Often times, the term IT asset recovery tends to be misunderstood by many, even those deep into the IT hierarchy. The misconception revolves around the length of time equipment has been in use before it can be disposed off at a tidy sum. In truth though, old electronics will rarely fetch as much as we would like them to.
This is particularly so today, where technology is changing faster than we can adopt it. In other words, equipment gets obsolete very fast particularly when you juxtapose with years just gone by. And so does the residual value drop by a great margin (not to mention operational advantages).
That said, IT asset recovery means getting money back for used IT assets before they become outdated: computers and computer parts, networking equipment like switches, routers, gateways, firewalls, and servers, phones, credit card machines you name it.
That’s right, equipment that is still useful. So, why do it in the first place if they’re still useful? For one, they may be taking up space or could be dubbed excess inventory. And as much as they may not be useful to your workflow, they could be to someone else’s. The key is to identify what is no longer necessary to your business processes early on because they will have a strong resell value then.
Nobody wants to buy equipment that went obsolete three or five years ago. There are those who purchase yes, but that market is pretty small.
This is where outsourcing an asset recovery provider comes in handy, although you don’t need to go in blindly. Businesses are preoccupied with other functions – production, employee management, customer service and so on – that it can get tedious to oversee technology asset management on a regular basis, let alone daily.
So, what options do you have when it comes to asset disposition?
When it comes to asset liquidation, many companies are faced with a quandary of what to do with their outdated assets. And rightly so: the importance of doing it properly cannot be underestimated.
There are several aftermarket recovery solutions available that can maximize value for your IT equipment. They include:
Many businesses neither have the time, desire nor skill to dispose of their own assets. If you fall in this category, then seeking the service of a liquidation company may be a good idea.
They will value the assets and put them up for auction for the biggest bidder among their established buyers (or new ones) ensuring you get rid of your unwanted equipment fast, easy and at the best possible value.
Direct sales are another good asset recovery solution provided you can determine an appropriate time to do it. This is because the more the equipment is kept in ‘storage’ the more it continues to lose value.
There are multiple options to direct sales which include selling on the likes of eBay, Craiglist classifieds, to certified-OEM refurbishers or other entities that may find them useful: schools, churches, community organizations you name it.
It may not be the easiest solution out there, but you can strike it lucky cold calling relative companies to determine if they are interested in what you have to offer.
Among one of its many downsides is that cold calling may never get you the best price out there, unless of course, the potential buyers are willing to meet your ask price. However, it may be your easiest route yet if you manage to rack up good connections over time.
Trade-in and Remarketing Programs
This option allows you to use the value of your existing equipment to bring down the cost of new ones. There are many companies out there that offer this kind of partnership, and you should also find out if the OEM does the same.
It will also come in handy when your equipment has gone obsolete and you can you can’t establish a good market for it.
All organizations – big or small – stand to gain a lot from IT asset recovery. It may be an overlooked aspect of your IT strategy, but the gains are immense, positively contributing to your bottomline.
We hope this post will help you re-evaluate this aspect as a priority.