Save 40% on Asset Maintenance Costs
Asset maintenance is not child’s play. If you are not consistent and proactive in maintenance, assets may wither away costing you a fortune in repairs and downtime. Are you struggling to save on asset maintenance costs? Not anymore!
What if we told you there’s a way to save upto 40% on those maintenance costs? Yes, we’re not kidding! You just need to implement some clever strategies that can help you save substantial costs.
In this blog, we’ll explore ways to slash maintenance costs without compromising the quality of the upkeep. So, buckle up!
How to Save on Asset Maintenance Costs in a Building?
1. Centralized Management to Save on Asset Maintenance Costs
Using asset maintenance software, you can efficiently track and organize assets in a centralized database. This eliminates the need for manual record-keeping and mitigates errors. Such an approach helps you streamline workflows and handle everything from a unified platform.
In addition, you can proactively plan for the maintenance activities. This is very beneficial for dodging unexpected breakdowns and prolonging the asset lifespan. As obvious, such a preventive approach slashes the reactive costs which come with significant downtime.
Wait there’s more! A centralized asset management software allows optimal resource allocation. Wondering how? Well, by assigning tasks to the team as per availability, skills and location.
Read more: Computer Aided Facility Management (CAFM) Software
2. Preventive Approach to Save Asset Maintenance Costs
Preventive maintenance is yet again a key strategy for saving maintenance costs. Facility management software allows you to automate preventive tasks. This ensures that maintenance is completed timely based on predefined schedules. This approach further comprises-
a) Routine Inspections for Cost-Saving
Regular inspections are crucial to preventive maintenance planning. You can use FM tech software to ensure regular assessment of assets for maintenance needs. With such regular checkups, you can detect potential risks and take timely maintenance interventions. Let’s hop on to the next one.
Read more: What is Inspection Checklist?
b) Automatic Alerts for Cost-Saving
You can set up alerts based on pre-determined maintenance schedules. Such notifications prevent any slip-ups and guarantee enhanced asset health.
3. Digital WO Management to Save on Maintenance Costs
FM software often provides robust work order management capabilities. Let’s explore this further.
You can now easily simplify your work orders using the centralized platform we discussed above. Believe us, this is going to ease a lot of administrative burdens.
With a digital work order management system, organizations can streamline their workflows, improve communication, and ensure seamless collaboration between maintenance teams.
Discover more: Digital Work Order in Equipment Maintenance
a) Efficient Task Assignment
You can easily prioritize work orders using digital WO systems. This prioritization is based on factors like technician availability, skills, and proximity to the asset location. With such optimal task allocation, you can ensure timely and cost-effective maintenance.
b) Digital Work Order Tracking
Digital work order systems provide real-time visibility into work order status. This allows you and other stakeholders to monitor progress and identify bottlenecks, keeping tasks on schedule.
Moreover, digital work orders enable you to track resource utilization-men, materials and money. This reduces unnecessary costs and minimizes wastage.
4. Mobile Accessibility to Save Costs on Asset Maintenance
Mobile accessibility allows your maintenance team to perform tasks on the go, from anywhere and at any time. Using real-time data regardless of location, technicians can easily retrieve asset details: task flows, repair history etc. This saves costs and reduces travel time.
a) Instant Updates on the Go
With the right FM software in place, your team can receive real-time notifications on work orders, equipment malfunctions, or maintenance requests. Such instant access to updates enables prompt issue addressal, minimizing downtime and potential damage.
b) Enhanced Collaboration
Furthermore, mobile accessibility paves the way for seamless communication between you, your team and other stakeholders. Team members can communicate in real-time, share updates, and collaborate on tasks. This ensures effective coordination and quick access to shared documentation.
c) Prompt Response and Issue Resolution
Users can submit maintenance requests directly through the mobile app and upload supporting media as well. Your team can instantly receive these requests and work on the resolution. Therefore, as evident, mobile apps streamline the entire process of asset maintenance and help to save costs.
Read more: How to use Technician Mobile App ?
5. Predictive Analytics to Save Costs
Predictive analytics is probably the cornerstone of any FM software and helps to save on asset maintenance costs significantly.
You can generate custom reports with key metrics like work order completion rates, asset downtime, maintenance costs, and resource utilization. Such computer-generated reports provide valuable insights into maintenance performance and identify the grey areas.
To generate these reports, FM software uses real-time data from sensors and equipment. You can, therefore, identify trends and anomalies in this data and understand asset performance better. Guess what? You’ll be able to predict the maintenance needs and keep breakdowns and downtime aloof.
Discover more: Preventive Maintenance Checklist
Final Words
Let’s wrap it up now. In this blog, we discussed some of the key strategies to save on asset maintenance costs in buildings. From using a centralized platform to harnessing the power of predictive analytics, cost-saving is not as challenging as it sounds. With the right FM software in place, it’s literally a no-brainer. If you have any queries, feel free to leave a comment or contact us directly.
Until next time!
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