Tool Tracking on Job Sites: A Construction CFO's Blind Spot?

Spreadsheets have left the chat. 

Sure, they had their heyday. Spreadsheets were once an indispensable source for everything from financial forecasting to job costing and tool tracking for chief financial officers. But different types of software have emerged that automate reporting and are more effectively used as central databases for tools and equipment.

ToolWatch has entered the conversation.

This platform provides visibility between the corporate office and its job sites, which eliminates common CFO construction oversights and capital waste.

Project Flow

The construction industry is mobile by nature. Job sites are typically scattered, and so are tools and equipment. Using ToolWatch by AlignOps, which is compatible with mobile devices, allows skilled laborers to check availability and schedule tools as needed. They no longer have to wait for a specific tool or interrupt someone else’s work, both of which impede the flow of projects. Instead, equipment uptime and employee productivity are maximized.

Maintenance Management

An important feature of any tool tracking software is automated maintenance reminders. Staying on top of preventative maintenance:

• Reduces unplanned costs from breakdowns
• Keeps projects on schedule
• Prolongs the life of the equipment
• Mitigates the risk of compliance fines and legal exposure
• Promotes a culture of safety

Employee morale is an often overlooked benefit of maintenance management. When crew members aren’t worried about getting injured on the job, they are happier and are more productive. As a result, employers usually see a reduction in labor and insurance costs. 

Crew Accountability

Skilled laborers are also more conscientious when tracking software is implemented. They tend to take better care of the tools and equipment they use. They are also less likely to unintentionally leave something behind when moving from one job to another, and supervisors are less likely to make accusations if something does go missing. Instead, they can use GPS to pinpoint its location. Crew accountability reduces financial losses from misplaced tools and increases trust among team members.

Data Reporting

When it comes to tool tracking for CFOs, the more data the better. ToolWatch utilizes historical and real-time data to analyze trends, uncover inefficiencies and improve forecasting. The software has a dashboard with important stats, as well as a comprehensive report library and custom report capabilities. Recurring reports can also be scheduled. And ToolWatch integrates with popular accounting and project management software. Having comprehensive reporting like this eliminates construction CFO blind spots.

See the big picture. Schedule a free demo of ToolWatch and join the conversation about other software solutions from AlignOps.