The consensus from the 24 people representing 19 companies that participated in this Digital Workflow Seminar, was that it was effective on many fronts while answering all questions presented. It was an honor to have Hengsbach & Associates facilitate the day-long PIW sponsored event.
The speakers consisted of Jac Garner, President of Webcrafters, who spoke on the executive management's role; Diana Schwarzenberger IT Manager of LeHigh Milwaukee who did a nice job with Pre-Press & IT issues; Marc Johnson of H/P who handled print engine technology & upstream downstream customers; & Jerry Sturnick of Xerox on Bindery & Finishing opportunities.
As Facilitator, I spoke first to "set the table" for the other speakers, who in the above workflow order presented the challenges & opportunities facing we who have previously been just printers. Because of digital technology, we now output not only print, but digital media for the Web, and electronic devices. Accordingly, we are now Content Providers, with printing only being a part.
It's fair to say that the workflow was the star of the day. If we take care of the customers "file", it will allow us to provide it back to the customer in the way they want and need it. We therefore must have strong people in our companies in IT & Pre-Press areas, while understanding the entire workflow. This is the future.
A nice ending to the day came with the speakers and I forming a panel to answer any and all of the attendee questions. We had several that were submitted prior to the seminar, as well as some that came up during the day. We spent just about an hour in this mode, and did not stop until all had been answered.
The ratings of the attendees averaged 4.35 out of 5 overall, which was excellent. When asked if the day was too complex (5) or too elementary (1), they rated it 3.15 (3.0 would be perfect).
Thanks go to Judi Wolters of PIW for working behind the scenes to make it the success it was, and the speakers for their professionalism.
Tuesday, September 28, 2010
Monday, September 27, 2010
Advantages of Mergers & Acquisitions in the Digital Workflow
While preparing for the PIW Digital Workflow Seminar it became apparent that strong IT & Pre-Press departments & individuals were critical. If that's not the current condition of these areas in your organization, it can be time consuming and costly to develop them. Meanwhile, opportunities can be lost.
One way to answer the challenge was exemplified by Jim Pentecost, President of Dickinson press in Grand Rapids, Michigan. I remember meeting with Jim this last spring & discussing the issue. He was concerned that he did not have the experience within, and that, since he was new to digital production, there were limitations there as well.
A couple of months ago, Jim called me to say he & 2 other companies had pulled off a joint venture, with each organization providing something that the other two did not have. Very creative, and very effective.
Another possibility, for those of you who have the financial strength, might be an acquisition, and/or a merger. With this alternative, one has more risk, but also control. At the same time, depending on the scale of the transaction, it might reduce time required to enter a phase of the market, while expanding horizons for your current customer base. And it could very well add new customers as well.
M & A is always an option (it works both ways); don't fail to consider it.
One way to answer the challenge was exemplified by Jim Pentecost, President of Dickinson press in Grand Rapids, Michigan. I remember meeting with Jim this last spring & discussing the issue. He was concerned that he did not have the experience within, and that, since he was new to digital production, there were limitations there as well.
A couple of months ago, Jim called me to say he & 2 other companies had pulled off a joint venture, with each organization providing something that the other two did not have. Very creative, and very effective.
Another possibility, for those of you who have the financial strength, might be an acquisition, and/or a merger. With this alternative, one has more risk, but also control. At the same time, depending on the scale of the transaction, it might reduce time required to enter a phase of the market, while expanding horizons for your current customer base. And it could very well add new customers as well.
M & A is always an option (it works both ways); don't fail to consider it.
Friday, September 3, 2010
Advantages of Joint Ventures in the Digital Workflow
The expansion of the Digital Workflow within the Print Industry continues to have a profound effect on its printers. Challenges, especially for the smaller companies, arise most pointedly in finding the resources to provide the content to their customers in ways differing from traditional print.
Content Aggregation (CA) is the accepting the file(s), from one or multiple sources, manipulating them to enable output in a variety of ways, and, if required, storing them securely for retrieval at a later date. Because this requires detailed & evolving software knowledge and new technology, it takes time, talent, and funding, all of which may not be available to the average printer.
One solution that is beginning to emerge is the creation of a Joint Venture. What one company doesn't have, another may. By combining forces, talent, technology, and capacity can be assembled in a timely manner that is affordable & cost effective.
For example, one organization may be growing rapidly & have a great customer base, but not have the funding needed. Another may have the IT & Pre-Press talent with a strong software base, but not the production capacity. Yet another might have a strong distribution base capable of various delivery methods, but lack the others.
By getting together they can reasonably quickly put together a program that is affordable to each, gives the customers what they want, and is actually profitable.
The downside is that there can be a risk involved to, what is often, get involved with your competitors. Keeping an open mind, and perhaps choosing partners who are only peripherally competitive, will help. And if you documenting carefully & secure sound legal advice, there may be a very nice upside.
Content Aggregation (CA) is the accepting the file(s), from one or multiple sources, manipulating them to enable output in a variety of ways, and, if required, storing them securely for retrieval at a later date. Because this requires detailed & evolving software knowledge and new technology, it takes time, talent, and funding, all of which may not be available to the average printer.
One solution that is beginning to emerge is the creation of a Joint Venture. What one company doesn't have, another may. By combining forces, talent, technology, and capacity can be assembled in a timely manner that is affordable & cost effective.
For example, one organization may be growing rapidly & have a great customer base, but not have the funding needed. Another may have the IT & Pre-Press talent with a strong software base, but not the production capacity. Yet another might have a strong distribution base capable of various delivery methods, but lack the others.
By getting together they can reasonably quickly put together a program that is affordable to each, gives the customers what they want, and is actually profitable.
The downside is that there can be a risk involved to, what is often, get involved with your competitors. Keeping an open mind, and perhaps choosing partners who are only peripherally competitive, will help. And if you documenting carefully & secure sound legal advice, there may be a very nice upside.
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