Learn how a tool management system like ToolPal can save you time and money. Track tools, audit job sites, conduct maintenance.
#1. Accountability Is Key
The largest cause of asset loss, damage & mistreatment is due to a lack of accountability of who is responsible for your assets.
When the process of assigning an asset to a person is difficult and time consuming, such as adding an entry to an excel spreadsheet, this process will rarely be adhered to, even by senior employees.
With modern asset management systems such as ToolPal you can use your smartphone to update assets on the coal face and in real time to assign assets to a responsible person.
Everyone has a powerful asset scanner in their pocket, allowing for a simple and effective business process that works because its simple!
#2. Traceability improves productivity
Often when an asset register is out of date or there is no asset register at all, it can be next to impossible to attain the whereabouts of an item. This can cause huge headaches for staff and often involves a ‘ring around’ to 10+ people who may know the assets whereabouts- wasting huge amounts of time. In many cases an untraceable asset is hired – wasting huge amounts of money.
Having an asset database which is audited and updated in real time where staff can easily search and find assets saves huge amounts of time and effort. ToolPal can store contact details to allow for a direct dials right from the asset page to the asset owner.
#3. Preventative Maintenance made easy
Keeping track of when assets are due for scheduled servicing, calibration, test and tagging and the like can be very difficult, especially when assets are in multiple locations and changing hands regularly. Similarly keeping records of this maintenance can also be difficult especially when it needs to be located in the future.
Good asset management software will automate the reminder and scheduling process so you don’t have to worry about looking through a list of upcoming dates. The responsible person for that asset will be notified along with other designated staff. Service logs and other information can be instantly uploaded to each asset from a smartphone or computer keeping one central record.
#4. Planning & cost allocation
Keeping tracking of asset purchase dates, costing them to jobs & calculating depreciation can be next to impossible without the right data. Typically large numbers of small value tools are purchased onsite and are not ever entered into asset management systems. It’s also extremely hard to cost tools to individual jobs when large amounts of these tools are arriving on site.
With cloud based asset management software its extremely easy to get an audit history of an asset to see where it has been, on what jobs and for how long. With a real time list of company assets at your fingertips you can easily plan for upcoming jobs by knowing what you actually have, where it is and if its due for upcoming maintenance. Have a modern cloud based asset register like ToolPal can also reduce your insurance costs!
#5. Audits in a flash
Most companies audit their warehouses, job sites or storage containers infrequently because the process is highly time consuming and the reconciliation process between a list of items on a clipboard to the computerised asset register is a nightmare.
In some cases ToolPal has regained companies months of time in in a single year in labour costs by reducing the time it takes to complete asset audits by one tenth! When staff are able to scan a jobsite and take an average of 10 seconds to log the location and condition of an asset it is a massive time saver.