Why Implement Construction Equipment Asset Management?

Construction equipment asset management is evolving day by day. In the past, asset management would take huge chunks out of your time, but nowadays, time is just as, if not more valuable than money. 

Construction deals heavily in tracking multiple projects, which are often located in different areas. Manually tracking each individual asset can be a burden of a task-one which will naturally contain a large number of human errors. 

This is just one of the areas where construction equipment asset management can help – say goodbye to all your equipment related worries!

After all, at the end of the day, your tools and equipment form the bread and butter of your business. By keeping a close watch on all of your assets you can ensure that they keep working smoothly in every scenario.

However, that’s just a rough rundown of using asset tracking for construction equipment asset management. Continue reading to discover more of itemit’s numerous benefits to your business.

One of the greatest hurdles faced by a construction business is simply locating assets. Though this may seem like an insignificant task, the average run-of-the-mill construction worker spends nearly an hour and a half every day simply looking for equipment. What that means is that in a nine-hour shift, the average worker ends up wasting roughly 17% of their time. 

This wasted time accumulates- for a construction company that has around 70 people working at a time, the figures multiply to around 105 man-hours per day! 

If reinvested productively, the sheer amount of time saved can give you ample opportunities to either take on new projects or alternatively get done with existing projects quicker.

Using construction equipment asset management software helps you accomplish just that. By taking advantage of itemit asset management software, your workers can locate the tools and equipment they’re looking for in the blink of an eye. 

All you have to do is search for the equipment on itemit’s smartphone application, and just like that, you’ll have the location of the asset and its assignee in just a few taps. This can cut down the time spent searching for tools and equipment exponentially!

Now here’s where things get interesting. Those 105 man-hours we mentioned earlier? Those are all paid man-hours. NOw assuming that you’re paying your workers £20 per hour, your business is wasting nearly £2000 daily.

Imagine the possibilities if you saved those 2000! Using itemit for construction equipment asset management can allow you to do just that. by minimising the time wasted, not only will you be boosting productivity, but also cutting cash outflows.

While helping you save time, itemit’s tools and equipment management software also help you save a great deal of money. However, we’ve only described one possible scenario of how to save money. 

itemit gives you a clear overview of your entire equipment asset’s inventory. This can help prevent duplicate purchases, as you can easily cross-check which tools you need to buy and which ones you don’t. This way, equipment tracking allows you to save money directly.

A nifty feature that comes with itemit’s construction equipment management software allows you to assign individual tools to users. 

By employing this Assignee feature, your workers will feel more responsible for the equipment-promoting a sense of accountability and transparency among your employees. This will lead to your assets being well-maintained and handled more safely, improving their lifespan.

Furthermore, without sufficient infrastructure to assign equipment to workers, there is no way of who’s using which tool. In such situations, the employer has no idea where and how the company’s equipment is being utilised, and asset misplacement becomes commonplace within the business.

The rugged nature of the construction business means that issues springing up here and there is the norm. Using itemit’s construction equipment asset management software, you can deal with these issues in a timely manner.

With issue reporting, employees can report an issue in equipment as soon as it is noticed. By reporting issues via itemit, the concerned personnel can get on with resolving the issue as soon as possible, and the downtime of assets will be minimised.

Due to this reason, issue reporting is often said to be one of the most useful features in tools tracking software.

Last but not least, using construction equipment asset management, you can create reminders for asset maintenance. This way, you can rest assured that you’re always on top of your assets and maintaining schedules.

Using itemit has countless benefits. Whether you want to employ RFID asset tracking, book assets in advance, report issues or simply create and use an accurate asset register, itemit is the app for you.

Not only does it come with an array of standout features, but itemit also features impressive scalability, allowing you to use it for any purpose. 

To find out more about itemit’s construction equipment asset management software, you can book a demo here. You can also contact our team at team@itemit.com. We look to resolving any queries that you may have!

Alternatively, if you wish to gain some hands-on experience with itemit, sign up for our 14-day free trial below!

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