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Saving Money on Printing Must be a Goal for Financial Executives in 2006

A number of factors -- including price increases for raw materials and natural disasters -- foretells of a significant increase in the price of printing in 2006. Organizations need to look at their print spending and consider methodologies that would clearly save hard dollar costs in this significant spend area.

Chambersburg, PA (PRWEB) October 29, 2005 -- Significant erosion of corporate profits may occur during 2006 unless organizations devote resources to standardizing and managing the print procurement process.

According to Kevin Long, President of Patented Financial Controls, a division of e-LYNXX Corporation, buyers will experience higher costs for printing over the next twelve months due to a number of factors including rising paper costs, strains on the shipping industry, as well as normal inflation. Additionally, several industries are experiencing stress due to the numerous natural disasters that have occurred in 2005. In fact, a recently published report predicted a 5% to 10% increase in printing costs next year, meaning that a company annually purchasing $5 million or more in printing is likely to see increases of $250,000 to $500,000.

“Unfortunately, within most organizations, print purchases fall under the radar of corporate executives, making the exact increase difficult to track,” Long relates.

Print is one of the few indirect spend areas that is significant enough in cost to deserve the same attention as those direct spend items relating to an organization’s product line.

Long adds that it is not difficult to put some changes in place to produce real savings and more than offset the anticipated rises in printing costs.

"Understanding the economics of the printing industry, as well as managing print spend as though it were a direct spend, are two pieces of the puzzle. It is essential for financial executives to take a close look at their control, or lack thereof, specific to this spend area," says Long.

He says that the third piece of the puzzle is the patented business method that is specific to the procurement of custom manufactured goods.

”Proactive executive involvement, as well as the utilization of industry knowledge to procure printed projects,will create an environment where realizing substantial cost savings happens effortlessly," Long states. “With the proper knowledge, methods, and commitment, you can control your print spend.”

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