Many companies have corporate-owned assets deployed to employees in the field, working remotely, and dispersed across the country.
When an asset becomes eligible for an upgrade or an employee leaves the company, how do companies retrieve their assets from the employee?
The strategic process of reclaiming those corporate-owned assets is known as asset recovery.
We will discuss how asset recovery is defined, what makes asset recovery important, and what a company can do with its assets once they’re recovered.
Defining Asset Recovery
Asset recovery is the strategic process of reclaiming corporate-owned IT assets to maximize the value of those assets through employee purchase programs, reselling, or responsible recycling.
IT assets include smartphones, tablets, laptops, or any other asset with a serial number or asset tag unique to an individual asset.
Companies requiring an asset recovery program include:
- Companies issuing corporate-owned assets to their end users or employees.
- Companies with a disparate workforce, whether it is across America or around the globe.
- Companies in any industry, but highly regulated industries are a perfect fit for a strategic asset recovery program.
Why Asset Recovery is Important
A strategic, software-driven IT asset recovery program ensures data security for your valuable corporate data, automates historically manual processes, maximizes the residual value of retiring or idle assets, and keeps your assets out of landfills.
Ensure data security for valuable corporate data
Wireless assets—like lost laptops, smartphones, and tablets—originate more than 40% of data breaches.
Every unrecovered asset poses a data security risk for your organization. These vulnerable assets have access to company emails, files, and other sensitive materials, compromising valuable corporate data.
Every asset Mobile reCell recovers complete NIST-compliant data erasure and receives a Certificate of Data Destruction, allowing your company to rest assured that your data is secure.
Automate historically manual processes
Manually tracking an asset recovery program in spreadsheets is both time-consuming and labor-intensive.
Automating historically manual processes allows your team to make informed business decisions based on data provided by the automation.
For instance, instead of trying to track down end users to find out if they have returned their corporate-owned smartphone, you can run a report to identify end users who still need to return their assets. Then, you can automatically send an email to those end users reminding them to return their devices.
Maximize the residual value of retiring or idle assets
Without a corporate-owned IT asset recovery program in place, retired assets might end up in a drawer or IT closet collecting dust.
Stored away idle assets are typically still functional. These assets can be converted into usable capital for your organization, which allows you to advance mobility programs and adopt new tech trends with a smaller cash outlay.
Keep your assets out of landfills
If your company does not reclaim deployed IT assets and properly dispose of them, it is impossible to ensure your assets do not end up in landfills. With an asset recovery program in place, you can minimize the toxic e-waste attributed to your company by recovering assets.
Partnering with an asset recovery vendor who follows the strictest environmental standards can help keep your company in compliance with state, federal, and environmental regulations around the disposal of e-waste.
Advance your company’s sustainability initiatives by reselling or responsibly recycling retired assets.
Strategies for Recovered Asset Disposition
When an IT asset is recovered, there are several strategies for recovering the highest residual value from the asset—reselling, employee purchase programs, and responsible recycling.
Resell the asset in the secondary marketplace
Production disruption, supply chain issues, and component shortages—due to COVID-19 and the depletion of natural resources due to overconsumption—have some companies looking to the secondary market to purchase mobile devices.
As 5G expands and proliferates the market, a great way to recoup the investment on new wireless assets is to sell the devices being replaced in the secondary market, where customers are more likely to accept 4G and older technology.
Allow employees to purchase the asset through an employee purchase program
Enterprises can also offer an employee purchase program to dispose of decommissioned IT assets in the field.
Employee purchase programs allow employees to purchase their retired assets at a discounted price. An employee purchase program also benefits your company because buyback programs will increase your overall asset recovery rate.
Recycle the asset responsibly when necessary
When assets are no longer usable and have no residual value, responsibly recycling the assets can be necessary.
Assets are dismantled to recover parts and base components, including precious metals, for reuse with an R2 Certified recycling partner.
Responsibly recycling assets that can no longer be repurposed prevents chemical leakage from harming the environment and its inhabitants.
Benefits of Working with Mobile reCell for IT Asset Recovery
Our unique software-driven solution is secure, sustainable, transparent, and allows your organization to resell, reuse, and recycle assets responsibly through automation.
Manually recovering assets is a time-consuming process and an overall pain point for organizations of all sizes. Automate your asset recovery process to maximize efficiency within your IT projects.
Learn how your IT asset recovery program can benefit from partnering with Mobile reCell.