How a Business Can Save Money with a CMMS | Fora Financial Blog
6 Ways Your Business Can Save Money With a CMMS
May 02, 2018

6 Ways Your Business Can Save Money With a CMMS

According to Small Business Trends, the three biggest challenges standing in the way of small business success are limited money, manpower, and time.

Luckily, with computerized maintenance management system software (CMMS), your small business can optimize your maintenance management capabilities, even with limited resources. Before we review the benefits of having a computerized maintenance management system, we’ll explain what a CMMS is and the industries it typically benefits.

What is a CMMS?

CMMS is a robust software solution, specifically designed to simplify asset management and streamline maintenance activities. For instance, your business can monitor asset conditions, utilization, and performance across locations in real-time. This level of enterprise-wide visibility can enable your facility managers to accurately predict maintenance requirements and operational costs of individual assets. A CMMS not only accelerates day-to-day maintenance tasks, but also generates reports that facilitate accurate prioritization of maintenance based on risk.

Various industries are deploying computerized maintenance management systems to improve their work order management and inventory control. Below, you’ll find a few examples.

Five Industries that Benefit from CMMS

1. Manufacturing

Manufacturing businesses can minimize downtime and avoid unexpected failures by using a CMMS to automate maintenance schedules.

2. Energy and Utilities

This industry can set up a CMMS to ensure regular and timely preventive maintenance for mission-critical assets.

3. Public Works

CMMS can also be used by public works departments to deliver uninterrupted services while regulating asset life and lowering maintenance costs.

4. Municipal Facilities

Municipalities can use a CMMS to streamline workflows, accelerate maintenance tasks, and simplify inventory management while ensuring regulatory compliance.

5. Transportation Fleets

A CMMS makes fleet management efficient by automating everything from periodic engine checks to oil changes.

Six Benefits of Having CMMS:

1. Reduces Asset Downtime

A recent survey conducted by the ITIC revealed that 98 percent of organizations suffer a loss of over $100,000 for a single hour of downtime they experience. In addition, 81 percent of respondents indicated a loss of over $300,000 for 60 minutes of shutdown, while a record one-third of the organizations reported that 1 hour of downtime equates to a loss of $1 million to over $5 million for them. This makes it clear that less downtime directly translates into increased profits. A CMMS can shift the focus of your maintenance teams from reactive repairs to proactive inspections, and can avert potential downtime and unplanned shutdowns.

2. Extends the Service Life of Vital Infrastructure Assets

CMMS could help your business automate asset management, make data-driven maintenance decisions, and prioritize repairs and replacements based on risk of failure. Also, this software extends equipment service life by tracking repairs and maintenance in real-time.

3. Maximizes Labor Productivity

CMMS software facilitates mobile maintenance planning and scheduling, and generates accurate reports to maximize labor resources. It eliminates the need for manual data entry, tracks inventory levels, and saves time spent on generating manual reports. With the right CMMS software in place, organizations can consistently stay on top of employee performance, pending tasks, upcoming maintenance schedules and unplanned downtime to reduce costs and boost productivity.

 4. Improves Inventory Control

With CMMS software, you can consistently monitor your inventory management anytime, anywhere. It also eliminates the possibility of errors in documenting reorders and calculating parts. Most importantly, computerized maintenance management software tracks warranties and automatically generates purchase orders according to inventory levels.

5. Accelerates Repair Time

A big benefit of having a CMMS software is that it can enable your maintenance team to access mission-critical information in real-time. It gives them instant access to repair history for individual assets across locations so that they can instantly fix failures by determining the best possible strategy. With a real-time dashboard that can be accessed on mobile devices for everything from technical charts to repair records to troubleshooting sheets, technicians can easily complete their work.

 6. Cuts Overtime Costs

When organizations use CMMS software to automate maintenance schedules, unexpected equipment failures and unplanned downtime are significantly reduced. Reactive maintenance costs a lot, but simply having CMMS software in place helps avoid expensive repairs. The maintenance team can perform scheduled inspections and maintenance at convenient times without having to put in extra hours or effort. Also, CMMS software makes it easy for facility managers and maintenance technicians to communicate more efficiently which means the work gets started and completed on time without delays.

Are You Ready to Invest in CMMS?

Scheduled maintenance is the key to optimizing performance, and a CMMS helps businesses of every size and scope keep up with standard operating procedures. It offers real-time access to vital information, improves accountability, facilitates instant communication, significantly reduces transit time and accelerates workflow while keeping the entire maintenance team on the same page for smooth operations.

Fora Financial

Editorial Note: Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved, or otherwise endorsed by any of these entities.

Post by:
Lindsey Walker is the marketing manager for NEXGEN Asset Management. She specializes in business development, project management and asset management. Lindsey has been featured in a variety of leading publications such as Cerasis, SelectHub, Capterra and many others. To learn more about EAM and CMMS solutions visit NEXGENAM.