When closing a facility for any reason, a best practice is to have a process in place for the management of surplus assets. This is usually a large undertaking, as businesses create teams and fill roles dedicated to inventory counting, valuation, sales, removal, shipping, and dozens of other tasks. If these processes are not streamlined or efficient, organizations will fail to get the full return on investment that their companies demand.
This is why many businesses turn to an asset management partner. Often internal asset disposition teams or facility managers need assistance when closing down offices and production lines. Closing down a branch is difficult, and it’s a task that requires help from trusted asset management service providers. This makes processes easier, but one question is left unanswered: How do you pick a partner? Simply put, facility managers should choose a best-in-class service provider such as Liquidity Services.
Listed below are eight reasons why businesses partner with Liquidity Services when experiencing facility closures.
1. Maximum return
Asset disposition is at the core of Liquidity Services’ business model, with professionals dedicated to maximizing recovery. Liquidity Services’ job is to provide businesses with the best options for selling or redeploying assets and equipment, getting back what your assets are worth or more.
2. Speed and efficiency
Liquidity Services can leverage proven best practices to increase the speed of disposition. This is a necessity for many organizations, as many facilities are often challenged by tight timelines. Whether you’re facing the end of lease or an acquisition, Liquidity Services professionals are able to complete the disposition process within the most challenging timeframe.
Fast valuations or quick disposition? Liquidity Services’ can meet any deadline.
3. Cost savings
We can help redeploy or sell assets that otherwise would cost businesses to have taken away, stored, or destroyed. Aside from that, with tools to manage equipment and machinery, unnecessary procuring and other redundancies in operations will be migrated, ensuing more capital for purchasing business critical instruments.
Liquidity Services’ is an industry leader that combines market research with industry knowledge, allowing assets to be valued accurately, best practices customized, and working capital maximized. For example, an airport authority worked with us for three years to ensure that all of its construction equipment was swiftly redeployed or sold as soon as it was no longer required on site. The results were a maximized-cost effectiveness of resources and the project was completed on budget and on schedule.
5. Customized approaches
Based on industry experience, Liquidity Services will craft an optimal strategy for facility closures. Every business has unique aspects, and respecting those will be critical to achieve a successful closure. With coverage for sectors such as biopharmaceuticals, aerospace, retail and more, there will always be a professional that understands specific needs and industry requirements.
6. Sustainability and compliance
Asset disposition and redeployment processes must strictly adhere to government regulations and comply with industry standards. Additionally, many organizations have their own sustainability metrics that they would like to meet. Liquidity Services respects those requirements and has multiple solutions in place for e-waste and other sensitive assets. Whether you need data wiped or sustainable disposition, we can help achieve those goals.
7. Global approaches and online marketplaces
Liquidity Services, an international public company, operates with a global approach to asset disposition. This is critical for facility closures on tight timelines, but this outlook also helps businesses achieve maximum working capital. For example, Liquidity Services’ online marketplace GoIndustry DoveBid, one of the largest of its kind for business surplus collected and sold around the world. With an awareness in regard to local laws, compliance requirements and economies, we can locate where to receive the most ROI.
Closing a facility can be difficult, but with a trusted asset manager partner and software solution, the process will be simplified.
8. Inventory tracking
Whether your facility is closing or merging with another, tracking capital assets is vital. Liquidity Services’ provides businesses with AssetZone®, a software-as-a-service solution that allows managers and employees to collect detailed accounts and photographs of each and every asset. While many organizations might already have inventory tracking tools, AssetZone’s cloud-based functionality guarantees complete visibility across an organization, ensuring redeployment opportunities can be recognized and met.
An example of excellence
If those eight reasons aren’t enough to top the scales, it’s important to remember that Liquidity Services is available to help organizations and teams of all sizes when they are faced with facility closures or scaled back operations. The experiences of a manufacturer specializing in consumer goods are a great example of Liquidity Services’ past successes with facility closures. Due to working with us, it saved over $2.8 million through redeployment efforts. More than 350 lots of items were sold within a required timeframe, netting the company an additional $611,900 in returned revenue.
Whether you are a facility manager or executive, the choice is clear: A partnership with Liquidity Services is the best way to successfully close an office, branch, or plant.