tackled internally.
4. An MPS contract makes it easy to keep technology up to date
Buying technology in a traditional way forces companies to pay up-front costs to get the latest and greatest printing solutions. When businesses select MPS programs that include leasing agreements within the monthly costs, they can get the exact lineup of devices they need, potentially including new features such as mobility and network connectivity, without adding capital expenditures to their budgets.
The expertise provided by MPS consulting teams can also help businesses immediately recognise which new technologies and assets make sense for their particular needs. Expenditures on necessary technology are affordable, and the businesses avoid unnecessary purchases altogether.
5. An MPS deployment scales up with the company
With accurate forecasting to determine an organisation’s needs in the future and flexible contract terms to help that business reach its potential, an MPS agreement can grow alongside an ambitious company. Today’s small and medium-sized enterprises can be tomorrow’s commercial juggernauts, especially in an era when the internet allows firms to connect with audiences around the world. Flexibility is a key feature of MPS, meaning a company won’t have to change its printing approach as it expands.
What are the next steps for achieving Managed Print Services benefits?
The road to MPS starts with a print assessment. Determining the current state of a business’s setup – from its cost structure and potential savings to the places where equipment or process improvements are warranted – sets the tone for the relationship to come. Depending on a company’s industry, size and objectives, the exact plan will differ. To find out what form MPS should take for your organisation, schedule a free print assessment today.