Selecting the appropriate multifunction device for your business involves much more than simply looking at the cost to buy or lease the machine. It's a complex decision that requires a deep dive into the hidden costs and various considerations that can significantly impact your overall investment. By thoroughly examining these factors, you can make a well-informed decision that aligns with your specific needs and budget constraints.
Here's what you’ll need to know:
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Before you even start considering the costs of a multifunction device, it's essential to understand your specific printing needs. Are you printing primarily text documents or high-quality images? Do you need color printing, or is black and white sufficient? What sizes of paper do you commonly use? Answering these questions will help you narrow down your choices and ensure you're not paying for features you don't need.
Additionally, think about the finishing options you may require. Do you need your documents to be stapled, hole-punched or folded? These features can add to the initial cost of a printer, but they can also save time and improve workflow efficiency in the long run.
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The number of pages you print monthly, commonly referred to as print volume or 'clicks,' is a crucial factor in determining the total cost of ownership. High-volume environments might benefit from a more robust, higher-capacity device, even if the upfront cost is higher. Conversely, low-volume users might find that a less expensive model meets their needs perfectly.
It's also important to consider the types of documents you print. Color printing is generally more expensive than black and white, both in terms of toner usage and wear on the machine. If your business requires a high volume of color prints, be prepared for higher ongoing costs.
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Maintenance and service are ongoing costs that can significantly impact the total cost of ownership for a multifunction device. Regular maintenance is necessary to keep the device running smoothly and to prevent costly breakdowns.
Contracting your multifunction device maintenance and service with a Managed Print provider will allow your IT staff to concentrate on more important projects and leave the printing problems to the experts. In fact, many organizations tend to save time and money when they work with a Managed Print provider, instead of piling their print fleet management onto their IT staff’s already busy workload. A win-win for everyone!
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Toner and other consumables like paper and staples are recurring expenses that contribute to the total cost of ownership. Printing in color is more costly than black/white. Consider how many of your printed pages might be in color and have a large amount of color coverage on the page. For office printers, toner-based multifunction printers tend to be more efficient than ink-based ones. It’s wise to compare the cost per page for different models to get a clearer picture of ongoing expenses.
Don’t forget to consider other supplies such as specialty paper or finishing supplies if your documents require them. These can add up over time, so it’s important to include them in your budget calculations.
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While it might be tempting to go for the cheapest option available, it's crucial to consider the long-term savings a more expensive model might offer. Higher-end devices often come with better warranties, more efficient toner usage and lower maintenance costs – which can save money over time.
Additionally, consider the potential for increased productivity and reduced downtime with a higher-quality machine. Sometimes, the initial investment can pay off in ways that aren't immediately obvious, such as improved workflow efficiency, fewer device breakdowns and higher employee satisfaction.
Balancing the upfront cost with potential long-term savings can be a complex decision to make. This includes the decision of whether to buy, lease or rent your equipment. Short-term needs lasting three months or less are often best met with rental equipment. Larger organizations with significant capital sometimes have the budgetary flexibility to buy their own multifunction devices. However, we’ve found that organizations of all sizes are increasingly enjoying the benefits of leasing.
Gordon Flesch Company (GFC) customers have the option of accessing financing and leasing options through GFC Leasing, our in-house solution that currently services more than 8,500 leases on a variety of business assets – including multifunction devices. Why lease? Because it helps conserve capital, provides a hedge against inflation and reduces your risk of equipment obsolescence. And with GFC Leasing, you’ll have your choice of flexible terms and options, as well as fixed monthly (or quarterly) payments.
Don’t let the wrong technology hold your organization back. Contact the Managed Print experts at Gordon Flesch Company to learn more about how to calculate the total cost of printer ownership. We’ll conduct a free, no-obligation needs assessment and offer suggestions on how to better align your printer fleet to your business goals.
