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How to slash overheads by thinking small

November 28, 2017

Epson WorkForce Pro printer

An new business blog from ItProPortal advises firms on how to reduce “precious overhead costs” by paying attention to the small things when investing in technology.

Rob Clark, Epson Europe’s Vice President of Marketing, reveals that “the latest available data from Eurostat shows that the one-year survival rate for newly created enterprises is about 80 percent, after which it drops significantly”. He explains that one of the main causes for this failure of new businesses is running out of cash, even if they started off by taking precautions and instating “a sensible budget”. Frequently, it is because of “small, unforeseen expenses”, which mount insidiously, until suddenly companies find themselves with a decimated bank balance and a woeful bottom line.

So, how can business owners ensure that these small expenses don’t build up?

Clark advises decision makers to start “by noting that the small stuff can be linked to technology choices that are made right from the beginning.” He describes Epson as “constantly working on innovations that meet our customers’ needs” as well as simultaneously focusing on “contributing positive results to our customers’ triple bottom line”.

He gives the following tips on enhancing a firm’s cost-cutting by investing in “efficient workplace technology”.

  • Watch out for recurrent costs “in the form of consumables, replacement parts and add-ons” as these can become “a hidden financial burden”. As an example, Clark cites Epson’s line of business inkjet printers, which feature cost-cutting solutions such as “high capacity ink solutions” and “reduced consumables requirement” which “significantly reduces the waste produced.”
  • Minimise “IT downtime for maintenance” as this “takes precious working time away from employees and causes frustrations that can impact morale.” Clark advises business owners to choose “solutions that minimise maintenance requirements” as this could help save a considerable amount of your company’s budget.
  • Energy consumption is another major issue which could impact a business’ bottom line. By selecting office technology that promises low energy consumption and environmental benefits, such as Epson’s WorkForce Pro RIPS printers, businesses can benefit from a significant reduction in energy consumption and receive a much healthier energy bill as a result.

With business success or failure relying ultimately on the maintenance of “a healthy bottom line”, firms need to ensure they are keeping their operational costs “under control”, as well as selecting the right partners, products and suppliers “when it comes to workplace technology”. Instituting these practices and making “the right decisions early” can all have a major impact on the overall success of your firm.

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