Back in 2010, Intel Corporation and the Ponemon Institute conducted what has become dubbed the “Billion Dollar Lost Laptop Problem” study, which even six years ago validated the case for computer asset tracking software. The study found that more than 300 businesses and participating organizations lost more than 86,000 laptops worth $2.1 billion. Perhaps even scarier: It was estimated that while 50 percent of those laptops contained confidential information, 70 percent of them lacked even the most basic security measures. The average annual loss per company was 262 laptops worth $6.4 million. And, the study found, only 5 percent of the laptops ultimately were found.
Here are a few more fascinating (and alarming) statistics from the study:
Stolen vs. Missing:
- 25 percent of the laptops were known to be stolen
- 14 percent were classified as likely stolen
- 60 percent were simply labeled missing
Where were the laptops lost?
- 43 percent offsite (examples include hotel rooms, offsite conference rooms, etc.)
- 33 percent in transportation vehicles or venues (airports, taxis, subways)
- 12 percent at the respective owner’s workplace
- 12 percent unknown
The Education and Research sector experienced the highest rate of theft, followed by Health and Pharmaceuticals and the Public sector.
While this research is six years old, it’s still relevant today – perhaps even more so. And that’s because we’re not only carrying laptops around; we’re also carrying phones, tablets and other mobile devices. As this research indicates, the lost revenue is staggering in and of itself, but the security risk is perhaps even more serious. Many companies in 2016 are taking security far more seriously than they used to, using encryption, backup and anti-theft technology, but many don’t.
One of the best defenses a company can employ against theft and loss is computer asset tracking software. Powered by free mobile iOS and Android apps that sync with the cloud, Asset Panda provides real-time data, so clients can view the exact location and condition of their computer assets at any time. From your mobile device, you’re able to view information like check-in/check-out status, insurance policy, lease/purchase information, maintenance history, even GPS coordinates. When you’re able to monitor assets efficiently and accurately, you have the potential to save millions. In all too many cases, companies continue to pay for “ghost assets,” or assets that were long ago lost or stolen, simply due to errors or oversight in their fixed asset tracking procedures.
Excel spreadsheets were the traditional method of fixed asset tracking until the introduction of software. However, many products on the market require additional hardware, plus software licenses, and charge per user. Companies are then forced to limit the number of employees they involve in these processes simply because the products are expensive. For maximum accountability and efficiency, companies must include all stakeholders in the asset management process. Asset Panda enables them to do just that – and at an incredible value. Our clients are entitled to an unlimited number of users at no additional charge, which effectively closes the communication loop and encourages transparency.
Accounting and compliance are extremely important for any organization. Asset Panda’s real-time data enables clients to access that vital information quickly and easily, with the reassurance that they’re obtaining accurate information regarding asset depreciation.
This powerful tool empowers clients to display and manage their assets any way they want. From the custom dashboard to custom fields, actions, reports and notification, user configurable views, custom role-based security, maintenance scheduling and so much more, Asset Panda was designed to be the most flexible, customizable, secure and easy-to-use asset tracking platform on the market.
For more information, visit www.assetpanda.com