WorkMax ASSETS 4 Challenges Tracking Assets

Top 5 Challenges Tracking Assets
By: Shannon Corgan, Director of Marketing

Tools and equipment are critical to a construction business’ success. Without the right tools and equipment available and accessible to your employees, you’re increasing the risk that you’re projects are going to miss schedule deadlines and go over budget. Here are the top 5 challenges tracking assets for construction businesses:

Locating Assets

1. Locating Assets is Time Consuming

When a supervisor or employee needs a piece of equipment he calls the equipment shop to find out who has it. The equipment shop manager looks at the form or spreadsheet to locate the piece of equipment. The equipment manager typically knows that the tools or equipment were checked out in the morning from the equipment shop and at the end of the day he or she knows if it’s checked back in or not returned. Throughout the day, it’s common for a piece of equipment to be utilized at multiple locations by multiple employees. The equipment manager calls, texts, or emails the person that supposed to have it and then they tell them it was taken to a different job site and that another employee has it. Then once it’s located, the equipment manager has spent half an hour of his/her day just trying to locate it. 

 

Manual Process Error Prone2. Manual Asset Tracking is Error-Prone

Most companies are still using paper or spreadsheet printouts in the field to track their fixed assets. If you are tracking your assets on paper, the inventory is only accessible in the physical location where your tools and equipment are stored which is typically an equipment shop. Your employees in the field can’t easily check the asset inventory from the field without making a call to the equipment shop manager. Another challenge for manual asset tracking or tracking assets on paper is that even though you may love your equipment manager, but he or she didn’t win any penmanship awards and the handwriting on the forms may be illegible. With manual asset tracking in one physical location, you can't track where your assets are in real time and who has them.


Tools Lost Stolen

3. Tools or Equipment are Lost or Stolen

If you don’t know who has your company’s assets or where they are at, you’re increasing your chances of having tools or equipment lost or stolen. If your employees don’t have the right tools or equipment to perform the work needed, it slows down your projects and the amount of work that can be completed. When businesses owners experience tools or equipment theft, they have to purchase new tools or equipment if they haven’t insured the tools and equipment. Even if business owners do have insurance, they still have to take time to file police reports and insurance claims. In addition, they have to rent replacement equipment and can expect higher insurance premiums due to the insurance claims for their stolen or lost equipment. All of this leads to lost productivity and schedule delays. Schedule delays can lead to missed deadlines and penalties for missed deadlines.


Difficult to Track Maintenance

4. Difficult to Track Maintenance

Unfortunately, if there is not a centralized location for fixed asset maintenance schedules, many times preventative maintenance isn’t proactively performed and is reactive. Most companies without a centralized asset tracking system with global visibility service their equipment only when it’s broken down and is also known as reactive maintenance. When your fixed assets are only serviced when it’s broken down, it can lead to much higher repair costs. Also, if you’re only performing reactive maintenance on your fixed assets you’re also reducing the asset life cycle and which increases the cost because you have to replace your fixed assets sooner.

 

If you can relate to any of the Top 5 Challenges Tracking Assets, and want to automate your asset tracking for accurate real-time asset inventory and assignments in a centralized location with global visibility, click here to learn more.

 

PRESS RELEASE Permission Profiles

WorkMax TIME, FORMS, and ASSETS by AboutTime Technologies Enriches Integration with Top Construction Accounting Systems and ERPs

Clones accounting system project cost and organizational structure for accurate daily job costs to minimize reallocations with Permission Profiles

(Payson, UT – May 14, 2019) AboutTime Technologies, a 16-year veteran of on-premise and cloud- based mobile resource management, today announces that it has expanded its integration with the top construction accounting systems and ERPs with WorkMax TIME, FORMS, and ASSETS. WorkMax is an easy-to-use cloud-based platform for employee time tracking, mobile forms, and asset tracking that allows project-based businesses to manage each of their mobile resources all in one place.


Permissions Profiles allow businesses to accurately track daily job costs and drastically reduce reallocations or adjustments to job costs after-the-fact. Permission Profiles allow users to create a unique profile with a set of individual permissions that can automatically be assigned to new employees. Most project-based businesses have hundreds, if not thousands of cost codes or tasks to track a project’s job costs and completed work. Permission Profiles determine what employees see when they’re entering their completed work and labor hours. This ensures that they are assigning their labor to the right jobs, projects, locations, tasks, cost codes, or assets. With Permission Profiles, employees can only select tasks or cost codes that are part of the appropriate project cost structure based on what’s been set up in the business’ accounting system or ERP.


Permission Profiles can also restrict which mobile forms are visible to employees in the WorkMax application. Only the employees that need to complete the mobile forms are able to view them and saves the employee’s time instead of searching for the mobile forms they need to complete. Permission Profiles can be set up to automatically apply permissions to track more than employees, jobs, cost codes/tasks, devices, assets, and forms by creating or importing custom list items. Custom lists provide businesses with the flexibility to track whatever they need. Examples of custom lists include employee leave codes, certified classes, or per diem allowances.


“We kept hearing that project-based businesses spent too much time reallocating job costs due to data entry errors by field employees. The bigger the list of jobs or cost codes the more adjustments they had to make in their accounting system or ERP. Also, the project job costs and completed work was always out-of-date. We looked at the data visibility goals that our customers wanted to achieve in their accounting systems and ERPs for job cost accuracy and mirrored those options in WorkMax. With Permission Profiles, we gave them an easy way to get the right data to the right employees at the right time for real-time accurate project job costs,” said Ryan Remkes, chief executive officer of AboutTime Technologies.


WorkMax has powerful and robust integrations with the top construction accounting and ERP systems including:

Mike Merrill, COO of AboutTime Technologies, will be demonstrating Permission Profiles for the first time at the TUG 2019 National Conference on Tuesday, May 14th at 10:45 AM CDT at the JW Marriott San Antonio Hill Country Resort and Spa. TUG is the national user group for Sage 300 Construction and Real Estate, Sage 100 Contractor, and Sage Estimating.

For a full list of all of the accounting, ERP, payroll, and HR systems that WorkMax integrates with click here. To learn more about WorkMax’s Permission Profiles, click here to view the video. 

 

WorkMax ASSET Tracking Press Release

AboutTime Technologies launches WorkMax ASSETS, a Cloud-based Asset Tracking Solution for Web and Mobile

Automates businesses, reduces asset loss, improves productivity, and optimizes asset utilization across entire workforce anytime, anywhere, and on any device for project-based businesses of any size

ASSET Tracking WorkMax Logo with Cloud

 

 (Payson, UT – May 7th, 2019) AboutTime Technologies, a 16-year veteran of on-premise and cloud-based mobile resource management today launches its third cloud-based solution, WorkMax ASSETS. WorkMax ASSETS by AboutTime Technologies is now available along with its previously released WorkMax TIME and WorkMax FORMS. WorkMax ASSETS automates asset tracking and management across a business’ entire workforce anytime, anywhere, and on any device to reduce asset loss, optimize asset utilization, and accurately assign assets. WorkMax ASSETS simplifies asset management, inventory tracking, and asset utilization and allows you to assign assets to locations, employees, and projects. Daily usage of assets per location and or the assignment of assets to or from employees or locations can be managed all in one app with WorkMax ASSETS.


WorkMax ASSETS is much more than just a better spreadsheet; it organizes all of your asset inventory all in oneAsset Tracking for WorkMax Screenshot centralized place and makes it easy to keep asset inventories organized through the use of parent/child hierarchies. WorkMax ASSETS also connects the field to the office by tracking their asset assignments and asset usage with their smartphone or company tablet or iPad with or without a connection to the internet or cellular service. All the data is stored locally on their mobile devices and can be synced as soon as the employees have internet access. The power of the WorkMax platform allows businesses to combine multiple WorkMax platform solutions to streamline the workflow of their project-based businesses. When project-based businesses pair WorkMax TIME with WorkMax ASSETS, they know who is specifically assigned an asset in addition to tracking the number of hours the tools or equipment was used. Another example of the power of the WorkMax platform is that companies can use WorkMax ASSETS together with WorkMax FORMS to track detailed maintenance, breakage, or equipment safety checklists for that asset all in one app.

“Assets are typically the second largest expense item on the balance sheet and we developed WorkMax ASSETS to make it easy to know who has an asset, where is that asset located, when was it checked out or in, and when it is available to use. This allows any size business to more efficiently manage their projects to increase profitability,” said Ryan Remkes, chief executive officer of AboutTime Technologies, “we worked very hard to create a best-in-class asset solution while taking into account the workflows that project-based businesses needed to optimize their business processes. WorkMax ASSETS achieved all of this and then some.”

WorkMax ASSETS key features include:

Flexibility

  • Access through mobile iOS or Android apps to connect mobile, remote and office employees
  • Handles small asset inventories at one location, as well as large asset inventories utilized across unlimited locations and assigned to an unlimited number of employees
  • Unlimited user roles and permissions to fit businesses as they grow in number of employees or number of assets in their inventory

Easy-to-Use

  • No need to log into multiple apps or multiple sessions on your web browser to manage your mobile resources. WorkMax is one app and one web login for employee time tracking, mobile forms, or asset tracking. It’s all in one app or accessible from one website and one login.
  • Flex-fields allow businesses to personalize with their specific industry terminology for rapid user adoption
  • Adaptable user roles and permissions ensure employees are presented with only the information they need to see
  • Employees can enter asset tracking or utilization data into the WorkMax ASSETS App with or without internet service

Accuracy

  • Mobile employees can transfer assets from one employee to another from their mobile device to know who has each company asset
  • Capture accurate asset usage and asset assignment in real time for precise job costs
  • Eliminate re-keying of data from the accounting system, spreadsheet, or equipment rental database when you sync your business systems with WorkMax

Visibility

  • Know where company assets are and who is assigned to each asset to reduce loss and optimize labor productivity
  • Reduce overutilization and underutilization of assets to extend asset life with global visibility of asset inventory
  • Everyone has appropriate access to asset inventory and usage from anywhere, anytime and from any device
  • Single centralized database accessible from anywhere and on any device and at any time reduces time spent locating assets with real-time asset tracking

Efficiency

  • Instantly find assets by unique number, bar code, pick list, or even serial number
  • Minimize downtime by knowing which assets are used most often 
  • Eliminates time spent making phone calls, emails, and texts trying to locate tools and equipment

Integrations

  • Powerful and configurable integrations with many accounting systems and business applications to keep data in sync and more accurate
  • Employees can see assets assigned to them or check them out or in on Clock IN / OUT all in one app when you combine with WorkMax TIME with WorkMax ASSETS
  • Use WorkMax TIME with WorkMax ASSETS to track employee’s operator time on that asset.
  • Combine WorkMax FORMS and WorkMax ASSETS to track detailed maintenance, breakage, or safety checklists all in one app
  • Utilize the WorkMax ASSETS Reports for customer billing and documentation.


For more information about WorkMax ASSETS, visit http://www.workmax.com/workmax-resource-management-solutions/track-assets-and-equipment. To get pricing and get started with WorkMax ASSETS today, click below. 

Get Pricing Orange

 

V2 3 Biggest Mistakes when Comparing Cloud and On Premise

3 Biggest Mistakes When Comparing Cloud and On-Premise Solutions

By Shannon Corgan, Director of Marketing

Cloud lowers Total Cost of OwnershipYou’re making a huge mistake when you strictly look at license costs to compare cloud solutions and on-premise solutions for your business. There are so many more costs you need to consider to know the total cost of ownership (TCO) for your business applications.
Here are a few things to consider:

1 blue orangeHardware costs – For on-premise solutions, what servers or hardware upgrades will you need purchase to use the on-premise solution? With cloud solutions, you don’t really need to worry about this. Most are available on any device owned by the company or the employee. 

2 blue orange

IT Admin and Customization – How much time will your IT staff have to apply fixes, patches, and upgrades for an on-premise solution compared to automatic updates from a cloud solution?  How much time will your IT Staff have to work with the software developers to customize the on-premise solution?  

3 blue orangeMaintenance Fees – When you purchase on-premise software you have on-going maintenance fees to access their new features, fixes, and patches. The maintenance fee is typically 15% - 20% of the license fee. With cloud solutions, there is no additional fee for this. It’s included in your license fees.


Now that I’ve given you a few things to think about when you’re evaluating cloud solutions and on-premise solutions, let’s take a look at the cost comparison for a cloud solution and an on-premise solution. Hurwitz & Associates conducted a study on the four-year total cost of ownership (TCO) for on-premise and cloud solutions. They broke down the TCO into five categories of costs which included the costs for evaluating and selecting software, IT infrastructure, license fees, implementation and support, and user training. They found that the TCO for cloud solutions was 77% lower than the TCO for comparable on-premise solutions. The largest TCO variance between the cloud solution and the on-premise solution was due to the hardware, IT Admin, and IT Infrastructure costs required for on-premise solutions. To dig into the details of the TCO analysis by Hurwitz & Associates to understand the cost variances between cloud solutions and on-premise solutions, click here.

The key findings in the Hurwitz & Associates research were:

  • Cloud solutions for user licenses account for 57% of total solutions cost

  • On-premise software costs are about 14% of total solutions cost

  • Cloud solutions require no IT infrastructure costs

  • For on-premise solutions, costs range from $150,000 for 10 users to more than $275,000 for 100 users over four years.

For a better understanding of the hidden costs of on-premise solutions that can increase your TCO costs up to 77%, check out our recent blog, The 12 Hidden Costs of On-Premise Software. Now that you know you could achieve a cost savings of up to 77% with the cloud, you may be wondering how to get started on your own informal TCO analysis to compare a cloud solution to an on-premise solution. No need to whip up a spreadsheet of your own, Software Advice has a great TCO Calculator to try out.

If you haven’t purchased a cloud solution for your business, now is the time. According to the 2018 IDG Cloud Computing Survey, 73% of businesses have adopted cloud technology. In addition, IT departments are allocating 30% of their overall IT spend to cloud solutions. This is an all-time high budget allocation for the cloud.

To learn more about the benefits of the cloud and to simplify your employee time tracking, data collection from the field with mobile forms, or asset tracking, check out our popular blog, 5 Reasons to Move to Cloud.