April 25, 2023.
In the facilities management industry, asset tracking is a vital part of keeping your business running smoothly. To keep track of all your assets and equipment, you need to be able to find them quickly and easily. The last thing you want is for an employee to lose track of something important, or even worse: have an accident because they didn’t know where they were going or what they were doing. By using a tracking app like InMapz on your phone or tablet, you can ensure that every person on your team knows exactly where they need to be at any given time and exactly where each asset is at – no more wasted time, no more lost assets!
With an asset tracking app, you can reduce your audit time and thereby reduce costs.
You’ll be able to improve maintenance, faster and more accurate by staying on top of budget. You will also be able to stay compliant with regulatory requirements such as ISO 9001 certification and your own internal controls. In addition to these benefits, these apps make it easy for you to add assets and equipment into the system along with wayfinding options; this is possible throughout your facility – whether it’s indoors or outdoors!
Reduce the time spent on auditing and number of auditors per site.
Audit time is a major cost to operations, with audits being conducted at least annually. In some cases, asset tracking soft- ware can reduce the frequency of audits by providing managers with more accurate information about the location and condition of assets, almost instantly. This not only reduces audit time but also reduces travel costs for internal or external auditors traveling to multiple sites for these checks. In addition to the reduction in time spent on each site visit and lower associated expenses (fuel, lodging, etc.), this also means more efficient use of human resources: there will be fewer people involved in each inspection trip because they’ll be able to hit all locations once and for all instead of multiple visits for each one. The result is fewer staff members needed overall — a big win!
Fix it the first time. Fix it fast. Fix it for the lowest cost and highest customer satisfaction.
How often has a tech serviced the wrong equipment? How often did an appliance service person drive to the site, could not find the equipment but still charged you for time and mileage? A customer recently said, it happens all the time. Beyond this cost, what happens when you can’t find the shut off valve for several hours? The expenses go up by the minute as the damage is unabated. Tracking, tagging, and finding assets fast via the digital app will put more money in your pocket. It’s as simple as that.
The benefits of knowing the location, condition and maintenance costs of assets are clear. But it’s not just about dollars and cents—it’s also about keeping your facilities running smoothly.
No matter how well-maintained an asset is, there will always be unexpected things that come up that require repair or re- placement. When an asset moves out of place or breaks down unexpectedly, it can lead to costly delays in your projects and disruptions to operations if you don’t know where the spare part is or who has access to it. This can impact productivity as well as safety—and all without even considering the cost implications!
On top of this, by having a complete view into your asset tracking system you’ll have an easier time staying on top of budgeting for ongoing maintenance tasks like preventative maintenance programs and service contracts with vendors where possible.
You never want to hear “It’s on the inventory list but I can’t find it”, or “it’s not missing, we just can’t find it”, a lot of time and effort is lost, and customer satisfaction goes down the drain. InMapz your facility and asset tracking would be one problem you don’t have to worry about.
HD Vo is founder and CEO of InMapz, an indoor mapping technology company that converts static floor plans into dynamic digital twins to manage your buildings from anywhere. Mr. Vo is a serial entrepreneur and has founded 4 companies. He earned bachelor’s and master’s in electrical engineering from MIT and MBA from Northwestern University Kellogg School of Management. He can be reached at solutions@inmapz.com
Sri Peruvemba is CMO at InMapz an indoor mapping technology company that converts static floor plans into dynamic digital twins to manage your buildings from anywhere. Peruvemba serves technology companies in advisory and board roles; he has a bachelor’s degree in engineering, a master’s in business and a post graduate diploma in management. He can be reached by email at: sri@inmapz.com.