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May 24, 2023
Embracing IT Asset Recovery: A Guide for Businesses
IT Asset Recovery is the process of effectively managing obsolete or redundant IT equipment, ensuring that the assets are reused, resold, recycled, or disposed of responsibly. It entails various practices, including refurbishing and reselling through wholesale and retail channels, refurbishing and redeploying within businesses, dismantling and recovering parts for reuse, and responsibly recycling equipment that no longer holds useful life. Yet the main goal of going through IT asset recovery process is to maximize your ROI on this significant capital asset. II. When Do You Start the Process?
There are considerations beyond when your network is not meeting your performance requirements that you should start this process. There are ways to increase the value of your old assets by starting before your network equipment reaches EOL or EOSL. There can be gains from donating and recycling your network equipment as well. III.Refurbishing and Reselling IT Assets
Refurbishing and reselling IT assets is a key aspect of IT asset recovery. It involves the repair and restoration of used IT equipment, making them market-ready for resale through wholesale or retail channels. This process is beneficial for businesses as it provides a means to recover value from old IT assets and contributes to a circular economy. It also helps the environment as e-waste is a significant environmental issue. IV. Redeploying IT Assets Within Your Business
Another significant facet of IT asset recovery is the refurbishing and redeployment of IT equipment within the business. This practice is cost-effective and can extend the lifespan of the IT assets, reducing the need for new purchases. Moreover, it minimizes electronic waste, fostering environmental sustainability. V. Parts and Components Recovery
The dismantling and recovery of parts and components for reuse is a viable alternative when IT equipment is not worth refurbishing or cannot be resold. This process entails the removal and reuse of functional parts from old devices, reducing the demand for new components and promoting a circular economy. Often network hardware like racks and enclosures can be reused to help reduce the costs. VI. Device Repair, Refurbishment, and Redeployment
IT asset recovery extends to the repair, refurbishment, and redeployment of devices. This includes software flashing and upgrades, advanced screen repair, and parts harvesting and recovery. These measures can significantly extend the useful life of devices, promote sustainability, and reduce IT expenses. VI. Selling Used IT Assets
Selling Used IT Assets involves preparing devices for resale by enhancing their appearance and functionality, often with the addition of packaging and manuals (kitting). On the other hand, device recycling is the responsible disposal of devices that have reached the end of their useful life. This includes liquidation and compliance with ERPA regulations for recycling and the Zero Landfill Initiative, minimizing environmental harm. This may seem to be the best way to maximize the ROI on your equipment but there are important items to be considered to make sure the process goes smoothly and in an environmentally sustainable way while still maintaining the value of this major IT asset:
a. Certifications and Compliance in IT Asset Recovery
Ensuring compliance with various standards and certifications like R2:2013, ISO 45001, and ISO 9001 is crucial in IT asset recovery. These certifications affirm a company’s commitment to responsible recycling, occupational health and safety management, and quality management, respectively.
b. Hard Drive Wiping and Shredding
To ensure data security, IT asset recovery includes practices like DoD & NIST Level Hard Drive wiping and shredding. These procedures ensure that all data is permanently erased from devices before they are refurbished, resold, or recycled.
c. Auditable Reporting for Data Destruction
To validate data destruction, IT asset recovery services provide auditable reporting. This can include video and barcode capture or digital certificates, confirming that all data has been appropriately destroyed.
d. Chain of Custody Documentation
A crucial component of IT asset recovery is providing a Chain of Custody Documentation, often with optional GPS tracking. This documentation tracks the lifecycle of the IT assets, ensuring transparency and accountability.
e. On-Site Services and Insurance
Keeping your company’s data safe and secure is a critical part for an IT director. Many companies can provide documentation on the destruction of your data when they receive your old equipment. If your data need to be keep on your premises and while it does incur additional costs, some IT asset recovery providers offer on-site services, providing convenient and secure asset collection, destruction, and recycling. They often also carry Errors and Omissions (E&O) Insurance for data destruction, providing businesses with added assurance of their data’s security.
IT asset recovery is a multifaceted and critical process in today’s digital age. It aids businesses in maximizing value from their IT yet the process can be fraught with risks and costs that can make it a wise decision to work with a full service provider than can handle as little or as much of the asset disposal process.
The Editorial Staff at TeleTraders, led by IT asset expert Clay Beckham and his seasoned team, boasts over 10 years of industry experience in IT asset management, secure IT asset disposal, and technology solutions. Founded in 2013, TeleTraders quickly became a trusted source of IT expertise. The team at TeleTraders demonstrates its commitment to excellence, spending countless hours each day handling a wide spectrum of IT equipment, spanning from intricate networking gear to precision barcode scanners. Our team strives to transfer our hands on knowledge into resources for IT professionals in businesses of any size.
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