Construction asset management and tool tracking software assist you with scheduling maintenance, managing vendors, and distributing work orders via mobile apps. These fully integrated tool tracking systems enable users to manage inventory, perform audits and create service tickets/help desk requests whilst on-site and away from the office.
Include other physical assets such as premises (buildings), vehicles, construction machinery and equipment, and you can facilitate leaner operations. A lean business focuses on providing greater customer satisfaction while using as few resources as possible. The objective of a lean construction business is twofold; creating value for customers and eliminating waste.
Assets matter when valuing construction companies, as most construction companies own significant assets. Such as heavy machinery, vehicles, real estate and miscellaneous equipment. The asset-based approach is a good rule of thumb when initially considering what a construction company is worth.