Understanding the Total Cost of Ownership for Construction Equipment

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Considerations for TCO in Construction

As construction equipment is one of a contractor’s highest cost centers, being cost conscious on your owning and operating costs is critical for equipment owners and managers. All contractors calculate the total cost of ownership for construction equipment, or TCO in construction, a little bit differently, with various expenses to consider.
  • Know What You Own
  • Monitor How Often Your Machines Are Used
  • Properly Maintain Your Machines
  • Schedule the Assets You Need, When You Need Them
  • Monitor Your Fuel Consumption
  • Know How Much Your Assets Are Earning
  • Inspect Your Equipment Before Use for Safe Performance
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Finance – Asset Management Generates Earnings and Savings [PDF]

Equipment management brings numerous financial benefits to contractors. All assets impact the budget, and Tenna’s platform helps you better understand your total cost of ownership for your construction equipment.

How Equipment Fleet Management Affects the Bottom Line

In construction businesses, the more transparency you have over your assets (people, equipment, tools), the more margin you can earn, more competitive you will be and more profit you will generate.
  • Improve Productivity and Progress
  • Provide Insights on Operational Efficiencies and Performance
  • Increase Competitiveness
  • Reduce Capital Expenditures
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How Equipment Fleet Management Affects the Bottom Line [BLOG]

Equipment fleet and asset management directly affects your bottom line in four simple, but major ways.

How to Maximize Construction Equipment Utilization

Equipment amounts to a major percentage of a construction business’ annual capital expenses. Construction technology helps contractors get more out of their costly investments with improved utilization, ensuring your machines are work as efficiently as possible for you.
  • Measure Equipment Utilization
  • Maintain Your Equipment
  • Master Construction Technology
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Contractor Challenges During COVID19
Finance Efficiencies For Positive Job Cycles [PDF]

Tenna helps construction businesses put an optimal asset management strategy into place to increase operational efficiencies and decrease financial waste, keeping jobsite cycles on track and business cycles trending positively.

What Your Equipment Could be Costing You

Maintaining an equipment fleet is one of the biggest capital investments of a construction business. Fortunately, construction technology today can help contractors better manage their TCO in construction equipment and their many associated costs.
  • Breakdowns and Repairs
  • Hoarding
  • Repurchases
  • Logistics
  • Idle Time
  • Accidents
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What Doing Nothing May Cost You [PDF]

Construction technology delivers an ROI for your business in so many ways. Without incorporating a construction technology solution into your operations, you are undoubtedly incurring additional costs that could be easily cut from your bottom line.

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