Construction Today 2018 - Volume 16, Issue 3 - 71
The ShareMyToolbox app is
available for both iOS and
Android phones and tablets.
guns and cooking supplies. "Some people use it just to catalog
their stuff," Wirtz says. "And that's OK. We've had superintendents
or project managers use it for personal reasons, and then when
their company needed a tool tracking system they recommended
us. It works out."
A mobile barcode tool-tracking system can reduce the annual
cost of buying and managing those tools. According to an industry survey by CFMA (Construction Financial Management
Association), most companies will see a 20 percent drop in tool
expenses after implementing a
modern tool tracking system.
Considering an average
mid-sized contracting company
spends roughly $100,000 on tools,
that's a lot of dough. The survey
also discovered that
50 percent of contractors have given up on tracking
small tools and
Instead of a
many contractors expense tools rather than
including them in asset
But when tools aren't
treated as fixed assets, they
end up being treated like consum-
ables. Expensing tools repeatedly after they go missing from a jobsite can have a significant impact on profit margins. "Small tools are
different from consumables like wire or concrete," Wirtz says. "Their
life lives on past one job and they have multiple years of value. So
it's important to keep track of them."
A lot companies have policies to bill for a tool for a jobsite, sometimes passing the cost on to the client. "Many contractors have
tried to put in place accounting policies to fix field activities," Wirtz
says. "But an accounting policy shouldn't be used in place of
good field management."
software eliminates the need for an
accounting-based tool policy - which
is usually a task that both employees
and company owners and managers dislike, Wirtz says.
In a nutshell, the software
empowers employees and employers to make better use
of tools. They can search
for what they need before
buying new and it enables
the company to track all of
its tools at all times.
ShareMyToolbox takes pride
in its fast, modern, simple and
user-friendly software. It quotes
Albert Einstein on its website:
"Any darn fool can make
something complex; it
takes a genius to make
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