Maintenance is an important part of asset management. When asset management is neglected, it can lead to deadly consequences. A medium or huge-size organization is equipped with assets in abundance.
Maintenance tool software is beneficial for asset-intensive organizations. Lots of organizations have no proper solution for asset maintenance. When an organization does not provide asset maintenance regularly it leads to consequences such as asset breakdown, delay in production customer disappointment.
We know an unsatisfied customer has started looking for another production. What is the solution to these issues? The solution is maintenance tool tracking software. It is effective when an organization struggles with maintenance. Moreover, it provides several other benefits as well that we will be discussing further in this blog.
What Is a Maintenance Tool Tracking Software?
A small size organization has limited resources, that is why spending money smartly is essential. This is one of the initial goals of all-size organizations is to increase return on investment (ROI).
Maintenance is one of the most underestimated parts but in the long run asset maintenance is one of the expenses that can be avoided with maintenance tool tracking software.
Also Read: Benefits of Implementing Maintenance System in Your Business
A maintenance tool such as CMMS not only helps in scheduling maintenance but also plays a crucial role in decreasing maintenance expenses.
CMMS is a maintenance tool tracking software as it enables you to schedule maintenance and you can also keep records of maintenance.
It means that you can check which asset is provided with maintenance and which asset maintenance is due! In simple words, you can track maintenance along with maintenance expenses & spare parts used.
What Are the Benefits of Maintenance Tool Tracking Software?
Benefits of maintenance tool tracking software are discussed below:
1. Schedule Proactive Maintenance
One of the most essential features of maintenance software is preventive maintenance. It enables the maintenance manager to schedule maintenance before the asset breakdown occurs. Preventive maintenance can help in stabilizing and boosting asset performance.
Most importantly it can assist in decreasing maintenance expenses and help in decreasing downtime as well. It optimizes asset lifespan as it continuously monitors asset health.
2. Complete Maintenance Information
When a process is automated you can create a complete list of all your assets and put information in the system & putting all information in the system.
After that magic of automated software begins as it will analyze data and schedule maintenance for each asset, and it will send the maintenance team alert about upcoming maintenance work.
Also Read: How to Optimize Operational Costs Through Breakdown Maintenance?
3. Create Maintenance Work Order Checklist
The system creates a checklist for each work order of maintenance. It is very helpful for the maintenance team as they do not have to waste time in order to find out the issue.
With the checklist feature, the maintenance team gets all the activities mentioned that need to be performed.
Sometimes they forget a few activities when they work manually or under pressure to complete a work order quickly. But with the feature now they can perform activities without forgetting any work.
4. Automated Maintenance Reports & Analytics
Maintenance reports are very effective in terms of increasing return on investment. For instance, it lets you know about assets that are taking more maintenance than required, or which are taking less. So, after that, you can either optimize assets or sell them.
Reports provide a complete picture of asset performance through which you can find unproductive assets or assets which are not utilized in your business.
With the help of analytics, you can know where you need to invest in order to improve the productivity of your business.
Why Is It Important for Small Organizations to Utilize Maintenance Management Tools?
Small organizations believe that they do not have lots of assets and they can manage manually. However, it turns out to be a huge mistake. They track their assets & inventory manually.
As a result, when they want to use their assets, it is not at the location mentioned so business suffers from loss & delay in business operation as well.
Similarly, inventory mentioned in the excel sheet (manual) and when checked physically inventory is much less than expected. It can lead to a shortage & hindered daily operations which means business loss.
That is why it is important for all-size organizations to invest in automated software such as maintenance management software.
According to the Verified Market Research, “CMMS Software Market was valued at USD 0.92 Billion in 2019 and is projected to reach USD 1.77 Billion by 2027, growing at a CAGR of 8.58% from 2020 to 2027.” It means a lot of organization believes in CMMS software & they are investing in it.
It does not matter how big or small your organization is! It is better to invest a small amount today rather than spending a huge amount tomorrow. The maintenance tool tracking software saves your organization from unnecessary expenses and keeps track of assets.
You can also know how much improvement is done so far with the software reports & analytics. Furthermore, maintenance tracking software prepares you for the future by showing forecasting.
For instance, you know how much inventory you will require in the future for maintenance purposes!
An asset management software keeps all your asset information centralized & another benefit is that it comes with cloud technology. With cloud technology organizations do not have to worry about data security.
Furthermore, top management can access the software from anywhere across the world and make a change in the workflow as per requirement.
Also Read: How Does Equipment Inventory Software Is Beneficial to Small Businesses?
Frequently Asked Questions (FAQs)
1. How you can increase return on investment with CMMS software?
With this software you can get real-time data and analytics that help in optimizing asset performance, life expectancy increases & maintenance expenses decrease. All these factors lead to increased return on investment.
2. Does this software come with a mobile feature?
Yes, it does! This software comes with mobile technology along with cloud technology now you can access it and makes changes on the go! It makes you more productive as organizations do not have to wait for approval physically. The mobile feature keeps you going and doesn't need to wait for approval.
3. Why forecasting & asset performance are important factors?
Because in the end, it is all about profit & loss. If an asset is performing well then it means that it doing well & taking less maintenance which is good for business. Whereas, forecasting enables you to predict expenses of future such as how many inventories you will require in next month and so on!