According to Forbes, one in every five businesses fails every year. While there are many potential reasons for these failures, cash flow is often a major concern. Any investment you make into your company affects its bottom line, which impacts profitability and your chances of thriving as a business.

The equipment you use in your office is one of the biggest investments you’ll make. Beyond the upfront cost of this equipment, you must consider maintenance expenses and the cost of running the equipment.

That brings us to your office printer.

Making the wrong printer choice can lead to an ongoing expense that takes a substantial bite out of your organization’s profits. Let’s explore the essential tips for choosing an office printer that keeps expenses low while providing everything your people need.

Explaining the Costs Involved With an Office Printer

Many businesses make the mistake of focusing solely on the upfront cost of buying an office printer. That’s unsurprising, as a basic printer can set you back up to $3,000. If you upgrade to a multifunction printer, you may spend between $3,000 and $16,000 upfront. Naturally, these factors impact your decision.

However, it’s also critical to consider the ongoing costs of maintaining and running your office printer. For example, you may choose a less expensive option to reduce your upfront costs. However, that saving gets swallowed up quickly if the printer requires regular maintenance. You may also find that a less expensive printer requires regular toner replacements, with this ongoing cost mounting up substantially.

On the flip side, buying the most expensive office printer available isn’t always the best option. While premium printers experience fewer maintenance issues, your business may not need everything they offer. Every feature a printer has adds to its price. If you’re not going to use many of those features, you’re wasting money by investing in the printer.

How to Select the Right Office Printer for Your Needs

There are several factors to consider when choosing the right printer for your office. You have to consider your company’s needs, how often you use paper, and what your team requires from its printer. Use these tips to select an office printer that contributes to, rather than drains, your business.

Tip 1 – Consider How You Plan to Use the Printer

Some companies only require the basics from their printer. This is especially the case for mostly-digital companies that often use email and cloud computing services to distribute documents. In these cases, opting for a costly multifunction printer may not be the best choice because you’re unlikely to use most of the printer’s features. As a result, you absorb a large upfront cost with little benefit.

However, paper-based businesses that use printing, copying, and scanning extensively will see far more benefits from a multifunction printer. For these businesses, finding an office printer that combines all three services reduces costs because they have to power fewer devices.

The point is that a printer’s feature list isn’t your priority when making your choice. Instead, consider how you’ll use the printer so you can focus on devices that serve those needs.

Tip 2 – Check Printer Speed

Again, your usage volume plays a role when checking a printer’s speed. If your office rarely uses the printer, there’s no point in buying a device that can print 70 pages per minute. While the increased speed may seem great, you’re likely paying more than needed if you’re not printing hundreds of pages per day.

Of course, a slow printer causes issues for fast-paced paper-based companies. If you need to print thousands of pages per day, having a single-digit page-per-minute printer slows your people down. Even though the printer costs less than faster alternatives, your people become less productive. Lowered productivity leads to less work getting done, which affects your bottom line.

Think about the volume of paper your people print daily. Faster printers are the best choice when you print thousands of documents, with slower printers saving money for companies that rarely print.

Tip 3 – Black and White or Color

Imagine you have a choice between two printers. They have the same specifications, except one prints in color and the other only prints in black and white (B&W). Which do you choose?

It all comes down to what your company needs.

Color printers are usually more expensive than their B&W equivalents. If you only need to print written documents, you can save money by going for the B&W option. However, color is the way to go if you print more complex documents. Investing in a color office printer can also help you save money you’d otherwise spend on third-party printing services.

Tip 4 – Understand the Differences Between Laser and Inkjet

Laser printers use static electricity to apply toner to a printed page rapidly. Inkjet printers spray a series of ink dots onto the paper, which combine to make the printed document or image. This difference in functionality impacts your choice of office printer in several ways.

First, inkjet printers cost less upfront than laser printers. While this may make them a good choice for offices that operate on a tight budget, that lower upfront cost comes with a downside. Inkjet print cartridges are costly, and you’ll often find that you spend more on these cartridges than you would on toner for a laser printer.

Speed is the second factor. Laser printers are much faster than inkjet printers. Hence, you may wish to absorb the higher upfront cost if you have high-volume print requirements.

Finally, there’s the color issue. The use of small ink dots makes inkjet printers better for printing complex colored images, such as photographs or charts. Though laser printers can also print in color, you may find the print quality lacking in comparison to inkjet.

Each type of printer has pros and cons. Weigh these points against your company’s needs to make the appropriate choice.

Find the Perfect Office Printer

Choosing the right office printer comes down to determining what your company needs so you can find a device to suit your requirements. There may be better choices than opting for the cheapest option if the ongoing costs weigh heavily in the future. But companies that have limited requirements may find that a less expensive printer provides what they need because their ongoing costs are limited.

Whatever your print needs, Copiers Etcetera can satisfy them. We’ve served clients in Mill Creek for over 30 years by providing access to copier and print solutions from some of the world’s leading brands. If you’re unsure about which office printer to buy, get in touch with our team, and we’ll provide guidance.