By Abhishek Mukherjee, Senior Market Analyst, IPDS, IDC India
Printing while being one of the most important process in any organization is also considered as a significant cost overhead.In this age of rapid digital transformation, organizations are looking at digitizing most of the paper intensive process and reducing dependency on printers. One of the solution to address this need is a suitableprint and document management solution which can facilitate their digital transformation initiatives and reduce cost burden at the same time.
With a persistent demand from the end-users, print device manufacturers and solution providers are constantly focusing on developing robust Managed Print and Document Services (MPDS) solutions. According to International Data Corporation (IDC), Managed Print and Document Services is 3rd Party management of a fleet of Printers/ MFPs through remote monitoring under a multi-year contract covering Hardware, Consumables, and Services. Clients are charged on per page basis with following key service delivery attributes –
- Detailed up-front assessment of the print fleet
- Fleet usage monitoring and reporting
- Ongoing optimization
Managed Printing and Document service contracts bring about the following advantages to the Organizations:
Benefits of Managed Print & Document Services
Printer fleet reduction
MPDS allows organizations to consolidate their printer fleet by enabling a higher ratio of employees per printer, fewer consumables, and reduced paper wastage. In many large corporations, the number of print devices are placed near each other.A detailed assessment comprising of various attributes such as Printer to Employee distance, layout size etc. enables the service provider to recommend their clients to optimize the fleet size and usage.
Improved Cost efficiency
Printer usage is one of the few unaudited and unchecked process area in organization resulting in lot of inefficiency and cost overruns through paper and consumables wastage. Through periodic assessment of the department’s printing requirements and selective/ need-based access, an organization can control its print costs and improve efficiency.
In the age of digital transformation, print security is one of the prominent cyber threat that an organization should take seriously. Many vendors nowadays arebringing devices equipped with security software suite which protects these end-point devices from internal and external threats. Key elements of device security are as follows –
- Automated detection of cybersecurity threats
- Protect the sensitive data using advanced encryption standards
- Automated monitoring and compliance reporting
- Developing a cohesive print security strategy
Continuous Remote Monitoring:
MPDS vendors’ key objective is to optimize the print fleet through constant monitoring. Analysis and continuous monitoring of Print usage through dashboards enable Organizationsnot only to keep a close control on the document printing by the employees but also curtail the wastage.Remote monitoring of Chip-based devices and firmware allow tracking of the consumable levels from a central location.
Reduce Environmental Impact
MPDS is also a big leap towards reducing an organization’s carbon footprint. There are mainly three distinct ways this solution enables companies to “Go Green” –
- Installation and usage of a limited number of energy efficient machines
- Usage of Original consumables controls particle emission
- Optimizing the paper usage and usage of recycled papers by many Device manufacturers.
Enterprise Content Management
MPDShas enabled abridging the paper-to-digital gap owing to its capturing and routing feature capabilities which integrate the content with the other enterprise systems. The Capturing solution can enable extraction of the information from the documents through Image/ Character recognition software as well – a leap forward to DX.
According to IDC FutureScape, Worldwide Imaging, Printing, and Document Solutions 2018 Predictions(Document Number # US43152617), 45% of All Office Print Devices Shipments Worldwide will be sold as Part of a “Print-as-a-Service” Contract.As per IDC Worldwide MPDS and Basic Print Services forecast Update, 2017-2021,Asia Pacific (Excluding Japan) region will have the highest CAGR from 2016 to 2021 driven by India and China.The growth momentum of MPDS will gradually be shifting from Large enterprises to Mid-size companies with a CAGR of 18.6% in Lower mid-size firms (100 to 499 employee size) and 9.2% in Upper mid-size firms (500 to 999 employee size)as they are very keen in reducing the printing cost. Hence, the Vendors must shift their focus from Large Accounts and Local/ Regional fulfillments to catering to the needs of these Small and Mid-sized businesses (SMBs).
Beyond the cost optimization, MPDS is a strategic IT initiative that cultivates value out of print and continuously improves the enterprise’s workflow management.