Why You Need Construction Equipment Asset Management Tools
Why You Need Construction Equipment Asset Management Tools
Construction equipment asset management tools will revolutionise the way you manage your critical tools and equipment. Implementing robust asset tracking operations allows you to:
- Save time
- Save money
- Lose fewer assets
- Track your maintenance
- Track asset locations
- And more!
When you track your assets with construction asset management tools, you get an automated, robust, and transparent asset register, ready for reporting, tax, and insurance procedures.
What Is Asset Tracking?
Asset tracking is a set of disciplines where you’ll log your assets as unique digital profiles and add data to them. In other words, you’ll be able to log each of your tools onto a digital system.
You can then add information to them. This information won’t be limited, as you’ll be able to add any attachments, important dates, and warranty information.
Overall, you’ll create digital doubles of all of your assets. Then, on these doubles, you’ll be able to log any changes that take place. This is similar in principle to using a spreadsheet to track your asset data, but it’s much faster and much more effective.
Why? Spreadsheets can create gaps in accountability due to the manual processes required and the high chances of human error. An automated system circumvents this, saving you time and money while also giving you a more transparent process for asset management.
Asset Management Tool Features
You’ll be able to use many construction equipment asset management tools to monitor any asset changes. These features are built for purpose, meaning that they guarantee time and money-saving benefits.
For example, you’ll be able to use your asset management tools as equipment checkout software and apply this to when assets require downtime, when they’re checked out to colleagues, and when they’re rented out to external businesses.
Construction equipment asset management tools have a focus on saving you time. Therefore, you’ll be able to make use of multiple time-saving features.
The best way to save time on your construction equipment tracking is by using asset tags. Asset tags are physical tags that you stick onto your tools and equipment. You can then link these tags to your asset’s digital counterparts.
Every time you scan an asset’s tag, a few things happen. First of all, the last seen location, the user who scanned the tag, and the time the tag was scanned all updates in your asset’s profile. Secondly, the asset profile opens, ready for edits.
In practice what this means is that if you spot an asset that requires maintenance, the process of logging it is as simple as scanning the asset’s tag and then hitting a button. The last seen location features then show you where the issue was reported and by who.
More accountability gives you a wide range of cost-saving capabilities. First of all, as you get a neat and transparent audit trail of your assets’ movements, asset retrieval is faster, saving you money on petrol costs.
As you get an effective equipment asset register, too, you save money on your financial operations. You will be able to export all of your assets’ data in a quick and easy way, ready to be sent on to insurance auditors.
Using a few features, you can increase this accountability further. For example, you’ll be able to assign assets to your colleagues, giving you a neat view of who is responsible for which assets.
This all reduces the chance of gaps in your construction equipment asset register. When you have fewer gaps, you lose fewer assets and you purchase fewer duplicates, allowing your business to save money that would otherwise be lost.
Additional Construction Equipment Tracking Software Functionality
For your bigger assets, you will even be able to improve your location tracking capabilities. While all assets can be logged as in a certain location and while you can track those assets’ movements, you can also use GPS asset tracking on larger tools and equipment.
GPS asset tracking is a construction equipment asset management tool where you can stick GPS trackers onto your assets. Your GPS trackers will update periodically, logging in your asset management software where your equipment is.
This is just another one of the many ways you can keep a much clearer eye over your entire asset register as you can even combine this type of tracking with asset tagging processes.
Scaling To Fixed Asset Management And IT Asset Management
As you’ll be able to place your assets in collections, you will also be able to track your assets separately and in bulk. This means that you can have a full fixed asset register without the risk of ghost and zombie assets.
You can use the same features for different purposes, so in terms of hardware asset management, you’ll still be able to assign your kit to your colleagues to mark who is responsible for what.
Then, if you’re onboarding, it’s a quick and simple process to view which assets are unassigned and, therefore, available to give to your new starters.
itemit’s Construction Equipment Asset Management Software
itemit’s construction equipment asset management software is unique. This is because it’s the only software that allows you to combine a wide range of asset management tools and capabilities.
itemit’s system is built on feedback from a wide range of industries, including construction, which means that the software is guaranteed to work for your construction equipment asset management and your fixed asset tracking.
Overall, itemit’s construction equipment asset management tools are effective at saving you as much time and money as possible. To find out more about itemit’s asset tracking software, you’ll be able to contact us at email@example.com. You can also fill in the form below to start your 14-day free trial and see the software for yourself!
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