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Cost Recovery for Your Medium-Sized Business

While no two medium-sized businesses are the same, one thing they all have in common is that they
can’t afford to misspend their budgets. This is especially true in industries where competition is high. A
single bad investment or ill-conceived expenditure could have a costly ripple effect.

This is also why cost recovery has become such an important priority among medium-sized businesses.
Ideally, they want to make up for their spending as effectively as possible.

Although this is often much easier said than done, there are actually a number of ways companies can
efficiently realize ROIs or otherwise recover costs from major investments. In fact, many of these
opportunities are waiting for them right in the office, provided they leverage the right business
technology.

3 Important Cost Recovery Steps Every Medium-Sized Business Should
Take

Understanding how to create an effective budget is something every medium-sized business needs to
learn how to do. However, if that budget isn’t properly protected, it won’t matter how carefully created
it was.

That’s why so many medium-sized businesses have turned to business technology to help with their
cost-recovery efforts. Here are three of the simplest ways to put these solutions to work.

1. Printing Apps Keep This Common Task Under Budget

Printing is such a common activity in most offices that it can be easy to take it for granted.
Unfortunately, this means that far too often printing-related expenses and waste spiral out of control.
When that happens, ink, toner, and paper costs quickly start taking up more and more room in a
company’s budget.

As multifunction printers have found greater popularity in medium-sized businesses, it has become vital
for these companies to monitor who is using them and how often.

That’s why they’ve begun turning to printing apps like PaperCut and Xerox PrintSafe.
Among other things, these apps can help:

  • Initiate rules-based printing
  • Limit unnecessary output
  • Offer mobile printing
  • Que documents until credentials are provided
  • Secure essential data
  • Track staff printing and costs

All of these features allow businesses to not just monitor and manage their offices’ printing habits but
also turn this information into easily-accessible reports. These give management a bird’s eye view of
what kind of printing is occurring within their offices, so they can take effective measures to change
these habits if necessary.

While there a number of ways to reduce printing-related waste, one of the easiest for recovering costs is
simply through the use of printing apps.

2. Workflow Apps That Manage the Productivity of an Office

Document workflow is a bit of an umbrella term, but most understand it to mean the ways in which
software and technology is used to support an office’s regular work requirements.

Medium-sized companies that optimize their workflows are best able to recover costs because they
actively defend against unnecessary expenditures. Efficient workflows also increase the amount of work
that can be done, shortening the timeline for a positive ROI.

Technology designed to help improve office workflows include a large number of apps that can support:

  • Application Scanning
  • Color Management
  • Document Management
  • Mobile Printing
  • Pre-Press Automation
  • Variable Data
  • Web-to-Print

One of the best ways to secure these kinds of benefits and many others is through the Xerox
ConnectKey. This powerful technology can be used with any Xerox printer or multifunction printer and
connect these devices with many other in a medium-sized business’ office.

Its Virtual Assistant, alone, can improve workflows for greater cost recovery. It combines Xerox printers
with the company’s impressive app library, allowing companies to mix-and-match the applications they
need to create an optimized workflow.

3. Print Tracking Software and Optimizing Printing Costs

Finally, print-tracking software like the apps we’ve touched on above are some of the most important
forms of business technology for modern offices. Still, they are only effective if they can be used for
cost-recovery purposes.

By far, the easiest way to do this is with managed print services. Instead of pouring over reports every
single month, medium-sized businesses can just outsource the work to a team of professionals who can
handle this kind of remote monitoring on their behalf. Then, each month, they’ll show the client where
the company is spending money unnecessarily and where other opportunities exist to save money. They
can even order supplies on the business’ behalf and provide repair services, so medium-sized companies
are never without the printing services they need.

Start Using the Right Business Technology to Recover Costs at Your
Company

A lot of cost recovery comes down to understanding where your spending is happening and then finding
opportunities to hasten the ROI on those expenditures. However, in most cases, medium-sized
companies will find that the vast majority of those companies occur around their printing and the
workflows that support it.

If you’d like to invest in the kind of business technology that is proven to help with print- and
workflow-related cost recovery, contact us today to learn more about what all of your options are.