Meridian Blog

Managed Print Services: Future outlook and trends

by Todd Stanton - August 8, 2017, updated on December 23, 2019 - MPS

Managed Print Services: Future outlook and trends

Companies today are dealing with more information than ever before, so taking the opportunity to outsource and streamline processes wherever possible is beneficial. One of those key business areas organizations are increasingly looking to third parties for assistance with is managed printed services.

According to Transparency Market Research, by the end of this year, the valuation of the global managed print services market is forecast to reach $31.5 billion - and as much as $95 billion by 2024.

1. Security a growing concern

Most organizations are now aware of the increased concern regarding cyber attacks and digital disruptions. No device is immune from the threat of infiltration, including peripherals like printers.

However, although many companies understand the prominent risk of unsecured devices, what they are still in the dark about is how to go about safeguarding them – another reason managed print services are becoming more prevalent. Managed print services providers are well-versed in this threat and can, therefore, help select and implement the appropriate measures to help secure the print infrastructure in your organization. 

Related: An Overlooked Threat to Network Security: Don't forget about your printers

2. More opportunities to reduce costs

"Outsourcing print management can save companies much as 30 percent each year."

One of the biggest reasons why businesses are — and will continue — leveraging managed print services is because of the significant cost savings it can produce. In fact, according to BizTech Magazine, partially or fully outsourcing print management jobs can save an organization as much as 30 percent a year.

There are plenty of ways MPS can help organizations save big, including:

  • process improvements
  • productivity spikes
  • increased device performance and up-time
  • re-allocation of employee time previously spent managing or trying to fix print devices
  • reduction or elimination of equipment and expenses related to paper, ink and repairs

Related: 4 Ways DC-Businesses Can Save Money Through Managed Print Services

3. IT simplification

In a world that is becoming increasingly digitized, the rapid proliferation of electronic and digital devices is making IT management incredibly complex. To ensure the highest level of security and performance is maintained, it is important for businesses to have experts that can monitor printers, copiers and related equipment — and make the necessary upgrades and repairs when necessary.

You may also be interested in: How to Take Stress Off Your IT Department: Go hybrid

When using managed print services, this task isn't a burden on corporate executives, managers, or in-house IT resources, enabling them to focus on more important technology initiatives. Instead, the print management function is handled by people who are most skilled and experienced in it. In fact, great MPS providers can often even prevent many common printer and copier issues altogether, through a proactive service approach.

Considering the wide range of benefits that can be gleaned from partnering with a MPS provider, there is no reason why companies shouldn't incorporate it into their business model as soon as possible. To learn more, give Meridian a call today!

Download this Free DIY Print Assessment Template to help you document output devices on a map, measure actual usage of each device and calculate TCO.

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