Calculating the TCO of Your Multifunction Printer

Busy Woman in Her Office Calculating Costs

Multifunction printers offer so many options that they are the perfect choice for any business. If you are a small-to-mid-sized business, you need equipment that is reliable as well as affordable to support your emerging brand. MFPs are an excellent, affordable choice; however, it is important to understand the total cost of ownership (TCO), not just the purchase cost of the device, since the lowest purchase price may not always be the best option.

The Cost of Maintaining

Just like your car needs gas, service, and maintenance so too does your printer. To understand the TCO of your MFP, you must factor in the costs of running the device as well as the price of ink, toner, paper, and other supplies. Once you realize the TCO, the printer with the lowest “sticker price” may not turn out to the most economical options after all.

Calculating the TCO

When you are adding up the total cost of owning your MFP, here are four things to keep in mind:

  • Cost of the physical hardware: This is the price of the MFP when you initially buy it. If you are leasing, consider the cost over the entire length of the lease.

  • Printing costs: This refers to the cost and capacity of ink as well as the amount of paper you use every month. Remember to factor in whether you typically print in black-and-white or in color, which is more expensive. Also, think about the quality of ink and paper you require each month.

  • Cost of running the device: When it comes to running costs, energy consumption is often the biggest factor and expense. Look for Energy Star-rated options for efficient options. As mentioned above, the type and quality of paper you will be using can affect the running cost of your MFP. Examine the default options on various models since duplex printing can minimize paper expenses.

  • Additional considerations: When calculating the total ownership cost of an MFP, don’t forget additional factors such as wireless needs and expenditures, security concerns, manages print solutions, and any other facets of printing that can affect the overall cost.

Need help calculating the total cost of your current MFP or a new one? Contact us for assistance!