3 Benefits of Managing Work Orders Using Asset Tracking Software

We all understand the importance of staying on track and meeting deadlines. However, when employees have to juggle a multitude of tasks every day, something important usually gets left out. Such oversights and delays in projects have the potential to aggravate costs and damage brand reputation. In fact, 1 in 6 businesses overrun project costs by 200%, with an average overhead cost of 27%! In the competitive market, these costs can make or break a business. To overcome such hurdles, businesses adopt a number of productivity and management tools that help them stay on top of their employees, equipment, and tasks. This blog will detail how having a work order management module in asset tracking software can benefit businesses.

Better Resource Allocation

Organizations often end up allocating too much attention and resources to a meager 20% of their tasks and equipment management. What this essentially means is that the majority of assets and equipment are ignored and left to inflate running costs and lower productivity. This is why scheduling, tracking and reporting on work orders is so important. These features allow businesses to efficiently distribute resources and time to ensure that nothing gets missed.

The reporting features of tracking software on work orders are equally important in realizing employee productivity and utilization. Businesses can use insights from these reports to distribute employee workload by delegating more tasks to some employees and less to others. Additionally, you can easily compare the time it takes employees to complete tasks and consider reassigning tasks for maximum productivity. Reports also help in identifying any deliverables that are behind schedule.

Better Team Collaboration

According to a study by the Project Management Institute (PMI), effective communication is crucial to successful project completion. The report states that US$75 million is at risk for every US$1 billion spent on a project due to ineffective communication alone. Keeping track of work orders can be a difficult task especially for large teams. This is why it’s necessary for businesses today to have an effective asset management solution that improves team collaboration. You can use an online asset tracking software to create work orders and assign them to employees.

Using the work order management feature you can effectively communicate jobs to employees working in different locations and track their progress. Managers do not need to separately follow up on tasks assigned to employees but can easily use the app instead. In fact, they can receive automatic updates on the status of work orders and take required actions. The ability to instantly access the online asset tracking system also makes it easier to schedule and supervise off-location work orders. Therefore, the software helps businesses achieve faster response times, better communication and subsequently, better project execution.

Better Equipment Maintenance Management

Asset tracking software is a brilliant way to organize and track assets. The best tracking software offers a comprehensive solution that allows businesses to track assets throughout the asset lifecycle – from procurement to retirement. Such productivity tools help organizations save both time and money. A crucial part of asset tracking software is maintenance management. Businesses often rely on emergency asset repairs to keep operations running. Most businesses do not have a preventive maintenance strategy in place. However, preventive maintenance is known to reduce costs by up to 50%! The shocking part to this is that preventive maintenance strategies aren’t all that hard to adopt. What they essentially require is regular maintenance checks and services on equipment. These simple measures reduce the likelihood of sudden equipment failures, increase the equipment lifetime and decrease unnecessary repair costs.

However, with over hundreds of assets and equipment to account for, businesses often lose track of which asset requires frequent maintenance and at what interval. This is why scheduling recurring services, and setting up maintenance alerts within an asset tracking software are essential features that enable organizations to easily employ preventive maintenance tactics. In addition, to knowing when maintenance is due for equipment, organizations also need to ensure that these maintenance tasks are assigned to employees and completed on time. This is where work order management comes into play. It allows users to create work orders for tasks that need to be performed on equipment, assign them to employees and track them through the different stages i.e. from creation to completion. This eliminates the need of having to remind employees to ensure that tasks are completed. These work orders can also be created for fixed tasks that need to be performed frequently.

Conclusion

It is important to have a consolidated platform to track assets and schedule work orders. Such a software platform allows businesses to better distribute their resources, collaborate on projects and follow up on the services and maintenance of equipment.

Asset tracking software, with the capacity for work order management module, helps businesses increase visibility into assets and resources and manage work orders from a central web-based solution. It helps employees within an organization to stay on top of equipment maintenance and enables them to easily follow up on the status of such tasks.