As the director of an IT department for a growing company, one of your key responsibilities is to select a trusted IT Asset Disposition (ITAD) provider. While this task may seem straightforward, the reality is that not all ITAD providers are created equal. Just one oversight or mistake by an inexperienced provider can compromise confidential records, result in costly fines, and jeopardize your company’s reputation as a trustworthy organization.
Fortunately, you can help avoid these pitfalls by ensuring that the ITAD partner you choose exhibits some fundamental qualities that set them apart from the competition. From a strong focus on data security to the ability to boost your ROI on your IT assets, the ITAD partner you select should have a proven track record of success. Below is a look at some of the key challenges related to the disposal of surplus IT data and four things to look for in your ITAD partner.
What Are the Most Common Challenges Related to the Disposal of Surplus It Data?
“Large U.S. organizations have made major improvements in their information technology asset disposition (ITAD) practices this year, according to new primary and secondary research conducted by Compliance Standards LLC (CS). But an unsettled ITAD vendor ecosystem has raised concerns among ITAD services buyers, leading to reduced commitment from users.”
– Recycling Today
Research on ITAD practices indicates that American businesses are improving their ITAD practices. However, researchers have also discovered that the ITAD industry encompasses providers that use unethical recycling methods. Other challenges include online selling of surplus data and a lack of focus on audit reporting. A recent compliance article in Recycling Today outlined these concerns, highlighting the need for improvement among ITAD vendors in the key areas outlined below.
1) Adhere to the Highest Recycling Standards
Safe, eco-friendly e-waste recycling should be a top priority for your ITAD partner. The partner you choose should offer solutions that comply with regulatory standards in your industry in addition to government compliance standards. The nation’s top ITAD partners are aware of all of the authorized disposal facilities in the United States and will ensure that your electronic waste is properly recycled or disposed.
Failure to choose a partner with a focus on recycling standards can leave your organization at risk for costly fines and civil penalties. For example, Whole Foods Market California was recently found guilty of mishandling the disposal of electronic devices. They were fined $1.2 million for failing to properly dispose of their electronic waste and were required to provide extensive employee training on the proper disposal of hazardous and electronic waste.
2) Timely and Accurate Audit Reporting
Audits require just the right balance of efficiency and exhaustiveness. For example, reporting audit times should take no more than 10 business days. More importantly, the ITAD partner you select should be comprehensive in their review of your assets. They should utilize a proactive approach to avoid ITAD problems and should offer the following as a part of their auditing process:
- A detailed review of all of your assets to identify opportunities for value
- Verification of the serial numbers, makes, and model numbers of all of your equipment
- A thorough review of your equipment to ensure you are receiving the highest possible value on your investment
- Discuss the internal control mechanisms that you have in place to detect and prevent misuse of equipment and data
3) Robust Data Security
Choosing an ITAD partner with a flawless reputation for proper data removal is essential to preventing costly data breaches. The average cost of a data breach in the United States has reached a record high of $7.35 million, highlighting how vital it is to properly remove customer data. Secure data removal methods include shredding hard drives or using an approved Department of Defense compliant erasure software application.
4) A Higher ROI on Your IT Assets
Many IT asset managers are unaware of the potential for revenue that is directly related to their electronic asset disposition. However, an accomplished ITAD company that specializes in remarketing can help you enjoy a higher return on your IT assets. Here are some specific points of focus for a forward-thinking ITAD partner to help you enjoy a higher ROI on your IT assets:
- Asset Tracking: The ITAD partner you choose should continually monitor all of your IT assets, keeping track of procurement dates
- Timing: A proactive ITAD firm will help ensure that you liquidate your assets before they lose too much value
- Logistics: Efficient logistics strategies can equate to thousands of dollars in additional revenue depending on the size of your business
Finally, it is important to look for a partner that is experienced with the secondary market for Enterprise IT assets and endpoint devices. In contrast to generalist ITAD companies that typically dispose of assets with little or no resale value, ITAD companies with remarketing expertise can maximize recovery for remarketable assets. The end result is a healthier bottom line for your organization.
Successfully Overcoming Your IT Asset Disposition Challenges
Selecting a trusted ITAD partner is one of the most important decisions you will make as an IT Director. As outlined above, it is critical to carefully evaluate prospective partners to ensure that they have the experience, resources, and efficiency required to properly dispose of your IT assets. Additionally, the ITAD partner you choose should be sharply focused on helping you improve your ROI on your IT assets while generating disposal solutions that are environmentally-friendly.
Learn More About What to Look for in an ITAD Partner when Disposing of Surplus IT Equipment
Zeriva welcomes the opportunity to work with your organization to map out a customized plan to properly dispose of your IT assets. Our team of responsive, certified engineers is accustomed to disposing of IT assets for Fortune 500 companies and offer a comprehensive array of IT solutions for growing companies. Helping you enjoy a high ROI on your assets while complying with industry regulations is our top priority, and we offer an impressive track record of success in the remarketing arena. We look forward to the opportunity to serve as your trusted ITAD partner!