How AI in Print Estimation Cuts Costs for Print Service Providers

Summary: Dealing with inaccuracies in print calculations? Looking for a high-tech price estimating system for your modern print business that not only provides instant and precise calculations but also optimizes your pricing management? This blog will uncover how AI-driven accurate print estimating tools are a game-changer for maximizing your business profits.

Estimating print prices without artificial intelligence is like using a Global Positioning System (GPS) that will take you to your destination but not by the fastest and most convenient route.

It's a sure thing that automated print cost estimating software has improved the process to some extent, but the modern printing world demands a smarter approach.

By utilizing the power of AI, the process of estimating printing costs can be taken a step further- delivering precise and real-time cost predictions in seconds. Research states that the global artificial intelligence market is projected to reach USD 1.81 trillion by the year 2030, rising at a CAGR of 35.9% from 2025 to 2030.

With these future predictions, its evident that the AI industry is booming and adopting this technology is necessary for new age printers to stay competitive.

Keep reading to discover how AI’s hyper-intelligence can level up print estimating into an effortless process, that enhances efficiency, accuracy, and profitability.

Understanding AI in Print Estimation

AI in print estimation leverages machine learning algorithms to analyze data like material usage, labor costs, and real-time cost fluctuations of print products to generate precise cost calculations. Unlike traditional methods, that rely on manual calculations or rule-based systems, AI revolutionizes the print industry by offering estimations for varied print volumes, and job specifications.

In a nutshell, artificial intelligence backed print estimators utilize a data-driven and automation-based approach to deliver error-free calculations in no time, providing printers with a strategic advantage in the competitive print market.

Common Challenges in Ordinary Print Estimating Methods

Ordinary print estimating methods involve manual and low-level automated calculations, that include countless spreadsheets for maintaining data and a vast hierarchical process for quote approvals. Let’s discuss the common pitfalls when calculating print costs with these methods.

1. Inconsistent Pricing due to a Non-Standardized Approach

In the case of manual price estimations, multiple staff members may have to handle the cost calculations due to reasons like high volume of requests and shift-based workflows. The absence of a standardized approach, judgement differences and frequent price fluctuations, leads to varied quote generation and inconsistent pricing for the same print job.

2. Costly Human Errors with Traditional Print Calculations

Print businesses using manual print estimations often have hidden costs that no one talks about, leading to financial losses, increased error rate, reduced trust in the business, and customer dissatisfaction. Even a simple miscalculation such as forgetting to add the embossing cost on a print, can force the printing company to either bear the loss or request additional payment from the print buyer.

3. Time-Consuming Print Estimations with Manual Methods

Manual estimations or print calculations with minimal automation are time-consuming, as they require a specific framework for evaluating job specifications, material and labor costs. For instance, if a print buyer requests a quote from two different print businesses, they are more likely to purchase from the one that provides a quicker quote estimation.

4. Limited Accessibility Leading to Delays in Responses

When a quote has been requested, and the estimator is not available to make the calculations, the responsibility is escalated to the next immediate person in charge- i.e. the sales or the customer service representative. These professionals might lack access to the required pricing information and need to wait for the estimator to give a final approval, which results in a delayed response to the print buyer.

What Makes AI-Powered Print Estimating More Efficient?

Manual cost estimations are for sure an outdated method and minimal automation methods step up the process to some extent. In this section, let’s discuss how AI-based smart print estimating tools provide efficient cost calculations.

1. Enhanced Precision and Consistency in Prices

AI-powered print estimating software utilizes predictive analytics to provide real-time and error-free calculations. By analyzing historical data of cost estimations, changes in pricing, labor and material costs, the intelligent system can provide accurate and consistent pricing at all times.

2. Faster Quote Generations for Print Products

Studies says that AI can help to cut around 30% to 70% of the time required for quote generation, providing precise estimates in seconds. Utilizing AI in print estimating can help to significantly reduce the wait time for print buyers, provide instant pricing and gain a competitive edge.

3. Empowering Staff & Customers with Instant Quotes

AI-driven self-service portals reduce the dependency on print estimating professionals and empower sales teams as well as customers to get instant quotes on-the-go. AI powered print shop estimating software eliminates the need for technical expertise and access to pricing resources, enabling users to input job details and generate precise price estimates.

The Synergy Between Web-to-Print and AI-Powered Print Estimators

Web-to-print and AI are two powerful technologies that, when combined, can completely change the way modern print businesses operate. In this section, let’s discuss how an AI and web to print based print estimating tool can solve the existing issues in cost calculations.

1. AI Eliminates Human Errors and Ensures Accurate Pricing

The Problem:

Ensuring error-free cost estimation is a must for modern PSP’s, and automated web-to-print systems enables to achieve that with perfection. However, this print estimating system can be levelled up to address issues like fluctuating costs of materials, and production.

How AI Fixes It:

Integrating web to print systems with AI driven print quote automation tools, allows printers to analyze historical data, rectify errors using machine learning algorithms and deliver accurate quotes.

The Benefit:

New age printers can avoid issues like underquoting, inconsistencies in print pricing, and miscalculations, thus achieve higher business profitability and gain customer trust.

2. AI Enables Real-Time Dynamic Pricing

The Problem:

W2P based estimating software refines print job price calculations via pre-defined settings and smart automation. The absence of AI can make it difficult for the system to predict prices based on market fluctuations, leading to overpriced or underpriced quotes.

How AI Fixes It:

The combined power of AI and web-to-print technology allows print buyers to achieve real-time cost estimations based on factors like raw materials, order complexity, production capacity, as well as customer-specific factors like order history, and loyalty discounts.

The Benefit:

Printers can benefit from real-time estimations that protect the profit margins of your business and print buyers can benefit from fair and competitive pricing.

3. AI Automates Reordering for Print Buyers

The Problem:

Modern print order management software makes reordering a breeze with the accessibility of order history. However, when placing new orders, customers have to go through the estimation process from the beginning due to changes in prices.

How AI Fixes It:

AI-enabled web to print system recognizes the patterns of past orders, analyzes the pre-configured job settings and offers the updated pricing in real-time, eliminating the need for requesting quotes from scratch.

The Benefit:

This online print estimating system saves time for both print providers and print buyers, enables faster order placements, and increases the chances of repeat business.

4. AI-Powered Chatbots Provide Instant Quotes

The Problem:

Web-to-print systems have a systematic process for quote approvals. Although it offers top-notch capabilities for a collaborative quote providing approach, it is a time-consuming process.

How AI Fixes It:

AI based web to print tools can solve this issue by offering AI chatbots with Natural Language Processing (NLP), ensuring it automatically responds to customer’s requirements and offer accurate quotes.

The Benefit:

The faster response time of AI chatbot for print estimation will allow print buyers to 24/7 access the print ecommerce website and generate instant quotes, while sales team can utilize their valuable time on growing the print business.

5. AI Handles Low Stock Levels

The Problem:

While web-to-print systems automatically update the stock levels on the storefront, it doesn’t have intelligent capabilities to analyze procurement needs, stock trends and suggest material alternatives.

How AI Fixes It:

AI-based W2P systems can predict future stock requirements to help print providers restock in advance and suggest print buyers with the most cost-effective materials or alternatives when stock levels are low.

Benefit:

Printers can benefit from robust procurement planning and cost optimization, while print buyers can receive precise estimates with options of material substitutes.

6. AI Optimizes Pricing Decisions

The Problem:

W2P systems offers top-notch reporting and analytics tools for printers to check sales performance, productivity and inventory levels, and other popular metrics. However, it lacks the ability to provide real-time insights and predictions into pricing trends that helps with cost estimations.

How AI Fixes It:

AI-enabled W2P systems help to predict the demand for products, analyze past orders, market trends, customer behavior, and production bottlenecks, enabling printers to optimize pricing strategies and unlock cost-saving opportunities.

The Benefit:

This powerful approach will allow new age printers to deliver accurate estimations based on real-time data, prevent misquoting and maintain profitability.

Wrapping It Up!Leveraging AI for print calculations will not only enhance the overall user experience for your print buyers, but also help them make better print buying decisions and boost your profitability.By utilizing advanced print estimating software for printing companies like the ones offered by OnPrintShop, printers can benefit from its high-tech automation algorithms and smart strategies to provide accurate estimates in no time.Currently, OnPrintShop empowers print buyers with AI-enabled tools for design personalization and print buyers with easy product launching process. As we are committed to consistently optimize our web to print solutions, printers can soon expect more exciting AI capabilities from OnPrintShop.If you haven’t explored how our game-changing print estimators are offering calculations with pinpoint accuracy, then request a demo with OnPrintShop today.