Believe it or not but a company’s tech stack determines how successful it is or will be in the future. Holding on to outdated or ineffective corporate software and hardware can have serious consequences when it comes to technology in the printing industry.
Older technologies are not enough to help your printing business stand out of the crowd. As printing industry is being upended by massive digital transformation and changing customer expectations, it is essential to use a technology stack that helps you gain edge over your competitors.
However, it is not easy as it sounds to update your regular technology as it requires a lot of efforts and resources.
But it is super important!
So, here we will outline all the reasons that will help you consider this re-evaluation and take your printing business to greater heights.
1. You Operate on Price
Due to the rise of online print shops, there has been significant downward pricing pressure in the print business in recent years. If you undertake a lot of labor-intensive, low-value work, it may be difficult for you to compete due to their lower costs, broader client bases, and quicker delivery times.
Because of their low margin, high volume business model, online print companies can easily outshine you on pricing if that’s your sole way to sell. Also, the competition is not just online when it comes to price. There are high chances that your local rivals are selling low to hold onto market share as well.
You might consider following the same approach; however, price competition will take you nowhere. The solution is to stand out from the competition by providing value-added services that no competitor can match. So, instead of being a regular print shop, you need to offer something different to your customers. And technology is definitely going to help you for that matter.
2. Your Business has Outgrown your software
Outdated Legacy systems can cost a company more than you might imagine. In a survey, 55% of respondents stated that “over-reliance on old technology and a lack of essential IT tools are two major obstacles to their digital transition.
A company can’t grow effectively and stay relevant in the market if it is still relying on obsolete technologies.
There is a great possibility that a product you bought when your print firm was in initial stages has outgrown you.
You need a system that can support your firm as it grows. Without that, managing the higher demand that comes with expansion becomes difficult.
Consider the scenario where you handle all your order details using traditional notepads and spreadsheets.
It becomes too much to keep track of so much information and data as the volume of orders increases daily. Hence, you should think about employing the appropriate print order management software that will help you automate your repetitive tasks and optimize your current printing procedures.
3. Waste Is Killing Your Profit Margins
It is quite normal for things to go wrong in the ideal business world. What matters is how frequently it occurs and how severely it affects your financial situation. If you run a printing company, taking a look at the amount of material your business wastes is a good way to understand where things exactly go wrong.
You would probably agree that waste is a major issue in the printing industry. And if you use outdated technology; it only gets worse.
You may believe that since alignment, skew, and magnification issues are common in the printing industry, there is nothing unusual about a print shop having a lot of waste material. The same is true for color density concerns, which can cause you to throw away an entire project.
However, this is not usual. This waste builds up over time and can significantly reduce your profit margin. In addition to the material costs, there are other factors to consider, such as the decrease in production, the opportunity cost of lost jobs, and the damage lead times and missed deadlines have to your reputation.
New technologies automate the entire printing process leaving no room for waste. The latest web-to-print software ensure that the entire process is streamlined by keeping a check on all the details like auto sheet clearing, controlling paper temperature, front-to-back registration, and more.
4. You’re Less Productive
Believe it or not, productivity and speed of work is currently one of the most crucial aspects of creating a successful printing business. Putting a strong emphasis on speed without compromising quality will be imperative for print companies. However, out-of-date technology could seriously impede your ability to be productive.
With old technology, you have to do various tasks manually which consume a lot of time and effort. That way, then you end up turning away other important tasks.
Setting up print tasks, especially complex ones, takes a lot of time. Since all the parameters must be entered again, repeat tasks may take as long as the original. The problem is that with so much on your plate, you can’t work fast enough to hit your deadlines.
The latest printing technologies facilitate numerous automations that help you with your repetitive tasks which means you can work a rapid pace and take out time for other important tasks as well.
5. Your Operating Cost is Too High
Every print company needs a solution that enables it to save costs and human dependency in this fast-paced world. The greatest solution for it is undoubtedly the most recent print technologies.
You can keep an eye on every step of your work using updated print technology. In this manner, you may complete the work without depending on others or hiring extra people, and save money.
You can manage, budget, and lower your operational costs using the most recent print solutions. These technologies may assist you in expanding your company without compromising what makes you stand out from the crowd.
You can quickly access, personalize, produce, and order sales and marketing materials with a consistent brand consistency with an updated tech stack.
Conclusion
As mentioned above, there are a lot excellent reasons to update your print tech stack. You might be losing out if you haven’t previously done it because you’re too busy or believe it will be too expensive.
Technology has developed much more quickly than most print professionals are aware of, and to be honest, it is not even expensive now. Even entry-level presses now come with standard premium features. Additionally, compared to an earlier press, the time to ROI is much shorter due to better productivity and throughput.
Therefore, if you run an online print shop and haven’t considered making big changes to your tech stack, now is the best time to do so. Using the latest technology for your printing business is going to help you in ways you can’t even image and definitely help you take your business to greater heights.
So, it’s the right time to get started with your research on what sort of printing technology you need to include in your work process and take a look at what new possibilities await.