Documentation remains a critical aspect of every business operation. With increasing digital transformation and documentation requirements, businesses are seeking more efficient ways to manage their document workflows. Managed Print Services (MPS) have evolved significantly to meet these needs, offering tailored solutions that enhance efficiency, security, and cost-effectiveness.
In this guide, we’ll explore the latest Managed Print Services market trends, growth drivers, and forecasts for the MPS market in 2025.
What is the Managed Print Services?
Managed print services (MPS) are one of the advanced services that are available by business houses to manage their documents in an orderly manner. It can be explained as the customised, tailored, specifically designed, and integrated solution streamlining any organisation’s printing process. Usually, these are third-party and outsourced Print Management Services.
The main benefit of the MPS is that it helps optimise the primary business process while managing the organisation’s essential documents in an accessible and reachable manner.
MPS Deployment Options:
- On-Premise: For organisations with stringent data privacy requirements.
- Cloud-Based: Flexible and scalable for businesses embracing hybrid work environments.
- Hybrid Models: A blend of on-premise and cloud solutions for optimal control and adaptability.
Cloud-based Managed Print Services and hybrid models will gain prominence by 2025, driven by the shift towards remote work and digital-first strategies.
Top 6 Reasons Why Businesses Need Managed Print Services
1. Sustainability Goals:
Businesses aim to reduce their carbon footprint, and Managed Print Services (MPS) help reduce paper waste and energy use. MPS makes it easier for organisations to switch to digital processes and reach sustainability goals.
2. Enhanced Security:
With rising cybersecurity threats, Managed Print Service providers integrate advanced security features, such as data encryption, user authentication, and secure printing, to protect sensitive business information.
3. Cost Optimization:
Reducing the need for local, inefficient printers and replacing them with centralised or remote-managed systems lowers operating costs. Managed Print Services market growth ensures predictable printing expenses with transparent reporting.
4. Enhanced Workflow Efficiency
Print tasks can be automated, and workflows can be streamlined, allowing employees to focus on core responsibilities instead of troubleshooting printers or managing supplies.
5. Customised Solutions for Industry Needs
Industries such as healthcare, banking, and manufacturing demand tailored Print Management Services to address their unique regulatory and operational challenges.
6. Support for Hybrid Workforces
Remote and hybrid work models demand flexible solutions. Managed Print Services in India enables mobile printing, allowing employees to print securely from any location or device.
Industry Applications of Managed Print Services
1. Banking, Financial Services, and Insurance (BFSI)
BFSI businesses depend on Managed Print Services (MPS) market trends to meet strict compliance standards, ensure secure document management, maintain organised records, and reduce costs. MPS solutions support secure and efficient document handling, which is crucial for data-intensive sectors like banking, financial services, and the insurance sector.
2. Government Agencies
Government offices continue to require extensive documentation, making Managed Print Service providers essential for managing sensitive data while reducing waste.
3. Healthcare
Patient confidentiality and regulatory compliance are crucial in healthcare. Managed Print Services trends support secure printing and digitization of records.
4. Telecom and IT
Telecom and IT companies adopt MPS for scalability, efficient document workflows, and seamless integration with cloud-based tools.
5. Industrial Manufacturing
Manufacturers leverage Managed Print Services market solutions to streamline billing processes, inventory documentation, and production workflows while maintaining secure data environments.
Factors Driving Adoption Of Managed Print Services
The main factors driving the adoption of the Enterprise Print Management Solutions are as follows:
- Operating costs are lower, and you have more flexibility to meet your specific needs.
- The complexity of technical solutions continues to rise.
- The dependence on heterogeneous networks of applications and infrastructure is increasing.
- The adoption of big data solutions is skyrocketing.
- Organisational initiatives to decrease paper waste and go green.
- Managed print service companies offer the much-needed competent technical assistance for business growth.
Challenges To Managed Print Services
While the benefits are immense, businesses face challenges such as:
- Data Privacy Concerns: Ensuring compliance with data protection regulations like GDPR.
- Integration Complexities: Aligning Print Management Services with legacy systems.
- Initial Investment: High upfront costs for infrastructure setup and training.
- Partnership Structuring: Organizations must carefully vet service providers to ensure alignment with their goals.
How to choose a Managed Print Services solution provider?
When selecting an MPS provider, consider the following:
- Assess Operational Needs: Define your printing requirements and expected output.
- Evaluate Cost Efficiency: Ensure the provider offers cost-saving measures tailored to your business.
- Prioritise Security Features: Opt for providers with robust encryption, user authentication, and compliance certifications.
- Scalability and Flexibility: Ensure the solution can grow with your business and adapt to future requirements.
- Expertise and Reputation: Look for providers with a proven track record and industry expertise.
- Flexibility and Scalability: Ensure the solution can adapt to your evolving requirements.
- Security Features: Verify robust measures to protect sensitive information.
Conclusion
As businesses embrace digital transformation and sustainability, Managed Print Services trends have become an indispensable part of modern operations. By addressing cost, security, and workflow challenges, MPS providers offer a competitive edge in a dynamic market.
Wepsol’s fluidPrint Managed Print Services provide a complete solution for businesses in India and beyond, making document management more straightforward, safer, and more sustainable while helping you improve and streamline your printing processes effortlessly.