Making the decision to invest in asset management software is daunting at best. The mere thought alone can send even the most level-headed into a tailspin. That’s why it’s important to know the areas you expect a return on your investment. The cost should be offset by the gains.
Let’s face it, paper isn’t dynamic. Workers out in the field are deprived of valuable data that may be crucial to their jobs, such as asset history, plans, condition assessments, and inspection details. Will they be able to accurately write down information while they complete work? What if they perform a secondary repair on equipment that isn’t related to the work order, is that information documented? These are valid concerns that you can’t afford to ignore.
What kind of ROI can you expect after implementing asset management software?
RUNNING THE NUMBERS
You should run basic calculations to determine anticipated savings. Imagine if jobs that once took an hour or longer, could be done in under 15 minutes. Municipalities can leverage automation to cut costs and reduce the demands on staff, allowing them to focus on other strategic areas.
- Equipment information- how much money is spent on maintenance repairs and replacements due to failures?
- Inventory – explore what costs are associated with maintenance related spare parts. Do you often over or under order inventory, and does it affect scheduling?
- Overtime – do you have excessive overtime costs because of unexpected work orders and repairs?
- Downtime – has unforeseen downtime hurt your budget, safety, and well-being?
- Save time – suppose you save 60 minutes a day for 260 working days a year for a technician making $20 per hour. That’s a $5,200 year saving for just one employee.
Picture a world where technicians and managers could complete work faster and more efficiently. Because everyone has a computer in their pocket, electronic mobility has become an on-demand commodity. That’s just one reason to consider a configurable, flexible management solution across many departments. One powerful asset tracking system can decrease and simplify the workload in multiple departments
- Schedule work orders on demand including preventative maintenance, repairs, or schedule routine maintenance.
- One system can have multiple permissions for multiple departments (i.e. public works, streets, buildings, and more.)
- Keep a detailed record of previous repairs, procedures, and images for all assets on your mobile device in the field where you need it.
- Automatic reminders of what needs to be done and when will keep tasks from falling through the cracks.
- Citizens can make requests through a web portal and request are routed to the appropriate department.
- Departments can work together as a team like never before.
- With a few clicks on a mobile device, technicians can send a work order, request an update, and update a preventative maintenance schedule.
EDUCATED DECISION MAKING
Our mobile world of technology is shifting the way things are done in municipalities across the country. It’s not surprising that municipalities are making decisions based on data, not instincts.
- If you track maintenance and labor costs with simple measurements from work order records you can see how much you’re spending on maintenance by the type of work order.
- You can easily compare the cost of new equipment to the current repair expenses.
- Increase negotiation power at budget and council meetings when you have the data to back up your requests.
- Knowledge is quickly and comprehensively in the right hands.
It goes without saying that asset management software provides value to municipalities. It often boils down to the familiar pro’s and con’s list before a big decision. It’s important to consider the tangible benefits by running the numbers to get an accurate ROI expectation.
Call Novo Solutions today for more information about Asset Management Software.