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Schedule a DemoFree demos are available for all CM Fusion accounts!
March 25, 2022
How many trowels should we order?
Is the bulldozer at the Liberty site, or the job on 12th and Main?
Didn’t we just buy two reams of printer paper?
If you've been in the construction industry for any length of time at all, you know just how tricky it can be to keep track of your equipment and supplies. How do you know where everything is, what you need to order, or what tool or piece of equipment may have gone missing?
If you're weary of managing your construction assets the old-fashioned way, we can help.
In this guide, we will look at asset management software for construction companies and why it is an essential part of managing your overhead and costs.
CM Fusion is a simple, flexible construction management software. Our platform is:
With CM Fusion, it is easy to:
CM Fusion keeps all your project data synced and accessible at any time — and from any location.
Assets in construction include anything that may be required to complete a project.
Construction assets come in a variety of shapes and sizes. They include things such as:
Asset management in construction gives companies the ability to monitor and manage their items of value for each project.
It can be divided into two aspects that take into account the life cycle of a construction asset:
In many construction companies, asset management is something that is completely overlooked, or not treated with the seriousness it demands.
It's far too easy to procure assets without managing their use or condition.
By properly managing each of your assets, your construction company will ensure:
Asset management software is a management tool used to track and record each asset owned by a construction company. This includes tracking the item’s:
Asset management software allows team members to know:
Let's take an up-close look at eight ways asset management software for construction can enhance the efficiency and productivity of your construction business.
Keeping track of which tools and equipment are at which site is vital for reducing losses on construction sites.
As your assets are …
… asset management software for construction allows you to track each and every piece of equipment. You'll not only know where it is, but you will also be able to see exactly who is using it.
Some asset management tools even use QR codes, so the tools can be checked in and out of job sites, making it easy to manage multiple sites simultaneously.
When you think of asset management, keeping track of your large machinery, such as excavators or hydraulic shovels, may be the first thing that comes to mind.
But do you ever get tired of buying replacements for missing screwdrivers and hammers?
Keeping track of your small tools is just as important as monitoring your heavy equipment and, in many ways, much more challenging.
Small tools and pieces of equipment are easily lost, and it can be difficult to come up with a workable way to organize them.
Construction asset tracking can help.
Making your team aware that these assets are tracked helps ensure that they stay accountable — and that they take the time to secure all tools at the end of the workday.
Another great benefit of asset management software for construction is the ability to track the maintenance performed on each item.
When you have consistent, automated maintenance and repair schedules set up for every one of your company’s assets, it is easy for anyone with access to the data to know what needs to be done in any given situation.
Construction asset tracking allows you to not only easily store service records, but also to retrieve them using QR codes.
Asset management software for construction allows for the real-time monitoring of the condition of each asset.
This means you’ll be aware of the asset’s condition — and its long-term depreciation schedule, making …
… far easier and more accurate.
Construction asset tracking helps decision-makers strategize on when to sell or replace equipment that may be starting to cost more than it’s worth. It also enhances the safety of your projects, since older machinery and tools can often pose greater safety risks.
If you’re looking for a way to know …
… you’ll be a huge fan of the inventory aspect of asset management software for construction.
Asset management software allows you to manage your company’s assets from acquisition to retirement by tracking:
And it enables you to keep track of both consumables and high-ticket assets – all In one centralized location.
If you've been in the construction industry for more than a minute, you understand that theft is a very real issue — and thankfully, one that can be greatly remedied through the use of construction asset tracking.
According to the 2016 Equipment Theft Report based on data from the National Equipment Registry and The National Insurance Crime Bureau, construction site crime runs an estimated $300 million to $100 billion dollars annually — with one-third of construction companies reporting theft.
When contractors and laborers have to scan tools in and out, they’re not as likely to walk away with them. Tracking assets — from the bulldozer to the nail gun — improves the security of your job site, while protecting your operating capital.
Most construction projects exceed their estimated completion time.
Using construction asset tracking can also enable you to see where your equipment is and what it's being used for.
When you're able to effectively monitor the use of an asset, you can better predict when it will be available for the next job.
Do you know how old is each piece of your equipment is and how much time remains on each original warranty?
Have you felt the sting of failing to get a piece of equipment in for a full inspection before the warranty ran out?
Asset management software for construction enables you to easily monitor which tools and equipment are still under warranty, so you can make sure you spend your time and money on only the assets that are truly in need of attention.
And you can rest assured that you’ll never miss another warranty deadline again.
Do you want to make sure you're getting a good ROI on your assets?
Look no further than CM Fusion.
Our construction management software makes it easy for you to …
… with just the click of a button.
Not only do we help you take charge of asset management, but we also simplify:
Our software benefits everyone in the construction business, including:
With CM Fusion, you can manage all your projects in one place, from anywhere.
And since we are cloud-based and mobile-ready, every member of your team is just a few clicks away from the exact information they need — when they need it.
Let us show you how much easier managing your construction business can be.
We offer a 30-day free trial so that you can try us out at no cost to you. We don’t even require a credit card.
What are you waiting for? Give CM Fusion a try today!
Try us out completely free for 30 days - no credit card required.
CM Fusion is cloud-based construction management software for general contractors.
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