Over the past 15 years the market for the disposal of electronics and IT equipment has undergone a dramatic evolution. Businesses who were accustomed to receiving payment for the commodities resulting from old devices had to shift gears to consider IT asset disposition (ITAD) as a part of their departmental costs. Now not only does the disposition of IT equipment cost a fee but security threats have forced executives to put more emphasis on ensuring data protection rather than finding a low-cost disposition vendor.

Globally, the likelihood of a data breach involving 10,000 lost or stolen records in the next 24 months is 26 percent, according to the 2016 Ponemon Cost of a Data Breach Study1. This report also discloses that the cost of a single data breach grew from $3.8 million to $4 million. These figures indicate precisely why companies are paying closer attention to security in all aspects.

A separate survey indicates 95 percent of companies believe they will increase security spending in the next year2, leaving many in search of ways to cut costs. The significance of finding the right vendor is critical when dealing with security, but security doesn’t have to be the only consideration. Here are three ways you can help protect data while still cutting expenses to ensure you’re making the most of your equipment, from beginning to end.

  1. Harvest the software

McKinsey and Sand-Hill Group estimate that 30 percent or more of IT budgets are consumed by software license and maintenance costs. Fortunately when your computer finally reaches its end-of-life it doesn’t mean the software on that device has no further value to the organization. Occasionally companies deliver electronic devices to their IT asset management vendor with software remaining on the system. Make sure you or your ITAD vendor removes, deactivates and transfers this software so it can be used again.

  1. Remarket/resell equipment

Just because the device is no longer in working condition doesn’t mean it holds no value. Once removed from the workspace, IT components can be either refurbished, or assessed and remarketed. Identifying this value is best done by a professional with the expertise and familiarity of the secondhand market ensuring you’re receiving the best value for all devices.

  1. Re-deploy equipment internally

IT equipment can be some of the most valuable assets within a business. Therefore if a device has been replaced but still holds value, it may be worth continuing its use within a different department. Any data stored on the device can be wiped and removed to ensure cross-departmental security. This can ultimately extend the life of your IT assets within your business or organization, preserving your IT budget in the end.

Audits are always recommended to ensure these services are being performed securely and appropriately. Once the processes are in place however, your business will reap the benefits of secure IT asset disposition.

Remarketing used equipment maximizes return on investment (ROI) and minimizes environmental impact. Learn more

Sources:

  1. https://securityintelligence.com/cost-of-a-data-breach-2016/
  2. http://bizmology.hoovers.com/2016/01/companies-crank-up-security-spending-to-fight-cyber-attacks/