16 October 2017

Investment Decision Making Report – why knowledge is power for print businesses

With the season of The Print Show and IPEX well upon us, many print businesses will be thinking about their next investment decision as they view the latest innovations to hit the market. And as an industry, we're not afraid to invest. In our newly published Print Investment Decision Making Report (in partnership with Canon and Print Business) the total annual investment for the 109 BPIF member companies surveyed will be £64million per annum over the next 3 years.

But whether we're choosing to invest for increased performance, to develop new products or for cost reduction purposes; it's clear that many of us feel there is plenty of room for improvement in our decision making processes. How do we ensure we've conducted broad and balanced research? Do our staff have the right knowledge and experience to conduct this research? How do we ensure the information we gather about products is unbiased and accurate? In reality, lack of time and resources can hinder our best intentions, and even if we're happy with our purchase, evaluating how effective our investment proves in the long run can be difficult.

That's where the Investment Decision Making Report comes in. Researched over the course of 2016-17, the 100+ companies surveyed have helped us to provide an insight into how we're currently investing as an industry. Armed with this knowledge, our aim is for print businesses to not only use it for making more informed decisions about their investments, but also to open up meaningful dialogue between buyers and suppliers.

The report, which not only highlights many of the key concerns faced by our members, such as how 46% of respondents felt they did not receive clear lifetime cost information from suppliers, or how 45% find it difficult to keep abreast of market and technology changes, but it also offers constructive guidance for how to improve future decision making, in response to the feedback received.

With research topics ranging from ‘Information Gathering' to ‘Decision Making in an Environment of Perpetual Uncertainty' and ‘Post-Installation Review', the report offers a thorough, honest look at the print industry's decision making habits. Recently launched at The Print Show, we hope the report will help drive positive change throughout the industry, and open up better communication channels for all involved. As once stated by Benjamin Franklin, ‘An investment in knowledge pays the best interest.'

To recieve your copy of the Investment Decision Making Report, please contact Kyle Jardine.