Take Charge of Your Maintenance Budget with Redlist CMMS

Budgeting for any department is a common struggle for any organization. Creating and sticking to a maintenance budget can be challenging in the face of an unending number of maintenance tasks. Without the proper strategy and tools, maintenance costs can easily get out of control resulting in significant losses for the company.

In this post, we present the use of Redlist CMMS, or computerized maintenance management system, as a valuable way of managing your maintenance budget. You will learn the varied ways Redlist CMMS facilitates maintenance processes to reach your bottom line, all while keeping your maintenance budget in line.

What is Redlist CMMS?

Redlist CMMS is software specifically made to manage all maintenance processes in one centralized, accessible, and user-friendly platform. The CMMS provides a secure database where users can store, organize, and access asset information. Also, Redlist allows for faster and more accurate work order processing, where managers and team members can plan, create, and accomplish work orders all in one platform.

Furthermore, Redlist CMMS enables seamless connections through IoT (Internet of Things) or sensors, allowing maintenance teams to automate tasks such as asset testing and monitoring. As if that was not enough, Redlist CMMS also allows teams to manage maintenance inventory levels through real-time updates on stock levels, low-stock alerts, and automated purchase orders. Finally, Redlist CMMS integrates maintenance processes with other department systems such as accounting, operations tracking, etc. This integration eliminates data silos and facilitates collaboration within an organization, making budgeting more efficient and accurate.

Redlist CMMS and the Maintenance Budget

Creating, implementing, and monitoring the maintenance budget can benefit from Redlist CMMS through the following ways:

Maintenance Budget Planning

A maintenance budget often needs to be flexible, but it should not be based on guesswork or ballpark estimations. Planning for the maintenance budget starts with evaluating all the maintenance tasks that need to be done, scheduled or otherwise, i.e., emergency, or corrective tasks. Planning for these tasks and forecasting the budget needed to accomplish them should be based on actual data from previous repairs or maintenance activities.

With Redlist CMMS, teams can keep accurate records of previous maintenance work and thus, can have a better estimate for the next maintenance budget. Redlist CMMS can easily generate reports on the expenses of each work order including the cost of spare parts, materials, labor, and other resources. Additionally, Redlist can provide data on unscheduled maintenance so that teams can include these expenses in the budget. Then, maintenance teams can include these unscheduled tasks in their preventive maintenance program to reduce their occurrence and costs. 

Asset Optimization

Asset optimization or the act of managing assets to get the most out of their lifespan is a practice that has major effects on the maintenance budget. The more asset-optimizing tasks that the maintenance team executes, the higher the maintenance costs. But at the right level, these tasks can save the company from the costs of replacing the assets and other indirect costs such as high downtime and productivity losses. Not performing asset-optimizing tasks means having a lower maintenance budget, but it can also result in higher costs over time because of low asset reliability and high asset failure.

Redlist CMMS provides a results-based insight into your asset optimization measures and their consequences for your current budget. This way, you can reduce the maintenance budget on unnecessary tasks and focus on other areas that will optimize the use of your assets.

Energy Efficiency

Improving the energy efficiency of the assets and facilities can also affect the maintenance budget. Energy consumption of assets increases during their lifespan and with the criticality or conditions. Assets that are older and prone to failure would consume more electricity than new assets that are in excellent reliability or condition. Low energy efficient assets increase the maintenance budget through high energy consumption and high failure rate.

Redlist CMMS is the ideal tool to monitor and track asset health and lifespan. It allows you to keep records of the original manufacturer’s specifications for accurate energy allocation. This can help you identify the assets that need to be modified to make them more energy efficient. Redlist CMMS can also generate reports on work hours, facility usage, and other energy management metrics which will allow managers to modify maintenance operations to conserve energy and lower the maintenance budget.

Emergency Maintenance Reduction

As mentioned above, shifting the focus of maintenance from emergency or corrective tasks to preventive tasks can reduce the maintenance budget. Preventive maintenance, however, can also increase the maintenance budget if not done properly. You must ensure that any preventive, predictive, and similar measures that you implement on your assets are in fact reducing the amount of emergency maintenance and thus reducing your emergency maintenance costs.

With Redlist CMMS, you can easily manage preventive maintenance and other proactive maintenance strategies and track their effects. You can analyze the historical data of your emergency maintenance tasks and identify the improvements, if any. You can also have a clear overview of your current preventive maintenance program. This way, you can eliminate or modify the tasks that are costly but are not reducing the emergency tasks as they should.

Take Charge with Redlist CMMS

Managing the maintenance budget is a continuous exercise. Every year’s maintenance data should provide insights into improving the next year’s budget. Redlist CMMS lets you manage your annual maintenance data so you can plan your maintenance budget more accurately year after year. A maintenance budget that is flexible and can adapt as your organization and its assets change is the best maintenance budget you can have.

Do not let your maintenance budget dictate and limit your maintenance decisions. Manage your maintenance data with Redlist CMMS and take charge of your maintenance budget. Schedule a Redlist demo and experience efficient maintenance and fuss-free budgeting today!