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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

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Andrew Paparozzi and Joe Vincenzino

About Andrew Paparozzi and Joe Vincenzino

NAPL’s Andrew Paparozzi, Vice President/Chief Economist, and Joseph Vincenzino, Senior Economist, are well-known for their accurate and thoughtful discussions on the economy and US commercial printing industry. A foremost author and speaker on economic business trends in the printing industry, Paparozzi heads NAPL’s Printing Economic Research Center. Vincenzino is intimately involved in the production and analysis of NAPL’s proprietary research studies including its famed State of the Industry reports.

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