Why IT Asset Disposition is Essential For YOUR Organization
The aim of IT Asset management is to get value from assets. With technology life span becoming growingly shorter, companies are increasingly looking to recover optimal returns from their IT waste through a variety of streams; disposal, obsolescence, take back programs, quality control and manufacturing rejects etc.
IT asset disposition (ITAD) as opposed to disposal is completely in line with the Circular Economy thinking of repair and reuse. Therefore, disposing of your company’s obsolete technology in a compliant way is not only the right thing to do but also, a cost saving measure and as a risk management strategy.
Let’s take computers and smartphones for example, these and other IT equipment may now be ready for retirement but their memory never fades. Even printers, hard drives and data tapes that are not properly wiped or destroyed can give up sensitive data such as addresses, financial account numbers and confidential business information. This opens up real risk, not just to your business but also to your customers, employees, shareholders and to your reputation.
GDPR = Big Risks + Big Potential Costs
Many organizations have no formal IT asset disposition programs in place and often implementation is delayed due to the perceived cost. Though, if these organizations considered the potential risks of losing control of old equipment, they would understand that they simply can’t afford not to establish a program. It is very important to be aware of the fact that just because a piece of equipment doesn’t work, it does not mean that its data can’t be retrieved.
Organizations need to be in compliance in order to avoid the steep fines that could occur if they fall victim to a data breach. Either 4% of the annual turnover or 25 million Euro (whichever is greater) can be the result of non-compliance.
IT Equipment Remarketing = Value Recovery
Remarketing is commonly known as value recovery and is a central function of IT asset disposition. IT equipment still holds value despite the fact that it may no longer meet your organization’s needs. Once a piece of equipment is removed from the working environment, its components can be either refurbished, assessed or remarketed.
Remarketing your old IT equipment maximizes your return on investment and minimizes your environmental impact. The secondary market for used IT equipment is huge and is estimated to be worth upwards of $1 billion. Few companies have the budget to purchase new IT equipment, so instead they get second hand assets at a fraction of the cost. This cost saving and value recovery strategy can help optimize your IT spend.
Gain Control Over Your IT Inventory
Disposing a collection of assets is not the easiest of tasks especially when each has its own specifications. The benefits that come from asset tracking and reporting are clear and ensure that every single device is accounted for. You can choose an online portal to do this in real time and/or you can let an experienced ITAD company handle the tracking for you. Either way, you are assured of a strong track and trace.
Corporate & Regulatory Compliance
No matter what the industry, every business must adhere to corporate and regulatory compliance during IT asset disposition and data destruction. If devices are handled irresponsibly, you can risk penalties, fines and more importantly, your brand’s reputation can suffer. We cannot stress the need to manage the disposal through an accountable, certified and secure process that will minimize these risks. Once again, GDPR comes to mind!
Do Your Part to Tackle the E-Waste Crisis
Increasingly new technologies influence the way we live, work and interact with each other. Over the past few decades, rapid technological advancement has not only evolved our communication abilities and increased our rate of productivity, but it has also resulted in an increase in electronic goods discarded into our waste stream.
It is estimated that 49.8 million tons of e-waste will be produced worldwide by 2018. And while e-waste takes up 2% of the space in US landfills, it produces 70% of our society’s overall toxic waste. Not only is it an environmental requirement, choosing an environmentally friendly way to dispose of your IT assets will minimise any risks and stop you worrying about an environmental disaster and give you more time to focus on everything else.
Corporate Sustainability Reporting
All organizations that consider themselves environmentally conscious want to feel (and be assured) that its obsolete equipment is being handled in an environmentally-friendly fashion.
There are industry certifications and standards in place that can provide you with the confidence in knowing your equipment will be managed in a safe, secure and efficient manner. By following these standards, you will avoid those nagging feelings that you could be caught up in environmental dilemmas, something you definitely don’t want to be involved in.