Since the start of the great recession in 2008—when investors were just starting to recover from bad portfolio returns, and when companies (the ones that weren’t wiped out) learned how to function in a new lean and mean environment—many businesses have never fully recovered.
Not only have they not recovered in terms of the specific employee count they may have had before, but their mentality just isn’t the same as it once was.
But maybe that is a good thing?
What that shift did for many business owners was that it taught them how to thrive and do more with less. It allowed them to look for areas that could be cut, it sent many to the internet for solutions and it allowed many businesses to capitalize on their core strengths.
For property owners specifically, looking for ways to be proactive and cut costs while still maintaining the integrity of their properties was something they were dealing with in 2008, and something most are still dealing with today. But thanks to the advancement of collaborative operations software, it isn’t as hard as it once was.
Below are 3 Ways Collaborative Operations Software can cut operational cost
Reduces Downtime, Increases Uptime What reducing downtime really means is that it increases uptime. And increasing uptime allows for greater productivity. Greater productivity leads to increased profits. A collaborative operations software can be used to reduce the cost of lost production and can be used to decrease the amount of time production staff stays idle.
Streamlines Communication Adapting a collaborative operations software system can help automate the communication process. It puts all of that (often complicated) communication between managers, technicians, and service requesters into one place. With an automated process, things can be added and optimized and everyone is on the same communication loop. A collaborative operations software like Common Areas, for example, allows for an easier approval and assignment process. It also allows you to prioritize what needs to be completed and when and can help to automate scheduling, which helps to identify maintenance problems early.
Prevents Equipment Failures, Stretches the Life of Your Assets It is no secret that corrective measures are much more expensive than preventative maintenance. With equipment failures comes lost production time. With lost production time, you will likely have increased overtime and increased labor. A collaborative operations software can help to identify equipment that needs parts replaced and it can set up a preventive maintenance schedule before that equipment fails.
These are just a few ways collaborative operations software can cut operational cost. Collaborative operations software goes far beyond simply tracking daily work orders. It helps to keep parts inventory costs low, improves overall company communication, extends the life of an asset and helps with preventative maintenance—all things that will improve a company’s bottom line and cut operational cost over time.