Making an investment in IT hardware or software can be a tough decision that brings up a number of questions. Here are some signs that you should implement a system to track your equipment assets.

• High Tool Replacement Costs: The National Insurance Crime Bureau estimates that the construction industry loses $1 billion annually from equipment and tool theft. A tool tracking system helps you keep track of valuable equipment across multiple job sites and projects, so you know that all of your assets are accounted for.
• Lost Productivity:ToolHound not only helps you keep track of where each tool is located at all times, you also can track when a tool was last calibrated or if it's currently in the repair shop. This helps you make sure that the proper tool is available when it's needed on the job site, so you don't have workers getting paid to stand around and wait.
• Maintenance and Safety Issues:To maximize tool life and reduce job site injuries, proper maintenance and certification of your equipment is important.The cost of delays or on-the-job mistakes due to improper tool maintenance can be significant, not to mention the damage to your professional reputation. The ToolHound maintenance module allows you to define and track regular maintenance tasks without changing the way you operate your business.

To read more about the top signs you should invest in tool tracking, visit our blog or read the "Issues in Construction Tool & Equipment Management" white paper.