All businesses – no matter your size or the industry you’re in – benefit from tech innovation. However, some technologies are best suited to particular sectors. Especially in the short term, these specific sectors see the best results.

This is especially true when it comes to managed services – particularly ones that handle expensive hardware like printers. Managed print services (MPS) help reduce waste, control spending, and lower the cost barrier to excellent equipment in industries where margins are tight.

But while managed print services can help you and your business no matter what industry you’re in, if you’re in one of these three sectors, you stand to gain a sizable advantage over your competitors.

1. Thrive in the education industry with printers that support you and your students

Campuses all over the world print thousands of articles and pieces of coursework every single day. All that printing costs the education industry millions of dollars a year.

To handle all the printing, most of these centers of education have built their homebrew version of a managed print service out of sheer necessity. But these DIY printing solutions are often inefficient, suffering from the same problems as any other program that hasn’t been purpose-built. Let’s take a look at why that is.

Printing departments are usually run onsite by campus staff. While this sounds like a great idea, in theory, it means that support is close on hand to quickly fix any service interruption. The problem with this is that – if you have a dedicated printer support team – instead of paying to fix a fault when it happens, you’re paying for someone to wait for a problem to occur, increasing costs. And if managing the printers falls on the administration staff or the IT department, then you’re stretching your resources thin, leading to service disruptions and delays due to lack of staffing.

Managed print services remove the burden of maintenance from the campus staff and ensure resources are used in the most efficient ways possible. MPSs are also built from the ground up, so there are fewer unnecessary redundancies inherent in an unplanned service, which helps keep costs down.

2. Support your team inside the healthcare industry

Printing in healthcare faces a unique problem. How do you make printers available to multiple departments while keeping individual patient records confidential? Whether it’s billing, record transfers, or making copies of patient files, printing in this industry is a necessity. However, having individual printers for every workstation so you can monitor access can end up being incredibly costly. Despite a push toward paperless hospitals, operational costs for essential services can run into the millions.

Managed print services are perfect for the healthcare industry because they solve both of these challenges in very intuitive ways. MPS helps increase security and maintain patient confidentiality by managing data offsite on secure servers. You can set up your printers, so they ask for a secure code to print out the document, making it easier to avoid errors.

Using an MPS can also help you lower costs. Most services offer a print assessment that examines how staff currently use the system. The evaluation analyzes high traffic areas and puts assets to work where they’re needed. With hospitals and the healthcare industry leading the charge in the use of equipment as a service, managed print services are incredibly well-positioned to add value to practices of any size.

3. Use managed print services in the financial services industry

If there is one thing that everyone knows about the finance industry, it’s that paperwork is at the heart of every transaction. Even with E-sign becoming standard in finance, it’s pretty hard to conduct the most basic operations without physically printing a document or form.

Just as with healthcare, there is a significant element of confidentiality to consider when it comes to printing in this industry. Failure to control consumer data securely can lead to industry fines and create a lack of confidence for potential clients. All this means that – if not managed properly – printers can be a potential landmine in this industry.

The bottom line has to be considered in any industry but especially where finance is concerned. That’s why managed print services are a perfect fit for this sector. Overprinting can be a costly problem for any business. The cost of printing multi-page documents – partly thanks to the lengthy disclosure forms – quickly adds up.

MPSs that provide a print audit will benefit this industry immensely, particularly when integrated alongside a good employee education program. Proper implementation can help staff make fiscally and security-conscious decisions that can reduce overheads and liability.

What about my industry?

Managed print services let you create a custom printing solution that works for your team while giving you access to top-tier hardware. That’s why this type of service is quickly becoming the standard for business in multiple industries. Unlike leasing, MPS provides flexible printing solutions that grow with your needs. If your team needs to print a lot more than usual in the next quarter, your MPS provider can simply help get the printers you need.

Not sure if a managed print service is right for your industry, company size, or situation?

Ask a professional.