The average U.S. employee wastes between 1 and 21.8 hours a week on administrative tasks like filling out repetitive paperwork, tracking down missing resources, and generating low-value notifications and emails.
On top of that, the average company loses thousands of man-hours a year to maintenance issues such as broken equipment and lack of raw materials. Between replacing physical resources and managing lost labor, that’s a cost hit to the corporate P&L.
What if you could get all those unproductive hours back? What if your employees could use software to streamline the workday,stop wasting time, and be more productive?
This is the power of Stave AssetPath, an innovative asset management tool. It has a proven track record of increasing labor utilization by 10% and reducing annual maintenance costs by more than 40%. Here’s how.
AssetPath takes a proactive approach to asset management, which means you stay ahead of the curve. Track every resource down to the smallest detail, timing the sourcing of fresh assets to perfectly match your workflow.
This proactive method of asset management allows you to stop doing unproductive work like making lists by hand, creating spreadsheets, and having endless discussions and emails about missing resources. It’s all handled in AssetPath.
AssetPath provides a single, cloud-based vault of information about your assets. Employees use it to source materials and maintain inventory. There’s never any question about where things stand, because real-time stats are available right at your fingertips.
Decreasing Costs Through Details
When it comes to cost management, it’s all about the details. Each little cost throughout your company – including every single item that is broken or missing – adds up to big bucks.
With AssetPath, you can track every asset across your company, down to the smallest detail. Devices, tools, equipment, vehicles, furniture … even the individual components of every piece of equipment. Track it all.
And when you can track it, you can account for it. AssetPath gives you a firm grip on where your resource budget is going. Graphical reports and insightful analytics highlight trouble in advance and show how the company can improve cost management.
Costs are also minimized because AssetPath is a mobile, cloud-based solution. Consult it from anywhere – sitting in the office or traveling across the world. This keeps your employees productive and prevents costly downtime.
It’s a self-service platform that puts the power in the hands of users. The average employee will find it to be intuitive and similar to using their favorite mobile apps.
Stave stands behind the benefits of AssetPath, sharing Deloitte research that has shown the effectiveness of using it in the real world. AssetPath customers have seen outcomes like:
- Increased asset uptime and availability by more than 20%
- Reduced in annual maintenance costs by more than 40%
- Savings up to 20% of total life cycle costs
- Increased return on assets (ROA) by up to 5%
- Increased labor utilization by more than 10%
- Reduced inventory levels and costs by more than 20%
- Reduced parts and materials costs by up to 10%
- Reduction in overtime labor and contractor costs by 50%
In fact, for a typical company, AssetPath implementation yields benefits equivalent to 20% of the total spending portfolio within 3 to 5 years. That’s huge! We can’t wait to show you results like these for your company.
To learn more about Stave AssetPath, watch this short video or connect with us for more information. Try AssetPath for free now in the ServiceNow store.