The owners of capital equipment understand that their investments have a lifespan. At some point, the cost of fixing, servicing, and operating that piece of equipment will grow beyond what is worth paying for. In buying equipment, the idea is to ultimately save money in the long run, at the expense of a larger payment in the short term. Over the course of equipment use, though, the owner has the opportunity to generate a revenue stream off that asset- first, paying back its down payment, and then yielding profit dividends for increased utilization. The trick here- is increasing the longevity of the equipment lifespan, in order to extract every last profitable cent from a capital investment.
Just like an extended member of the business family, an individual piece of equipment must be looked after and cared for. Over time, users encounter depreciation, more operational risks, a lower output, etc. for a variety of reasons. In keeping a close eye on contract management, utilization levels, work order history, etc. equipment owners can limit some of the wear-and-tear that occurs as time passes. The increased knowledge flow will prepare them to adequately attack any emergency problems as well as continuously apply service where it WILL be needed, in order to prevent disruptions all together. Integrating telematic sensor technology into your ERP system, can help you prepare for this.
It all starts with knowledge. The ability to get real-time status updates regarding maintenance schedules or resource planning overviews, allows those making big time decisions to take current factors into account, and better be able to forecast the future. This includes what pieces of equipment will be available, how much more revenue can be generated in an assets lifespan, whether it is worth it to keep servicing it or buy new, etc. In the end, our efforts will lower costs, increase efficiency by lowering asset down time, and be able to adapt to real time transmitted information. Let HSO help you stay on top of your game. To read more click here.
Learn more about technology solutions for owners of capital equipment from the HSO Blog.
About HSO Services
HSO, Microsoft’s ERP Partner of the Year 2014, is a leading provider of enterprise business solutions based on for the Multi-Channel Retail and Services industries, including Microsoft Dynamics AX, CRM and Office365. For more information, contact HSO at (847) 348-0588, through email info-usa@hso.com or www.hso.com.
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