Inflation. Supply chain issues. Omicron. We’ve all seen prices for goods and services increase in recent months and are feeling it in our wallets. But companies in the accounts receivable management industry are feeling the pinch, too, not just in areas like traditional office supplies, but in one of the industry’s most important supplies — paper.
One agency owner relayed that the cost of envelopes — he prints and mails his own collection letters — has increased to $34.99 for a box of 500, up from $20.94 earlier this year. That is a significant increase for an industry that sends out as many letters as it does.
Other shortages are being reported, too, according to published reports. Everything from printer ink to light bulbs are becoming tougher and tougher to find. Securing lighting supplies is taking as much as three months longer than usual, according to the report, which comes at a time that many companies are trying to encourage employees to come back to the office.
Experts are predicting that the cost of paper will continue to into the second quarter of 2022, according to a published report. Prices have already risen 50% in the past year, according to the report.
The higher cost of supplies is being exacerbated by the higher cost of labor that many employers are also being forced to address. New employees are expecting higher salaries and current employees are using the labor shortage as an opportunity to ask for raises, due to the scarcity of talent and the impact that inflation is having on our wallets.
The shortages are being felt everywhere, except for one place — the bathroom. If we learned anything from the COVID-19 pandemic, it’s that we all need to stock up on toilet paper.