How to Lower the Cost of Your CMMS Platform

There’s no doubt that CMMS software makes business operations run smoothly and efficiently, and it’s definitely software that’s worth having. However, as great as CMMS is, you could be overpaying for it. Even when a product is fantastic, there’s no reason to pay more for it than you have to.

With that in mind, there is a way to minimize expenses. Take a look at the information in this article to learn how to minimize CMMS costs.

What Is CMMS Software?

Computerized Maintenance Management Systems (CMMS) are used by organizations that need to maintain assets and facilities, such as manufacturers, as well as some service providers to manage assets on behalf of their clients.

Since fixed assets are a significant investment for any company, CMMS helps by maximizing the use and efficiency of assets. This type of program—from acquisition to disposal—covers many phases of the asset lifecycle. CMMS is used to sustain assets in optimal condition by technicians and by managers to make intelligent decisions about how to maximize the use of assets.

The Benefits of CMMS Software

Before learning about how to cut the costs of CMMS, here are some of the advantages of the software:

Prevent Lag Time Between Breakdown and Repair

The old method for getting the word out about a breakdown to a trained technician was a cumbersome process before the days of CMMS. And it wasn’t just cumbersome, it was time-consuming. Companies lost efficiency for every minute and hour that the asset goes unfixed.

By keeping things operating efficiently, minimizing the lag time between an asset breaking down and the repair team showing up minimizes the operating expenses. CMMS includes a dashboard in real-time that all technicians have access to. A contractor may assign technicians a new job, or technicians can take on new projects of their own to increase response times.

Minimize Overtime Expenses

You can decrease the number of unwanted maintenance calls and requests you get when you know when and what maintenance needs to be performed on each asset. This ensures that during normal business hours, you can conduct routine maintenance while you are paying your technicians.

With precise forecasts and in-depth reporting, you can view how many technicians you’ll need and at what times. That way, you can wisely plan your technician’s schedule to reduce expensive overtime costs.

Inventory Management

Your operating costs can look falsely inflated when you have too much inventory on hand. Nonetheless, failure to store parts in inventory can mean urgent orders to get what you need to repair an asset.

Not only will you pay more for the materials to rush them to your facility, but during that time your asset goes unused and your facility loses precious production time.

When you use an item, you can log it into CMMS so that it gets reordered immediately. Plus, with inventory reports, you can view the parts you have in stock and see how rapidly you go through the inventory.

Through those reports, you can make more educated decisions that minimize the amount of excess inventory you hold and improve your pace and responsiveness.

How to Cut CMMS Costs

Now that you know how beneficial CMMS software is, there’s a way to make it better. Here’s how to minimize CMMS expenses:

Use a standardized maintenance task: Most resources fail before their lifetime is finished due to inadequate maintenance, which leads to major repairs or fatal failures that could’ve been prevented. It prolongs the life of your assets and saves you money by following a structured preventive maintenance program.

Warranty recovery: With CMMS or EAM applications, monitoring asset warranty data can help you manage warranty claims and recover the cost of repairs. Gathering the required documents is difficult without a centralized database to store and easily access all relevant information related to assets.

Remove Redundant Equipment: Unnecessary equipment costs money to hold, and it depreciates. Maximizing the use of a single piece of equipment, instead of running two at half-capacity, is more cost-effective.

Collect as much data as possible: If you already have maintenance management software, maximize its use by collecting as much data as possible on all of your assets. Doing so allows you the ability to perform more thorough analyses to guide future company decisions.

Continue to Run Old Assets: Keeping aging assets going for as long as possible is vital to any organization’s financial success. To hold assets online, regularly scheduled maintenance is essential.

Evaluate key performance indicators: By analyzing equipment breakdown data, maintenance expenses, work order queue, cycle times, and more, you can enhance your operations. An analytics dashboard will allow you to assess key performance metrics easily and identify possibilities for lower asset costs.

Track and control spare parts: Efficient equipment monitoring and control will help you improve your profitability by ensuring that you don’t order secondary or excess materials. Reducing stock levels for spare parts can help you to cut costs and you can avoid expensive downtime by acquiring parts in time.

Now that you know more about cutting CMMS costs, here’s more information on how to choose CMMS software.

Reduce CMMS Software Expenses

Hopefully, the information above helps you to get more bang for your buck. It’s worth the price to have CMMS software, but as you can see, you can also have it at a more affordable price. It’s not every day that you can get incredible products at a minimal price, so be sure to check your business operations.

If this information was helpful for you, feel free to take a look at more of our blog posts. We publish content related to several topics about business products and services. Read on to discover more insightful information.