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How to Drastically Reduce Costs to your Business – Printer Maintenance

In the current economic climate, many businesses are feeling the pressure of increased competition. Organisations need to stand out from the crowd, whether through their product offerings, competitive pricing or exceptional service delivery.

 

In order to stay ahead of competitors, a smooth production process is therefore vital. If a labeling machine breaks down due to a software or hardware malfunction, the whole production process can be reduced to a standstill. This is unfortunately a common problem in the increasingly technological world. Despite this, firms are too often underestimating the problems it can cause, harming their image and productivity. Downtime can be costly to any organisation, not just in terms of financial loss but also loss of time and damage to the reputation of the business.

Download our Useful Guide to Printer Maintenance

Time


As Benjamin Franklin’s famous saying goes, ‘time is money!’ Downtime can obviously slow down the production process which in turn reduces revenue. Without a plan in place to reduce downtime, the process of resolving an issue can take a considerable amount of time and can prolong the time it takes to ensure your organisation is fully operational again. Downtime may not always be completely avoidable but organisations must ensure they do everything in their power to mitigate its effects. A recent Gartner study concluded that large companies suffer, on average, 87 hours of downtime per year – a costly business!

Money


Downtime will of course reduce the amount of output a company can produce and sell. While this will reduce cash flow in the short run, it may also harm revenue in the long run if disgruntled customers move elsewhere to avoid future delays. A recent study suggested that 59% of Fortune 500 companies could lose on average $46 million per year on downtime costs!

Reputation


Perhaps the most damaging effect of downtime on a business is the damage done to a business’ reputation and the long term effect it can have on this. If an organisation experiences frequent problems with the production line, it can significantly harm customer confidence in the business. If downtime means that you cannot meet deadlines, it won’t take long for customers to become disgruntled which in turn can have an impact on prospects if they hear about this poor service.  With 70%  to 80% of market value coming from hard-to-assess, intangible assets such as brand equity, intellectual capital, and goodwill, organisations are especially vulnerable to anything that damages their reputation.

 

  • Labeling printer maintenance can provide several benefits, including increased productivity achieved through regular software updates.
  • Reduced downtime will increase productivity through higher output
  • Peace of mind that if there is a problem, it can be fixed.
  • 24/7support from phone operators for companies operating outside the UK.

 

PRISYM ID provides the above maintenance services to customers, to further enable organisations to run their labeling operations smoothly and productively in a competitive environment.