Increase Return on Investment
Increase your Return or reduce your Investment. Easy to say; difficult to do.
Internal and external processes, asset management, staff productivity, introducing technology and improving quality of revenue all play a part.
Improving the productivity of staff to reduce overtime or enable growth without increasing overheads. Having clear processes and policies helps hugely, as does having the correct information in front of the right people.
Examples of useful information are a hire controller having full details of tomorrow’s deliveries and collections on a single report or a utilisation dashboard for the asset manager. Both scheduling drivers and making capex or disposal decisions are extremely important and, if done badly, adversely affect your ROI.
Technology can carry out low value tasks such as cross-checking re-hired items between supplier and customer. Fitters can enter service details directly into the system via a tablet. Service tags can also be printed automatically rather than being hand-written.
Better asset management decisions reduce capex and enable more cost-effective disposals. Disposing of low utilisation or parasite assets free up cash to invest in assets which yield higher ROI.