Chain of Custody on Physical Assets

I spend a lot of time working with our customers, specifically leading the Customer On Boarding team to implement the eQuip! asset management software for new customers. During the Customer On Boarding process, our customers are transitioning from a system of “email plus excel sheets” to a web based system of updated information for the “Where”, “What’, and “Who” of their physical assets.

What I hear from our customers is that, among other efficiency gains, they are most excited about being able to track the chain of custody with the eQuip! system.

Tracking the chain of custody is basically keeping a record of the transfer of assets among people, when and who, so you always know who is accountable for the asset and can instill the sense of accountability in the organization.

It seems very simple and straightforward, but it is actually very difficult to do if you are using emails or excel sheets to track physical assets. As a result, in most organizations, the chain of custody is not tracked. The risks can be damaging. For example,

  1. Lost or missing laptops with sensitive data
  2. Stolen product samples landing in competitors’ hands
  3. Company assets on eBay

Because tracking chain of custody is important yet tedious, we want to make it very easy to do in the eQuip! software. Most recently, we have introduced the asset Check In and Check Out feature on mobile devices. In the near future, we plan to make the approval process secure but simple.

Our goal is make it easy to institute asset accountability.

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