Don’t forget the small stuff when it comes to technology and your bottom line

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Rob Clark is the Marketing VP for Epson Europe, as well as being responsible for the Japanese firms’ consumer inkjet products business unit. In this blog, the first of a four-part series, he explains how firms can save precious overhead costs by focusing on the small things when it comes to investing in new technology.

Did you know that one third of newly created firms in Europe don’t make it to their second birthday? In fact, the latest available data from Eurostat shows that the one-year survival rate for newly created enterprises is about 80 per cent, after which it drops significantly, and after five-years is as low as 44 per cent. Read any article on the leading causes of small business failure and the same reason appears time and time again – they fail because they run out of cash. They may have started with a sensible budget and forecast of expenses, but often it’s the small, unforeseen expenses that continue to add up, until they are no longer manageable. So in a world where companies are expected to achieve not only a healthy balance sheet, but a balanced triple bottom line, how can business decision makers ensure that the small stuff isn’t forgotten?

As more and more businesses ‘go digital’, you should start by noting that the small stuff can be linked to technology choices that are made right from the beginning. As a global technology company, Epson is constantly working on new innovations that meet our customers’ needs – which means keeping their bottom line in check. But whether they are aware of this or not, we are also focussed on contributing positive results to our customers’ triple bottom line, because we don’t believe that anyone should have to compromise on any of the three areas. In fact, our Japanese heritage and philosophy of ‘Monozukuri’ (the art and science of making things) is applied in everything we do and every product we create. That means, when it comes to efficient workplace technology, we know a thing or two about how it can affect the bottom line. So here are some of our top tips on saving where it matters most:

·         Recurrent costs in the form of consumables, replacement parts and add-ons can become a hidden financial burden when it comes to technology. Whether it is ink cartridges, replacement batteries, or lamps for projectors, ensuring that the solutions you choose are the right ones to serve you financially in the long term is key. To address such issues, Epson has developed business inkjet printers that utilise high capacity ink solutions, such as Replaceable Ink Pack Solutions (RIPS). These products are able to print thousands of pages without needing a consumables change. What’s more, their reduced consumables requirement significantly reduces the waste produced. In fact, Epson inkjets can reduce waste by up to 99 per cent compared to comparable laser products – a reduction that can be significant to businesses over time both in terms of ecology and cost. 

·         IT downtime for maintenance can be more than just a hassle. It takes precious working time away from employees and causes frustrations that can impact morale. But such frustration and the resulting impact on productivity can be mitigated with the right choice of technology. By choosing solutions that minimise maintenance requirements - such as Epson business inkjet RIPS products, and projectors with long lamp lives, for example - you can significantly reduce the impact of downtime. Or think about it this way: if you could choose a printing technology that could reduce maintenance and interventions by up to 98 per cent compared to other products on the market (such as Epson WorkForce Pro RIPS inkjet versus competitive laser printers) – which would you choose? You’d choose the one that translates best when it comes to the bottom line. On a larger scale, that means that by switching to this printing technology a business could save up to 4.5 working days a year. Financially that would be an average saving of €4.6 million a month for businesses across Western Europe

·         Energy consumption can become a big issue if it is not kept under control. One of our customers, a German hospital waste management company, chose to implement Epson’s WorkForce Pro RIPS printers for its environmental benefits – as a result, they achieved their environmental goals, but were also pleasantly surprised by the 80 per cent reduction in energy consumption, which was reflected in their energy bill.

Businesses of all sizes are challenged with keeping their operational costs under control, to keep their bottom line out of the red – and choosing the right partners, suppliers and products when it comes to workplace technology is no different from any other business consideration. Business success or failure ultimately relies on maintaining a healthy bottom line – but there’s no need to forego the other two elements of the triple bottom line. All told, Epson inkjet printers are just one good choice in a host of other business technology choices to make; but the point is to make the right decisions early, so you don’t end up paying later – to the detriment of overall business success.

Robert Clark, vice president of marketing, Epson Europe
Image source: Shutterstock/everything possible