A busy law firm processes a lot of information on a daily basis. Much of this is done using paper. From receiving documents for filing to printing documents for signing, there are a lot of sheets of paper to keep track of. Most importantly, every piece of paper represents a cost in some way. There is, of course, the actual cost of the paper itself and the printers used to print on said paper. But there are also costs that may not be as easily quantified. Things like the time it takes to file paper, mailing costs, and more. Every little bit can up to be a big cost.

Ultimately, these costly print mistakes reduce the net income of the firm. Luckily, managed print services, or MPS, can help law firms monitor and correct the print costs that are affecting the bottom line. Most importantly, firms need to understand the mistakes they may be making without even knowing it.

1. Failing to Properly Track Print Costs

Tracking costs associated with a file is nothing new to a legal firm. Attorneys, paralegals, and experts required on a case all bill each hour meticulously. Cost for materials and research are also billed to clients. However, many law firms unknowingly allow print costs to fly under the radar. Sure, a single sheet of paper is not a cost most firms wouldn’t think twice about. However, any legal professional can confirm that files are never just a single sheet of paper.

That seemingly insignificant cost of paper is why this expense goes untracked for so many law firms. A piece of paper pales in comparison to an hour of an attorney’s time. Over time, however, a few cents can turn into a few dollars which could be hundreds or even thousands of dollars with enough time. MPS can help law firms monitor printing closely to ensure all costs are tracked and billed accordingly. Without proper tracking, the firm is forced to eat the cost themselves.

2. Not Managing the Flow and Storage of Paper

The cost of paper itself is not the only expense surrounding paper. Every sheet of paper that enters or exits the firm has a time cost associated with it. This information needs to be filed, and then it may need to be pulled to review again later. All of this can be time consuming for employees that offer the most value actually working on cases rather than organizing paper. This is where workflow automation steps in to save some valuable time.

Workflow automation is growing over 5% each year and for good reason. With new technology, multifunction business printers are more than just devices that print toner to paper. They are the key to unlocking productivity. Notes and files can be scanned then automatically filed away to the correct folder and made searchable using terms or text that appear in the document. No more searching through files to find the exact document needed for a case.

Obviously, this is far more convenient than more traditional methods of scanning, filing, and recalling documents. The real magic is in the time savings. That is the power of MPS.

3. Not Managing Print Security

Cybersecurity is a major topic of conversation in businesses around the world. The cost of data breaches for businesses is growing every year with 2021 far eclipsing the mark set in 2020. For law firms, sensitive data about clients and cases passes through print devices every single day. While this presents opportunities for malicious attacks, it also means there are preventable accidents that can occur as well.

For example, many law firms do not have secure printing protocols set up. Secure printing requires users to be at the device to release the print job they have requested. This is often done using a keycard or passcode. With secure printing, the user cannot send a document for printing and then forget and let it sit in the print tray for any passerby to view or steal. With some minor changes, the main causes of data breaches due to printing can be almost completely eliminated.

Fewer Mistakes, Better Bottom Line

Costly print mistakes can be corrected thanks to managed print services. With MPS, law firms can take back control of their printing costs, discover new ways to improve productivity, and secure their sensitive documents to prevent costly data breaches. All of this can make for a much healthier bottom line at the end of the day.

To learn more about MPS, contact the managed print experts at Mac Copy today.