How Can Asset Recovery Management Help Your Business During Periods of Financial Difficulty?
Many businesses are understandably facing a period of financial difficulty, and with the impact of COVID-19 on top of economic stress, many businesses are looking for new ways to stay afloat until the pandemic subsides.
This blog post will help you learn how asset recovery management could help your business liquidate assets to relieve some financial stress. With good asset recovery management, you can find new ways to make the most of assets you have and get rid of those you no longer need.
What is Asset Recovery?
Asset recovery can be a great way to maximize the value of assets no longer used or needed by your company. IT, technology, electronics and other equipment will always change and develop, and to remain at the cutting edge of our industries and keep up with competitors, the turnover of assets is necessary. What once was a great investment may no longer be of benefit to you in its current state, but with good asset recovery management you can maximize the value of these items.
Asset recovery is often seen as a service necessary only for companies in the process of liquidation, but in fact, asset recovery can liquidate unused items for the benefit of any healthy company, of any size. Asset recovery can help any company find value in unused items.
Asset Recovery Management
There are three main parts to the asset recovery process.
- Idle Asset Identification: This is the process of identifying assets that are idle; those that are not being used to the benefit of the company and could otherwise maximize their value.
- Redeployment: Can the unused or under-used assets be better used elsewhere? Redeploy those assets that can.
- Divestment: Divestment is the process of selling remaining assets to liquidate and maximize value.
Why Choose Asset Recovery Management?
Here are a few ways in which asset recovery management can be beneficial to your business:
- Asset recovery can help you recover capital.
- By getting rid of unused items, asset recovery can help you free up space.
- Asset recovery can enable you to sell off excess inventory.
- Asset recovery can help you sell equipment that is out of date or unused.
- Asset recovery is a great way to recycle or reuse items, for example items that have been refurbished. Items that no longer hold value for your company might be of value to another entity elsewhere.
- The asset recovery process can also involve reclaiming assets that have been stolen or unrightfully taken.
Electronic Asset Recovery
Types of assets that are often applicable for asset recovery include:
- Excess stock
- Assets that are no longer used
- Technology that is out of date
- End of life assets
- Equipment that has been returned after a loan, that won’t be needed again
Electronic asset recovery is one of the most common types of asset recovery as electronics, IT and other equipment so quickly become redundant. If you have a large number of electronics stored or unused, electronic asset recovery may be right for your business.
Choose Asset Recovery Management with Beltmann Integrated Logistics
Beltmann Integrated Logistics has vast experience in asset recovery management, electronic asset recovery, reverse logistics and more. Contact Beltmann Integrated Logistics to maximize the value of your assets and recover capital.