Turning Your Excess Into Success
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Select Recovery Services is a company dedicated to recouping assets that are no longer needed by a company, through the process of marketing, redeployment or disposing through various avenues. We offer a strong background in the asset management and investment recovery fields.
Asset recovery programs also locate usable surplus from outside sources. As experts in asset management, investment recovery programs save their companies substantial amounts of money each year. Asset recovery professionals use a variety of specialized methods and strategies to recover the value of an asset. "At least 5% of the assets of most large companies reside in surplus equipment," says Dick Watts, manager of asset management at Chevron Corp.,
According to member data collected by the IRA, investment recovery departments save their companies an average of $8 million a year; individual companies have saved as much as $150 million a year from the asset management services of asset recovery programs.
According to IRA member data, 70 percent to 90 percent of every sales dollar generated by asset recovery goes straight to the bottom line as profit.
For every dollar generated by an asset recovery department activity, $20 in sales would be required to generate the same net effect to the company's profit.
Corporations in virtually every industry have investment recovery departments, including utilities, chemicals, food processing, forest products, petroleum and gas, metals, government, educational institutions, electronics, pharmaceuticals, transportation and consumer products.
Depending on the industry, asset categories can include equipment and machinery, manufacturing, repair and operations supplies, obsolete and/or discontinued materials, by-products and waste, buildings and land.
Investment recovery professionals use a variety of specialized methods and strategies to recover the value of an asset, including redeploying it to another location in the company, returning it to the manufacturer or distributor, selling it, trading it for another asset, giving it away, and paying to safely dispose of it.
The value of the investment recovered in an asset is measured in a variety of results such as increased utilization of assets through deployment of unused equipment and other materials; improved return on investments; reduced or eliminated disposal and maintenance costs; added source of revenue from sales; and minimized tax liabilities.
In this current economic climate it is imperative that companies look for innovative ways to operate. By utilizing Select Recovery Services, companies can cut costs, find new revenue streams and organize their assets in a way that helps them compete in an ever changing global market. Their motto of turning "excess into success" is an evolution in business practices that works.
