Being Lean Doesn’t Preclude Investing
While companies have learned to do more with less, they also realize that they need to keep investing. At least, that’s the view of the overwhelming majority of participants in our research. The caveat: They plan on investing prudently—only when sound measures of expected return justify investing. In other words: They plan on investing for the right reasons, not because “if others are doing it we have to,” and not because “it’s the next big thing.”
What are they planning to invest in? As shown in the table below, at the top of their list: Web-to-print/Web storefronts/e-commerce, workflow solutions, and the digital pressroom. Their priorities are reflecting both a continuing move toward diversification and the need to boost efficiency and control costs.
How are companies making investment decisions? There is no best capital investment process that works for every company, but there are first principles of capital investment from which any company can benefit. Among these:
• Considering the organization as a whole.
• Getting beyond the hype.
• Making the capital investment process ongoing.
• Monitoring post-investment results carefully.
For a comprehensive discussion of the capital investment process among printing companies, see the NAPL Capital Investment Study.
Andy Paparozzi Joe Vincenzino