You might presume that disposing of your redundant IT equipment is as simple as wiping sensitive data and removing it from your business premises, be that through resale or disposal. In reality, however, there is much more to managing a secure IT asset disposition program than this.
With the average global cost of a data breach reaching almost $4 million in 2018– though it was nearly double this in the US– , it’s important for businesses to take every step within their power to reduce their risk of suffering a breach. A well-defined, well-managed ITAD program is vital to the protection of your business data and in minimising the risk of a data breach. Creating, and maintaining, an IT asset inventory list is the first step to managing a secure ITAD program as it can help you define ownership and track the value of your assets over their life cycle.
While the creation of this list may be overwhelming at first, most businesses have existing databases that can be of help. Of course, each of these assets must be identified along with its owner.
Once you’ve created this initial list, you must cross-check it with a physical inventory, to check for any inconsistencies, errors or missing items. Failure to do this renders the inventory practically useless as part of your ITAD management program, as you won’t be able to track assets effectively.
Updating the inventory regularly
An asset inventory is only useful as a point of reference and tracking if kept up to date. The inventory should be updated as and when there is a change in your use of IT equipment, be that a new device, a new owner or that a device has reached its end of life. You’ll need to provide the same level of detail when you update the inventory as you included when you created it- that means including the make, model, serial number and asset tag of each item.
Physically verifying assets on the list
While adding to the list regularly is vital, it is possible that certain items will be missed. As a result, you must also conduct a physical verification to log all items within your business. Not only does this mean new items are added, it means that redundant assets can be marked, and disposed of, accordingly. Furthermore, physical verification to ensure a complete list can make large-scale ITAD more efficient as exact processes and logistics can be determined, and quoted for, at an earlier stage.
Of course, these lists are particularly useful at the end of life stage of your assets, but they can facilitate other stages in your business- whether that’s claiming repairs and replacements under warranty, or updating your business insurance policy. However, having a dynamic asset list can also be beneficial on a wider scale, as they can minimise the generation of e-waste.
With over 22 years industry experience, EOL IT Services are proud to be the UK’s most accredited ITAD provider. We possess the skills, accreditations and experience to handle our clients’ data with the care they deserve, and to dispose of it responsibly and legally.
Contact us today on 0845 600 4696 or visit https://www.eolitservices.co.uk/services/it-asset-disposal/ to find out how we can help you dispose of your data safely and reliably.