How to Show Off Your Cheqroom ROI

In this straightforward guide, we'll give you the exact numbers, metrics, and formulas you need to confidently showcase Cheqroom's impact. No guesswork needed - just clear, proven results that will make your decision a no-brainer for stakeholders.

Why ROI Matters for Asset Management

Why focus on ROI? It's the most effective way to demonstrate that your investment in Cheqroom doesn't just produce results — it generates value. When organizations lose control of their costly equipment, tools, and supplies, they face unnecessary expenses, operational inefficiencies, and compliance risks.

With Cheqroom, you gain measurable improvements in:

• Asset Loss Prevention: Reduce equipment loss by up to 45% through real-time tracking and automated check-in/check-out systems
• Operational Efficiency: Save 10+ hours per week by automating equipment check-ins/outs, maintenance schedules, and inventory tracking - tasks that typically consume 25% of an equipment manager's time
• Avoid Unnecessary Project Delays: Cut project delays by 85% with real-time equipment tracking and automated maintenance alerts that ensure your equipment is always ready when needed
• Strategic Equipment Planning: Save up to 30% on equipment costs by using actual usage data to determine whether buying or renting equipment is more cost-effective, while eliminating redundant purchases. For example, higher equipment ownership costs due to tariffs and inflation may make renting equipment a more attractive option.

Setting Up Cheqroom to Track Your ROI

Let's configure your Cheqroom workspace to capture the data points that demonstrate its value. Here's how to set up key tracking metrics:

Operational Metrics Configuration

• Automated Reports: Schedule monthly reports on equipment utilization, maintenance costs, and booking efficiency
• Incident Logging: Create a custom field for tracking equipment failures and associated downtime costs

Now, let's explore how to calculate and demonstrate the concrete value of your Cheqroom investment.

Core ROI Calculation

Use this fundamental formula to measure your return on investment:

Key ROI Metrics to Track

• Time Savings Analysis:
  • Staff hours spent on equipment management: Track weekly hours spent on tasks like check-ins/outs, inventory counts, and maintenance scheduling
  • Administrative time: Document hours spent on paperwork, reporting, and communication
  • Calculate: (Total weekly hours saved × Average hourly wage × 52 weeks)
• Loss Prevention Breakdown:
  • Equipment theft/misplacement: Track historical loss incidents and their associated costs
  • Depreciation impact: Consider accelerated depreciation from poor tracking
  • Calculate: (Previous year's loss value × Expected reduction rate of 45%)
• Maintenance Cost Analysis:
  • Preventive maintenance: Track scheduled service costs
  • Emergency repairs: Document unexpected repair expenses
  • Equipment lifespan: Monitor extension of asset longevity
  • Calculate: (Annual maintenance spending × Expected reduction rate of 40%)

Real-World Example: Managing 200 assets valued at $5,000:

• Time Savings:
  • Equipment check-in/out: 5 hours/week
  • Inventory management: 3 hours/week
  • Maintenance scheduling: 2 hours/week
  • Total: 10 hours × $30/hr × 52 weeks = $15,600 annually
• Loss Prevention:
  • Historical annual losses: $30,000 (6 items lost or misplaced)
  • 45% reduction through tracking = $13,500 saved
  • Additional savings from reduced replacement costs
• Maintenance Optimization:
  • Previous annual maintenance: $30,000
  • 40% reduction through preventive scheduling = $12,000 saved
  • Extended equipment lifespan benefit: ~15% increase

Total Annual Savings: $41,100 Plus additional value from improved efficiency from automating manual tasks, reduced project delays, and strategic equipment planning based on usage patterns.

Proving Financial Impact & Risk Management

• Calculate Direct Cost Savings: Compare the annual cost of Cheqroom against documented equipment losses. One of our customers saved $30,000 in the first year by reducing lost and stolen equipment.
• Measure Downtime Prevention: Track how much revenue your organization loses from equipment-related delays. Example: If project delays cost $300/hour, preventing just 2 hours of downtime per week saves $31,200 annually.
• Quantify Compliance Value: Calculate potential fines and penalties avoided through automated inspections and documentation. Many industries face fines of $10,000+ per compliance violation - making Cheqroom's automation an essential safeguard.

Adjusting for Hidden Costs like Ghost Assets

What impact do ghost assets have on ROI? According to Gartner, over two-thirds of organizations show a 10–30% gap between planned and actual inventory. Think about this: If you have 100 assets and 15% become unusable due to theft, damage, or misplacement, you're not only losing significant value—you're facing increased tax liability and operational risks.

Ghost assets lead to critical business issues, including:

• Project delays from discovering that equipment is missing or unusable
• Higher tax liability due to inaccurate asset records

The good news? By properly managing and retiring unused assets through Cheqroom, companies can reduce their tax bills up to 20-30%.

Here's how to calculate a more accurate ROI that accounts for ghost assets:

• Ghost Asset Adjusted ROI Formula: Adjust for loss by subtracting ghost asset costs from the total.
• (Net Profit ÷ (Investment Cost – Ghost Asset Value)) × 100

To illustrate this, let's use our earlier example: 15 ghost assets at $1,000 each represent $15,000 in unrealized potential. By addressing this inefficiency, your ROI story becomes much stronger, demonstrating how Cheqroom eliminates these hidden costs that eat away at profits.

Justify Your Investment with Real ROI Numbers

Now that you’ve tracked and maximized Cheqroom’s ROI, how do you convince leadership? Focus on these steps to craft a compelling case:

• Highlight Business Impacts: Show measurable benefits, like reduced costs, increased performance efficiency, and minimized risks.
• Use Visuals for Clarity: Before-and-after stats presented as graphs or charts ensure maximum impact.

Example Table:

Keep Improving for Sustained ROI

Achieving ROI is just the beginning. Keep your Cheqroom setup fresh and impactful with these habits:

• Audit Regularly: Catch inefficiencies early using Cheqroom’s real-time reporting tools.
• Scale Strategically: Identify areas where expanded use of Cheqroom would create the most value.
• Foster Collaboration: Share insights across departments to amplify success and enterprise alignment.

Cheqroom isn't just about managing assets—it's about investing in your organization's future.