In asset management, maintaining a clear and traceable chain of custody is essential when dealing with sensitive information and assets, ensuring every step of an asset’s journey is meticulously documented from acquisition to final disposition. This process involves documenting each individual or organisational unit that handles the asset. Along with key details like the date, time, and purpose of each transfer. The assets in question can range from equipment and infrastructure to data and systems.
By maintaining a thorough chain of custody record, transparency is increased, and accountability is ensured for all actions taken with the asset. This documentation plays a vital role in risk mitigation by reducing the chances of malicious actors tampering with important assets. “A break in the chain of custody refers to a period during which control of an asset is uncertain and during which actions taken on the asset are unaccounted for or unconfirmed. Such breaks present opportunities for malicious activity that may compromise the integrity of the asset. In the event that the chain of custody is broken, the integrity and reliability of the asset’s system, components, and accompanying data should be evaluated as to whether they can be restored to their original state and reinstated into the asset.” CISA: Chain of Custody
An Enterprise Asset Management (EAM) solution, designed with a strong focus on chain of custody, asset visibility and accountability, is a critical tool for organisations that need to efficiently manage their sensitive assets. This means that organisations can accurately trace the history of each asset, from the time it is acquired to the time it is disposed of, and who has had custody of that asset at any given time.
Asset loss or mismanagement is a significant risk to any organisation since assets can move around both within a location, among personnel, and outside, among service providers. Asset tracking, in its simplest definition, is a method to track the whereabouts (location/organisational unit) and who is responsible for the asset. Tracking and Accountability
Hardcat’s EAM solution has a strong focus on chain of custody and offers specific advantages compared to other enterprise solutions due to its focus on detailed, traceable asset tracking. Here’s how Hardcat outperforms:
Dedicated Chain of Custody
Hardcat solutions are designed with specialised chain of custody tracking tools, which allow for the detailed logging of every transaction or transfer involving an asset. Every movement of the asset – from its acquisition, through different users and locations, and even disposal – can be tracked precisely. This granular tracking is particularly important for assets where strict compliance or security protocols must be met.
Audit Trail and Compliance
Hardcat excels in providing a clear, auditable trail of all asset movements, making it easy to comply with regulatory requirements. For assets that often need detailed tracking for security and legal compliance, Hardcat’s features enable organisations to generate audit reports that highlight exactly who had possession of an asset and when.
Transfer Tracking and Ownership Changes
Hardcat provides an intuitive interface for tracking ownership or custodian changes of assets. This is particularly important for IT departments. Devices like laptops, servers, and peripherals frequently move between different users or locations. The system offers real-time updates on where assets are, who is responsible for them, and the condition of the assets during their lifecycle.
Role-Based Access for Asset Control
Hardcat offers role-based access, ensuring that only authorised personnel can update the chain of custody records. This feature makes it easier to control and limit access, ensuring security when assets move through different hands or departments.
Incident and Maintenance Tracking
For assets, Hardcat allows users to integrate incident tracking with the chain of custody. If an asset is transferred due to an incident (e.g. a broken laptop sent for repair), the system links that event directly to the asset’s chain of custody record. This is particularly beneficial for departments in maintaining accountability.
Chain of Custody Reporting and Visibility
Hardcat provides a user-friendly reporting system that easily generates chain of custody reports for assets. This can be critical for audit purposes or internal reviews of asset movement, as authorised users can quickly extract relevant data without needing to navigate complex systems.
In Summary
Hardcat offers specialised and easy-to-use tools for tracking the chain of custody of assets, with an emphasis on auditability, compliance, and real-time tracking. Don’t let gaps in your chain of custody put your sensitive assets at risk. Our innovative solutions ensure complete visibility and accountability.
Hardcat EAM has several smarts built into the software. Offering control over the chain of custody of all your high-value and critical assets. The advanced tagging and tracking capability ensures you will never lose an asset. Alerts for preventative maintenance saves you from unnecessary downtime. There is much more to Hardcat EAM, and we would welcome to tell you more and give you a demonstration.
