The Checker Blog

Why Is Equipment an Asset, Not Just a Tool?

Posted by Shawn Macpherson on Wed, Mar 13, 2019 @ 12:01 PM

assets

In companies that use heavy equipment, personnel tend to view that equipment as nothing more than a tool to get the job done.

But it’s more than a tool. To correctly understand the value and importance of any piece of heavy equipment, you must consider it as an asset. It is a resource that has an economic value for the organization that owns it—a resource that should provide future benefits down the line.

Heavy equipment is a long-term asset—in both accounting and practical terms. It’s not only  essential to get the job done, it has financial value. The more you take care of these assets, the better they will serve, and the more value they will generate over the long-term. 

When people and organizations look at their equipment as simple tools, they are more likely to abuse that equipment, use if for tasks it wasn’t designed for, and not give it the proper care, attention, and maintenance it requires.

The result? Lower life expectancy of the equipment asset, loss of value, and equipment that’s not as efficient as it should be.

Audits and Inspections Maximize an Asset’s Value

To maximize your equipment's value and ensure productivity in the workplace, conduct regular audits and inspections. They will guarantee your assets are kept in tip-top shape, thereby protecting their value. And they help you to not get caught off-guard by malfunctions that can disrupt day-to-day operations.

Takeaway

Audits and inspections protect the value of pieces of heavy equipment, which are assets that are well worth protecting.

The Checker Software is the perfect tool for these audits and inspections.

 

For more information on the Checker software, please feel free to visit The Checker website or contact us directly at 905.825.0172 or info@thechecker.net. 

 

Topics: inspections and profitability, equipment maintenance, why inspect?