5 benefits of asset tracking that reduce project costs

Think about your construction sites.

Everything from vehicles, earth moving equipment and material handling machines to engineering tools enable your projects to be productive - so long as they are accessible to the right people at the right place and time.

Asset tracking software, like EROAD Where, allows you to locate these tools and equipment to help your workers utilise them onsite in a cost-effective way.

To help you get the most out of asset tracking, here are 5 benefits to reduce project costs.

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The benefits of asset tracking that reduce project costs

Asset tracking streamlines the way you monitor and manage assets, which can assist in accelerating your operations and reducing the risks of incurring additional expenses.

This can lead to higher returns and project value while maximising client satisfaction – all because your team are able to access and track the tools they need, when they need them.

Here’s how:

1. Asset tracking allows you to focus on growing your projects.

It can be difficult to expand your construction projects if you are already busy trying to manage your assets manually. Instead of looking for more opportunities or increasing productivity, your team are busy trying to find the P&E needed each day.

This is going to increase costs, waste critical resource time and potentially halt your operations.

Asset tracking solutions support the growth of your projects by saving you precious time, effort and money trying to deal with misplaced and underutilised tools and equipment.

2. Asset tracking equips you with accurate and important asset data.

Through asset tracking, you can easily determine which assets need to undergo maintenance, repair and replacement.

This is a smarter approach to help you prevent unexpected downtimes and delays that can result in higher operational costs and lost profits for your projects.

3. Asset tracking helps you assign tools and equipment to sites effectively.

Asset tracking allows you to allocate assets to multiple job sites over specific timeframes so that you can guarantee that no tool and piece of equipment will be underutilised.

With this, you can be assured that you’re maximising the use of every single asset to offset the taxes, storage and maintenance fees you’re paying. You can also increase the capacity of your operations when assets are assigned effectively.

4. Asset tracking ensures you’re at the forefront of industry standards.

Ensure transparency and coordination amongst your team by implementing an asset tracking software with cloud-based technology that can store and organise information in one place.

With asset tracking software, every project management team is now more capable of making accurate decisions when it comes to handling tools and equipment.

5. Asset tracking aids in managing expenses and billing.

Asset tracking makes it easy for you to control unnecessary asset expenses and improve asset utilisation. By knowing where your assets are, you can avoid the unnecessary costs of hiring replacement equipment when the assets you need are currently at another site nearby and could be easily transferred for the work you need them for.

Asset tracking is also useful when it comes to the delivery of proof of service and customer billing.

The nature of many construction projects involves having a wide range of assets that move from location to location as needed. Unfortunately, this can be quite challenging and expensive – especially when tools and equipment get lost in the process.

Asset tracking software solutions like EROAD Where transform how you track and manage assets to help you maximise efficiency and productivity, while avoiding unnecessaries expenses and resource costs.

Want to learn more about asset tracking?

Experience the benefits of an effective asset management solution with EROAD Where.

EROAD Where modernises asset tracking and asset management by replacing outdated paper-based systems and manual excel sheets with easy-to-use asset tracking software.

The Where solution meets your operational needs - helping you achieve greater asset productivity and efficiency while you focus on managing your business.

To get started, simply purchase your first box of 10 trackers today!

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