Are you in the process of planning your annual office budget? It's crucial not to underestimate the impact that printer and copier costs can have on your overall financial goals. Many office administrators mistakenly assume that these expenses must be minor. However, the reality is that multi-functional printer fleet costs can quickly add up and affect your bottom line if not carefully managed.
To ensure that your budget remains balanced and efficient, it's important to take a closer look into the key factors that influence these costs. By better understanding these elements, you’ll be able to implement strategies that will keep your expenses in check and avoid any unexpected financial strain on your office administration budget.
Here’s five key factors to consider when planning your office’s printing and copying budget:
With these cost factors at the top of your mind, you’ll be able to plan a more precise budget for your printing (and copying) costs.
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Before you can effectively budget for your printer and copier needs, it's essential to understand your current and projected printing volume. For instance, is your organization printing hundreds or thousands of pages a month? Identifying these numbers will help you estimate your consumable needs and equipment wear and tear.
Conducting a print audit can give you a clear picture of your usage patterns. This information will help you to decide if you need more or fewer printers, which will directly impact your budget.
Consumables such as ink, toner and paper are recurring expenses that can add up quickly. Different printers and copiers have varying levels of efficiency, which affects how often you need to replace these items.
It's also worth considering the type of documents you print. Color prints are generally more expensive to produce than black-and-white prints. Opting for high-yield cartridges or bulk purchasing paper can lead to significant savings over the year.
Regular maintenance is crucial for keeping your printers and copiers in good working condition. However, these expenses can be unpredictable and sometimes costly. Be sure to carefully read through your Managed Print contract to determined how this is addressed. Also, keep a record of which devices have needed repair. If downtime gets to be too much, it might be time to consider investing in new equipment.
One of the significant decisions you'll need to make is whether to lease or purchase your office equipment. Leasing can provide flexibility and lower upfront costs.
In fact, many organizations have found leasing to be a cost-effective way to obtain a newer and more efficient printer fleet, have steady monthly payments for predictable budgeting and (as an extra bonus) allows your business to enjoy long-term ROI.
However, not all printer leasing companies are alike. When obtaining Managed Print quotes, it’s a great idea to really study each vendor’s proposal. The details may be wildly different and therefore can produce different results.
For example, many Managed Print providers use a third-party vendor for leasing and financing services. This creates more paperwork and hassle for customers. And it’s possible that a financing contract could be bought and sold to other lenders over time.
Instead, you can avoid the hassle by working with Troyka-TC (GFC). We offer award-winning business technology such as printers and copiers that can be leased through GFC Leasing, our own in-house leasing firm. In addition, GFC Leasing can structure leases to best fit your needs. This includes, but is not limited to lease terms, lease length and flexible lease purchase options at the end of the contract.
Overall, we encourage you to analyze your budget and business needs to decide whether leasing or purchasing best aligns with your financial goals.
Energy consumption is often an overlooked factor in budgeting for printers and copiers. Energy-efficient models save power when not in use. This is sometimes noted by the terms sleep mode or auto off. Some printer and copier models also have the ability to schedule a timeframe when the device will be programmed to enter sleep mode or turn off.
In many offices, this is scheduled to occur overnight or during weekends. These features save energy and also help to reduce your operational costs, while extending the lifespan of the device by minimizing wear and tear. Overall, energy saving features on your office equipment may add a little to the upfront cost, but in the end, they can lead to substantial savings for your business.
In addition, consider the environmental impact of your printing practices. Using eco-friendly products and implementing recycling programs for cartridges and paper can not only reduce costs but also enhance your company's sustainability efforts.
Contact the experts at Troyka-TC for your free, no-obligation business technology needs assessment. You’ll have peace-of-mind in knowing that a leading Managed Print Services provider is on your side every step of the way, helping you to streamline processes and save money during your next budget cycle.
