Mohit Tater's Blog, page 545

Have you Tried Restructuring your Business?

The term restructuring basically means to go about making significant changes within a company in order to avoid serious financial downfall. The changes typically will come from the corporate level. They may include the reorganization of how the business operates or a decision may be made to completely change the ownership of the company. Another change could include the overall structure of the business.

Signs that a Company May Need Restructuring

Some signs that a company may notice when they are in need of reconstruction are, constant low profits, burnout employees, large numbers of employees quitting and then others being rehired. Sometimes it is very easy to notice when a company needs to be redesigned and put on a totally different track. However, even though these signs are obvious, many businesses have to near actual bankruptcy before they do. Fortunately, company restructuring is becoming more and more common, and a lot of business owners are realizing that it is not the end of the world, but the beginning of a more profitable circumstance.

Various Company Restructuring

Company restructuring is a serious endeavor that can save a business quite a bit of money if done correctly. Some organizations will seek the help of an organization design firm in order to assist them in the changes.

Some various kinds of corporate restructuring are:



DemergerMerger or acquisitionsCapital reductionPartnering with other companiesDivestment

Combining the administration office is a type of change that can be done to reduce company costs. When two companies merge together to become one entity, there is always a very good chance of money being saved. Some companies in an effort to reduce costs overhead will turn to combine all technology and computer programs.

Changing the types of products that are being sold, perhaps to resorting to more modern up-to-date items can be accepted as part of company restructuring. However, this type of method will often end up, needing also a change in company strategy. A change in strategy could be, for example when a business decides to turn to provide a type of service, instead of only selling products. So, the company has now decided to provide services and sell products at the same time. This is called repositioning.

Sometimes there are parts of a company that is simply not making money. If this happens the business unit may be considered for divestment. These parts of a larger company are called business units. A business unit can be a team within the company or it can be a department. If a business unit is designed to make a revenue, but it has been having trouble doing that, then during financial difficulties, the team may be considered for divestment. Instead of spending more money to make the successful, divestment may be considered, etc. If a company decides to close down a particular part of a business, it normally means that all efforts have been exhausted.

Many companies have found it to be quite beneficial to have their companies redesigned and taken into another direction. Sometimes it takes a team of experts who have been trained and educated in these specific types of situations, to get the company on the right track. Afterward, in most cases, the company now has a second chance to flourish.

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How to Refresh Your Brand in 4 Easy Steps

Every forward-thinking, famous company routinely freshens up their iconic branding to appear relevant, credible and professional. 

If your logo is looking outdated or your website hasn’t been tweaked or changed in the past few years, it might be time to breathe new life into your visuals to continually attract new and existing customers. 

It is, however, important to make changes without losing your identity during the process. Read the below advice on how to refresh your brand in four easy steps.

Step One: Streamline Your Logo

You only need to look at the evolution of the McDonald’s, Coca-Cola and Starbucks logos to discover that successful companies are streamlining their branding. 

Most brands tend to use no more than two colors in the visual and do not heavily feature graphic adornments, such as embossing or shadows. It might be wise to review various modern logos to effectively simplify your branding and make it relevant for 2019 and beyond.

You also shouldn’t forget to update the logo across the business, such as on your website, social media platforms, marketing materials and bricks and mortar signs. You could even highlight your new, contemporary logo with eye-catching, illuminated signs, which could make passersby take notice of your business.

Step Two: Update Your Website

Small changes can make a dramatic difference to your company’s website. It should not only feature a responsive web design, but you must remove broken links, eliminate error messages and delete outdated flash images that could be slowing your website down and damaging your credibility.

You could also grow your brand recognition and sales by incorporating the latest search engine optimization techniques into your landing pages. For example, you should:

Optimize your content with powerful keywordsWrite informative meta descriptionsPublish high quality, informative contentAdd alt-tagsImprove your page speedOptimize your site for voice search

It could boost your presence in the search engine results pages, increase your recognition, and help you to secure many new customers.

Step Three: Adopt a New Message

A complete company rebrand can be time consuming and expensive, and it could also lead to a loss of identity. Instead, you should aim to adopt a new message, which can breathe new life into your existing brand without damaging your bank balance. For example, you could promote your company’s ethical values or eco-friendly mindset or you could provide a money-saving guarantee.

A new message could help you to tweak your company’s personality and potentially tap into a new audience. So, create a new tagline, elevator pitch and branding statement to motivate others to buy your products and/or services.

Step Four: Eliminate Inconsistencies

There is always room for improvement. To successfully freshen up your brand, you must remove inconsistencies to create a more refined, streamlined image. For example, you should remove redundant elements from your website, logo, social media profiles or email newsletters.You also should say goodbye to bad or outdated content and delete poor quality images on your social media accounts, which could be negatively impacting your branding and reputation.

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6 Tips for Successfully Video Marketing This Year

While there’s only a fourth of the year left, there’s still plenty of time to introduce video content into your marketing plan. Video continues to be one of the most effective ways to market to a broad audience. In fact, according to a study conducted by Cisco, it’s predicted that by 2022, online video content will make up more than 82% of all consumer internet traffic.

The
bottom line is that humans are visual, which means that video content is more
memorable and engaging in comparison to text-based content. If you’re
interested in creating video content, there are some tips and tricks you’ll
want to know to be successful.

Here
are six tips for using video marketing in 2019.

1. Define Your Target Audience

Just
as you write blogs for a certain subset of consumers, you want to do the same
when creating video content. Before creating a video, make sure that you define
who you’re making the video for. Which consumers are likely to be most
interested in the message you’re sharing?

When creating a target audience,
there are all sorts of factors you can consider; such as gender, age, location,
language, and interests. By defining your audience, you can ensure that your
content always reaches the most relevant people.

2. Focus on Value

We’ve all been scrolling on social media, only to come across one of those annoying and frustrating overly-sales-oriented videos. This type of content definitely doesn’t reach the ranks of being some of the most viewed YouTube videos. In fact, if you’re like most people, you watch a few seconds of those videos and then get back to scrolling. You don’t want to be that company!

Even
if your end goal is to increase sales, a sales pitch video won’t be
well-received. You’ll only end up annoying and repelling customers versus
attracting them to your product and brand.

If
you want to create successful videos that produce measurable results, focus on
the value of the content. Appeal to your consumer’s wants and needs. Include a
catchy call to action that fits into the overall story.

3. Get the Point Across Quickly

Social
media and constant scrolling have given us even shorter attention spans. These
days your marketing success is sealed in just a few seconds. Videos need to
catch the viewer’s attention within 10 seconds. This means you need to get
right to the point and spark your audience’s curiosity. You can do this by:

Using teasersCreating a hookAsking questionsUsing graphical elementsBeing funny

You’ll
also want to upload your video using an interesting thumbnail. Both YouTube and
Facebook allow you to select a thumbnail. This way, you can attract attention
that gets people excited to watch your video even before playing it.

Within
the first few seconds, viewers should know why they want to watch your video.
Whether you’re teaching them something new, making them laugh, or inspiring
them, the key is to be catchy, quickly.

4. Silence Matters

Aside
from getting your point across quickly, it’s just as important to find ways to
tell your story with and without sound. Consumers are more likely to watch a
video with the sound off than on.

If you want to get Instagram followers or increase your likes on Facebook, you’ll need to tailor videos to the silent majority.

So
how can you create compelling content without using audio? Some of the best
options include using enticing visuals, colorful captions, and subtitles.
Lengthy text descriptions are also beneficial.

5. Use CTAs

You
don’t create video content just for the sake of creating it. In order to get
consumers to take the action you want, you’ll need to convince them to do so.

Before
posting your video online, you’ll want to ensure that you use a catchy call to
action (CTA). The purpose of the video will drive the CTA. If you’re looking to
sell a new product, use a CTA such as “click for a discount” or “buy now.” You
can also use non-sales CTAs such as:

Drop a commentFollow and like the pageSubscribe to the channelShare the video with friendsCheck out other posts

CTAs
can be used at the beginning, middle, or end of a video, but most markets
choose to include a catchy phrase at the end.

6. Search Engine Optimize

You’d
never write a blog post without optimizing it for search. With consumers
performing billions of searches each day, it’s more important than ever to
optimize your video content. Without optimization, your videos won’t get the
views you need.

To
optimize video content for search engines, be sure to always write a video
description, use keywords in video titles, use video transcripts, and use a
catchy thumbnail image.

Conclusion

Video marketing may seem simple, but there’s a lot of detail and technique that goes into it. If you’re just now introducing video into your marketing campaign, keep these tips and tricks in mind so that you can experience success and a high return on investment.

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How PropTech Startups are Attracting the Biggest Venture Capitalists

The PropTech revolution is in full swing, and today, there’s ever growing excitement around the sector. PropTech investment has skyrocketed over the past few years, and venture capitalists are climbing over each other to get involved with the next big thing. Perhaps it’s unsurprising given the relatively untapped potential of a vast global real estate market, however, the latest wave of digital disrupters is certainly doing something right, and some big players are getting involved.

In 2018 alone, it was estimated that around $14.85bn were pumped into the PropTech ecosystem, and these figures look set to continue skyrocketing as we enter the third decade of the 21st century. However, what is it that PropTech startups are doing differently now, than say, a decade ago? Here, we take a look at the PropTech sector and the exciting new developments that are now attracting the biggest venture capitalists in the world.

Digital Disruption for the Real Estate Industry

The real estate industry has, traditionally, been somewhat resistant to change. Unlike other industries that have embraced digital disruption over the past decade, the slow take up of innovative technologies has been something of an anomaly. The massive scale and broad scope of the industry is perhaps one reason for this, but the thinking also goes that, until now, the tools, platforms, and ideas bought to the table were simply not good enough to fuel real change.

However, today, there is a wealth of startups looking to disrupt the real estate industry across a broad range of sectors. Now, truly smart homes look to be within reach thanks to developments on both the hardware and software sides of PropTech. Blockchain technology and crypto are promising avenues that startups are embracing, geolocation and big data are providing truly insightful data sets, and crowdfunding platforms are helping both businesses and consumers to source and manage funds.

It seems then, that the PropTech sector has reached something of a critical mass, bringing together a wealth of technologies not previously associated with the real estate market. Venture capitalists have been quick to latch onto this, and as each new piece of the tech puzzle has fallen into place, the buzz around the PropTech scene has grown louder.

New Thinking and Innovative Products

Examples of why VCs are flooding the market are everywhere you look. The recent launch of Chicago-based Livly through $10 million in capital from a seed funding round led by Pritzker Group Venture Capital, Navitas Capital, and JLL Spark is prime illustration. Livly’s operating system for buildings leverages software-based solutions to connect all stakeholders of a given building; not only disrupting the traditional landlord/tenant dynamic, but also providing seamlessly integrated rent management, building maintenance, and access to a broad range of other services such as domestics, 

The key here is Livly’s holistic approach to a broad range of disparate problems, essentially connecting tenants, landlords, and service providers through a centralized piece of software. However, more targeted approaches are also making themselves known.  MetaProp’s broad portfolio of startups covers everything from drone-based property inspections to visualized construction management and risk assessment—essentially casting a wide not over the real estate industries future outlook.

Finally, as technology continues to develop and big data, analytics, and blockchain begin to make an impact, many venture capitalists are looking towards the financial side of the real estate market for truly revolutionary “disruption”. The advent of smart contracts and blockchain-based mortgage provisions will shake up a multibillion-dollar industry that is ripe for the picking. It’s no surprise that VCs want a piece of the pie, particularly as PropTech begins to merge with FinTech to revolutionize the way we buy, sell, and rent the spaces we inhabit on a daily basis.  

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How Machine Learning Helps Improve Social Media Data Tracking

Social Media is becoming more and more important as we progress. With a lot of businesses understanding the power these channels hold and all the possibilities they present, data tracking is becoming more of a necessity to increase your business. You need proper data to target the right customers and build an audience. Lead generation will work better if you target your niche rather than the general masses.

This is where machine learning comes in – it gives you a chance to code it to determine patterns. Social media is a gold mine to get relevant information for your business. Machine learning can help you extract these things without having to rely on the algorithm. What we are looking for here is data that is relevant to your business and can add value to your strategy and help increase sales.

Machine learning helps you get unadulterated feedback from your customers without the need to actually approach them. You can interpret messages that represent customer satisfaction, anger, happiness, and distress. Incorporating machine learning in your social media monitoring process is a great way to learn more about the sentiments of your customers.

For example –This analysis of the rich kids of the world based on Instagram uploads is a great example of how elaborate categories of data you can extract. Machine learning was used to identify the contents of 11,850 photos posted on ‘Rich Kids’ Instagram accounts. These are some of the facts that they derived –

32% of photos included a car, and their favorite was the Lamborghini Aventador (17% of all cars featured)19% of photos showed off fashion brands, most often Gucci (21% of brands)63% of drinks in photos were champagne, most often Dom Pérignon (21% of drinks)Instagram users were most envious of and inspired by the 1 in 5 photos featuring Rich Kids on vacation43% were so envious or inspired that they’d pay on average $82 extra to emulate a Rich Kid’s vacation using social media photo services60% failed to tell fake displays of wealth from real on social media, especially teenagers (68%)

The major areas where machine learning can help a business with their social media monitoring process are media analysis, efficient data extraction, and also better data processing. With a rise in influencer marketing and them tagging brands and companies on their photos and videos, the general masses have started doing the same. Some don’t but most have gotten on the bandwagon. So, when they don’t it becomes difficult to find customers talking about your business. Machine learning can help streamline this by determining patterns and logos in images and videos, and then you can collect data on how, where, and when the customers mention your brand on social media.

Like in the earlier mentioned analysis, they were able to deduce the most common themes and brands depicted in over 11,000 photos. Like, the top cars mentioned were Lamborghini, Mercedes-Benz, Rolls-Royce, Porsche, and Ferrari. Even as detailed as the top five handheld objects were alcohol, watch, jewelry, money, and phone. There is an enormous amount of data on the internet with users adding day by day. The main objective here is to find relevant data. Machine learning helps in collecting, extracting, and filtering the data that will actually help you with sales funneling.

Final Thoughts

As social media marketing takes precedence, so will the importance of collecting accurate driving data. Relevant data is the driving force of all the marketing campaigns. Knowing what your customers want and what works the best is the key to successful lead generation and sales funneling. All of these are made more efficient by implementing machine learning.

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5 Ways to Make Sure You Never Fall Behind at Work

Few things are more stressful than facing a huge pile of work and a quickly approaching deadline. Yet, the reality is that most professionals have encountered just this scenario before. There are many reasons why even the most dedicated of employees could fall behind –– some are predictable, others aren’t. And every once in a while a team member may have to work overtime in order to make sure their desk is clear. The key to sustained success, though, is to build good habits that keep you ahead of the game. With that in mind, here are five ways you can make sure you (almost) never get caught behind the eight-ball at work again: 

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Plan Ahead

Obvious, yes, but the more detailed your schedule is, the more effectively you can budget your time. Occasionally last-minute issues may arise that require your attention. Still, people who plan ahead –– and work ahead –– rarely find themselves in a bind. Consider utilizing calendar tools more in the future to help you establish this good habit. 

Communicate

Quality communication can help professionals achieve near optimal productivity levels. When everyone at an office is on the same page, fewer mistakes are made and fewer late nights are required to fix them. In addition, it’s important for employees who are overwhelmed to speak up. If you’ve been given a huge assignment with minimal time to complete it, say so and don’t be afraid to ask others for help. Doing so is preferable to struggling in silence. 

Use Modern Tech

New technology in the workspace is designed to make our lives easier. As such, it behooves professionals to make the most of the tech resources at their disposal. For some pros, that might mean using a mobile pharmacy POS station; for others it could simply be sending a message through a digital chat service. Regardless, the best professionals don’t shy away from tech innovations, but instead, embrace them. 

Eliminate Distractions

Smells from an open window. A conversation between coworkers. Construction noise from the floor below. Any and all of these things can disrupt an employee’s focus and distract them. While it may be impossible to eliminate all distractions in your workspace, do your best to mitigate against loud noises, bad smells, or objects that divert your attention. 

Make Slow Progress

Even great pros have bad days from time to time. Not every moment on the path to success can be a triumph. The best way to ensure you stay on top of your game is to make slow and steady progress through difficult times. Remember, it’s always preferable to get something done than nothing at all. Keep this in mind and you’ll find it much easier to manage your workload.

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4 Next-Level Management Tips to Take Into 2020

The workplace is an ever-evolving beast, and
never before has the rate of change progressed as rapidly as it is today. If
you aren’t staying up to date, you have a lot of work to do.

If your company isn’t operating to its
greatest potential, you need to implement new management strategies. Here are
four ways you can improve the way your business operates.

1. Establish a Clear
Organizational Mission

More than ever before, high-level employees want to feel a sense of purpose at work. For this reason — among others — management needs to have a vision and be forthright about the company’s intentions. It is hard for workers to stay motivated if they don’t understand the organizational mission. Be clear about what that is and work hard to ensure everyone on the team knows where the ship is headed.

2. Prioritize Transparency
at the Top

Along with having a clear direction,
management also needs to be open about its plans and challenges. If there are
problems, let people know. Naturally, some degree of sensitivity will be
necessary in certain situations. But, by and large, the operating philosophy
should be to include the workforce in the inner workings of the company. This will
not only make them feel more connected to the collective objectives, but it
will prevent animosity from arising after a secret is inevitably revealed
through the grapevine, media or other means.

3. Modernize Your
Communication

The new year offers a new chance to improve everything, and upgrading the tech services your workforce needs should be at the top of the list. While computers and other devices are important to update routinely, one specific area that is lagging at many companies is the phone system. By integrating a VoIP for small business, for example, you will empower employees to get the most out of their communications. Rather than wasting time and wresting with outdated technology, your workers will be able to work easily from anywhere on any device with the utmost confidence.

4. Stress Work/Life
Balance

If you really want to succeed in the modern
business environment, you need the right people. And, as mentioned, the best
and the brightest now expect more. They no longer will accept being worked to
the bone with little concern for their personal well being. People need to feel
like they are valued, and this requires respecting them for both their work and their
life outside the office. If someone is going
through a tough time or simply needs to dial back their commitments in a given
week, encourage them to do so. Key work needs to get done, of course, but
managers must think about the long game. Retaining and mentoring top personnel
is what will help you win for years to come. That will always be more important
than any single contract or project that may seem so vital in the moment.

Management With 2020 Vision

The nature of employment is continuing to evolve. Some companies are stuck in the past and fail to realize that workplace expectations are much different today than they were even five short years ago. 

By implementing these management strategies,
you will quickly put yourself ahead of the game. While most bosses are stuck in
the 1990s, alienating their employees with outdated philosophies, you will be
giving workers exactly what they want in the year to come.

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How to Use Technology to Get Your Startup Off the Ground

Technology today offers a wide range of opportunities for businesses in order to make tasks such as marketing and team management easier and hassle-free. But, with so many different tech tools out there today, coupled with the fact that technology is advancing at an extremely rapid rate, it can be difficult for new entrepreneurs to determine where to start. So, we’ve put together this list of ways in which you can use technology to improve your startup and begin building a strong and profitable business. 

#1. Utilize Wearable Tech:

When many of us think of wearable technology, we think about wearing a fitness tracker to the gym or daily to count our steps and other health-related factors. However, there’s much more to wearable technology than health and fitness alone. Wearable tech products such as the Apple Watch and Fitbit are gaining huge popularity amongst consumers, but they also have plenty of legitimate business applications. For example, you can use it for quick and easy communication with your team, setting yourself reminders and keeping notes handy, and much more. 

#2. Market Your Business With Video:

Video marketing is massive and it’s here to stay, with awesome statistics showing just how much engagement companies today get from video compared to any other content type that they may post. As the saying goes, a picture is worth a thousand words – so a video must be worth a thousand photographs. And the statistics back this up – more people are likely to remember your call of action if it is included in a video. And the good news is that thanks to superior smartphone cameras and handy video marketing apps, it’s easier than ever to create your own interesting and engaging marketing videos on a budget. 

#3. Create Custom Solutions:

One of the best things about modern technology is that there’s a lot of freedom involved when it comes to creating a customized solution for your business. Yes, there are a lot of choices out there when it comes to hardware devices and software tools you can use, but what if you are struggling to find one that doesn’t quite fit? You can work with a software developer to come up with an application that’s tailored to meet the needs of your brand, or if it’s a device that you need, Upverter is a great place to start, allowing you to use community uploaded hardware designs or start from scratch to create a prototype for the product you need. 

#4. Utilize Social Media:

Finally, much of business marketing technology today is focused on the popular social media platforms such as Facebook, Twitter, and Instagram. These free to use platforms are where you will find the majority of your target audience, giving you somewhere to get the message out in front of as many potential customers as possible. In addition to being as active as possible across all platforms, you will also need to keep on top of the latest social media trends and make sure that you are engaging with your followers. 

If you’re starting your own business, technology is absolutely essential for achieving the success that you want. 

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WPMU DEV Hosting – A New Hosting Service on the Block to Make Your Life Easier

If you are thinking of launching a website, then you might have come across the daunting task of choosing a hosting service. Finding a good hosting service, with a lot of them available, can take a lot of time and money. If you don’t know what web hosting is then let me give you a quick rundown of it.

Credit: infocux

Web hosting is a service that allows you to have your website or web page live on the Internet – they provide you with services needed to run your website and be viewed on the Internet. We are going to be talking about one such new hosting service by WPMU DEV.

WPMU DEV is an All-in-One WordPress platform that provides much more than just their new Hosting. They have been around for over a decade and provide site management tools, 24/7 support for any WordPress issue, and a suite of premium plugins integrated with their site management tools and hosting. With a membership, you get $30 hosting credit that can be used for any of their plan levels. At the entry level, bronze, that would get you 3 sites. After you have used up all your hosting credits you can add additional sites at $10 each, this is the bronze level of the plan. Subsequently, they have silver, gold, and platinum plans to support scaling as your business increases.

‘The Hub’ is the heart of their platform and allows you to manage all of your WordPress sites in one place. A big advantage this provides over other hosts is that you can even add sites that aren’t hosted with WPMU DEV. Maybe you have a client that has very specific hosting requirements that are not yet fulfilled by the service or you have a new client with an existing live site that you are taking over – the allowance to add sites hosted with other hosts makes transitioning and managing less cumbersome.

Many WordPress sites can be managed in one place while customizing each one of them – giving you a centralized management system. Even though you can handle everything from a single place, every WPMU DEV hosted site gets its own dedicated memory, CPU, and SSD storage resources that are completely independent of any other site – including other sites you host with the service. There are also 8 server locations around the world that you can choose from for better performance.

Backups are one of the basic needs that any business is going to have with the world becoming more and more data-driven by the minute. ‘The Hub’ has nightly back-ups and one-click restores to make it easier for even less tech-savvy people – along with the backups, monitoring, scanning, and updating is easy to automate with their integrated plugins and services.

IPv6 support is provided when it comes to security which makes it less likely to be hacked, unlike IPv4 that are still part of many hosting services. Along with that, two-factor authentication is provided to give you that extra layer of security. 2FA is always advised no matter what service or application you use. Along with that SSL certificate is provided for free when you sign up with the service.

Not only that, when you think about managing various sites, the added work that no one really considers when choosing a hosting service as a developer is creating reports for the clients. Generating reports for the clients is one of the important aspects of this and ‘The Hub’ helps you with that too.

You can provide your clients with crisp and precise white label pdf reports that demonstrate all the updates, security monitoring and performance improvements you’ve done for them. The developers get developer-focused reports if you opt for it – detailing everything you need to know about the sites you manage.

This cuts back a lot of manual work for you and increases the amount of smart work you do, giving you more time to focus on maintaining all the sites you need to be running.  With every aspect taken into account, ‘The Hub’ seems to cover most concerns that are risen with hosting services and gives developers a highly viable hosting option.

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What To Look For In A CMMS Software

A computerized maintenance management system or CMMS software is designed to ensure the efficient and economical maintenance of buildings and facilities. Its tools are intended to make archiving, analysis, tracking, and decision-making easier for you and your business.

If you are planning to invest in a CMMS software for your company, here are the top characteristics that you should look for:

1. Constitutes an Improvement over Your Current System 

Before you start your search, you should conduct a thorough review of the system that you currently have in place. Take note of its strengths, weaknesses, and any features or improvements that you’d like to see in your new software. If there are any challenges that promote inefficiency or result in a decrease in productivity, your new CMMS software should be able to address them.

2. Aligns with Your Team’s Needs

Your CMMS software should directly address the needs and requirements of your team members who are directly or indirectly involved with maintenance operations, as well as representatives from any department who will be using the new software in the future.

Here are some of the people that you should consult when choosing a CMMS software:

Technicians who will be using the software on a day-to-day basisSystem administrators and maintenance managers who will supervise the use of the softwareHealth and safety personnel, especially if you are in an industry that tends to get audited regularly and heavilyReliability engineersOperatorsInventory managers 

Seeking the input of these people will ensure that you are choosing a software that addresses their needs. A CMMS software that contains all the features required by the people who use them will ensure faster adoption and efficient usage.

3. Aligns with Your Business Goals

Focus on the specs of the software rather than how well it is marketed. This means that if a specific software does not have the priority features you need, you can just look elsewhere.

More importantly, the software you choose should help you achieve your business goals. If you are looking to improve efficiency and productivity, for instance, the software should have features that allow you to achieve that.

4. Is Cost-Effective

Always make sure that the costs of purchasing a CMMS software will outweigh the efficiency gains for your business. How much the software will cost your company depends on the features you want, as well as the type of solutions you are opting for.

For instance, if you are considering getting an in-house software, you’ll have to spend more for a dedicated server and compatible hardware. You can save some money instead by choosing a hosted solution that is accessible with an Internet connection.

When assessing your choices, remember that the price listed on the provider’s site may not always be the total price. You may need to pay for other services, including the following:

Scaling costsAdd-on featuresImplementation consultationsOngoing supportFuture upgrades



5. Has all the Functionalities You Need

A CMMS software comes with the following basic capabilities:

Organizing: The software allows you to access and organize different types of documents such as work orders, asset maintenance files, and warranties. It also enables the monitoring of any asset, from implementation to replacement.Planning: It allows you to create a maintenance strategy ahead of time, which can be preventive, predictive, or condition-based, and automate certain tasks to ensure efficiency and productivity.Auditing: You or your managers can easily audit and monitor the maintenance staff. The software can also automatically notify any of the staff members when tasks are pending or completed.

There are also other advanced features for inventory, asset, and labor management. Make sure that the software you choose has all the functionalities you need and is the best fit for your business.

If you want to see how a feature actually works, look into video tutorials and guides. Make sure that you also read buyers’ feedback on legitimate review sites. Contact the provider to see if they can give on-site demonstrations or free trials of the software.

6. Is Compatible with Your Other Systems

Always choose a software that can easily be integrated with any other solutions that you are already using. For instance, do you use different tools or software for payroll, accounting, or telematics? You can greatly reduce the risk of errors when all your systems work seamlessly together.

Conclusion

Choosing your CMMS software involves careful planning and research. By taking the time to figure out your needs and assess your available options, you can confidently choose a software that will improve your efficiency and bottomline. 

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