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New customers could seek web-to-print software in future
According to a recent industry analysis report, the U.S. commercial printing industry saw its profits decline 27 percent in 2014 compared to 2013. Revenue comparisons were only a bit higher in the third and fourth quarters of 2014 than they were in 2013. These numbers just reinforce the fact that the printing industry is constantly changing. Printer executives and owners cannot afford to become complacent due to end-of-the-year revenue firmness. Any complacency can come back to haunt businesses in an industry that is always changing because of economic, technological and social factors.
It is important to keep this in mind because in a few years, companies that offer web-to-print software, particularly ones who have yet to create an online presence, may see an increase in customers.
It is estimated that between 2016 and 2020, 3 to 5 billion new customers will enter the global economy, according to CEO Peter Diamandis, CEO of XPRIZE, a nonprofit organization that encourages competition to develop technology that will benefit the world's population.
These new customers will have Internet access because of big ambitions from some of the world's leading technology companies. Facebook, for instance, is partnering with Internet.org to develop aircraft that will beam down Internet access to unconnected parts of the world. SpaceX is developing a network of 700 small satellites to do the same.
The printing industry will not see huge changes overnight. However, it does not hurt to start looking into the future, perhaps 10 to 20 years from now. Current industry leaders will most likely not have to expand overseas, but if billions were to gain Internet access, it is estimated that their entrance into the online marketplace will add trillions of dollars to the global economy.
Those who gain access to the Internet will not be starting online businesses right away. But they will over time. Eventually, a number of these new businesses will need constant access to web-to-print software.
Some believe printing is more than just saving money or increasing productivity and profit. The industry needs to create more opportunities because print service providers are more affected by changing technologies than other industries. These hypothetical opportunities could present themselves when billions of new customers become connected to the Internet.
The importance of a reliable, constant connection to the Internet cannot be understated either. The hope may be that businesses in developing countries will use a constant and reliable Internet connection to their advantage. They will want to use web-to-print software to track inventory, order new print collateral and ultimately, lower costs by only ordering materials whenever they need to.
Print management services that have the proper setup in place will recognize these opportunities when they open up. The importance of continuous software enhancements cannot be understated either. The convergence of ink on paper and online content will lead to many more avenues for businesses to explore.
