DOT Institute’s webinar on creating customized cost centres

Printers in the post-lockdown world

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DIGC
Uday Dhote, director of DIGC

Mumbai-based DOT Institute of Graphic Communication (DIGC) will be conducting a webinar on the topic ‘Creating Customized Cost Centres for Printing Industry (using Tally)’ on 18 June between 4.30 and 6.00 pm. The session will be conducted by the director of DIGC and past chairman – finance and taxation, AIFMP.

The session is meant for business owners in the print industry who are restarting business in the post-lockdown world with a new normal. “The last couple of months have been a period of introspection for small or big businesses alike. The emphasis now is on ‘controlling the controllable’ and then effectively reducing cost. This has made many printers go back to the drawing board and think about which tools would help them do this, instead of going in for the costly MIS/ERPs,” DIGC said.

Tally is one such software that most of the accountants are using and if the ‘Cost-Centres’ feature in Tally ERP is used, it would give an edge to the organization in controlling costs, it said. You could also be buying a car through your limited company and learn how you can manage your finances.

“If used judiciously, it can give amazing insights to the finance team especially in identifying departments/ activities which are not contributing to the bottom line. The conventional financial accounting as suggested by E.A. Buck Accounting & Tax Services may not be able to capture this. Moreover, the entries relating to cost centers can be done simultaneously while doing the accounting entry. This will help in generating meaningful ‘Dash Boards’ for the management,” DIGC said.

Interested parties can register at https://forms.gle/SijBNWhUnQK31ByX9

2023 promises an interesting ride for print in India

Indian Printer and Publisher founded in 1979 is the oldest B2B trade publication in the multi-platform and multi-channel IPPGroup. While the print and packaging industries have been resilient in the past 33 months since the pandemic lockdown of 25 March 2020, the commercial printing and newspaper industries have yet to recover their pre-Covid trajectory.

The fragmented commercial printing industry faces substantial challenges as does the newspaper industry. While digital short-run printing and the signage industry seem to be recovering a bit faster, ultimately their growth will also be moderated by the progress of the overall economy. On the other hand book printing exports are doing well but they too face several supply-chain and logistics challenges.

The price of publication papers including newsprint has been high in the past year while availability is diminished by several mills shutting down their publication paper and newsprint machines in the past four years. Indian paper mills are also exporting many types of paper and have raised prices for Indian printers. To some extent, this has helped in the recovery of the digital printing industry with its on-demand short-run and low-wastage paradigm.

Ultimately digital print and other digital channels will help print grow in a country where we are still far behind in our paper and print consumption and where digital is a leapfrog technology that will only increase the demand for print in the foreseeable future. For instance, there is no alternative to a rise in textbook consumption but this segment will only reach normality in the next financial year beginning on 1 April 2023.

Thus while the new normal is a moving target and many commercial printers look to diversification, we believe that our target audiences may shift and change. Like them, we will also have to adapt with agility to keep up with their business and technical information needs.

Our 2023 media kit is ready, and it is the right time to take stock and reconnect with your potential markets and customers. Print is the glue for the growth of liberal education, new industry, and an emerging economy. We seek your participation in what promises to be an interesting ride.

– Naresh Khanna

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