IT Asset Recovery Services

Every company’s operations are fast-paced and have several moving parts.  Multiply offer the asset recovery and retrieval solutions you need to optimize the process of getting devices back from employees whether they are in an office or working from home. Save your team time and make your CFO happy by working with us get back your assets today. 

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The Benefits are Endless

RECOUP INVESTMENT ON EQUIPMENT

Whether it is through disposition or using the asset for another employee, getting it back is the first step.

DEFINE YOUR RETURN
CYCLE

The best way to ensure you get your devices back to have a process in place. We can help you do that effectively. 

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Getting assets back from former employees is difficult. Let your IT team focus on the bigger picture, we’ll handle these tasks.

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IT Asset Recovery Services

Every company’s operations are fast-paced and have several moving parts. That includes employees who leave the company and need to return the equipment they were using or trying to implement the right processes to ensure equipment is retired and upgraded efficiently. That’s where IT asset recovery services come into play. 

Asset recovery is the IT asset management and retrieval solution you need to optimize these processes. That’s especially true for large organizations with many locations or the growing amount of businesses that have remote workers where these processes are tougher to manage. 

If you’re searching for “asset recovery services near me” or simply wondering how you can streamline your company’s processes, we’ll have all the information detailed in this article. Stick around until the end to learn everything you should know about asset recovery.

Defining IT Assets
IT Asset Examples
Employee Laptop Returns
Four Components of IT Assets
IT Asset Inventory Checklist
IT Asset Management Policy

How Does Asset Recovery Work?

You’re looking for asset recovery solutions, but you may still be unsure exactly how this process works. Let’s break it down in more detail to give you a better understanding. 
 
Asset recovery is a step-by-step process that will help streamline how you retrieve and manage the assets your employees are using. When we say IT assets, that’ll be equipment like laptops, webcams, portable storage drives, etc., that companies typically provide their employees for use, whether in the office or at home in remote positions. 
 
Now, let’s say that you have an employee quit. You’ll want to get that equipment back to ensure you don’t lose out on the value that it could still provide. That’s where your asset recovery system or even a service that can help with this process will provide you with the right steps to manage that part effectively. 
 
The same is true when you decide that employee laptops aren’t functioning as well as they should be and want to upgrade them. You would want to get the old equipment back to clear the data from hard drives for security purposes, properly recycle it, get new equipment sent out promptly, and mark all of these actions down in inventory records. 
 
All of these steps are included in the asset recovery process. Let’s review what that looks like. 
 

What Is the Process of Asset Recovery?

The asset recovery process can typically be broken down into five key steps. 
 
1. Assessment and Deployment: Before you perform any recovery actions, your current situation should be assessed. Our recovery team at Multiply has technicians and IT consultants who can help with this each step of the way.
Assessment will consist of aspects like:
– Creating an inventory and documentation of all equipment that’s currently in use. 
– Identifying employee locations and what equipment is in their possession. 
– Tracking current value and age of all assets. 
– Identifying current cybersecurity and data management needs. 
– Creating a system that works best for your company’s specific processes. 
 
Once all these elements are identified and a plan is created, it can be deployed into current operations. 
 
2. Establishing Asset Assignments and Tracking Systems: When you provide employees with equipment, you’ll want to have a way to track what everyone has in their possession. Otherwise, you’ll be more confused when it’s time to get equipment back and won’t even know what to expect from employees. 
 
Typically, most companies keep track of asset assignments in their inventory system. This information can be established with barcodes assigned to each asset or other automated systems that collect the necessary data. 
 
3. Reporting and Data Security Processes: Asset lifecycles are important to consider in the recovery process. Therefore, generating reports about asset performance will help identify when assets need to be disposed of and upgraded to ensure top company performance. 
 
Within that, you’ll want to ensure data security measures are taken each step of the way. That includes clearing all data from hard drives and ensuring employees keep their equipment up to date to prevent any data leaks. 
 
4. Asset Removal Systems: When assets are removed from use or returned to the company, these systems must be optimized to ensure you get all the equipment you own back from employees. At Multiply, we provide automated offboarding systems to simplify this process. 
 
5. Deciding Whether to Repurpose, Recycle, or Resell: Lastly, once equipment is returned, it should be examined to determine if it can be repurposed or redeployed to get more value from it. For instance, if an employee leaves the company, a lot of that equipment will still be reusable in other parts of the organization or can be provided to whoever fills that role next. 
 
Other recovered equipment may need to be recycled or resold if the company no longer has a use for it. Companies like Multiply can help secure deals while reselling to get the most value from equipment or recycle it using environmentally friendly processes while ensuring all data is securely erased from hard drives. 
 

What Is the IT Asset Recovery Process?

If you’re still wondering how this process works for IT equipment, let’s review some examples. 

Example #1
Josh is a remote sales rep who uses a company laptop, computer monitor, keyboard, mouse, and webcam that the company provided for him. 

Josh is just wrapping up his two-week notice since he is leaving the company, and he receives an automated message detailing the specific equipment he needs to return and how he will be able to pack and ship it back to the company. 

Once Josh follows through on that and the company receives it, the equipment can be marked as received in inventory systems. It is then assessed to determine if the company can still get additional value from it. 

They determined that the laptop and webcam could be put in backstock for future use, and the computer monitor, keyboard, and mouse could be provided to a new employee who is just starting in another department. This helps them retain additional value from all these items.

 

Example #2
The accounting department currently uses desktop computers in the office. However, the company is transitioning to a hybrid work environment and knows its accounting staff will need a more portable setup. They decide to upgrade to new laptops to make that a possibility. 

Once the new laptops are purchased, they are each assigned a barcode number and a specific employee name who will be using it. 

The old desktop computers that the accounting team was using still hold value. Therefore, the company works with the asset recovery specialists at Multiply to clear all the data from all these computers and secure resales that get the most value back from them. 

 

How Long Does Asset Recovery Take?

The length of the asset recovery process is tough to estimate since various factors are in play. 

The initial recovery from employees to return equipment will usually take 48 hours to 1 week, depending on whether they need to ship the equipment back to the company and how quickly their response time is. It’ll typically be quick and easy when using automated systems that our team at Multiply can help with. 

Other aspects like assessing the equipment, recycling, reselling, or repurposing can take somewhere in the range of a couple of weeks to a month. However, a variety of factors and company processes can make this take longer or shorter. 

 

How Do Asset Recovery Companies Work?

As mentioned, asset recovery companies can be your partner in this process. Companies like our team at Multiply can act as an outside resource to help with all your recovery needs. That’ll include aspects like:

  • Helping maximize the use of your assets
  • Automating employee offboarding
  • Recovering equipment from remote employees
  • Implementing proper data security measures

All these aspects work together to help you get the most value out of the equipment you own. 

How Much Do IT Asset Recovery Services Cost?

The cost of asset recovery services varies depending on the recovery company you work with and your specific needs. Many of these services are somewhere in the range of $2,500 to $10,000 as an upfront fee. 

While asset recovery services can seem like a steep cost, think about how much money you invest in IT assets. For instance, if you have 40 remote employees who all possess $1,000 worth of equipment, that’s $40,000 you have invested. You’d want to ensure you maximize the value of all that equipment each step of the way. 

 

What Is an Asset Recovery Service?

Asset recovery services are teams of IT consultants and technicians like our team at Multiply. We act as a partner in the process to take extra work off your plate since these tasks can cause a lot of frustration when you aren’t familiar with them or simply don’t have time to manage everything. 

We can fully assess your company’s needs and determine the right options for you. That way, you’ll feel confident knowing you have a custom-made solution designed for all your needs each step of the way. 

 

What Are the Options for Asset Recovery?

Many types of asset recovery and other solutions can be included with this service. The main two are retrieving assets when employees leave the company and when equipment enters disposition. Other services you’ll find within recovery include:

  • Data wiping
  • Reselling, recycling, or repurposing old assets
  • Audits and compliance reports
  • Inventory creation and management
  • Asset storage solutions
  • Implementing automation systems

    All these elements and more can play a factor in a successful recovery. For more resources, Multiply can help with all your needs. 

How Multiply Can Help!

Multiply is a team of IT consultants and senior service technicians. We can help with IT asset management and recovery solutions to ensure you receive the most value from the expensive equipment you invest in. 

With Multiply on your side, you get a partner in the process who will assist you each step of the way. All our services take the hassle and frustration out of these processes so you can focus on other important aspects your company has to manage. 

Contact us today to learn more about how Multiply can help!