By now, you already know your asset management process needs work, and you’ve started to research different options. You might even be ready to choose a software to keep track of your construction tools and equipment. If you’re at this point in the process, the next few steps will help you decide which asset management software fits your needs, and how to pick the very best for your firm.

Take a look at the five steps below. As you explore solutions, make sure you’re keeping important features in mind.

How to Pick the Best Asset Management Software

As stated in the infographic above, here are the five steps you should take when navigating tool and equipment tracking software for your firm:

  1. Outline your problems
  • Do you find yourself the victim of theft, lost tools, lost tanks, messy spreadsheets, all of the above? Having a list of your problems first will help you know which asset management software features are right for your business.
  1. Consider total cost
  • Tool management software alone are inexpensive, but be mindful of additional hardware they may require. Some need RFID readers, which can be costly. Look for software that only requires an app on your phone to read barcodes.
  1. Look for key features
  • Once you have your list, start requesting demos. Look for device flexibility, easy-to-use features (like drag and drop), and cloud-enabled technology. Keep in mind that systems with apps offer more flexibility onsite than desktop versions alone.
  1. Choose scalability
  • A good asset management software will keep records of all tool maintenance activity and track it throughout its lifecycle. It tells you when to service, and which tools are lasting the longest, so you can invest in the best brands for your business.
  1. Use an established company
  • Software made by a small business can create a lot of risks. If their business goes under, you could lose all your data. Choose a company that specializes in software for the industry, and one that is well-established.

Features you should look for include:
Device Flexibility:

  • Use it on your computer and mobile device

Cloud-Enabled Technology

  • Info managed in a single, centralized source

Barcodes and RFID Technology

  • Supports barcode and RFID with BLE connected scanners

Multi-function Asset Tracking

  • From warehouse, jobsite, vehicles, employees

Extended Analysis

  • Business analytics and cost management

Maintenance Schedules

  • Keeps records of service dates throughout tool lifecycle

Now that you know what to look for, you should be ready to choose a solution that’s right for your construction firm. If you’re interested in highly scalable software for your business, request a demo of AllTrak Cloud today.