Discover essential strategies to protect your organization from embezzlement through effective IT asset management. ITAMG COO Frank Milia shares expert insights on securing your valuable IT assets from cradle to grave. Learn how to implement robust tracking systems, establish multi-agent approval processes, and verify disposal procedures to prevent unauthorized asset sales and embezzlement.
In this video, Frank addresses the critical question: “How does an organization protect itself from embezzlement?” He emphasizes the importance of comprehensive asset management strategies, including:
Implementing cradle-to-grave asset tracking systems
Using tags and tracking methods for assets throughout their lifecycle
Establishing multi-agent approval processes for asset disposal
Ensuring leadership oversight and sign-off on asset disposal lists
Creating systems of checks and balances, especially for satellite offices
Verifying disposal vendor receipts against internal records
Investigating discrepancies in asset counts during the disposal process
Frank highlights the significance of having all agents understand that their work is being checked and verified. He stresses the importance of comparing disposal vendor paperwork with internal records to identify any missing assets and determine the cause of discrepancies.
Learn how to protect your valuable IT assets from unauthorized sales and embezzlement by implementing these best practices in your asset management strategy.
Don’t miss out on these crucial insights that could save your organization from potential financial losses and security breaches. Watch now and take the first step towards fortifying your asset management processes.
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Transcript
Frank Milia
How does an organization protect itself from embezzlement is the important question. You have assets that are offline, and you’re concerned about the authorization process and how can you protect assets from being sold to unauthorized agents and ultimately that money being embezzled. Certainly doing good asset management from Cradle to the Grave is the start, and using tags and systems for tracking those assets from off the desk and out of the user’s use and to the disposal process, but then also having multiple agents that are responsible for approval of any assets leaving the organization. If you have satellite offices all around, you have IT managers that are responsible for collecting assets, processing them, getting them ready for disposal, there has to be some systems of checks and balances where there’s leadership involved that are ultimately signing off of that list. Then, probably most importantly, is all those agents understand my work is being checked. I said that I was getting rid of these 100 laptops. The disposal vendor says they got the 100 laptops. Is someone checking to make sure that the disposal vendor didn’t get 75 and those 25 went missing? Why did they go missing?