Construction equipment is among the expensive assets a construction company can have, and replacing them can prove financially exhausting for a business. Such equipment includes vehicles and machines that can last long when companies maintain them properly. But continuously conducting maintenance without determining whether it’s time to replace the machines or not can lead to overspending.
Regularly maintaining construction equipment is essential to keep a construction company’s costs from running the business to skyrocket. Equipment maintenance lets companies make the most of their assets while also boosting their resale value. The additional benefits of maintaining assets include minimising downtime and controlling service intervals and costs.
Should construction companies lose their equipment, they could suffer from project interruptions and lose both a positive business reputation and profit.
It is vital to have construction management software to allow companies to track assets that can lead to intelligent forecasting on when you need to conduct maintenance work. Construction management software can also help in recording the profitability of a company’s equipment, assess their depreciation, track the maintenance records of the machine, and create maintenance schedules during downtime.
The Machines’ Profitability
Construction projects have their own costs and revenue that will need to be recorded to know how profitable their equipment is. Having construction management software capable of recording the profitability of a company’s assets, including information on fuel history and consumption, allow the company to make better decisions on how to manage their equipment.
Construction management software capable of assessing each piece of construction equipment whether they help or limit the company’s success can determine whether or not one needs replacement or maintenance in the least.
The Assets’ Depreciation
Some construction management software can help track your equipment’s cost per hour and also give you automated alerts and reports you need to perform routine maintenance. The software can also record real-time information regarding the servicing of a piece of equipment, automating the inventory of your machines.
By being able to track your machines’ costings, you can assess their depreciation and decide whether or not they’re worth keeping. Depreciated construction equipment may need a total replacement instead of extending their operational lives through continuous maintenance work since their maintenance and operating costs would go up.
The Capability to Track Maintenance Records
Maintenance logs are necessary to assess the current status of the company’s machines and construction management software allows for the monitoring of all the repairs done since the purchase of specific machinery.
Being able to track the machines’ records on their profitability, depreciation, maintenance, ownership, cost, and the location is a vital feature of construction management software. Without such functionality, a company wouldn’t be able to determine whether or not their assets would require maintenance.
Creating Maintenance Schedules
Having the capability to assess the profitability and depreciation of equipment as well as track their records through maintenance logs can allow companies to develop maintenance schedules that they can follow easily. Construction management software lets construction companies record preventative maintenance tasks. Included in the recorded information are the dates the machines were used and the miles logged by such equipment.
Without construction software, companies cannot conduct regular preventative maintenance tasks since they lack adequate records of an equipment’s operational life. No records mean no information on when the machine needs to be maintained.
Investing in efficient construction management software can allow construction companies to manage their assets easier than when doing it manually, letting them conduct predictive equipment maintenance before the machines can cause financial damages to the company.
If you’re interested in learning on how your company can get the most out of your construction equipment, contact Bizprac today at email@example.com and let us discuss with you how our construction management software can support all aspects of your construction company’s projects.