How Growing Construction Companies Can Protect Their Bottom Line

For the past two decades, digital asset management has enabled construction companies to track their assets anywhere at any time with a minimum of manual involvement. This has produced significant improvements in operational efficiencies, lower costs and healthier bottom lines for construction companies of all types and sizes.

Although asset tracking software represented a giant leap forward in asset management capabilities, it had its share of drawbacks. These included the time and expense of installing the software onto your system, the cost of maintenance and upgrades, keeping your data secure, and more. With Tenna’s cloud-based asset management solutions, you can now put these problems behind you and focus more time and resources on growing your business and strengthening your bottom line.

How Does Cloud-Based Software Work?

It’s simple. Instead of downloading a bulky software program onto multiple PCs in your business, Tenna hosts and manages the software. To track and manage your construction assets, you log into our system – using protected passwords – and work from there.

Using cloud-based software is just like working with data in your own system. In fact, once you log into our system, you can’t tell the difference by looking at the screen in front of you. The difference takes place behind the scenes, where we do all the work of managing, maintaining and updating the system for you. Our system provides complete visibility into all your assets, and makes it easier and less costly to keep them running efficiently and reliably, while providing the following advantages:

• As a growing construction business that relies on efficient asset management, the last thing you want is to get locked into a rigid software system that can’t grow with your business. With Tenna, scaling up your asset management capacity doesn’t require the time or expense of upgrading your current system or investing in a new one. As you grow, we simply dedicate more space on our servers to provide all the computing power your business needs.
• Reduced IT costs. Managing internal software is a costly proposition. In addition to the initial capital investment in the software and hardware, you must also budget for maintenance, upgrades, technical support and replacing broken or outdated hardware. Our cost-effective cloud-based asset management uses a subscription model that provides the level of service you need at very competitive prices. Instead of paying an arm and a leg for your own software, you connect to our system and pay as you go. Budgeting for asset management has never been easier!
• Enhanced collaboration. Cloud-based software makes it easy for everyone in your business to access, edit, and share documents anytime, from anywhere. All it takes is a reliable internet connection and our Tenna mobile app and your team can work together more cohesively in real time.
• Data protection you can trust. If you’ve ever suffered a power outage or software crash, you know how hard (and costly) it can be to recover critical asset data. Our cloud-based backup systems and data recovery processes save you time and money – and provide peace of mind knowing your asset data, including sensitive customer information, is safe at all times.
• Simple document control. How many times have you lost data integrity due to field or office personnel working off different document versions? When you send files as email attachments and only one person at a time can edit a document, it’s easy to end up with conflicting file names, dates, and content. Our system stores and allows people to work on all your files in one central location. It also allows you to set authorization levels for who can access and edit a particular document.
• Security you can count on. When considering cloud computing, the #1 question for most companies is, “Is it safe?” Tenna uses the latest in security technology to protect your information. You can remotely delete data from laptops that get lost or stolen. And with our redundant backups, you always have access to your data.

Growing Your Business with Tenna

Growing a business, regardless of the industry, depends upon providing a quality product or service when and where the customer needs it. In construction, this requires bringing projects in on schedule and within budget – not just some of the time, but all the time. Even one late project or a history of sizeable cost overruns can tarnish your reputation and make it more difficult to attract new customers.

Tenna’s cloud-based tracking puts you in control of your assets so you can deliver on your promise to customers. Our easy-to-use asset tracking technologies and software system provide location, movement and usage data on every asset in your fleet – in real time. Knowing where your assets are at all times enables you to complete jobs on time and within budget by:

• Always having the right tools and equipment at the job site when you need them
• Reducing downtime through more efficient maintenance scheduling
• Quickly sending in replacement equipment or vehicles during breakdowns
• Allowing field personnel to work more efficiently
• Reducing theft and unauthorized usage that can delay projects
• Responding to changing customer needs in a timely manner
• Accurately tracking fleet operational costs

Perhaps most important for growing construction companies, you can bid for and win more jobs as you operate more efficiently and build a solid reputation within your industry.

Protecting Your Bottom Line

Using cloud-based asset management to grow your business (i.e. sales) can also grow your bottom line. Tenna helps you protect it by providing the up-to-date information that accounting and financial personnel need to manage cash flow and improve profits.

For construction companies, asset management is one of the biggest, if not the biggest, line item on the budget. Tenna helps you keep this line item under control through more efficient asset management and lowering costs in many areas of the business. Cost reductions achieved through our software system include:

• Lower repair costs through improved maintenance tracking and performance
• Reduced capital investment by extending the life cycle of vehicles and large equipment
• Lower labor costs by minimizing equipment downtime
• Lower recovery and replacement costs due to lost or stolen equipment
• Less administrative overhead as office personnel no longer waste time tracking down data on hand-written documents
• Reduced third-party software expenses by tracking and managing all assets in one system

With Tenna asset management, you can estimate and budget projects cost with greater precision, as your senior management will have the data they need to make informed decisions regarding cash flow and capital investment. You can even develop a new revenue source by selling or renting your equipment on the Tenna Marketplace, an online venue available only to Tenna customers.

Cloud-based asset tracking is a solution whose time has come. Call us today at 833-508-3662, or book a demo to learn more about how Tenna can help grow your business and improve your bottom line.