Strategically positioned to be one of the foremost print services providers on the African Continent and subsequently globally, Printserve Limited was established in 1994 and over the past 25 years has evolved into one of the foremost printing companies in Nigeria through its ethos of continual and consistent investment in cutting-edge printing technology, and the adoption of Total Quality Management principles aimed at delivering the highest quality of work and the best possible service to its highly-discerning clients. In this Special Silver Jubilee of Printserve Limited, WHERE To Print caught up with Printserve MD/ CEO – Mr. Olawuni Akinlabi who also recently commissioned a brand new Komori GL540 while marking his personal & company’s birthday celebrations; on what makes Printserve thick. His answer forms the fulcrum of this SPECIAL FEATURE SUPPLEMENT OF PRINTSERVE @ 25. Enjoy the read:
CONGRATULATIONS ON YOUR LANDMARK DOUBLE ACHIEVEMENTS: BIRTHDAY CELEBRATION AND COMMISSIONING OF A BRAND-NEW KOMORI GL540 PRESS – TELL US HOW YOU FEEL TODAY?
Thank you for the wishes. I feel good and grateful to God Almighty for His grace.
THE YEAR 2019 IS GRADUALLY COMING TO AN END; AND WITH YOU COMMISSIONING BRAND-NEW 5-COLOUR PRESS, DOES IT MEAN THIS YEAR HAS BEEN GREAT FOR PRINTSERVE?
Generally, the situation of the economy in Nigeria has been very challenging and unfriendly mainly to the Printing Industry. The commissioning of a new machine is not a function of a great year, but a part of our strategic planning towards the future.
WHAT HAVE YOU DONE DIFFERENTLY TO HAVE THIS ENVIABLE PERFORMANCE WHICH OBSERVERS BELIEVE WILL HAVE GREAT IMPACT ON THE PRINTING INDUSTRY IN NIGERIA?
Right from the inception of the business, we set out to make a difference in the industry by investing in highly technological printing equipment backed by well trained and engaged personnel which guarantee highly satisfied clients in terms of top-quality output and timely delivery.
We also run a 24/7 printing press, though at a huge cost, but this has been one unique factor for us coupled with our determination to deliver value added services to our customers. To this goal, we have been committed and persistent.
BRIEFLY TELL US HOW YOU STARTED BUSINESS?
Printserve Limited started in October 1994 by my wife, Wemimo, and I. We started as a small press with two Gestetner 211 single colour A4 machines and grew by acquiring more equipment annually. After a few years, we saw a need to redefine the way printing business was done in Nigeria and to give it a more corporate outlook and raise the standard of the business to International standards and have facilities able to compete with any printing company worldwide. This drove us to set up a One-stop Printing Outfit.
A major milestone in the Company’s operations was achieved in 2002 with the purchase of a brand-new Heidelberg Quick Master 46 Direct Imaging (DI). Thus, the Company took advantage of the advent of Direct Imaging technology in printing which had a significantly positive impact on the printing industry worldwide and in Nigeria, with printing presses able to achieve world-class quality results with consistency, quality, reliability, increased productivity and shorter deadlines.
Rebranding efforts by financial institutions around this period also supported the Company’s growth and acquisition of miscellaneous sophisticated printing equipment and accessories. Consequently, growing demand for the Company’s services led to the acquisition of a five-colour, Heidelberg Speed master SM74-HP3 DI machine in 2004.
In 2006, Printserve Limited embarked on its “Medium Term Expansionary Programme” which involved acquisition of a new 5 colour A1 printing machine (Heidelberg CD 102) and a Pro-setter to support our growing clientele base.
Between 2009 and 2019, we have added more machines, which were acquired, partly financed with the proceeds from disposal of some old machines that had been fully depreciated and with Bank Facilities.
The foregoing strategies and investments have enabled the Company to be where it is today in the Nigerian Printing Industry.
It is noteworthy to state that we started small but with a mind to grow a world class Printing Press. It is also important to say that it was tough starting up and it has been challenging to maintain the momentum.
My wife is the Executive Director and we have both worked together to achieve whatever the business is today.
LOOKING BACK, WHAT WILL YOU HAVE DONE DIFFERENTLY?
For us, everything we have done is a learning curve and so every decision or action taken in the past was based on the level of understanding and the information at our disposal as at then and the ability to take risks. Many times, we made huge mistakes, so it’s not always been success all the while.
THERE ARE OTHER PRINT SERVICE PROVIDERS IN THE INDUSTRY, WHAT MAKES PRINTSERVE UNIQUE?
Printserve is unique because of her People, Culture and Strategy. We have a CAN-DO attitude as an organisation.
WE KNOW THIS IS NOT THE FIRST BRAND NEW KOMORI PRESS THAT YOU HAVE, WHY DID YOU GO FOR THIS SECOND ONE?
We went for the second Komori because of our experience with the first one which include: Durability, User-friendliness, Low Maintenance and User Cost and, of course, fantastic Service Support from their team in Nigeria, PRESSFIX. The guys, Segun Adetayo and Charles Falokun have been extremely cooperative and supportive in the servicing and scheduled maintenance of the Komori.
WHAT ARE THE BUSINESS CHALLENGES IN AN ENVIRONMENT AS NIGERIA, AND HOW DID YOU OVERCOME THEM?
The business challenges in Nigeria are enormous. The major ones include: Funding, Sources of Raw Materials, Customs Clearing, Government Policies, Technological Changes and Technical Know-how. Funding the business is a major challenge and at the moment the commercial bank cost of funds is so high that an average printer cannot afford it. Though we had no choice than to approach the commercial banks for finance but the Bank of Industry stepped in with lower and affordable interest rates.
Also, most of our raw materials and machine parts or inputs are sourced from outside of the country and these things should be given a lot of duty concession to enable the local investor compete favourably with foreign products. Government policies need to be strategically made to promote investments in Print industry. Both Private and Public owned companies should be made to patronize local Press for all their print needs.
In terms of technical know-how challenges, we are in partnership with several organisations abroad, mainly those that have sold machine to us for necessary intervention when the needs arise. They work hand-in-hand with our in-house maintenance team who are also well trained.
Our Executive Director, Mrs. Wemimo Akin-Olawuni, is a financial expert and she planned most of the financial strategies that have helped us to this point. She looks out for cost effective expansion strategies and plans.
WHAT DO YOU THINK ARE THE RED FLAGS IN PRINTING ESPECIALLY IN ACCOUNTING/ FINANCE AND MANAGING PEOPLE?
The Red Flags in Accounting and Finance include Funding, Cash Flow Management and Cost Management.
Red Flags In managing people include: Having adequately qualified people as needed in the business. This predominantly affects the production and sales areas of the business which require people who have technical and practical knowledge of the industry.
Other red flags include retention of people, effective succession strategies for competent and reliable hands.
AS ONE OF THE TOP STAKEHOLDERS IN THIS INDUSTRY, WHERE DO YOU THINK THE INDUSTRY IS MOVING TOWARDS?
The Print Industry is a demand driven industry whose activity is grossly and significantly affected by the electronic media. However, the print industry can never go into extinction but all stakeholders must be alive to changes in the industry most especially in the technology space. Things are changing very fast and all stakeholders must see the future of the industry and prepare for it so that we can take advantage of the opportunities coming with the technology driven printing industry. In every situation, there are opportunities.
AS A LEADING FIGURE IN THE INDUSTRY AND COUNCIL MEMBER OF CIPPON, WHAT ARE YOU DOING TO HELP SUPPORT THE ASPIRATIONS AND GROWTH OF UPCOMING GENERATION (OF PRINTERS)?
Right from inception, we have put in place, a 4-year Training Programme for young Secondary Schools Leavers and every year we graduate new printers in the business and helping the industry. We are working towards integrating the training Programme NBTE and other governmental organisations to add more value to the training.
As a CIPPON Council member, I plan to use the platform to help promote training and many other options and possibilities to help the young and aspiring printers.
IN WHICH AREA DO YOU THINK THE GOVERNMENT CAN ASSIST IN HELPING PRINT BUSINESSES GROW?
The Government can help with Policies that will help grow the Print Businesses in the following areas:
- Financing: Concessional Interest rate for Print Businesses
- Concessional Foreign Exchange: The CBN can also issue a concessional foreign exchange windows for Print businesses since virtually all our input is sourced outside the country.
- Import Duties: Concessions on raw materials’ duties.
- Banning importation of educational books: to help the local printers have more volume of work.
- Revamping of the Paper Mills: in the country e.t.c
HOW WILL YOU BE SUPPORTING THE INDUSTRY IN THE COMING YEAR?
In the coming year, I am looking at participating actively in the CIPPON activities with a view to identifying the problem areas and trying to resolve as many as possible with the other Council Members who, of course, also have the same goal. The area of knowledge sharing and mentorship is also critical.
I would like to work with other members to promote a robust policy framework which would be expanded into a bill that would be sponsored to National Assembly which would foster a new opportunity for printers in Nigeria.
BRIEFLY LET US KNOW THE PLANS YOU HAVE FOR YOUR CUSTOMERS IN THE COMING 2020 BUSINESS YEAR?
To render better and more proactive services.
COMING BACK TO THE INDUSTRY, WHAT ADVICE CAN YOU GIVE TO STAKEHOLDERS – MAJORLY INVESTORS – IN ENSURING PROFITABILITY AND SUSTAINABILITY OF THEIR BUSINESSES?
-Be Customer Focused
-Build A Great Team/People
-Update Your Technology/Industry Knowledge and Business Process
-Control your cost as much as you can
WITH YOUR EXPERIENCE; WHAT ARE THE THINGS AN INVESTOR MUST NOTE ESPECIALLY IN TERMS OF STRUCTURE IN SETTING UP A PRESS?
➢ FINANCE: Always ensure you go for the ‘right’ Source of Fund (Gearing Ratio), put in place the most efficient system of Cash Flow management, Cost Management and Stock Management.
➢ CUSTOMER: Know the target market you would like to serve and determine your mode of serving them for effective customer acquisition, satisfaction, expansion and retention.
➢ BUSINESS PROCESS: Create the most effective and efficient Production Process or mode of operation that will guarantee optimum utilization of resources and business sustainability.
➢ PEOPLE: Ensure you acquire, develop and retain the right set of people for the business in line with your organizational goals.
FINALLY, WE KNOW PRINTING CAN BE HIGHLY DEMANDING AND STRESSFUL BUSINESS, HOW DO YOU RELAX?
Family is critical and I take time to relax with mine.
THANK YOU FOR YOUR TIME SIR
The pleasure is mine.
‘The commissioning of a new machine is not a function of a great year, but a part of our strategic planning towards the future.’
‘We went for the second Komori because of our experience with the first one which include: Durability, User-friendliness, Low Maintenance / User Cost and, of course, fantastic Service Support from their team in Nigeria, PRESSFIX. The guys, Segun Adetayo and Charles Falokun have been extremely cooperative and supportive in the servicing and scheduled maintenance of the Komori.’
‘The business challenges in Nigeria are enormous. The major ones include: Funding, Sources of Raw Materials, Customs Clearing, Government Policies, Technological Changes and Technical Know-how.’
‘The Print Industry is a demand driven industry whose activity is grossly and significantly affected by the electronic media. However, the print industry can never go into extinction but all stakeholders must be alive to changes in the industry most especially in the technology space.’
‘Right from inception, we have put in place, a 4-year Training Programme for young Secondary Schools Leavers and every year we graduate new printers in the business and helping the industry.’
‘As a CIPPON Council member, I plan to use the platform to help promote training and many other options and possibilities to help the young and aspiring printers.’
‘I would like to work with other members to promote a robust policy framework which would be expanded into a bill that would be sponsored to National Assembly which would foster a new opportunity for printers in Nigeria.’
To date, the company is fulfilling its Mission to deliver high quality print solutions to clients whilst setting the benchmark for printing technology in Nigeria, with the ultimate Vision of becoming the leading print services provider in Nigeria and beyond. Printserve is also proud of its position as a training and capacity-building centre for future printers.
