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Equipment management is a key part of any construction business. After all, no construction project is getting done without the right tools and materials available on-site.
With multiple projects running concurrently, and a variety of equipment to keep track of, that job isn’t easy. Every delay causes a cascade effect on the project that makes it an even greater stressor.
The right technology can ease that burden. Automation software streamlines the process of tracking and managing your equipment. It connects to your data sources, analyzes them, and delivers actionable information that makes managing equipment easy.
Automation software allows you to manage the forecasting, distribution, and maintenance of key equipment. Here’s how it’s done.
Accurate equipment forecasting
Equipment delays are frustrating. Whether a schedule slipped through the cracks or details were unaccounted for, these errors can happen. Without equipment, the project cannot proceed. Time and money are lost as a tiring process of adjustment and locating the equipment takes place.
Automation software can prevent this from happening. If there’s an asset recorded on an Excel spreadsheet, the software can get to that information. What this means is that the program is constantly aware of exactly what equipment you have available, and what equipment is required to complete a project.
This lets companies log into an automation platform like Briq and get accurate, real-time equipment forecasts. Briq can track your upcoming projects, compare them against your available assets, and show you how much more equipment you need, as well as when you’ll need it.
Automation software connects the real-time data on your equipment availability and needs to make sure you always have the right amount of equipment for your projects.
Being alerted when equipment is available (or not!)
Having the right amount of equipment is only the first step. If multiple project timelines align poorly, equipment delays can happen even with the right amount. For equipment to be effective, it needs to be well distributed, accessible, and available to the right teams at the right time.
Automation software is constantly tracking the data on where your equipment is located. As long as the data exists, it can inform you of the location, availability, and schedule for key equipment. This data can be compared against project timelines to ensure that assets are moving efficiently from project to project.
By tapping into insights on assets at the company level, Briq optimizes your equipment management. Companies won’t need to rent or pay for equipment that isn’t explicitly necessary since everything you have is already in use. Our financial automation platform gives you the information you need to get the most value out of what you already have.
Maintaining equipment before there’s an issue
You can have the right equipment, at the right place at the right time. But if the machine doesn’t work, all that effort is wasted. Maintenance causes problems in the short-term and the long-term. How much will that repair cost? If the history of short-term repairs costs more than a new model, is it even worth it? How will maintenance costs and schedules be handled to prevent this?
Automation software tracks the timelines and costs of maintenance on equipment so that your teams are never caught off guard. This information can get as granular as maintenance on individual components of specific tools. Automation software keeps track of the schedule for you, so you don’t need to worry about losing it.
But we can even take this a step further. The one thing computers specialize in is math. Briq can calculate what the costs of maintenance and repairs will be over time. You can compare this data against the cost of purchasing or renting to make the best financial decision for your business. Briq ensures that your company stays informed on the value of the machines you have, the rate at which it depreciates as per maintenance costs, and the timeline of upkeep. You’ll have the clarity you need to make swift, accurate business decisions on your assets.
How Briq solves your equipment concerns
Our financial automation platform gives you total control over your equipment needs. Briq does this by giving you real-time actionable data on the equipment you need, how to distribute the equipment you have, and the costs of upkeeping your current assets. This clarity is essential in improving profitability, managing cash flow, and keeping your projects on pace.
Ready to solve your construction finance woes? Contact us here for a demo and discover how Briq can help you run a better business.
