Ricoh Managed Print Services Update
Printing needs have drastically declined at the University of Kentucky over the last several months, as many offices have instructed their employees to work remotely during the COVID-19 pandemic. This has resulted in a substantial loss of business for UK partner Ricoh because the company is paid per print.
In response to this situation, UK Purchasing has negotiated a contract amendment between the university and Ricoh to provide continuity and prevent disruption to print services at UK. Starting mid-December, university offices will pay for their usage of black & white and color prints on a pay per click rate sliding scale based on the volume printed university-wide.
This new sliding scale is less expensive for departments with greater than a 35% decrease in current spending; however, some departments will see an increase in printing costs over the short term. Ultimately, this sliding scale model will be less expensive university-wide post COVID-19, when 93% of pre-COVID levels of printing are achieved. Savings are anticipated in year-over-year printing costs.
In addition, the UK contract with Ricoh has been extended two years which will allow the company to spread the cost of equipment, project management and depreciation over 96 months versus 84 months. This will help Ricoh absorb its loss of nearly $900,000 of UK’s regular revenue over the last several months.
For more information please contact Wendy Brown at 859-257-5404 or firstname.lastname@example.org.