If your business depends on equipment to stay up and running smoothly, then you know staying on top of maintenance is a must. But what happens when that piece of equipment is out at a job site for a month and you have no idea how long it ran or when the last maintenance was performed?
Most of the time proper routine maintenance is overlooked, leading to setbacks caused by major mechanical failures. If your company still waits until equipment fails to repair it, then you are wasting thousands of dollars that could be easily spared by preventive maintenance.
What is Corrective Maintenance?
Corrective maintenance is a maintenance task performed to resolve equipment failure and restore it to operational condition. This type of maintenance is the most commonly used approach and it occurs when routine check-ups fall through the cracks, leading to major mechanical problems.
Corrective maintenance could cost thousands of dollars, not to mention if you end up having to replace the equipment what that cost would be.
What is Preventative Maintenance?
Preventative maintenance is any maintenance that is designed to retain the healthy condition of equipment and prevent failure, which could mean an oil change, cleaning or inspection. This type of maintenance has been determined by researchers as the best and most efficient way to maintain equipment. By performing routine maintenance, equipment life can be extended dramatically and reduce the number of major mechanical failures that occur.
Switching to preventative maintenance can not only save you time and money, but increase the value of your equipment drastically. This process change can seem difficult and time-consuming, but there are many tools and solutions that can help. For instance, utilizing equipment maintenance software can streamline this process entirely by allowing you to schedule maintenance based on timing or usage, and receive automatic alarms when maintenance due.
From there, you can dispatch the closest technician and record any repairs that were performed in one, centralized system. Tools like these allow you to see how much money you are spending on equipment and make better decisions.
Here are some other important benefits of implementing a preventative maintenance program:
- Increase equipment uptime and avoid serious breakdowns
- Extended equipment life with routine maintenance
- Improve tech or worker utilization
- Reduce paperwork and administrative tasks with electronic reporting tools
- Improve safety and quality conditions for everyone
Inc. Magazine Includes Pedigree Technologies on Its Annual Exclusive List of America’s Fastest-Growing Private Companies — the Inc. 500 | 5000
FARGO, N.D. — For the third consecutive year, Inc. magazine has ranked Pedigree Technologies on its eighth annual Inc. 500|5000, an exclusive ranking of the nation’s fastest-growing private companies. The list represents the most comprehensive look at the most important segment of the economy — America’s independent entrepreneurs.
“We are thrilled to have made it on the Inc. 500|5000 list for the third year in a row,” said Alex Warner, Founder and CEO of Pedigree Technologies. “This award reflects the hard work and dedication of our employees, who directly contributed to the company’s rapid growth. We are in an exciting sector, combining Machine-to-Machine and Internet of Things technologies with cloud and mobile software solutions for our customers in the energy sector. Our success speaks not only to demand for these solutions, but to the quality and innovation of our web-based software and services, which enables our customers to streamline their company operations in real-time.”
The Fargo-based technology company operates in the fast-growing sector of machine-to-machine (M2M) technology. Pedigree Technologies OneView® is a centralized operations command center for tacking and managing trucks, tanks, heavy equipment, and many other assets. Pedigree Technologies’ tablet and smartphone applications connect remote workers to the home office, allowing companies to gather and respond to workforce data. Built on a unique and scalable platform, these solutions bring together disparate information to help companies increase operational efficiencies, improve workflow, manage logistics, and maintain equipment — all in one simple system.
“We are truly honored by this recognition, which is directly attributable to our hardworking employees, outstanding product and loyal customers,” Warner added.
This year, more startup companies were recognized than global or franchise companies combined. Over 85,000 jobs were created by honorees in the past three years, and aggregate revenue among the honorees reached $216 billion.
Pedigree Technologies is headquartered in Fargo, North Dakota and operates satellite locations in Boston; Denver; Dickinson, ND; Houston; New Orleans; Minneapolis; and Tampa.
Complete results of the Inc. 5000, including company profiles and an interactive database that can be sorted by industry, region and other criteria, can be found at www.inc.com/5000.
Inc. 500|5000 Methodology
The 2014 Inc. 500|5000 is ranked according to percentage revenue growth when comparing 2010 to 2013. To qualify, companies must have been founded and generating revenue by March 31, 2010. They had to be U.S.-based, privately held, for profit, and independent—not subsidiaries or divisions of other companies—as of December 31, 2013. (Since then, a number of companies on the list have gone public or been acquired.) The minimum revenue required for 2010 is $100,000; the minimum for 2013 is $2 million. As always, Inc. reserves the right to decline applicants for subjective reasons. Companies on the Inc. 500 are featured in Inc.’s September issue. They represent the top tier of the Inc. 5000, which can be found at www.inc.com/500.
Founded in 1979 and acquired in 2005 by Mansueto Ventures, Inc. is the only major brand dedicated exclusively to owners and managers of growing private companies, with the aim to deliver real solutions for today’s innovative company builders. Total monthly audience reach for the brand has grown significantly from 2,000,000 in 2010 to over 6,000,000 today. For more information, visit www.inc.com.