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Leveraging Technology to Manage Equipment Costs

There are several ways you can use new technology to manage your business costs when purchasing your equipment.

Consider the technology included or available in the equipment you plan to purchase. Certain technologies, such as Product Link, can help you manage your fuel and overall operating costs. By monitoring the fuel consumption of your machine, this technology can help you budget for fuel costs for jobs, as well as the overall investment in a project. Also, look for a manufacturer that offers fuel rebates. If the equipment does not meet certain fuel efficiency standards, the manufacturer may offer you a refund for the difference.
Another benefit of equipping your machines with technology is the ability to better manage your fleet and your workplace more efficiently. Technologies like Cat Connect will let you know where your equipment is at all times and track your equipment utilization so you can efficiently manage labor costs.
Lastly, look for an equipment manufacturer that offers an extended protection plan for their machines. An extended coverage or protection plan helps you plan for unexpected expenses. By paying for extended protection insurance upfront, you know that you are covered in the future. Extended Protection Insurance provides coverage against inflation by allowing you to pay for repair costs up front.

All of these tools can help you manage your business and reduce potential unexpected costs.

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