Implementing a maintenance management software system enhances your company and the quality of your assets.
Even updating to a more current or more appropriate application can deliver benefits for most businesses. But the decision to pursue a new asset management solution often boils down to a single factor: Cost.
The harsh reality is that there is an extremely wide range of costs associated with commercial maintenance management software, and striking the balance between too much and just enough can be tricky. A solution that is perfect for one company may not be right for the next – when those companies are located within the same industry.
Unless you have money to burn, you need to get a handle on maintenance management software costs before you seriously consider a purchase or upgrade. Here are a few of the issues we think you should consider.
One of the frustrating aspects of cost comparisons is that vendors utilize a variety of price structures. Some vendors use a standard base price for the product plus an additional per-user cost. Others eliminate the base price altogether and instead charge a higher per-user fee. Complicating the process even further is the fact that you will encounter additional costs for modules that may be standard features in another product offering. Ultimately, you'll have to slog through the confusion to know what you're getting and how much it will cost when you do price comparisons.
The most basic asset management software can be purchased for as low as $450, while sophisticated products at the upper end of the scale can run $100,000 or more. A standard preventative maintenance application for a small company usually falls in the range of $1500-$8000 depending on the number of users you require. Solutions that provide more complex features for medium-sized companies can be had for between $10,000 and $40,000. Keep in mind that training and implementation are often up-charges and you can expect to spend 15% to 20% of the initial purchase price on annual support and software upgrades.
The best way to manage the cost of your maintenance management system is to carefully identify the features you actually need. Work closely with yours staff and leadership team to identify critical features, and then let those features guide your search.