Here’s a great story…things are going fine until you realize you’re losing 250k per year.
One of our clients is a leader in the Medical Services industry, operating 50 centers in the eastern United States with 6-10 medical imaging devices in each location. Some of these highly sophisticated pieces of equipment use nuclear devices. By U.S. law, all nuclear devices are required to have comprehensive maintenance contracts in place to ensure that they continue to function as designed and avoid lighting someone on fire by mistake. We wholeheartedly agree that maintenance is vitally important for nuclear devices for this very reason.When they reached out to us, they had been operating for about 4-5 years using spreadsheets to organize and manage their maintenance records. One thing we have learned with maintenance management (and Fixed Assets in general) is that problems typically arise from two things: a lack of resolve or a lack of systems (sometimes both). And while this company is run by competent business minds very capable of managing a process such as this, their situation was a direct result of rapid growth meeting tapped out resources and systems. They knew they needed something better in place if they were going to continue to grow in the right way.When we started implementing Fame Maintenance, we also suggested that several best practices be implemented immediately including a thorough reconciliation to account for each and every piece of equipment.
In the process, we discovered multiple pieces of equipment that were no longer in existence! And no one knew it! Adding further insult to injury, this company was still paying for maintenance contracts on the non-existent equipment.
Imagine reporting that to your Board of Directors. That’s a bad day.In the end, our client estimates that just implementing Fame Maintenance has saved them more than $250,000 annually. But just as important, having a near-enterprise level maintenance management software tool in place to properly and effectively manage their assets brings tremendous confidence in knowing that each individual piece of equipment is accounted for, operational, and properly maintained.It’s great to know how much your assets are worth. Most CFO’s can recite that from a balance sheet in less than 5 seconds. But do you know all you need to?
- How much are they costing your organization?
- Are all of your assets accounted for?
- Are they being used appropriately?
- Are you sure?
If you don’t have this confidence that our client now has, we want to talk to you about Fame Maintenance and see if we can help you uncover any problems of your own.