From a business perspective, one of the biggest takeaways from last year is how companies were forced to become flexible and adapt with the Covid-19 pandemic. From migrating to remote work for the foreseeable future, to more strictly managing budgets and cutting back. Some more experienced organizations took steps to update their information technology asset disposition (ITAD) strategies going forward. There are multiple factors that go into creating a successful ITAD strategy. Successful ITAD management requires a strict and well-defined process. Below are ten expert tips to take with you into a successful 2021.
1 – Do Your Homework
Multiple certifications are available to help companies identify which ITAD service providers have taken the time to create processes in accordance with local, state and federal laws. Having ITAD processes in a structured guidebook is important, but most would agree that the execution of the procedures is entirely different. A successful ITAD service comes down to the people following the process set in place. When selecting an ITAD partner, make sure you do your homework.
2 – Request a Chain of Custody
Every ITAD process should cover several key areas including traceability, software, logistics and verification. Be sure to maintain a clear record of serial numbers on all equipment, physical location, purchase and sale price and the staff managing the equipment. The entire chain of custody should be recorded, as well as multiple verification audits ensuring data sanitization and certificates of data destruction are issued.
3 – Create a Re-Marketing Strategy
Creating a re-marketing strategy can help ease the financial burden of managing the ITAD process. Donation, wholesale and business to consumer are the primary channels in the marketplace for IT assets. Re-marketing can greatly help pay the costs of managing ITAD operations.
4 – Maintain an Accurate List of Assets
Many organizations use their IT asset management software to create an early list of assets that need to be retired. Sometimes this initial list also becomes the master list used in their ITAD program. However, IT assets that are not on the network are not usually detected by the software. Common asset tracking identifiers used to classify inventory include make, model, serial number and asset tag.
5 – Choose a GDPR-Compliant Provider
Some of the biggest benefactors to emerge from the Covid-19 pandemic were cloud providers. However, selecting what cloud provider to use is critical. Find a cloud provider that allows users to access documents from a GDPR-compliant cloud-based server, keeping the documents within GDPR legislation.
6 – Avoid GDPR-Related Fines
Similar to the previous tip, it is important that data and documents are classified centrally, so employees can make legal and informed decisions as to what documents they can, or cannot, access on personal devices. Ensure GDPR policies are in place and adhered to for all staff, wherever they may be working.
7 – Erase Data Off of Personal Assets
Hopefully in the near future, Covid-19 will no longer be a threat to businesses and regular life and work will resume. When that happens, it is wise to consider whether employees were using their personal devices while working from home. If so, all documents and data stored on personal devices must be erased accordingly. Put a policy in place for staff to sanitize their devices. This will help companies avoid being subjected to laws relating to data mismanagement or the possibility of sensitive corporate information remaining on personal devices.
8 – Ask the Right Questions
In the past, it was uncommon for organizations to practice strict selection processes and vetting for ITAD providers. Companies didn’t know which questions to ask and most were satisfied with simply hauling away their retired IT equipment. Now, most organizations issue a detailed report evaluating ITAD vendor capabilities and strengths. The reports generally include information regarding compliance, data security, sustainability and value recovery.
9 – Use On-Site Data Destruction
Just one case of compromised data can be overwhelming for a company. Confirming security of all data stored assets is imperative. It is estimated that about 65 percent of businesses require data destruction while their assets are still in their custody. The increase in on-site data destruction services was foreseeable as it is one of the highest levels of security services in the industry.
10 – Increase Your Value Recovery
Even if the costs of partnering with an ITAD vendor weren’t in the budget, there are still ways you can increase your value recovery.
- Don’t wait to resale. When it comes to value recovery of IT assets, timing is everything. Pay attention to new IT innovations combined with short refresh cycles. These are some reasons why IT assets can depreciate in value so quickly.
- Take time to understand your ITAD vendor’s resale channels and strategies. A vendor who maintains active and varied resale channels is preferred.
- Know the vendor’s chain of custody. Each phase of moving IT equipment from your facility to an ITAD services center, and eventually to secondary market buyers should be considered.