Are you looking to save money on your business’s printing and copying but don’t know where to start? There’s a better way to print, and cost recovery software solutions are here to help your organization achieve that.
While printing and copying may seem, on the surface, like an insignificant expense in the grand scheme of things, poor printing practices can actually have hugely damaging consequences for your revenue.
In fact, the average employee prints 10,000 sheets of paper per year. This adds up to an average of $725 a year for each employee. Let’s say your small to medium-sized Ontario business has 10 employees, that’s $7,250 you are losing from your bottom each year simply from making poor printing decisions.
What is cost recovery software?
Cost recovery software can help your business alleviate printing costs by giving your business unique insights into your organization’s printing trends and information on how your employees are using your printers and copiers.
Using a powerful suite of tools, reports and functionalities, cost recovery software will give your business the data it needs to see which employees are printing the most, which departments are using the most paper and what areas of your organization are spending the most on color ink.
Cost recovery software gives you informative insights into printer and copier usage that allows your business to reduce paper waste, lower printing costs, change document output process behaviour among your team and, most importantly, improve your company’s bottom line.
How will cost recovery software save your business money on printing?
With the functionalities of cost recovery software in mind, here are five key ways that this unique printing solution can help your business reduce costs, improve its bottom line, and, ultimately, become more profitable:
#1 - Control and reduce costs
Cost recovery software gives you detailed insights into which areas of your business are printing the most, what they are printing, what ink they are using and where they are wasting paper and ink. The ability to track these costs allows your business to implement practices that reduce costs within your organization.
#2 - Allocate your printing costs
With the data in hand that shows you exactly how much you are spending on printing costs and where you are spending that money, you will have the information you need to charge costs back to clients where required. You’ll have the data you need to allocate the exact amount of money each job costs for every client.
#3 - Enforce printing and copying best practices
The insights you gain from cost recovery software will give your business the ability to have total visibility and control over the printing, copying, scanning and faxing within your organization. With this information you can create a set of rules and best practices for your employees, giving them an effective workflow and cost-efficient processes that directly save your business money.
#4 - Meet your environmental targets
Setting environmental goals can improve the morale within your organization, helping to show your employees that your organization cares about the same issues that are close to them. Tracking your printing, scanning and faxing across your company will give you insights into the departments, teams or employees who are wasting paper. You can use that data to make changes around how your employees print, helping you to reduce paper waste, lower your carbon emissions and reach your environmental objectives.
#5 - Better secure your sensitive information
Here on the OT Group blog, we’ve discussed the damaging implications of cybercrime for small and medium-sized businesses in Ontario. There are a number of ways to protect your organization’s data, and cost recovery software can help in this process as well. Cost recovery software can ensure that only authorized users can print and collect sensitive documents, be configured to require print approval from managers, as well as a range of other security features that better protect your business.
Want to learn more about how cost recovery software can reduce printing costs and make your organization more profitable? Contact OT Group today. With more than 30 years in the IT industry, our team of Ontario-based experts would love to help.