A Success Story
Lisa (pseudonym) is an owner of a medium-sized startup that has recently received funding from an accelerator program. Her company provides machines to other companies on contract, where her employees also have to take care of those machines at monthly intervals. Ever since receiving the investment, she has seen her clientele expand in a matter of a few months. Lisa is happy and so are her employees. One fine morning though, Lisa is going through her employee’s track record only to find that the dissatisfaction of her clients has gone up despite the increase in the number of clients. This is a problem that she knows is going to have adverse effects on the company in a matter of months. She has to act quickly and so she calls for a management meeting. During the discussion, her employees express the issues that are creating the bottlenecks for asset management and the most prominent of them is the fact that there is not enough manpower to take care of the needs of all their customers. For most bosses, the first reaction expected from her is to snap at the complaint of her employees. But she remains composed. Indeed, with the investment coming in, they have expanded their operations across multiple areas of the country with many more clients that need to be satisfied - this is not an easy task. Keeping this in mind, and also keeping her budget in mind, they decided to go digital - not just through spreadsheets and online documents, but also adopting a system at the heart of their organization that would become the source of truth and their north star.
What's So Special?
Asset management is when you take care of the products/machinery that you own or your clients own through timely maintenance services. We reached out to one such company that deals with asset management and here is what one of its key personnel had to say:
“Asset management requires a lot of labor...or at least that’s what we used to believe until we stumbled upon an asset management application that lets us scan a ton of assets with simple RFID scans, assign job orders to relevant parties based on the due date of asset maintenance, set reminders for third-parties, keep a performance track record of machinery, and use an easy to use system that lets users update their work status at the click of a button. Everything has become much easier for us and it is actually quite amazing to know how technology makes such a big difference.”
5 Reasons To Go Digital
According to our conversation with the key business personnel, there are 5 value propositions that make a Field Service management app valuable for your business.
RFID scan: When you have multiple pieces of machinery that you have to keep track of, it can become quite a tedious task. Moreover, the entire work can be time-consuming. With an RFID scanner, you can simply scan the barcode and all the relevant data related to the products can be viewed on the system.
Maintenance reminders and job orders: Perhaps some machinery is used more than others in your organization. How do you identify this? The asset tracking software will keep track of each and every type of machinery that is being used and the frequency of their usage. Based on the maintenance dates set based on the level of activity from each asset, a direct job order will be sent to the responsible party instead of setting reminders for managers. That reduces one more step in the decision-making process - less bureaucracy, more efficiency.
Asset contracts: Does your business have third-party machinery involved? Maintaining SLA with other clients will no longer be an issue because the field service tool will keep detailed updates on assets and maintain fluent communication with the individuals in charge and ensure a smooth process.
Analyze asset performance: Not all products perform the same way. For this reason, a frequent update on every asset that you need the information will be given to you for effective and efficient decision making. For example, perhaps your company has 10 air-conditioners working 12 hours a day. However, not all of them work the same way. Some have more downtime than others. With insights on the uptime and the downtime of each asset, the software will be able to give you a true depiction of the current scenario for all of your assets thus making asset management less tedious and enable you to make better informed decisions.
Instant update: After the completion of a task, the field service agents will be able to update it via the system and in real-time ensuring the supervisors/admins are informed.
Got The Formula?
Asset management can be daunting for companies dealing with many clients but it does not have to be that way. An asset tracking software can become a game-changer for any organization that is looking to boost its efficiency and avoid any sort of human error in the process. What plans do you have to make your asset management a winning formula?
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