From the course: How to Protect Business Profits in a Financial Downturn
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Asset recovery and disposition
From the course: How to Protect Business Profits in a Financial Downturn
Asset recovery and disposition
- Maybe you've heard the phrase reduce, reuse, recycle. Well, for businesses, there's a similar concept and it's known as asset recovery. What it means is you're trying to recover as much value from an asset as possible, and the reason is you're simply not using that asset to its maximum potential. There's a three step process to doing asset recovery. First is asset identification, that's where you identify the assets that you're not using to their maximum potential. It could be heavy industrial equipment, it could be office equipment, software licenses. It might even be office space or a physical facility. Once you've identified those assets you're not using to their maximum ability and their maximum value, then you want to engage in number two, asset repurposing. You want to be looking at ways you can repurpose or redeploy some of the assets you have. For example, if you have a pickup truck at one facility that you don't…
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