When you're running a business, you're expected to do six different things at once. But should your printer do the same?

Sure, why not?

What is a multi-functional device?

Working as a printer, copier, scanner and often a fax in one box, a multi-functional device (aka MFD or all-in-one) is a compact solution for a business that's short on space and cash.

Although all-in-ones have been around for a few years now, there used to be a catch: while they did it all, they did nothing exceedingly well. The end result was mediocre at best.

The times, they are a-changin'. The following advances make the all-in-one a more worthy consideration for more than just the home office:

Latest advancements in MFDs

Platen-based copying and scanning.
Primitive and lower-end MFDs justified the claim of "copier" by calling a duplicate of an original sent through the fax feeder a "copy." Today's platen-based, or flatbed, machines are more honest.

Not only can you make copies the "real" way by laying your original on the platen glass, but you can also copy, fax, and scan items that would never fit through a feeder, like books or magazines.

Plus, most models let you scale your copies around a respectable 50 to 200 percent.

Laser printing
As laser printer prices have dropped while their print speeds have increased, so have those of their MFD counterparts.

These days, you can get a six-page per minute laser-printing MFD for under $400, not the thousands you would have paid a few years ago. Although you can't yet have color laser at that price, a color ink-jet model can afford you near-laser results.

True multitasking
Unlike earlier models, today's MFDs are increasingly capable of multitasking - printing while faxing, receiving faxes while scanning, and scanning while printing.

Not all MFDs come with built-in fax capabilities, though; you may have to install fax software on your PC to compensate.

Ease of use
Using multiple capabilities can mean switching between different types of software each time.

Many recent models - but be warned, not all - feature intuitive control panels that help you move between functions without consulting tricky manuals.

Lower prices

Expect to pay $350 to $800 for a good color inkjet or a black and white laser model, versus the $600 to $4000 you would have paid three years ago.

Color models can give you a monthly output from 500-3000 pages, while their monochrome counterparts can deliver up to 10,000.

If your business handles over 10,000 pages per month, however, you may want to consider a digital MFD -- also known as a digital copier -- which can run between $5,000 and $12,000.

Still not perfect

All-in-ones do have their shortcomings, though.

For one thing, their individual functions are rarely upgradeable - for example, getting a higher-quality scanner will require a separate purchase.

And you may not be able to use that with the MFD's existing functions, like its fax machine. Plus, you can't get around the perennial drawback of having multiple machines in the same box-- if one part breaks, you're out the other functions as well.

But drawbacks aside, these jacks-of-all-trades are getting ever closer to being masters of … some.