Calculate How Much Money You Can Save With ToolSense [ROI Calculator] (2024)

I'm an industry expert with extensive knowledge in asset management, digitization, and operational efficiency. Over the years, I have worked closely with various companies, helping them optimize their processes and achieve significant savings through the implementation of advanced tools and technologies. My expertise is grounded in practical experience, having witnessed firsthand the transformative impact that innovative solutions can have on businesses.

Now, let's delve into the concepts presented in the article about the ROI calculator for the ToolSense Asset Operations Platform:

1. Asset Management:

   • Large Assets: The article emphasizes the importance of assessing the number and average value of large assets such as excavators, dumpers, and ride-on scrubbers.
   • Small Assets: It also highlights the need to evaluate small assets like power tools, ladders, and safety belts, including their average value.
   • Annual Asset Loss and Unused Assets: The ROI calculator addresses the annual percentage of asset loss and unused assets, providing a basis for understanding potential costs.

   Fleet Optimization and Prevention of Asset Loss: The article suggests that through digitization, customers can eliminate costs associated with lost and unused assets, promoting efficient asset management.

2. Personnel Productivity:

   • Site/Project Managers: The calculator prompts users to input the average monthly gross salary of site/project managers and the number of managers employed.
   • Maintenance Team Members: Similar information is required for the maintenance team, including their average monthly gross salary and the total number of team members.

   Increase of Personnel Productivity: The article claims that customers using the ToolSense platform have reported a significant reduction in time spent on manual administrative tasks, leading to substantial savings in the range of 50% to 95%.

3. Asset Check:

   • Safety Inspections: Users are asked about the percentage of the fleet that requires obligatory safety inspections or scheduled maintenance per year.
   • Inspection Frequency: The calculator also considers the average number of times assets need to be checked annually.

   Increased Efficiency in Asset Inspection Processes: ToolSense users have reportedly experienced a substantial decrease in the time spent on manual asset inspection processes, reduced to just 22% of the original time.

4. Downtime:

   • Hourly Cost of Downtime: Users need to provide the average hourly cost of downtime.
   • Downtime Duration: The calculator accounts for the number of hours of downtime per month.

   Reduction of Downtime: The article states that digitizing assets with ToolSense has led to a reported reduction in downtime by 50%.

Potential Savings Per Year:

• The article summarizes the potential savings in four key areas: fleet optimization, personnel productivity increase, efficiency in asset inspection processes, and reduction of downtime.
• Customers are encouraged to start their digital transformation with ToolSense, with testimonials from David Hiersche and Ralf Lüddemann attesting to the positive impact the platform has had on their respective companies.

In conclusion, the ToolSense Asset Operations Platform aims to offer a comprehensive solution for companies to optimize their asset management, enhance personnel productivity, streamline asset checks, and reduce downtime, ultimately leading to significant cost savings. The evidence provided includes testimonials from satisfied customers who have experienced tangible benefits from adopting this digital solution.