Asset analysis and disposal is an important routine that is being done in so many large companies. It can be time-consuming and may require the assistance of several IT personnel in the company. For a couple of reasons, most companies always do asset disposals for some of these reasons:
Why a company may do an asset disposal
· When the company assets are advanced due to changes in technology
· When equipment constantly become faulty or broken
· Returns and sale of assets
There are some asset valuation and disposal company that can help out with the entire disposal process that will save the team from the time and stress that could be invested in other company duties. There are a couple of procedures that the company always follows to determine the assets that need to be laid off.
Steps to follow for asset disposals
An asset valuation and disposal company will take its time to assemble record, share, evaluate and remarket the assets of the company while looking at possible solutions based on the results from the evaluation process.
Assembling company data and records
At this phase, the company’s data of assets is recorded and the data is entered into the asset database of the company until each part can be properly accounted for.
Division of assets
When all the data of the assets are recorded and entered, the assets are divided based on the data each section carries and when everything has been settled safely, the worth of the assets is then assessed.
Evaluation of the market value/worth
This is one of the most important phases and this is when the market potential or the worth of the product is being determined. After this evaluation phase, it is decided if the asset will be retained or if it would be sold and at what price.
Assets for revamping
When the market worth has been deciphered, the next step will be to test to see if the asset is still fully functional or if it just needs some slight repairs. If it shows negative, the scrap processing then kicks off almost immediately. And if it tends out it needs to be disposed of, then an auction sale can be organized or thee property will just be donated to charity.
Assets for dumping
For any asset that is not useful enough for remarketing and resale, the asset markings are usually gotten rid of. Next, all data storage that has any archived data about the asset; this could be in HDDs, drives, tapes and other data-bearing devices are taken out and stored in secure cages.
The storage devices are now physically gotten rid of via a safe HDD shredding procedure. The leftover parts are coated back to their various parts; for example parts like copper, plastics, ferrous and nonferrous metals - and are then reprocessed. Making a gain or a loss solely depends on the state of the asset and the market worth at the moment.