With Asset Panda, Tracking Tools Among Multiple Construction Sites is Simple

Tracking Tools Saves Thousands on Construction Job Sites

With Asset Panda, Tracking Tools Among Multiple Construction Sites is SimpleOn a typical construction site, you’ll find a large inventory of tools and equipment, which is why tracking tools accurately and efficiently are vital for any construction company. The last thing any company wants is for productivity to grind to a halt because the crew doesn’t have the tools they need. Imagine this scenario: A crew arrives at a site to discover that it needs a specific tool. Without a means to locate the whereabouts of the item, a crew member then has to get on the phone or purchase a new one. The construction company, then, loses time, money or both. This can have a domino effect and delay not only the project at hand but other projects, as well.

In order to keep its projects on schedule, a company must be able to determine which tools, and how many, each of its crews requires. They should be able to take a 30,000-foot view of their organization, decipher where tools are needed and where they’re sitting idle. Companies must also be able to track the condition of those tools. If repairs or replacements are needed, then, they can plan ahead so that there are no surprises. Tracking tools in real time can help eliminate theft and loss. Finally – and perhaps most important – having an efficient system for tracking tools can help companies protect the safety of their crews. A tool or piece of equipment that hasn’t been properly maintained can pose serious risks to crew members.


“Having an efficient system for tracking tools can help companies protect the safety of their crews.”


If you’ve been using a manual Excel spreadsheet for tracking tools, that method has many, many drawbacks. First, the data isn’t in real time – the spreadsheet is dependent on an employee keeping up with data entry and updating. Second, it doesn’t close the communication loop. If someone has that spreadsheet open, someone else can’t enter data into it. You can’t consolidate changes. Third, errors are extremely common with manual data entry. All it takes is one missed keystroke. Your data is as accurate as the employee you’ve assigned to keep up with it. And even the most detail-oriented employee is bound to make a mistake. Fourth, you can’t submit work orders, schedule notifications, and alerts, and examine your data from a macro or micro perspective, determining needs either across the entire organization or within a specific unit. Fifth, you can’t export or import data into an Excel spreadsheet without a lot of hassle.

A mobile system for tracking tools is the way to go – in terms of ease of use, flexibility, customization, accuracy, and communication, not to mention peace of mind. Your best bet is to equip your crews with access to a real-time platform where they can determine in seconds the exact location and condition of an item, the identity of the person who has it, its check-in/check-out status, insurance policy and/or warranty information, and more. Asset Panda empowers them to do all of these things and so much more – all through an intuitive mobile app that syncs with the cloud. Everything you and your employees need for tracking tools lives in the palm of your hand, and thanks to the cloud, your data is always up to date. Create work orders, check maintenance histories, schedule alerts and notifications, set up custom security settings, and issue reports. Arrange your data exactly how you want; Asset Panda adapts to your needs.

With Asset Panda, tracking tools have never been easier or more cost-effective. Try it free for 14 days, and you’ll discover why clients from every industry already trust us to help them manage millions of dollars’ worth of their most vital assets. To learn more, visit assetpanda.com. 


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Tracking tools and equipment is vitally important on construction job sites because they’re prime targets for theft. A 2014 study commissioned by the National Insurance Crime Bureau (NICB) and National Equipment Register (NER) found that an estimated $300 million to $1 billion is lost nationwide due to construction theft, and only 23 percent of that total is ever recovered by law enforcement. Although the study’s findings indicate that the most common targets for theft are wheeled and tracked loaders (36 percent), towables (35 percent) and skid steer loaders (15 percent), smaller tools are not exempt from the threat of theft. In fact, Security Management states that tools and building supplies are frequently stolen by employees. The financial loss associated with theft of those items might seem to pale in comparison to heavy equipment; however, as with any theft situation, once you add up the loss over time, considering multiple employees and multiple tools and supplies, it’s not difficult to understand the negative impact to a construction company’s bottom line.

Typically, the task of tracking tools has been handled through an Excel spreadsheet or, perhaps even worse, pen and paper. Unfortunately, such manual processes are error-prone and extremely inefficient. Even the most detail-oriented employee is bound to make the occasional typo. If the job of logging data has been assigned to multiple employees, it’s very easy to duplicate efforts or experience gaps due to oversight, busy schedules, staff reassignments and/or miscommunication. Your best bet to “outsource” tracking tools to a reliable platform that does the heavy lifting for you – and helps reduce theft, loss, wasted time and money at your organization.

Tracking tools through a powerful, yet intuitive asset tracking platform gives you peace of mind for several reasons. First, your data is accurate and in real time. Second, you can access details about the complete lifecycle of your tools – from their respective locations to their complete maintenance histories, values, warranties, lease/purchase information, check-in/check-out status, and more. You and your field workers no longer have to spin your wheels trying to track down assets. Nor do you discover that you’ve been paying insurance on ghost assets you don’t even have in your inventory anymore. You From every standpoint, a reliable platform for tracking tools makes good business sense.

Aside from implementing a formal system for tracking tools, there are other measures construction companies can take to reduce theft and loss on job sites.

The LoJack Corporation Study on Construction Equipment and Theft issued the following recommendations for companies seeking to protect their assets:

  • Create inventory records
  • Secure machine identifiers in various locations on the equipment
  • Hire security over long weekends and holidays to watch the job site
  • Properly vet and screen employees as well as verify authorized personnel, including drivers
  • Lock up keys, perhaps even off site
  • Control job site access points
  • Circle larger equipment around smaller assets
  • Chain pieces to each other
  • Invest in lighting, fencing and cameras

Asset Panda can help construction companies curb theft and loss through its powerful, yet intuitive software. Powered by free mobile iOS and Android apps that sync with the cloud, Asset Panda offers you an easy way to access your comprehensive asset data in real time 24 hours a day – and no additional hardware is required. With Asset Panda, you can close the communication loop among all of your stakeholders, get the most out of your vital tools and equipment, and protect your bottom line.

The best way to get acquainted with Asset Panda is to begin your free 14-day trial. To learn more, go to assetpanda.com




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