Your multifunction printer should include software to help you decode the image. The downside is that you don't get the convenience of a flatbed scanner. Drop the page inside and press a button or two. The printer part of the machine spits out a copy. To dial a number, you use a keypad on the unit, which plugs into a phone line separately from your modem.
Functionality varies from unit to unit.
Some use different ink cartridges for color or black and white. The quality depends on the grade of your printer. Inkjet printing is often cheaper and more flexible, but laser is usually faster and printers a crisper, unsmeared document. This typically means installing an add-on piece of hardware to your existing unit. The upgrade may be more reasonable than buying a completely new unit.