An asset recovery rate is the percentage of assets recovered out of assets eligible for recovery.
Typically, the asset recovery rate is calculated for a specific project or over a specified period of time, such as one year.
Using traditional asset recovery methods, a company can expect asset recovery rates of around 30 percent.
On average, Mobile reCell’s customers achieve an asset recovery rate of around 95 percent—approximately three times the industry average.
How to Calculate an IT Asset Recovery Rate
An asset recovery rate is calculated by dividing the number of assets recovered by a program by the total number of assets eligible for recovery within the program.
For instance, if 950 assets were recovered for a company with 1,000 assets eligible for recovery, the asset recovery rate would be calculated by dividing 950 by 1,000, which equals 0.95. To get the percentage, multiply 0.95 by 100, which is 95 percent.
Calculating your asset recovery rate can help your organization identify pain points and adjust your asset recovery strategy as needed.
How to Increase Your IT Asset Recovery Rate
Mobile reCell is delighted our customers typically experience an asset recovery rate nearly three times the industry’s average.
How do we do it, you ask?
Three primary components drive our high IT asset recovery rates:
- Recovery workflow and program design
- Enabling program visibility
- Automation of manual recovery processes
Recovery Workflow and Program Design
From our very first call with a customer, we set each asset recovery program up for success. We actively contribute to the design of the program and share our expert knowledge and best practices for program success.
Enabling Program Visibility
Our software increases visibility into the end-of-lifecycle process for our customers, and once in place, they can see what happens to an asset once it’s been commissioned.
Our customers can track which end users are compliant during asset recovery and quickly identify who has not been compliant, then they can take action on those reports within the software platform.
Automation of Manual Recovery Processes
Automation of manual asset recovery processes also enables high recovery rates. From the start of the recovery process, it is essential to find efficiencies and a reliable data source for determining when an asset is rendered unused and eligible for recovery.
Implementing these three things will give you the best possible recovery rate for your asset recovery program.
How Working with Mobile reCell Can Increase Your Asset Recovery Rate
We work to increase our customer’s asset recovery rates by ensuring our platform and processes are user-friendly, sending end users reminders when their IT assets are eligible for recovery, and providing customers with the tools to reduce their workload in logistics, processing, and recovering IT assets.
With the only software-driven IT asset recovery solution, Mobile reCell helps organizations maximize efficiency and time while ensuring data security, recovering maximum value, and delivering a sustainable solution.
Interested in transforming your asset recovery program? Contact us today.