Built for Construction
Tenna was born from within a global construction company over a century old that felt the challenges of asset tracking and management firsthand. Because we understand construction, we developed products to match typical construction industry uses that solve real needs. Our solution facilitates the sharing of critical data for improved visibility, communication and efficiency – helping companies to Know More, Control More, and Make More.
Our construction technology platform is revolutionizing equipment fleet operations. We utilize the latest tracking technologies coupled with our One Platform to give you complete visibility across your entire mixed fleet.
Equipment Fleet Pain Points
Equipment fleet management is a complicated and costly problem experienced by thousands of companies in the construction and industrial sectors and related industries. Managing projects with multiple assets over broad geographical areas is difficult. Regularly changing conditions and schedules make communication and achieving process efficiency and clarity a major challenge when using traditional methods.
Because companies lack full visibility over their assets, they regularly lose sight of them causing owners to incur thousands of dollars in replacement costs, unnecessary rentals, emergency repairs, and related labor costs in any given year. Without a way to clearly see comprehensive asset information such as what is available or what’s in need of maintenance, they buy and accumulate excess assets or rent additional equipment that they already own and overspend on emergency repairs. This occurs not only across projects company-wide, but even on single jobsites, the costs of which compound rapidly.
Assets left on jobsites are easy to forget and are prime targets for theft when left unattended and out in the open. Accountability among the workforce is generally low due to the fast-paced nature of the job. This makes the process of keeping track of assets a lower priority when there is no simple way of doing so and there are fires burning in the field. With these realities, it is nearly impossible to stick to a reasonable budget.
Mismanagement of assets is equally costly as maintenance reports are often communicated inefficiently. Frequently, managers do not discover a piece of equipment is damaged or broken until they try to use it, resulting in an execution slowdown. Many companies do not record data on machine usage either, and consequently, assets sit needlessly idle when they could be rented, sold or utilized elsewhere. These problems make financial planning and asset management reactive rather than proactive.
You may be nodding your head in agreement, and if so, you already recognize that you are not maximizing utilization, thus you aren’t getting the most out of your equipment fleet.
Equipment and Fleet Management Systems for Construction
The results of poor asset management have a domino effect on construction businesses resulting in significant schedule and cost impacts. Optimal management saves time and money, allowing companies to funnel funds back into their businesses and increase competitiveness.
With variations of asset tracking tools becoming more prevalent, including fleet tracking, tool tracking, etc., construction companies are increasingly adopting technology strategies into their standard operations to combat unnecessary losses, like blowing a small-tool budget.
Construction technology software solutions are quickly becoming a business necessity in the construction industry just like estimating and accounting software. In a recent study sponsored by Tenna, 65% of businesses surveyed were reportedly already using an equipment management system or tool.
Such a high percentage of the industry investing in this technology suggests that these businesses are becoming increasingly more cost-competitive at bid time. Companies who have better control over their asset costs and utilization can more accurately estimate work and win jobs with higher profits. For businesses not using asset management yet, it should be something they strongly consider in the coming year.
Not only can businesses recognize profits and savings with systems like Tenna, but workers will become more efficient and accountable, and clients will become more satisfied with contractor performance. There are no downsides to investing in an equipment management solution.
Go Beyond a Dot on a Map—Take Control Over Your Equipment Cost Center
There are many emerging technology providers on the market today eager to show you your assets as dots scattered across the map. Well, a dot on a map will show you where your existing equipment is located, but does it tell you anything else? Our solution will tell you if it is in use, when it is scheduled for another job, what maintenance is required on it, where it has been and a whole lot more. With this information, your equipment manager, shop super or others responsible for your equipment will have utilization data that enables them to make better purchase decisions.
We understand what contractors go through and how expensive a single piece of equipment can be (renting or buying).
Let’s say you think you need a paver.
To buy one, you are looking at a range of $250,000-$500,000+ depending on age, model and make, which can easily equate to a monthly finance payment of $10,000+ per month (understanding the intricacies of credit score, terms and other factors). If you are renting that same piece of equipment, you could be looking at $1200-$2500+ per day.
If you only have a dot on a map you may not know the status of your existing paver—which you assume is busy working on another job. You would also not know whether that paver had been sitting idle for weeks and was no longer needed. If you knew that information, you would realize you don’t need to rent or purchase a new paver, as it would be easier and more cost effective to move the available paver you already own.
Additionally, a dot you would not provide operational and maintenance data, current condition, and the complete historical cost of owning that paver at your fingertips. If you had that information, you may determine it would be more cost effective to purchase a new paver for better reliability instead of risking a schedule-impacting breakdown.
Our solution gives you the full picture, going beyond the dot. It provides you with the information you need to make the most informed decision, gives you more control over your productivity and budget and allows you to make more profit.
Manage your Equipment Fleet Costs like you Manage Labor Costs
All physical assets impact the budget. We deliver a simple and user-friendly system to tag, scan and track all types of material inventory, tools, heavy and light equipment, fleet vehicles and other assets so businesses can effectively manage all their assets on one system. Construction businesses use us to monitor an asset’s utilization, exact location, condition, maintenance needs, personnel and project assignment, financial information, quantity and more in real-time.
Our variety of trackers come in a combination of fully autonomous or simplistic manual options which send data to the platform. The interface and system easily allow employees of all levels to manage assets and access asset analytics and reports.
Our system allows users to see their entire mixed fleet in one place at any time and run accurate and updated reports, eliminating errors and incorrect or missing records.
Why Work with Tenna?
Because we understand the critical need for a solution designed for the construction industry and have experienced first-hand the frustration and detriments associated with not having one, we are able to best serve clients with a unified product that generates savings and makes our clients’ jobs easier. We are not just a solution or a vendor, but a partner that understands the industry’s needs, headaches and time constraints.
Look at your budget vs. actuals for the last project you worked on. How big are the differences? How many equipment rentals did you fail to return, causing you to pay for extra days of non-use? How many ladders have you accumulated in your equipment yard that are lost? How often do you discover gaps in your current reporting caused by lack of visibility or inefficiencies in your communication between the field and the home office?
We understand what you need to know and control to help you make more money. Because we’ve been in your boots, we built a system to let you Know More, Control More and Make More when it comes to your mixed fleet. When looking for a construction technology partner, consider one with over 100 years of experience in the construction industry.
Learn more at www.Tenna.com/ENR