The APDSP Financial Benchmarks Survey has been distributed and completed surveys are flowing in, but so are questions. Here are five questions we've received that deserve a public answer:
Question 1: Why is APDSP doing this survey for 2020, given everyone's business was disrupted by COVID last year?
Answer: We considered the COVID question as we were planning the survey. However, we decided that there still is a great deal of value in gathering data for this disrupted year. For one thing, comparisons among reprographics businesses will still be valid, because COVID affected everyone. Sure, it didn't affect everyone equally, but the same is true of any financial disruption. Comparing your business to other businesses in the field is a key reason to participate in the survey, and COVID's disruption doesn't change that. Furthermore, we will probably repeat the survey sometime in the next few years, so it will be valuable to compare the COVID year results to the new results.
Question 2: I don't care about comparing my business to others. Why should I bother to fill out the survey?
Answer: By completing the survey, you are contributing to the strength of the industry as a whole. The 15-20 minutes you spend entering your data will be greatly appreciated by other APDSP members. And maybe when you see the report, you'll decide that you do care after all!
Question 3: My business is no longer traditional reprographics, so will the results of this study still matter to me?
Answer: We know that few reprographics firms these days are 100 percent plan printing, which is why the survey asks questions about color graphics work, facilities management, equipment leasing and other areas of business. In the report that results from the survey, benchmarks for each of these categories will be provided. So, yes, the results of the study still matter to a reprographics firm that has a diverse list of services.
Question 4: Other trade associations have done similar surveys. Why should I spend time completing the APDSP survey when I can see the results of those?
Answer: The APDSP survey is inviting participation from the entire reprographics field, from small companies to large multi-location businesses. And the questions are entirely specific to reprographics (including color graphics, facilities management, etc.). That means the results of the APDSP survey will be broad in scope but uniquely specific to reprographics. And the analysis that accompanies the report will break down the respondents by size and geography, so if you want to compare yourself only to firms your size in your geography, you will be able to. Or if you want to see how you compare to the industry as a whole -- or other size firms -- you will be able to do that, too. No other existing benchmarking survey has the breadth and specificity of the APDSP survey.
Question 5: Can't I just buy the results of the survey when it's done instead of entering my data?
Answer: No, only firms that complete the data will get the results. That's the ONLY way to get them. You could send us a million bucks and it wouldn't matter! The results will be mailed in hard copy form to respondents, so pirating the results will be difficult. Furthermore, APDSP members who complete the report will also get an Excel tool that will allow them to easily compare their own data with the benchmarks.
Remember, the survey should take 15-20 minutes of your time. But an analysis of the results could impact your business tremendously. Please contribute to the industry by completing the survey! Access the survey by clicking here.