Electrical contractor improves asset management efficiency, recovers $250,000 in lost or stolen equipment with ToolWatch.
Jenco, a locally owned and operated commercial electrical contractor in Scottsdale, Arizona, prides itself on “thinking a little differently.” Over its nearly 30 years in business, the company had developed a sophisticated constellation of customer-focused products, services, tools, strategies, and software that made Jenco one of Arizona’s most sought-after contractors. But like many successful companies, not all Jenco’s internal management systems enjoyed the same attention to detail as its outward-facing services.
Most problematic was Jenco’s tool and equipment management software. While their legacy software did integrate with the company’s accounting system, it wasn’t robust enough to capture costs correctly. Jenco management knew their software was underreporting assets but didn’t know by how much.
“Our system was basically a fancy Excel,” said David Meacham, Jenco’s account manager. “We realized that not only were we not conquering our revenue, we didn’t know where our assets were. We didn't know how many tools we had or where any of them were. It was tool in, tool out and had a very loose billing structure. We didn’t even know how many assets we actually had as a company.”
Jenco management knew they had to upgrade their asset management system. They evaluated a number of options and finally narrowed the candidates to two platforms, ToolWatch and another well-known system. They liked both, but in the end, it was ToolWatch’s intangible benefits that locked in the decision. Although the costs and systems for the two companies appeared generally equal, the immediate selling point was Tool Watch’s training, support, and people.
But when ToolWatch was fully implemented, it quickly became apparent that its superior intangible benefits were just one part of the package. The ToolWatch Pro system Jenco selected included all desktop and mobile software for back office, warehouse, and field teams, plus coaching and training for the entire team.
Right out of the gate, ToolWatch’s seamless integration with other Jenco applications started saving considerable time and money across the board. Employees from office, warehouse, and field were trained to use its powerful features and apply them in an interconnected network that gave everyone instantaneous, granular, real-time data that quickly pinned down equipment locations, availability, costs, and so much more.
“Software is only as good as the people using it.” Meacham observed. “With ToolWatch we can teach people how to use the software to their ability levels. From a tech guru in admin to someone who can barely turn on a computer, we can teach everyone how to use the system.”
With most staff now using the system for various specialized tasks, Jenco realized significantly greater efficiency and accuracy in all operations. As just one of dozens of examples, a field foreman who learned to use ToolWatch now does his own transfers, tracking, and audits. By delegating that task to the foreman, the warehouse manager no longer has to drive from site to site to perform audits. He can rely on the foreman and ToolWatch to update inventories instantly and accurately.
At Jenco, ToolWatch is now available on every device in the office and in the field. Today almost everyone in the company has access to the platform and uses it according to their need and ability. It wasn’t just operating efficiency that improved with ToolWatch. After using the system for five years, Jenco recovered around $250,000 in lost or stolen property that had not been reported correctly.
Account Manager David Meacham remains enthusiastic about Jenco’s ToolWatch system: “We’ve found nothing but great value with ToolWatch.”