Consider This...

I have recently encountered several print industry articles voicing concerns about the decline in paper use due to the digital age and speculating on the impact this trend may have on the industry as a whole. As with most things, opinions run the full range from panic to optimistic assumptions that it is just an opportunity to become more creative. Being an optimist, I tend toward the later sentiment, but it is impossible to ignore the reality of the digital invasion. That said, I think there are still a number of things to consider before engaging in a full blown Chicken Little impersonation.

Digital is expensive. Small businesses getting started or trying to stay in the black during down times in the economy are not likely to have the large sums of capital available to invest in digital solutions – no matter how tempting they may be.

Old habits die hard. Having worked in a number of small business environments, I can assure you that business owners get set in their ways. With the many details that must be juggled to keep a company moving forward, the usual philosophy is – if it isn’t broken, don’t fix it! This often translates into a continued use of the existing methods of paper forms and checks.

Sometimes you need a paper trail. For some businesses and industries, going digital is just not a viable option yet. This means that they still need paper work orders, receipts, etc.

Security Concerns. Although there have been great strides in digital security, there is no shortage of stories about sites and companies being hacked with customer information at risk of being accessible to the hackers. Although paper can also be snatched and counterfeiting is certainly not a dead art form the new security features on business checks and other forms should not be overlooked. A number of new measures have been implemented to add layers of protection for such items ensuring that they are safe to use while still being cost effective for your business’ bottom line.

Budget. These days most companies are very mindful of their expenses attempting to get the most for their money. Whether this means shopping for the best deal or deciding between pre-printed checks and forms versus printing your own, the great debate continues. There are a number of software products currently available allowing companies to print their own checks and business forms. HOWEVER, before you assume that this is a cost saving measure consider all of the costs involved. Most people evaluate the cost of the software and paper, but forget the additional cost of printer ink which can add up quickly. The cost of MICR ink should also be factored into the decision when thinking about printing your own checks as it is an important security feature of checks and missing this step could cost more in the long run than you save up front. Unless you are printing A LOT of checks and forms, I would be willing to bet that you would be better off finding a reputable supplier with great prices rather than trying to manage all of these details on your own. After all, there are so many responsibilities to manage in a small business – do you really want to add “printer” to your job title?

 

As always, I urge you to consider what is best for your business and sanity. The needs of each company are very different depending on industry, profits, staffing, resources and time. Before you take on a “cost saving” initiative, be sure that you have fully evaluated the costs – including the non-monetary – to ensure that you are not just creating more work for yourself.