TENNA has introduced Asset Financials, a new addition to its equipment management platform designed to help contractors better track equipment costs and profitability using telematics data.
The software combines equipment activity with financial information to automate equipment job costing, internal billing and asset-level profit and loss reporting. The goal is to give contractors more accurate visibility into equipment costs by job without relying on manual spreadsheets or estimated usage.
According to the company, equipment costs are often spread across multiple systems, including enterprise resource planning (ERP) software, maintenance platforms, fuel records and telematics, making it difficult to accurately assign costs to individual projects.
Asset Financials uses telematics data and contractor-defined rate rules to allocate equipment costs to specific jobs and cost codes based on actual machine activity. The platform is designed to work alongside existing ERP systems rather than replace them.
Key capabilities include:
- Automated equipment job costing based on real-time machine activity.
- Internal billing records supported by telematics data.
- Asset-level profit and loss reporting.
- Fleet-wide profitability reporting to support equipment purchasing, rental and replacement decisions.
- Financial data formatted for integration with existing accounting systems.
TENNA said contractors can configure the software to match their existing internal billing and equipment rate structures while providing finance and operations teams with a shared view of equipment costs and performance.
