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.
Construction Equipment Asset Management Saves Time
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!
Construction Equipment Asset Management Saves Money
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.
