Protecting your company’s valuable assets should be one of your biggest priorities. These assets – often referred to as “fixed assets” – can include a variety of tangible items, such as computers, vehicles, tools, and other equipment owned by the company to successfully run the day-to-day business operations. What many people fail to acknowledge, however, is that if an item or material qualifies as a fixed asset, then so does anything used by the company to store its sensitive data. While data and information is primarily viewed to be intangible, it qualifies as a fixed asset once it is loaded onto hard drives or computers. Protecting this data at all times, therefore, becomes just as much of a priority as protecting any other fixed asset.
According to recent research by Mishcon de Reya (a business law firm), 95% of the data stolen from a company is taken by a former employee looking to make use of it in their next business opportunity. In addition, 65% of those who leave the business often bring sensitive information with them to a new company while 30% use it to create a business or organization similar to the one they left. This practice truly highlights the need for a fixed asset management program that includes data protection if it is stored on a physical machine or inventory item.
When you think about fixed assets management software, you probably envision a solution similar to that of your accounting software: lots of financial reports, data visualization capabilities, and features that make it easy to manage the accounting of your business’ fixed assets. What you probably don’t expect to receive from your fixed assets management software, however, is data protection. Sage Fixed Assets (formerly Sage FAS Fixed Assets) will help you not only protect your physical fixed assets, but it will also help you protect your important business data and information. That’s a win-win situation all around, don’t you think?
With specialized inventory tracking and security features that prevent employees from accessing information they shouldn’t, Sage Fixed Assets is the ultimate solution in fixed assets and business data protection. The software allows you to keep current tabs on all items, create an endless supply of custom reports, and conduct thorough inventories of all of your fixed assets.
As always, you should take the necessary steps to prevent data loss as the result of employee theft in addition to implementing the software. We suggest focusing on your most vulnerable areas and addressing them from an individual security perspective. For example, you could add fixed asset tracking labels to any electronic items used to store important data or information to aid in location and recovery should the need arise.
While it may be difficult to think of data as a fixed asset, the reality is that it is one of your most important assets and should receive the same amount of protection as all of your other business assets. If you would like to learn more about Sage Fixed Assets or improving your fixed asset management program, give us a call today. We’d be more than happy to help you protect the things that matter.