Thursday, November 3, 2011

Prudential Fox and Roach: Cutting costs with Green Technology

Cutting costs for business owners is a main priority and trimming the fat from the budget can come from many different areas. Green technology has blown up in the past few years and has become a major ethical and financial point for companies who want to save money and protect the environment. Hundreds of companies from every financial sector such as Intel, Kohls, and Whole Foods have already implemented environmentally friendly cost reduction processes that have boosted their sales and cut their operating costs.

Real estate company Prudential Fox and Roach have made use of emerging Green initiatives by implementing a new type of printing technology. When looked at from a narrow scope, changing a printing technology seems to be a waste of time and resources. Yet, when the economic and environmental impacts of massive paper and ink cartridge waste were accounted for in the company’s books the “waste of time and resources” becomes in actuality a huge part of wasted revenue.

In the begging of last year, Prudential Fox and Roach reached out to a document-consulting firm, Docusense, to research and monitor the areas in which they could cut back their costs and carbon footprint on earth. Soon thereafter the company was fitted with a Managed Print Service technology. This system replaced not only physical printers but also added new software that made printing more efficient by using less paper and ink. The printers were fitted with solid ink technology that uses a stable block of ink, much like a crayon, that eliminates the need for scrap plastic and metal cartridges used with a traditional laser ink printer. This change alone saved Prudential Fox and Roach almost ninety percent of the waste that was formed by using laser printers. By implementing the Green technology with printers, the company indirectly saved fossil fuel consumption as well. Each individual ink toner cartridge that is used in laser printers requires three quarts of oil per production. By cutting out the use of this entirely, Prudential Fox and Roach saved five thousand gallons of petroleum and greatly reduced their carbon footprint.

Saving the environment in itself is a noble and ethically just move by any company that implements a Green Technology system but in the case of a real estate company one may ask why it is even relevant. After starting their new printing technology, Prudential Fox and Roach reported an operating cost savings of one million two hundred thousand dollars over the next three years of its use. That’s over four hundred thousand dollars of recycled revenue that can now be used by the company itself, all from changing the ink cartridges in printers and managing the printing through software.

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