Published On December 27, 2021 | 5 Min Read
A Building and property management company was struggling to understand its equipment valuation (Assets) and to track warranty information for each equipment.
The customer was facing challenges with equipment valuations. They had no readily available information on the Purchase value and the current value of an equipment. This posed an issue for the accounts team who struggled every year to report the book value of the equipment..
Warranty is a major attribute of a costly asset. It needs to track and maintain efficiently to avoid related unnoticed expiration. Also it needs to keep the cost related to ineffective maintenance of warranty information.
Both above problems contributed to a good amount of financial loss to the customer.
The customer was also facing cost related issues with maintaining parts inventory. Most of the time, it was either over or under stock. It causes a financial impact due to overstock or loss. And it happens due to unavailability of parts during a maintenance job.
With easy implementation of DreamzCMMS and minimal hand holding, all stakeholders were onboarded in the system.
With DreamzCMMS, now all equipment can be organized and managed within the system easily. The system stores all information related to an equipment and based on the business, calculates real time value of an equipment automatically.
The system also stores and provides insight of the value of an equipment from its purchase cost till its every year depreciated cost. The equipment value journey is readily available within the system making life easy for the accounts team and the decision makers.
Warranty related information for an equipment is stored in the system. The system generates alerts as required about expiration of a warranty. The maintenance team can now be aware of any warranty related information and necessary actions required easily from the system without any manual cumbersome tracking need.
With an easy solution for tracking value of an equipment and its warranty, the customer could gain efficiency in equipment management while saving unnecessary expenses.
With efficient integration between Parts inventory and the maintenance activity. Every consumption of spare parts is recorded with the work and impacts the parts inventory either way real time. Along with this, based on the minimum ordered quantity required for a spare part. Automated purchase requests are generated when the quantity hits the minimum. This ensures availability of spare parts as required and helps in maintaining optimal parts inventory helping to run the business with optimal cost.
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