MFP Weekend Industry Notes

Gathered from Print4Pay Hotel Members from around the world and a few moles in very good places!

- Inkstop, a 150 location chain of stores that refill ink and toner cartridges, announced it is going out of business due to bankruptcy.

- Brian Parisi Copiers Co. announced it has acquired the former Harden Furniture building in Clarence, New York

- Toshiba announced it is bidding on building a new nuclear plant in Kozloduy, Bulgaria.

- According to white paper released by Kofax document imaging software:
- Over 20 million tons of office paper is consumed each year in the U.S.
- Federal government consumes 110,000 tons of paper annually
- Cost to file a single paper document is $20
- Searching for a misfiled document costs $120
- Reproducing a lost document costs $220
- 90% of medical patient related info is still paper based
- 31% of every dollar spent on healthcare is spent on admin costs
- Only 8% of the country’s 5000 hospitals use automated electronic patient records
- Only 17% of the country’s 800,000 physicians use automated electronic patient records
- 75% of companies surveyed employ paper based processes to manage AP
- Average cost to process an invoice is $37
- Average time to process an invoice of 33 days
- Accounts payable staff spends 40% of their time researching response info
- Document capture software market grew by 7.7M in 2008
- By 2012, document capture software sales expected to net $.27 billion

- According to a study conducted by the New England Journal of Medicine:
- 90% of all patient information remains on paper
- Only 8% of 3,000 hospitals studied used even a basic electronic medical records (EMR) system
- Only 1.5% of non-federal U.S. facilities use a comprehensive EMR
- Only 17% of doctors are using even a basic EMR system
- 12% are going through an EMR system de-installation

- According to survey conducted by Oce’:
- Commonly quoted 7% average toner coverage per page is actually more like 16%
- Abandoned documents account for up to 25% of all print jobs
- On average, 30% of IT helpdesk support time is spent on printers/MFPs
- The average time it takes to print a 40 page document on a desktop printer is 5 minutes

- Toshiba announced it plans on spending $2.2 billion expand its plant that builds NAND memory chips in Yokkaichi City, Japan

- In cost cutting moves, Dell Computer announced it will:
- spend $120 million to transfer its manufacturing plant in Poland to Foxconn Technology
- lay off 700 workers at its Malaysian plant
- close its plant in North Carolina

- OfficeMax is suing former sales reps for breach of their non-compete contract when they left for rival W. B. Mason Co. Inc. in New England.

- Adobe Corp. is warning users of a virus that can allow hackers to take over end user’s PCs. The virus can be embedded in a PDF, and be inadvertently unleashed on the PC after downloading the PDF attachment in email. Adobe has yet to release a fix to prevent this problem.

- According to Raymond James & Associates, IT shipments will increase 4.3% in 2010. FBR Capital Markets is projecting IT spending to increase 1.6% in 2010.

- The Wisconsin Supreme Court refused to review a court case that was lost by Xerox regarding how much tax it must pay in the state.

-=Good Selling=-