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Bring Your Own Device or BYOD is a rising trend in almost every region of the world. In the workplace, BYOD may either take place ‘under the radar’, or it may be part of official corporate policies that everyone in the organisation must adhere to. With BYOD, employees can access their corporate email or other technology, join tele- or video-conferences from other locations and even stay in touch with work while they’re out of office.

• Companies that encourage and adopt BYOD enjoy several advantages:
• They can garner employee loyalty
• Boost productivity and efficiency (a direct result of allowing them to work with familiar devices)
• Cut costs (hardware devices and software solutions)
• Improve employee morale

On the flip side – although BYOD can be a workable solution for both employers and employees, it may involve a security risk, not only to the device itself (theft), but also to company’s data and applications (through data breaches, malware and cybercrime). Privacy protection is also a concern.

BYOD Trends in 2019

Reports and analyses have found that:

• The BYOD market was worth just $30 billion in 2014. It is likely to hit almost $367 billion by 2022 (BetaNews)
• BYOD at work saves employees 58 minutes per day and increases productivity by 34% (Frost & Sullivan)
• Companies supporting BYOD save $350 per employee per year (Cisco)

These numbers show that the number of people who use personal devices for professional use has steadily increased, blurring the lines between professional and private lives. This means that many companies will probably embrace BYOD, albeit as a complementary measure rather than a stand-alone one.

BYOD Trend in India – are Indian companies open to BYOD?

In general, the ‘largest’ BYOD market is North America, although the ‘fastest-growing’ market is Asia-Pacific. Thanks to a tech-savvy population and changing attitudes to ‘work-from-home’, many organisations in this region are adopting BYOD to save costs to company and motivate employees.

In 2014, 42% of Indian firms had a BYOD policy. However, a more recent survey by IBM India found that this number had increased, with about 57% of enterprises planning to invest in BYOD. Key BYOD vendors like Cisco report increased revenues from their BYOD business from India, which shows that there is a notable shift towards BYOD in Indian enterprises. In particular, BYOD is rapidly gaining popularity among India’s huge base of over 50 million Micro, Small and Medium Enterprises (MSMEs). Of course, not all industries in India (and companies within industries) uniformly implement BYOD. Among those that do, the IT/ITeS vertical leads the pack, followed by BFSI, telecom, media and entertainment.

Thanks to growing internet and smartphone penetration, surging data telecommuting needs and demand for increased workforce productivity, India’s BYOD market is projected to grow exponentially in future. However, concerns around privacy and data security may slow down BYOD adoption. Thus, although some Indian firms are embracing BYOD, its adoption may not be on the same scale as in other regions or countries.

There are various reasons as to why change has become such an important factor in many organizations, including increased transparency, mobility of labor, flow of capital etc. This has resulted in a constant shift across the state of market, but the list of companies who are able to effectively implement ‘change’, and come out the other end as successful comprise in total only about 30%. There are several factors at play in a multitude of directions, which can cause any ‘change’ within an organization to go awry. Proper planning, and projection of what can be the consequences are perhaps the most important factors at play when such a situation should ensue, or might be required at large. A starting point would be to look at the entire scenario, and execute an effective plan of asset management.

The importance of asset management in terms of properly bringing about organizational change

Assets of any organization or company can be anything that could be attributed to as being essential properties of the same. They can be tangible, such as objects and properties, and intangible, which mostly refers to such entities and considerations as human capital, intellectual property, financial assets etc. These are the factors that comprise, and define any current state of organization- specifically providing the profit and loss figure in addition to other outcomes. The ‘human problem’ is a major one, considering that a workforce may feel disenfranchised with the change being exerted. In addition to that, financial assets may take a hit when the change is being implemented, but the organization should be able to recuperate if the change progresses through each stage of probable status quo. As a result, one can see how important company assets could be in the face of change. Under such, circumstances asset management considerations come to the forefront.

How to properly implement asset management in the given scenario?

First of all, any organizations should make sure that all its component details of assets are not only encompassing to every last measure all across the organization, but regular updates are necessary as well. Take, for example, the human capital; the knowledge, ability, and potential for growth of any employee, irrespective of whatever position he/she occupies, should become a deciding factor in the entire presentation of the problems at large. Proper planning of all assets would bring about what is known as automation of asset management, which is the scaling of assets in association with a multitude of different perspectives. It would ensure that not only there would be proper allocation of resources, but also how their asset definition could get changed. Such techniques and theories as depreciation calculation, asset disposal, import existing asset data etc.

With respect to a holistic facilitation of automating asset management, change can be brought about with respect to a dynamic nature of all resources possessed by the company in general. However, in order to truly bring about a change with no decided problems or issues, proper communication channels should be broadcasted so that the company could quite effectively work with employees who welcome change, and those who don’t. Other factors could also be implemented, but all the organization apply these approaches to full effect, and have been known to be successful in the face of this constantly shifting market scenario.