Being involved in the construction arena invariably means working with heavy equipment. And in this context one has to acknowledge the difficulty that construction site authorities face when it comes to managing all those heavy equipment. It is perhaps this difficulty in managing heavy equipment that has given rise to the popularity and demand of the asset management software ion the construction arena.
What Is Asset Management All About?
Now, the very first question that must be knocking your heads right now is what is the asset management software all about? Well, to begin with, as the very name must have made it clear that asset management refers to managing of those objects that are valuable, in short assets, for an organisation. Now, purchasing particular equipment, deploying it, maintaining it and keeping a note of its whereabouts is not an easy thing to do. And this is where the entire asset management deal comes in. This system not only makes the entire deal of managing assets easy, but also reduces the chances of them being misplaced or stolen or the like.
Asset Management and the Arena of Construction
If the statistics of the National Insurance Crime Bureau is taken into account, one can easily see that around 11,000 heavy equipment get stolen every year with the recovery rate being as low as 21%. Now, as heavy equipment form such a part of the entire construction industry, one could easily assess the loss that comes equipped with misplaced or stolen construction equipment. This is perhaps the biggest reason why asset management has become such an important part of the construction industry. Not only does the use of asset management software help in reducing costs, it also acts instrumental in improving information availability and customer service.
Asset management allows you to coordinate your scattered fleet geographically, thereby, reducing the cost of operation quite significantly. Operating an entire construction site is no easy a deal and when there is extensive paper work involved, you can be assured of the entire business getting as gruesome as possible. But by means of the electronic trip orders, the construction organizations can efficiently manage and organize assets, manage projects, coordinate with those involved in the business, drivers, operators and the like and thus, handle things efficiently.
With asset tracking and management tool, you can remain close to your equipment even when you are far from it. The system has been designed in a manner so as to alert you as soon as the heavy equipment leaves their designated position. This allows you to save quite a lot of time that would have otherwise gone into tracking the equipment manually.
Hence, one could easily conclude the asset management tool to be quite an asset in itself in the construction area.