Asset Recovery is a way of getting value from unused or end of life assets by redirecting or passing on these assets. Redirecting assets may be within the current organization or a new organization, such as a non-profit.
An Asset Recovery Strategy should be part of an organization's overall asset management process and will typically varies by:
Implementing an recovery strategy starts when planning the purchase of an asset, not when the asset is unused or end of life. By starting when the asset is purchased, the recovery process is incorporated into the cost of the asset and, in turn, contributes to the ROI of the asset.
Electronic Asset Recovery is the fastest growing and an increasingly complex segment of recovery management. The growth is simply the result of the rapid increase in electronic devises and the rapid change in technology.
The complexity of electronic asset recovery is associated with environmental issues, as well as by data security and political issues. For example,
Starting an Recovery Plan is similar to other types of project plans. Roles and responsibilities are identified, required resources are identified and assembled, budgets and schedules are prepared and the project is launched. One unique characteristic of an asset recovery plan is the amount of elapsed time that can pass between scheduled tasks.
For example, a corporation purchases and deploys a set of new computers, which would include tasks such as applying asset tags, tracking software installation and licensing and transferring data from old computers to the new computers. Once the new computers are deployed, it can be five years (i.e. the time for a computer to depreciate) before the next task in the asset recovery plan starts.
When a computer is at the end of life, the de-installation, data destruction and recycling begins. Many of these tasks are subject to multiple levels of regulations including, such as HIPAA, EPA, state and municipal government agencies. While it is possible for a corporation to recycling electronics without specialized assistance, failure to comply with the regulations can result in substantial fines.
"Best Practices" recommend working with a reputable, professional asset recovery services when handling end of life computer to ensure compliance with all regulations and to minimize potentially costly fines.
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