HP’s printer business has been declining recently. To boost their net revenue, they now have to look to more subscription services. It’s all about strengthen the printing division. A financial plan released in February promised to increase the print revenue.
HP introduces their new Managed Print Cloud Services, which takes away the management of print-related technologies in organisations. It is hosted in the cloud, organizations will leave their printing tech needs to HP. This will enable IT teams to direct their focus on other strategic priorities.
HP also announced full support for Microsoft’s cloud-based printer management service, generally known as Universal Print. The company also added that remote workers would be able to receive printers and supplies via the updated Flexworker Solutions program.
Solutions could provide an out
David Prezzano, the general manager and global head of Print Services and Solutions for HP, said that their top priority was to provide services and solutions that satisfy the needs of the users while keeping the expenditure low.
HP will decide which printers are best suited for an organisations, and will arrange supplies, management, patching, etc. It can even deliver printers and supplies to home workers.
Based on May’s financial results, it was clear that HP’s printing revenue had fallen by about 19% from last year. To put this in perspective, printing revenue makes up 33% of the company’s net income. To lose revenue in this sector would be to face a significant decline.
An optimistic look ahead
Enrique Lores, the CEO at HP, was aware that they were facing short term challenges in the printing sector due to the periodical shifts in demand and supply. Lores was, however, optimistic that the streamlining of operations to offer the new services in the longer term, would breathe life back into their printing business.
Intelligent and personalized services, especially in automating processes, will be available. This is made possible by the new Managed Print Cloud Services, which will be integrated with Microsoft’s Universal Print service.
Flexworker Solutions program will make the managerial work for IT departments easy because of the consolidated reporting and central billing.