5 Steps to Complete Asset Recovery
When upgrading an IT device the replaced device is often viewed as “scrap” and not considered for its full potential value. While the average person may not be familiar with current market values for reused or refurbished electronic equipment, there are professional companies who specialize in this, providing clients with the most value for their devices.
The following provides a simple breakdown of the process each item will go through when handled by a fully-certified and credible IT asset disposition vendor. There are several considerations that must take place to ensure your company’s legal compliance, data security and environmental responsibility.
Several considerations that must take place to ensure legal compliance, data security and environmental responsibility Click To Tweet
Step 1: Collection
IT and electronic equipment is carefully packed and palletized to prepare for secure transportation to the nearest facility for further processing. All items should be handled securely and with proper care to ensure reusable devices are not physically damaged during transit.
Step 2: Secure Transportation
Security requirements are in place for handling, warehousing and transportation of goods to protect customer IT assets and reputation. Some companies can offer on-site data destruction services which can ensure all digital data is destroyed prior to leaving the client’s site. Here is a video that provides a good overview of the process itself.
Step 3: Receiving
Upon arrival, electronics are typically tracked by unit, weighed, verified, entered in a management system and tested for reuse, resale or end-of-life recycling.
Step 4: Processing
Data is erased using one of the following methods: clearing, purging or physical destruction. Following data destruction, all units are tested prior to being resold back into the market for quality assurance. Items that cannot be reused will be processed for end-of-life recycling.
Step 5: Reporting
Clients receive certificates of destruction and recycling following material processing. Additional reporting and certificate documents are created as needed based on the scope of work. Refurbished electronics are either resold back into the market, or reallocated within the company for use within a different department.
It’s important to ensure the management of retired IT assets is being handled in a timely manner due to quickly decreasing market values. The longer an item is stored, the more that item will decrease in value. Depending on how much IT equipment your company manages it is recommended to have an ongoing relationship with your vendor to ensure regular and timely pickups are occurring.
Choosing your vendor can be overwhelming but there is guidance online that can help you assess if you’re currently working with or selecting the vendor that’s right for you.
Download this RFP template to access guidelines for selecting an IT asset disposition vendor.