Understanding Corporate Asset Tracing

asset tracing

Maintaining corporate assets is a cornerstone of any business. Information technology assets, in particular, need to be tracked and traced at all times. If something goes missing, it can cost the company a lot of money and resources in terms of time and effort to get it back.


It’s essential that asset tracing is appropriately done. This article will cover some common mistakes made during asset tracking and the steps to avoid them when using the same process in your organization.


One of the main reasons why an organization’s assets go missing is because there is no information about them in the first place. This makes them difficult to trace, which leads to a loss of capital and productivity. These devices must be inventoried before they enter the company, or they will be worth less than they should be. The initial investment can cause short-term losses, but it will pay off in the long run by proving how much value you get out of your assets. Without proper asset tracking, you could look at an information security breach that costs millions in liability payments and lost assets.


The second most common mistake with asset tracking is that the personnel working with them need more training. Employees need to be knowledgeable about corporate asset policies and how they can better manage company assets. This includes taking equipment inventory, mending and repairing gadgets, and properly disposing of old or broken technology once the business no longer needs it.

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It’s also vital for employees to inform management when any electronic device goes missing. If your business has an asset-tracking software program, there should be an easy way to submit a report when something goes missing or is stolen. However, if it doesn’t happen, you need your employees to be proactive and report it immediately.


In addition to training employees on asset tracking, it’s also essential to have procedures in place. For example, some companies will have a policy on how and when assets should be disposed of. They may even have a specific area designated for this type of equipment where they must take their broken hardware before they throw it away. If a piece of hardware is non-operational or is damaged beyond repair, you’ll want to dispose of it according to your policies and procedures. Otherwise, these electronics could get into the hands of people who could sell them for illegal purposes or use them as spy devices for corporate espionage.


It’s also essential for employees to know about the security policies at their company as well. If a piece of hardware is lost or stolen, your company could be liable for any damage caused by the missing item. Policies must be established on handling lost or stolen electronics, and you must have proper forms for employees to fill out when something goes missing.


In addition to procedures that are put into place, it’s also essential for your organization to develop a system of accountability. If an employee loses an electronic device, they should provide an inventory log with the serial numbers to report it as a loss.