3 Tips to Improve the ROI on Your CMMS Investment
CMMS tools are very good investment for a business that involves lot of maintenance and inventory management. A lot of people frown upon them as the initial investment is little on the high side. However, the rewards you get out of it are much better in the long run. In this article, we will discuss how we can improve the return on investments on your CMMS solutions by configuring and implementing them wisely.
Proper Configuration of Assets in the System.
CMMS solutions have a broad range of features based on the variant. One particular feature that maintenance managers love to try their hands at is the asset management and is the easiest path to higher return on investments. Asset management facilitates your maintenance teams to take informed repair decisions while on their shifts, while recording the frequency of asset issues, and control the recurring costs by efficient tracking of monetary costs linked with every asset.
Research shows that the longer life of assets is directly proportional to the number of assets maintenance professionals enter into the CMMS systems. To put it simply, the more no of total assets that are configured into the CMMS solution, the more effective the solution will be, and the more they can benefit from the actual system.
While asset management might look like a logical thing on the outset, the strange reality is that a good number of maintenance teams do not fully make use of this functionality in their system (or their CMMS solution may be lacking certain asset management features).
If across the whole company, only a few departments are tracking equipment health and adding new machines, then it might not make sense. Only when you configure as many assets as you possibly can, across every department in your firm, you will be able to reap the higher ROI that this sort of visibility brings. Preventive maintenance can become a possibility only then.
Tracking work orders and inventory assets
Is your team able to consistently take care of all their work orders, service request requirements and asset inventory on your CMMS? Or, are you still using paper based manual methods for some requests? Properly managing the entire workflow in your CMMS is important and it will lead to more efficient work orders, less downtime and higher overall productivity in the long term.
To achieve the goal of a maximum ROI, it’s very important that you take action once inventory and work orders are properly configured in the system. Make sure that you are keeping track of your team’s daily work orders to keep an eye on the productivity levels.
Better Executive Reporting Systems.
When every single one of your assets, work orders and inventory lists are properly configured in to your CMMS, it’s time to figure out the effect of the system on improving your organization’s overall maintenance strategy. If required, do you have the means to verify the CMMS’ ROI to management? You can make this process relatively simple by using the built in reporting metrics and KPIs in your CMMS systems for better performance analysis and insights for productivity boosts.
Data has proven that over 70% of organizations that take the effort to measure and report on KPIs have seen improved results.
I hope this article was useful for you to learn about the advantages of running a CMMS solution for your business. If you have any doubts with regards to this, let us know through the comments and we will be glad to help you out. If you have any suggestions regarding how we can improve the article, let us know them through the comments as well for us to improve.