Track your tools – Technology can help you stop the nickel-and-diming

Description

Abstract: Losses of small tools, whether to carelessness or outright theft, can slowly but surely nickel-and-dime a contractor into a disadvantageous financial position. Fortunately, technology offers a variety of tools for coping with this problem. This article explains how bar-code systems can not only track tools, but in the process improve management efficiency and lower liability risks. And integrating a tool-tracking system into the accounting system can boost the value of tool-related data and streamline procurement of these assets.