Landscaping companies have several considerations to make when it comes to their fixed assets – especially their equipment. Tracking tools can help these organizations extend the lifespan of their expensive equipment and tools and significantly reduce or even eliminate loss and theft.
The industry is much larger than one might expect. Statistics from the IBIS World November 2018 Landscaping Services Industry Report show that the industry has annual revenues of $93 billion, employs more than 1 million people and represents 513,305 businesses.
Weighing Pros and Cons of Lease vs Buy
When purchasing equipment for their businesses, landscapers first must determine whether to rent or buy those items. There are pros and cons associated with each of those options. A little comparison shopping is wise, too. Used equipment can save companies quite a bit of money provided the equipment is in good working condition and has been adequately maintained prior to the lease. Some used equipment may still be under warranty or a service agreement. If that’s the case, just review the terms to make sure you those policies may be transferred to you and what the terms are.
Whether an item is new or used, financing may be available, which will help avoid having to put down a chunk of money on the spot. Additionally, you may be eligible for tax incentives with that equipment, so you’ll want to look into that, as well.
Equipment Maintenance Affects Your Bottom Line
Once the equipment is in your possession, obviously you’ll want to do everything in your power to maximize its useful life, which in turn saves you money. Any organization that relies upon equipment will find that, without reliable tracking tools, their fixed assets seem to vanish into thin air. Items fall through the cracks, and employees then have to spend valuable time trying to hunt them down. Theft is an all-too-common occurrence, and if items aren’t properly tagged and tracked through a formal system, those assets are as good as gone. Additionally, without the aid of tracking tools, it’s difficult if not impossible for landscaping companies to determine whether they have the equipment they need for any given project. Guesswork often results. That means workers either show up on the job assuming they have the necessary equipment – only to find out that they don’t – or the company orders additional tools and equipment when they already had those items sitting idle in another location. When that scenario is a common occurrence, the company’s bottom line takes a direct hit.
Additional Benefits of Tracking Tools
Tracking tools deliver benefits far beyond equipment management, though. They enable landscaping companies to run their businesses more efficiently across the board. Fixed assets like computers, laptops, mobile phones and tablets, copiers and printers, company vehicles, office supplies and furniture all may be tracked and managed through a single platform. Locating items no longer requires legwork and frustration. Each asset is uniquely identified with its own barcode, then entered into a centralized data platform that stores such information as asset location, the identity of the person(s) who currently has each asset, check-in/check-out status, asset depreciation (value), insurance policy, lease/purchase information, warranty information, and condition of the asset, including its complete maintenance history. Users may create work orders to schedule service, create custom reports and establish reminders and alerts for important maintenance dates.
Asset Panda’s Simple Mobile Solution
Asset Panda’s cloud-synced, mobile asset tracking platform lets landscaping companies track their assets any way they want. It’s completely customizable, so our clients can organize their data according to their needs. With an intuitive, user-friendly interface, Asset Panda is simple to understand and requires no special training. And with a built-in scanner, our app houses everything you need to track the complete lifecycles of your fixed assets – all from the smartphone or tablet you already carry. To learn more, visit assetpanda.com
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