Asset recovery systems are systems in place designed to identify, recycle or reuse idle electronics software or hardware. As a business grows, the need for this becomes greater as new technology offers the option to assimilate older equipment or replace it with all new equipment.
The process of identifying the company’s needs, their process of asset recovery falls into one or all of these categories:
Idle Asset Identification:
Assets that aren’t being put to productive use end up costing money. These assets are then reclassified as idle by the company’s investment recovery personnel. If there’s any further viability of the assets they ca be either redeployed at another site or for another purpose, or they will be divested, or gotten rid of through recycling, waste disposal or repurposing for parts.
Internal Asset Redeployment:?
When an asset has value but has been left idle, the asset is said to be redeployed, or reused or reallocated to another part of an organization where it can be of productive use. This process saves the organization money by eliminating the need to purchase a new asset at current market rates. For effective reuse, another part of the company needs to require that very asset, meeting a practical need for the asset, and thus justifying the transfer and redeployment. Redeployment can also take the form of cannibalization of usable spare parts from one asset to another.
Surplus Asset Disposition:?
Surplus disposition or idle assets disposition is the process of either selling, scrapping, recycling, donating, or disposing of an asset. The process involves removing the asset from an organization's books, assigning it a capital value (monetary) and then placing that capital resource back into the business. A good asset sale produces revenue and boosts profits. Donations also build goodwill and deliver tax benefits.
Investment Recovery Specialists:?
Companies in the asset recovery business are sometimes referred to as liquidators or as asset recovery specialists. Asset recovery organizations often purchase the idle equipment at a discounted price and either resell it for a profit or sell it on behalf of the asset owner for either a commission or a fee.
User management of assets provides the network administrator the ability to identify and control the level of access to the systems network that the asset may have been assigned. In the process of asset recovery, that user access must be managed, reduced or removed prior to asset disposition, redeployment or divestment. Also, the administrative accesses need to be revoked to prevent further infiltration into the networks client and personnel files.
Orders for the asset may have been long term or recurring. These orders can be received from businesses, consumers, or a mix of both, depending on the products. Offers and pricing may be done via catalogs, websites, or advertisements, as well. If the asset is no longer in use or is being redeployed or divested, its change order within the organization must be reflected across every medium it touched.
Order management may encompass:
• Product information (descriptions, attributes, locations, quantities)
• Vendors, purchasing, and receiving
• Order entry and customer service (including returns and refunds)
• Financial processing (credit cards, billing, payment on account)
• Order processing (selection, printing, picking, packing, shipping)