Asset recovery in the context that I am presenting is around IT infrastructure equipment. Asset recovery has three main parts, asset management, asset reuse / redeployment and asset deprecation / disposal.
The first step in asset recovery is asset management, or simply having documentation for all equipment owned and deployed by a company. This is helpful for several reasons including keeping your accounting records up to date, allowing assets to be depreciated properly according to the latest tax laws. Secondly it helps account for company owned equipment and the employee that the asset is assigned to, what risks are associated with the assets loss and the residual monetary value of the asset. Keeping track of the asset and the assets value in a manner or classification to determine the assets life cycle.
Asset redeployment is the second part of asset recovery. This happens when the primary use of the asset is no longer viable but there is some other valuable use for the asset. In our business we often find that C Level executives require the lightest and fastest performing laptops available. It is not unusual for them to swap out their machines for the latest model. A year-old laptop that retailed for $3000 still has a lot of life left in it and especially if it is in good shape and under the manufacturer’s warranty. Often this asset can be redeployed to another associate that does not require the same performance levels that executives require but still requires an upgrade that allows them to work more efficiently. It is very easy for IT professionals to sanitize the asset (securely remove confidential data), add on the operating system and programs needed required, migrate the end user’s data over and redeploy the asset with little or no end user down time. Ensure you update your documentation!
The final part of Asset recovery is disposal. When an asset has been fully depreciated and no longer serves a viable purpose what do you do with that asset? In our industry when an asset has no real monetary value and is not able to efficiently serve the clients need that is when we dispose of the unit. Our process is based on our standard for security and efficiency. First step is to wipe all hard drives with DoD approved software. The drives are then removed and delivered to a secure facility that grinds the hard drives into small pieces and recycles the parts that they can to reduce the amount of material that makes its way into our landfills. The company issues documents of destruction with the serial number of the hard drive for compliance documentation and the asset is removed from the documentation and the company’s books.
All three phases of Asset recovery are all important parts of the asset life-cycle. Asset management is knowing what assets the company owns, where the assets are deployed / what employee is using it and the asset is it still meeting or exceeding the performance expectations while not presenting any security issues like an outdated operating system. Asset redeployment or reuse is simply re-purposing the asset where there is a greater value than that of disposing the asset. Finally, disposal of assets. Securely removing the asset from the company’s books and inventory.
We focus primarily or security - ensuring there is no potential for data leakage and then try to dispose of the asset in an Eco-Friendly way by either donating it to Goodwill or sending it to an Electronic recycling company to break down all the components and reuse as much as possible.
Network Essentials specializes in secure, "Eco-Friendly" asset disposal with partners in Charlotte, NC and all over the country.
Kyle Elworthy 3/25/19