Paperless Asset Management Ideas from Leading Construction Companies
Large construction projects typically take 20% longer to finish then scheduled and are up to 80% over budget, according to McKinsey & Company research.
One of McKinsey’s 5 big ideas for disrupting the status quo of construction companies is to embrace digital collaboration and mobility. Paperless, real-time sharing of information is critical for changing the way companies do business. Gone will be the days of scraps of paper and different versions of reality in the procurement office, or equipment yard versus out at the job sites.
There are companies already adopting paperless technologies to improve their asset management practices and reducing costs. We have compiled a list of best practices from some of these companies in a free e-book titled “Best Practices for Asset Management – Mitigating Risk for Construction Equipment”.
The e-book book focuses on strategies to manage construction assets and mitigating the risks associated with not knowing what assets you own or rent and their real-time location. Having the right equipment for the job is critical to being on time and budget. If equipment is not available you will need to either buy it or rent it to get the job done. That seems straight forward enough, but what if you misplaced the equipment in the yard or it is sitting at a job site across town being unused? Do you still want to spend the money to rent the equipment?