Many car owners have a hard time keeping up with changing the oil every 3,000 miles or before such-and-such date; whichever occurs first. (Once upon a time, vehicles cost much less than payloaders.) Routine maintenance prolongs the life of expensive construction business equipment. It reduces downtime. And yes, it’s difficult to remember to schedule, much less track machinery use and maintenance.
Construction Business Asset Tracking Reduces Downtime
Depending on the type of machine and type of failure, the average cost of a breakdown can vary. Regardless of the actual dollar value, it’s always a blow.
Construction companies often share or lease equipment to avoid repair and maintenance expenses. Heavy-duty machinery is quite a liability. Construction business equipment is also an asset that can increase your net worth and provide great tax shelters.
Asset tracking software platforms can be used to trigger alerts about construction equipment. It’s a proactive way to manage:
- Accidents – Breakdowns of certain types of equipment can pose accident risks. Maintenance software can prevent breakdowns and reduce accidents.
- Breakdowns/repairs – Preventive maintenance costs most construction companies between $4,000-$6,000/year. But that’s minimal when you figure a repair on a Manitowoc 10000 crane is about $36,000. If your software can prevent just one breakdown and repair, you’ve covered the cost of the software and maintenance.
- Unnecessary repurchases – You can’t find your tape measure, so you buy another one. You’ve got 3 tape measures “somewhere” in the house. Now consider construction equipment like ladders. You’ve got five ladders “somewhere,” but can’t find them so you buy another one for $600. Equipment tracking tells you what’s where.
- Unused machinery – Unused equipment at jobsites is an unnecessary expense if you rent. If you pay $6,500/month plus additional costs for delivery/service, taxes, and inspection renting a Komatsu PC238USLC-11 mini excavator that sits idle for months, you’ll see how getting a loan to buy and maintain your own saves money.
Like regular maintenance, technology tools are driving the construction industry and business owners to greater profits and improved safety. Construction Monitor is your technology tool that can also increase profits.
To learn more about our customized for-your-demographics data, call 800-925-6085 or contact Construction Monitor.
Construction Monitor blogs are for informational use only. We do not endorse any software platforms (except ours).