The Investment Recovery Association’s
Benchmarking Committee has identified eleven Best Practices associated with successful investment recovery programs and operations. 
The Best Practices identified are:
1. Strong and visible management support
2. A seamless approach to surplus asset management
3. Regular reporting of metrics and  successes
4. Financial incentives for surplus disposition
5. Use of surplus and refurbished assets instead of new wherever possible
6. Early investment recovery involvement in capital projects from real estate purchases to plant  closures
7. Investment recovery supplier integration and support
8. Effective use of technology to support surplus sales or redeployment
9. Efficient surplus prevention and return-to-supplier programs
10. Strong external networks to support surplus sales or redeployment
11. A value chain approach to surplus asset disposition
The road to Best Practices implementation starts with strong and visible management support. Other than selecting this as the first among equals, there has been no officially defined hierarchy developed by the association for the other ten Best Practices listed above. The IR Best Practices were established years ago and were updated in 2007/2008. Importantly, there appears to be significant room for improvement in the implementation of the Investment Recovery Benchmark Practices among corporate IR departments. According to the Investment Recovery 2009 Survey Results  compiled by CAPS Research Institute, only 23 percent of the survey participants reported that six or more of the Best Practices are in place within their organization.
To help keep IR Best Practices in the forefront of the membership, in each issue of ASSET 2.0 in 2010 the Benchmarking Committee will share some interesting facts and results from the latest survey. According to Rob Hubert, committee chairman, the Benchmarking Committee and CAPS Research have received board approval to pursue possible approaches to developing shorter
surveys that can be fielded more frequently. 
Reprinted from ASSET 2.0, the Investment Recovery Business Journal, Vol. 2, 2010

© The Investment Recovery Association



Click Here to Download Full Issues of Asset 2.0