Industries Gradually Prepare for a Paperless Future

Industries Gradually Prepare for a Paperless Future

The printing industry has been predicted to fade out with the prevalence of word processors, software and cloud services that isolate workflow from physical offices into digital space. Yet the elimination process is longer than people initially expected as reported by CIO Dive, with few indications signaling that traditional demands for printers will be replaced by digital workspaces soon.

According to IDC reports, shipment of hard copy peripherals has declined by 12.8% from 2019 to 2023, suggesting a lesser demands for printing and copying devices. Same concerns have been echoed by one of the largest printer vendors, HP. In May, Enrique Lores, HP CEO, noted that printed pages dropped by 20% since the pandemic, primarily attributed to the adoption of hybrid work styles.

Challenging but Slow Transition

While various industries are moving towards paperless office environments, some sectors may find it challenging to eliminate printing due to legal requirements or customer expectations.

Healthcare, for example, remains highly dependent on printers. The manual nature of the industry means that printed paper is required for many processes. Visit summaries, insurance claims, and other documents are often printed. Patient demographic constitutes another factor, with some less well-off clients that have no devices to access digital documentations.

There are other industries that rely heavily on printers as well. Fintech firms may request wet signature (signed on paper) for certain documents, and paper filing is still a requirement for some courts and government agencies. Despite this reliance, these industries are making slow efforts to minimize its printing demands. Some organizations have reduced the number of printers to only one to centralize all printing workflow. Others are shifting toward digital documents and implementing online management systems. Still, this transition may take time, as employees are accustomed to handling paper documents, which they often perceive as more secure and tangible.

Evolving Printing Industry

In response to the trend of reducing paper use, the printing industry is also evolving its business models.

A key measure is to integrate with customers’ digital transformation progress. As workplaces and workflows continue to digitize, printer suppliers are transitioning from simply providing devices to offering solutions that help customers redesign their workspaces. Aurelio Maruggi, division president of HP Office, deems it a significant opportunity to help customers redesign their workspace with appropriate devices, software and services.

Other enterprises are redirecting their focus to areas with greater potentials. Scott Dabice, vice president of commercial strategy and operations at Ricoh USA, believes that production printing offers significant opportunities. The field is expected to grow steadily by 4% each year throughout 2023 to 2028, as anticipated by Ricoh.

While a paperless office environment is inevitable in the future, the transition may take longer than expected due to the established nature of the printing industry and ongoing reliance on paper in certain sectors.

Related:

• Dealers Comment on Uncertain Future of A3 Devices
• IDC Reports Growth in APAC Imaging Solutions
• HP CEO Claimed 20% Decline in Print Volume
• Global Printer Shipments Decrease Significantly Says IDC

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