What are the best practices for conducting an effective MPS cost analysis?

1 Define your scope and objectives

The first step in any MPS cost analysis is to define your scope and objectives. What are you trying to achieve with MPS? What are the main pain points and challenges that you face with your print environment? How do you measure the performance and efficiency of your print devices and processes? These questions will help you set clear and realistic goals and expectations for your MPS solution. You should also identify the scope of your print environment, such as the number, type, and location of your print devices, the volume and frequency of your print output, and the security and compliance requirements of your print data.

2 Collect and analyze your data

The next step is to collect and analyze your data. You need to gather accurate and comprehensive data on your current print costs, usage, and issues. This includes the direct costs of hardware, software, supplies, maintenance, and support, as well as the indirect costs of downtime, waste, energy, and staff time. You should also analyze the usage patterns and trends of your print devices and users, such as the print volume, color ratio, duplex rate, paper size, and device utilization. You can use various tools and methods to collect and analyze your data, such as print audits, surveys, interviews, reports, invoices, and meter readings.

3 Compare and benchmark your data

The third step is to compare and benchmark your data. You need to compare your data with industry standards and best practices, as well as with your own goals and objectives. This will help you identify the gaps and opportunities for improvement in your print environment. You should also benchmark your data against similar organizations or competitors, to see how you stack up in terms of print efficiency and cost-effectiveness. You can use various sources and resources to compare and benchmark your data, such as online calculators, reports, case studies, and testimonials.

4 Evaluate and prioritize your options

The fourth step is to evaluate and prioritize your options. You need to evaluate the different MPS solutions and providers that are available in the market, and see how they match your needs and expectations. You should consider various factors and criteria, such as the scope, quality, and flexibility of the services, the pricing and payment models, the contract terms and conditions, the service level agreements, and the customer reviews and ratings. You should also prioritize your options based on your budget, timeline, and urgency, and weigh the pros and cons of each option.

5 Project and forecast your outcomes

The fifth step is to project and forecast your outcomes. You need to project and forecast the potential savings, benefits, and risks of implementing an MPS solution for your organization. You should use realistic and conservative assumptions and scenarios, and account for various variables and uncertainties, such as the market conditions, the technology changes, and the user behavior. You should also use various tools and techniques to project and forecast your outcomes, such as return on investment (ROI) analysis, total cost of ownership (TCO) analysis, and risk assessment.

6 Communicate and present your findings

The final step is to communicate and present your findings. You need to communicate and present your MPS cost analysis to your stakeholders, such as your senior management, your IT team, and your end users. You should use clear and concise language, and use visual aids and examples, to explain your findings and recommendations. You should also highlight the value proposition and the competitive advantage of implementing an MPS solution for your organization. You should also address any questions, concerns, or objections that your stakeholders may have, and seek their feedback and approval.