Reduce The Cost Of Your Asset Maintenance And Repair

Maintenance and repair of assets. can often end up being a costly and time consuming procedure. Manually checking and repairing your assets could take up a considerable amount of time per month, translating into heft yearly sums. Manual work isn’t the only way a company can lose money through M&R (maintenance and repair), missed damage protection plan coverage, unknown manufacturing defects, recharges and administration costs can all cost company money.

Take these examples: manually monitoring turn-time would take around 5 days per month, translating into approx £3,000 per year. Unkown manufacturing problems can also be expensive - if you estimate 2% of 10,000 units has an unspotted £100 defect, this alone would cost £20,000 per year.

So how can you effectively manage your maintenance and repair process in a way that drastically reduces operational expenditure?

The ideal solution would be comprehensive asset management software, which will cut down yearly expenditure via detailed and comprehensive asset tracking. Using this kind of specialist software would allow companies far more effienct usage of their assets - minimising downtime of any leased or owned equipment. Asset management software can also provide you with several automated functions, including providing automated reports which are capable of re-allocating costs from third party suppliers to the end customers, and automated monitoring of equipment turn-time, ensuring they’re always ready to go for the next job. This kind of software can also keep your damage protection plans up to date, tracking and updating all available policies automatically.

Dedicated and specialist software for the cost effective management of fixed assets can only serve to improve the profitability of any company, providing them with an extra edge in an increasingly competitive market.