Budgeting with Backpack
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      Budgeting with Backpack

      How to Utilize Backpack Data to Enhance the Budget Process

      Your Backpack contains a wealth of data. Here are a few ways to use that information to support your budgeting efforts::

      Equipment Data

      here are two primary ways to leverage equipment data during the budget process. Before getting started, review these helpful articles on the Equipment page and data collection:

      Navigating the Equipment Page

      Equipment Management in Backpack

        • Useable Life

          • Review the usable life for each piece of equipment

          • Cross check equipment against annual budget and 5-10 year plans to ensure comprehensive planning

          • Move equipment to the "watch list" for future planning to reduce unexpected replacements
          • Validate budget requests by including the equipment details & photos in your budget plan

        • Replacement Value*

          • Use the replacement value as a placeholder instead of waiting for bid results
          • Validate budget numbers and RFP results by comparing them to the replacement value
          • Quickly plug in numbers for draft budgeting — Backpacks information provides a reliable starting point

      *The replacement value in Backpack is sourced from a national database used by industry professionals (e.g., construction companies, estimators, construction managers.) It is averaged across U.S. data. Be sure to evaluate this figure based on your region, market trends, and supply chain conditions and make adjustments as needed.

      Rebates

      The Backpack Rewards program offers rebates — as cash back or credits — directly to your building. To maximize savings:

      • Reserve rebates now to offset project costs with current reward vendors
      • Claim rewards for current-year projects — no need to wait until the next budget cycle
      • Budget for savings to help cover the cost of your subscription

      Utility Data

      Export utility data in two formats - meter data (normalized by month) or bill data (exact bill data) & use it to:

      • Analyze cost and usage over multiple years
      • Customize timeframes - select the timeframe that aligns with your budget cycle
      • Evaluate peaks and valleys in usage to ensure accurate budget forecasting
      • Anticipate rate changes and budget accordingly by:
        • Add a percentage increase by month OR
        • Multiplying usage by determined rates for projections into the new year
      Need help? Your subscription includes access to Backpack’s professional support team — we’re here to assist!

      Questions?

      Contact our support team at support@backpacknetworks.com