With the trend towards mobile workforce management for field service workers, utility asset tracking is a logical and compatible solution that just makes sense for streamlining field documentation. More and more field service workers, including those in the utility industry, are relying on automated processes to improve response times, enhance customer service and provide more consistent utility services to consumers.
Aging Infrastructures Stress Utility Providers
Utility companies rely on billions of dollars in equipment and other assets to provide necessary utilities to end consumers. And consumer demands are becoming more stringent every day – an hour without power, or even a few minutes without internet service, is a major inconvenience for both enterprise consumers and individuals in the modern world.
But with aging infrastructures and insufficient funds for the millions of dollars in upgrades needed to make drastic improvements, utility companies are left struggling to maintain existing infrastructures and extend the lifespan as long as possible. Utility asset tracking allows you to maintain tighter control over regular maintenance and repairs – which in turn extends the usable life of many assets.
Rising Workforce Costs Tighten Budgets
Labor costs are another factor making a major financial impact on utility companies. Storms and other hazards lead to outages, demanding excessive overtime hours – which often must be compensated with shift differentials, time-and-a-half or even double-time pay. The longer it takes to resolve an issue, the more dollars are spent on every incident.
Likewise, customer issues often require a field service visit to identify and resolve problems. These visits alone can drag on for hours, again leading to additional stress on the budget. Utility asset tracking helps field service workers pinpoint problems more quickly as well as identify specific parts required and obtain replacements within minutes. Even if an asset must be re-ordered from a third-party vendor, the ordering process is as simple as a few clicks, depending on the asset management software program used.
Planning, Budgeting, and Location Mapping
Utility asset tracking also streamlines budgetary planning, with the capability to create a comprehensive map of all current assets, locations, age, usable life estimates and more. The process of allocating funds to specific areas of operation is aided with a clear overview of the current state of affairs. You can more easily predict which assets will need to be replaced within a given year – and even plan ahead for infrastructure updates to avoid service downtime.
Utility rates are on an upward trend, leaving consumers frustrated and utility companies struggling to keep costs as low as possible – all while trying to improve services and do more under tighter and tighter budgets. Utility asset tracking saves both time and money, allowing you to put those extra funds to use for updating infrastructures and maintaining equipment, or even passing on cost savings to customers.