Equipment Cost Management
Rabio can easily be integrated into any business to control budget & costs in various cases. One of these cases is equipment cost management where the need to control budget & costs is critical. In this article, we are going to see how Rabio can help.
What is Equipment?
Equipment is composed of a variety of vehicles, tools, and machinery, which are capable of withstanding the conditions experienced throughout a business. It can virtually relate to any type of equipment used on the business to increase productivity and achieve goals in a quicker and easier manner.
Examples of commonly used equipment
Depending on the scope of works of a business or the industry it belongs there are many examples of equipment use.
For a taxi company equipment are all the cars that are used as taxi cabs.
In the Construction industry, some of the commonly used equipment are :
- Wheel Loaders
- Concrete Mixers
- Water Spray Units
- Pick Ups
For a transport company, equipment is mostly trucks.
Equipment as Centers
In Rabio all equipment needs to be recorded in structure as centers. These centers can be grouped into major groups if there are many similarities. An example of a typical center structure for equipment can be like:
- Excavator 1
- Excavator 2
- Excavator 3
- Truck 1
- Truck 2
- Truck 3
- Truck 4
- Pick Ups
- Pick Up 1
- Pick Up 2
In any business environment, all equipment are typical business units with financial procedures (measured or not) repeated among them. In Rabio they are called categories.
These categories can be grouped into major groups like fuel, spare parts, lubricants, or any other. An example of typical cost categories structure for equipment can be like:
- Spare Parts
- Air Filters
- Lubricant Oil 10W-40
- Lubricant Oil 20W-50
Equipment Cost Management
Controlling of equipment’s budget & costs in Rabio can be done easily following simple steps. Let’s see them.
Budget is the next thing to be recorded where all equipment centers are associated with categories with the budgeted amount. At any moment budget can be updated during the financial period in case this is necessary.
Recording of costs is the next thing. Every action that produces costs for each individual equipment is easy to be tracked on Rabio. Each action is tracked on Rabio for the equipment including date, quantity (if exists), unit cost, and total amount and it is possible to have a counter.
It is possible to add a counter unit measure like kilometers, miles or hours. While recording costs, adding this information Rabio will report consumption reporting like liters per 100 kilometers or liters per hour.
Tags can help in organizing equipment control. Using tags makes it easy to track various information like suppliers, brands or any other useful information that can boost indexing and reporting without the need of using seperated tracking files.
For example, when there are different fuel suppliers the use of a specific tag for each supplier when adding fuel records gives the ability to Rabio to produce reports for any supplier.
External Data Sources
In some cases, external sources can be used for importing data to Rabio. Depending on the case Rabio can integrate with sources like accounting software using exported data.
The reporting system of Rabio is using all the recorded data and provides at any moment summarized reports and detailed information for all the equipment.
The extended flexibility gives the ability to users, with the support of Rabio developing, to include in Rabio new function or reports.
Rabio Demo Equipment Projects
Check the available online demo of Rabio where you can go deep on the recording of equipment & machinery.
There are two available demos, one for Equipment Control and one for a Taxi Company. In both cases, their demo equipment fleets come with a budget and recorded costs.
For more information on how to access the demo, please do visit https://www.rabio.eu/rabio/demo/