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IT Asset Recovery Ultimate Guide: Maximize Returns

Unduit has helped companies of all sizes achieve remarkable IT asset recovery rates. We have successfully boosted recovery rates from minimal fractions to an impressive range of 80-90%, resulting in substantial savings of hundreds of thousands of dollars in IT budgets. What's our secret to success? It's rooted in a decade of dedicated research and mastering the optimization process for complex organizations with thousands of employees spanning the globe.   But here's the best part: we're excited to share all the valuable insights with you. In this ultimate guide to IT asset recovery, you'll find everything you need to know about optimizing your asset recovery process and achieving maximum ROI on your EOL technology. What is IT Asset Recovery? IT asset recovery is the process of retrieving and managing company-owned technology devices from employees or other sources. It helps ensure efficient resource utilization, cost savings, and data security. Sometimes this term is also used to refer to the entire process of retrieving, managing, and potentially extracting value from IT assets that are no longer in use or needed by a company.    Importance of Professional Asset Recovery Service Even though companies have the option to handle asset retrieval in-house, leveraging professional asset recovery services offers several advantages. By partnering with a reputable service provider, organizations can always ensure the following benefits: Cost Savings: Professional services help maximize cost savings by recovering and repurposing IT assets instead of purchasing new devices. Resource Optimization: Partnering with a service provider frees up company resources that would otherwise be dedicated to asset recovery, allowing them to focus on more critical tasks. Data Security: Asset recovery company ensures that sensitive company information is securely handled during the whole process and they can be held accountable if there's any data breach. Environmental Responsibility: Service providers promote sustainability by facilitating proper recycling or refurbishment of recovered assets, reducing electronic waste. Compliance and Risk Mitigation: Specialized organizations specialize in helping companies comply with regulatory requirements and mitigate the risk of data breaches. Automated Workflow: Utilizing an automated workflow system, service providers streamline and ensure efficiency and accuracy at every step.   The Procedure of IT Asset Recovery Assessment and Deployment Recovering company assets is a critical process that begins with a thorough assessment and deployment strategy. This involves identifying the assets to be recovered, evaluating their condition, and determining the most suitable approach for each device. Asset Assignment and Tracking To ensure proper management and accountability, recovered assets are assigned to specific employees or departments. This allows for efficient tracking throughout the recovery process, providing visibility into the ownership and location of each asset. Reporting and Data Security Data security is of utmost importance during the IT asset recovery process. Comprehensive reporting mechanisms are implemented to track the progress and status of each asset. Measures are taken to safeguard sensitive data through secure erasure or destruction methods. Asset Removal and Repurposing Once data security measures are in place, assets are removed from employees' possession. Depending on their condition and company requirements, the recovered assets can be repurposed for internal use or refurbished for resale. Another option is to donate the assets to charitable organizations, extending their lifespan and making a positive social impact. Choosing to Warehouse and Redeploy, Recycle, or Resell Professional asset recovery services usually offer organizations three primary options: warehousing and redeployment, recycling, or reselling. Warehousing and Redeployment  Recovered assets in good condition can be stored in a designated warehouse for future use (after refurbishment). This allows for internal redeployment to other employees or departments, maximizing resource utilization and minimizing unnecessary expenses. Recycling To ensure the safety of company data and minimize environmental impact, assets that are no longer functional or needed can undergo responsible asset disposition.  Reselling Organizations that no longer require old equipment but prefer not to recycle them can opt for liquidation by properly reselling the recovered assets. Liquidation provides an opportunity to recoup some of the investment while ensuring proper data destruction and compliance with regulatory requirements. Choosing the Right Asset Recovery Company It's important to choose a vendor that has extensive experience dealing with retired IT equipment. An experienced team of asset recovery specialists can help you get maximum residual value from every retired IT asset. Here are the major factors when evaluating vendors: Secure Chain of Logistics: Look for a vendor that prioritizes the secure transportation and handling of your assets and offers maximum visibility. This includes secure packing, using asset tag for better asset tracking, chain of custody records, and transportation insurance to safeguard against loss or damage. Global Support: If your organization operates internationally or has a distributed workforce, it's essential to choose a vendor that offers global support. This ensures seamless asset recovery regardless of location, with expertise in navigating local regulations and logistics. Flexibility in Service Options: A reliable vendor should offer flexible service options tailored to your specific requirements, whether on-site asset removal, hard drive destruction, or remarketing assistance. Certificates of Data Destruction: Data security is paramount in asset recovery. Ensure that the vendor provides certified data destruction services, verifying the proper sanitization or destruction of all electronic equipment. Reselling or remarketing: Opt for a vendor with expertise in recovering value from used assets. Look for those with a wide buyer network and the ability to maximize returns on your assets. Environmental Reporting: Choose a vendor with transparent environmental reporting to ensure their commitment to sustainable practices. Certifications and Compliance: Prioritize vendors with certifications like R2 or e-Stewards to ensure compliant e waste recycling. Integration with Systems and Inventory: Opt for a vendor that seamlessly integrates with your current systems to share data about your existing IT assets. This will help minimize conflicts and make the process seamless. Automation and Software Capabilities: Look for vendors leveraging automation and software platforms to take efficiency and visibility to the next level. Typical ITAD service providers usually don't offer this. Other than this, assess reliability through past projects, and client references to ensure their expertise meets your needs. Tips to Maximize Recovery Rates Before discussing best practices to maximize recovery rates, it's important to understand how they are calculated. Recovery rates are simply determined by dividing the number of recovered IT assets by the total number of eligible assets. Early communication with employees Proactively communicate with employees during offboarding, requesting the return of devices and providing reminders at each stage. Automating these communications ensures consistent and timely interactions Utilize automated solutions Implement an automated asset recovery solution to streamline processes, from tracking and management to reporting and disposition. Automation improves efficiency, reduces errors, and optimizes recovery. Ensure full visibility and reporting Establish a system that provides comprehensive visibility and reporting on all levels. Robust tracking mechanisms enable monitoring, and identification of bottlenecks, ensure no valuable assets are lost, and help with informed decision-making. IT Asset Recovery Cost Determining the exact pricing for IT asset recovery services can be a complex task. Here are some of the top factors that impact the cost: Hardware Specifications: The type, age, and condition of recovered IT assets influence pricing. Higher-value or specialized equipment may require extra handling. Electronics Recycling: If included, recycling services add value but can affect costs. The scope of recycling offered may vary. Storage Costs: When warehousing your assets with the vendor, consider expenses related to space, security, and maintenance. The volume of Assets: The quantity or volume of assets being recovered can impact pricing, as larger quantities may require additional resources or processing. Additional Services: Factors like data wiping, asset testing, refurbishment, remarketing, compliance records, and asset management software fees may impact pricing. We hope you found this ultimate guide to IT asset recovery helpful in understanding the importance and intricacies of the process. If you're interested in learning more or need further assistance in optimizing IT asset recovery in your organization, we can help. Get in touch with our team to explore how we can help you maximize returns, streamline your recovery efforts, and maximize ROI on retired assets. Continue reading

Suhaib K.

ITAD specialist

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Enterprise Device Lifecycle Management

June 12, 2023

IT Asset Recovery Ultimate Guide: Maximize Returns

Unduit has helped companies of all sizes achieve remarkable IT asset recovery rates. We have successfully boosted recovery rates from minimal fractions to an impressive range of 80-90%, resulting in substantial savings of hundreds of thousands of dollars in IT budgets. What's our secret to success? It's rooted in a decade of dedicated research and mastering the optimization process for complex organizations with thousands of employees spanning the globe.   But here's the best part: we're excited to share all the valuable insights with you. In this ultimate guide to IT asset recovery, you'll find everything you need to know about optimizing your asset recovery process and achieving maximum ROI on your EOL technology. What is IT Asset Recovery? IT asset recovery is the process of retrieving and managing company-owned technology devices from employees or other sources. It helps ensure efficient resource utilization, cost savings, and data security. Sometimes this term is also used to refer to the entire process of retrieving, managing, and potentially extracting value from IT assets that are no longer in use or needed by a company.    Importance of Professional Asset Recovery Service Even though companies have the option to handle asset retrieval in-house, leveraging professional asset recovery services offers several advantages. By partnering with a reputable service provider, organizations can always ensure the following benefits: Cost Savings: Professional services help maximize cost savings by recovering and repurposing IT assets instead of purchasing new devices. Resource Optimization: Partnering with a service provider frees up company resources that would otherwise be dedicated to asset recovery, allowing them to focus on more critical tasks. Data Security: Asset recovery company ensures that sensitive company information is securely handled during the whole process and they can be held accountable if there's any data breach. Environmental Responsibility: Service providers promote sustainability by facilitating proper recycling or refurbishment of recovered assets, reducing electronic waste. Compliance and Risk Mitigation: Specialized organizations specialize in helping companies comply with regulatory requirements and mitigate the risk of data breaches. Automated Workflow: Utilizing an automated workflow system, service providers streamline and ensure efficiency and accuracy at every step.   The Procedure of IT Asset Recovery Assessment and Deployment Recovering company assets is a critical process that begins with a thorough assessment and deployment strategy. This involves identifying the assets to be recovered, evaluating their condition, and determining the most suitable approach for each device. Asset Assignment and Tracking To ensure proper management and accountability, recovered assets are assigned to specific employees or departments. This allows for efficient tracking throughout the recovery process, providing visibility into the ownership and location of each asset. Reporting and Data Security Data security is of utmost importance during the IT asset recovery process. Comprehensive reporting mechanisms are implemented to track the progress and status of each asset. Measures are taken to safeguard sensitive data through secure erasure or destruction methods. Asset Removal and Repurposing Once data security measures are in place, assets are removed from employees' possession. Depending on their condition and company requirements, the recovered assets can be repurposed for internal use or refurbished for resale. Another option is to donate the assets to charitable organizations, extending their lifespan and making a positive social impact. Choosing to Warehouse and Redeploy, Recycle, or Resell Professional asset recovery services usually offer organizations three primary options: warehousing and redeployment, recycling, or reselling. Warehousing and Redeployment  Recovered assets in good condition can be stored in a designated warehouse for future use (after refurbishment). This allows for internal redeployment to other employees or departments, maximizing resource utilization and minimizing unnecessary expenses. Recycling To ensure the safety of company data and minimize environmental impact, assets that are no longer functional or needed can undergo responsible asset disposition.  Reselling Organizations that no longer require old equipment but prefer not to recycle them can opt for liquidation by properly reselling the recovered assets. Liquidation provides an opportunity to recoup some of the investment while ensuring proper data destruction and compliance with regulatory requirements. Choosing the Right Asset Recovery Company It's important to choose a vendor that has extensive experience dealing with retired IT equipment. An experienced team of asset recovery specialists can help you get maximum residual value from every retired IT asset. Here are the major factors when evaluating vendors: Secure Chain of Logistics: Look for a vendor that prioritizes the secure transportation and handling of your assets and offers maximum visibility. This includes secure packing, using asset tag for better asset tracking, chain of custody records, and transportation insurance to safeguard against loss or damage. Global Support: If your organization operates internationally or has a distributed workforce, it's essential to choose a vendor that offers global support. This ensures seamless asset recovery regardless of location, with expertise in navigating local regulations and logistics. Flexibility in Service Options: A reliable vendor should offer flexible service options tailored to your specific requirements, whether on-site asset removal, hard drive destruction, or remarketing assistance. Certificates of Data Destruction: Data security is paramount in asset recovery. Ensure that the vendor provides certified data destruction services, verifying the proper sanitization or destruction of all electronic equipment. Reselling or remarketing: Opt for a vendor with expertise in recovering value from used assets. Look for those with a wide buyer network and the ability to maximize returns on your assets. Environmental Reporting: Choose a vendor with transparent environmental reporting to ensure their commitment to sustainable practices. Certifications and Compliance: Prioritize vendors with certifications like R2 or e-Stewards to ensure compliant e waste recycling. Integration with Systems and Inventory: Opt for a vendor that seamlessly integrates with your current systems to share data about your existing IT assets. This will help minimize conflicts and make the process seamless. Automation and Software Capabilities: Look for vendors leveraging automation and software platforms to take efficiency and visibility to the next level. Typical ITAD service providers usually don't offer this. Other than this, assess reliability through past projects, and client references to ensure their expertise meets your needs. Tips to Maximize Recovery Rates Before discussing best practices to maximize recovery rates, it's important to understand how they are calculated. Recovery rates are simply determined by dividing the number of recovered IT assets by the total number of eligible assets. Early communication with employees Proactively communicate with employees during offboarding, requesting the return of devices and providing reminders at each stage. Automating these communications ensures consistent and timely interactions Utilize automated solutions Implement an automated asset recovery solution to streamline processes, from tracking and management to reporting and disposition. Automation improves efficiency, reduces errors, and optimizes recovery. Ensure full visibility and reporting Establish a system that provides comprehensive visibility and reporting on all levels. Robust tracking mechanisms enable monitoring, and identification of bottlenecks, ensure no valuable assets are lost, and help with informed decision-making. IT Asset Recovery Cost Determining the exact pricing for IT asset recovery services can be a complex task. Here are some of the top factors that impact the cost: Hardware Specifications: The type, age, and condition of recovered IT assets influence pricing. Higher-value or specialized equipment may require extra handling. Electronics Recycling: If included, recycling services add value but can affect costs. The scope of recycling offered may vary. Storage Costs: When warehousing your assets with the vendor, consider expenses related to space, security, and maintenance. The volume of Assets: The quantity or volume of assets being recovered can impact pricing, as larger quantities may require additional resources or processing. Additional Services: Factors like data wiping, asset testing, refurbishment, remarketing, compliance records, and asset management software fees may impact pricing. We hope you found this ultimate guide to IT asset recovery helpful in understanding the importance and intricacies of the process. If you're interested in learning more or need further assistance in optimizing IT asset recovery in your organization, we can help. Get in touch with our team to explore how we can help you maximize returns, streamline your recovery efforts, and maximize ROI on retired assets.

Suhaib K.

ITAD specialist

Unduit News

April 27, 2023

Unduit Achieves SOC 2 Type 1 Certification: Our Commitment to Your Data Security

At Unduit, we understand that handling client data and devices comes with great responsibility. That's why we proudly announce that we have achieved SOC 2 Type 1 certification in record time, under two months from start to finish. This certification validates our commitment to ensuring the security, availability, and confidentiality of our customers’ data. What is SOC 2? SOC 2 is an auditing procedure designed to evaluate a service organization's ability to protect customer data and privacy. The SOC 2 Type 1 report validates that Unduit has the necessary controls and procedures in place to ensure the security, availability, confidentiality, and processing integrity of our customers' data. Privacy – We believe in safeguarding our customers' data privacy as it is our number one priority. The SOC 2 certification ensures we utilize the necessary controls to protect your data privacy. Security – Security is at the forefront of our minds. The SOC 2 certification ensures that we are following the best practices to maintain the confidentiality, integrity, and availability of your data. Availability – We understand the importance of data availability, especially in the event of an unexpected incident. The SOC 2 certification ensures that our data centers and systems are continuously available. Confidentiality – The confidentiality of our customers' data is of utmost importance to us. The SOC 2 certification validates that we have the necessary controls in place to prevent unauthorized disclosure of your data. Processing Integrity – We are committed to ensuring our processes are accurate and complete. The SOC 2 certification ensures that we have the necessary controls in place to maintain the integrity of our processes. Our Commitment to Compliance Unduit is committed to complying with the highest standards of regulatory compliance. Our team of experts is well-versed in various compliance requirements, including HIPAA, GDPR, and PCI DSS, among others. As we operate in multiple countries, we take pride in our ability to navigate complex regulatory environments with ease, providing our customers with the highest level of security and compliance. In conclusion, we are pleased to have achieved SOC 2 Type 1 certification, and we remain committed to maintaining the highest level of security controls to ensure the safety of our customers' data. Our journey toward SOC 2 Type II certification and other regulatory compliance requirements is ongoing, and we look forward to sharing our progress with you.

Suhaib K.

ITAD specialist

ITAD

February 20, 2023

IT Asset Disposition (ITAD): The Ultimate Guide

What is IT Asset Disposition (ITAD) IT Asset Disposition (ITAD) refers to the process of disposing of or reallocating outdated, end-of-life, or otherwise unwanted technology and electronic equipment. ITAD aims to ensure that the retired asset is disposed of in a safe, secure, and responsible manner that protects the sensitive data of corporates. It complies with environmental regulations and maximizes the value of the equipment. Organizations can either perform ITAD themselves or outsource it to specialized ITAD service providers. What's Covered by ITAD Companies IT asset disposition companies typically offer the following services: Data destruction: Secure data erasure or physical destruction of hard drives to prevent data breaches. Equipment refurbishment: Repair and upgrade computer equipment to extend its lifespan and maximize its value. Resale: Sale of refurbished equipment to generate revenue and reduce waste. Recycling: Responsible asset disposal that cannot be refurbished or resold, in compliance with all relevant environmental regulations. Reporting: Comprehensive reporting on the disposition of equipment, including the amount of equipment, recycled, the amount of equipment resold, and the amount of waste generated.   Types of Devices ITAD providers handle a variety of technology devices such as data center equipment, endpoint devices, printers, copiers, and point-of-sale systems.  Data center equipment is complex and valuable and requires strict protocols for data destruction and decommissioning. ITAD providers work with data center operators to ensure secure data erasure and maximize equipment value through resale or recycling.  Endpoint devices, including laptops and mobile devices, are commonly disposed of, and ITAD providers offer services like secure data erasure and responsible recycling. These devices may be refurbished and resold or safely disposed of. ITAD providers also handle other types of hardware, which may contain sensitive data or hazardous materials, and offer data destruction, responsible recycling, and chain of custody documentation to ensure environmentally friendly and secure disposal.   Importance of Asset Disposal Policy Having a clear and comprehensive ITAD policy in place is critical for organizations of all sizes. The policy should define the processes and procedures for disposing of technology assets and should take into account the following: Data security: Procedures should be in place to securely erase or destroy any data stored on the equipment to prevent unauthorized access or data breaches. Environmental regulations: The policy should ensure that equipment is disposed of in a manner that complies with all relevant environmental regulations, such as the Electronic Waste Recycling Act in the United States. Maximizing value: The policy should aim to maximize the value of the equipment, either through reuse, resale, or recycling.   Choosing an ITAD Provider When choosing an ITAD provider, it's important to consider a few factors so that you exactly get what you're expecting from the asset disposition service Data security: Ensure that the provider has secure data destruction processes in place to prevent data breaches. Environmental compliance: The provider should have processes in place to ensure that equipment is disposed of in an environmentally responsible manner. Certifications: The provider should have certifications such as ISO 14001 for environmental management, and R2 for responsible electronics recycling. Reporting and transparency: The provider should provide clear and comprehensive reporting on the disposition of your equipment, including the amount of equipment recycled, the amount of equipment resold, and the amount of waste generated. Service offerings: Different ITAD service providers may offer different services, such as data destruction, equipment refurbishment, and resale. Choose a provider that offers the services that best meet your needs.   Frequently Asked Questions Why is IT necessary to dispose of the assets? Proper asset management is crucial for value recovery and improving productivity. By disposing of retired IT assets timely, organizations can mitigate security risks, reduce environmental impact, and free up storage space. ITAD providers can assess the value of old or unused equipment and refurbish or resell it to help organizations recoup some of their initial investment and reduce the total cost of ownership for their technology assets. What is the size of the IT asset disposition market? ITAD industry has been growing rapidly. MarketsandMarkets.com projects that the IT asset disposition market will increase in value from USD 15.5 billion in 2022 to USD 23.5 billion by 2027, indicating a compound annual growth rate of 8.7% during that period. What is the IT Asset Disposition Process? IT Asset Disposition process is simply a set of practices designed to manage the secure and environmentally-friendly disposal of technology assets that are no longer needed or have reached the end of their lifecycle. This process involves determining the value of an electronic device, securely erasing data, and disposing of the hardware in an eco-friendly way. Do ITAD vendors handle Asset Tracking and Asset Recovery? ITAD Solution providers typically offer asset tracking and asset recovery services. Asset tracking involves monitoring and recording the movement of IT assets throughout their lifecycle, from acquisition to disposal. This ensures that the location and status of IT assets are known at all times, allowing for better inventory management and the ability to track asset depreciation. Check this detailed guide to learn more about IT Asset Recovery. What are the core steps to dispose of  EOL IT assets successfully? An ITAD company must comply with strict protocols to ensure data destruction service is comprehensive and secure, whether it's a small PC or large-scale data center decommissioning. The process involves physically destroying the hard drives, rendering data irretrievable. Shredding, crushing, or disassembling hard drives is common, and the destruction process is documented and certified to ensure compliance with data protection regulations.  The minimal steps any finance department should take for End Of Life (EOL) IT assets management: Implement policies for ITAD Security preferably according to the General Data Protection Regulation (GDPR) and their own local data protection laws. This ensures that the disposed of asset does not become a liability in the future for the organization. Prepare a checklist for functionality tests for all computing equipment present. This sets a grading system that can be used to categorize assets into three different ITAD subgroups: Reuse: this category does not only hold the whole asset into account rather parts of the asset can also be reused by the organization if need be. Like monitors, mice, keyboards, hard drives, RAM, and more. Salvage: should only be conducted with proper erasure software implantation first and then all salvaged parts should be sold off to invest in the replacement equipment. Dispose/recycle: Dispose of all assets using ITAD professionals to rule out all liability issues and breaching of national laws. If done using organizational resources, then the Basel Convention policies should be used to make sure that the e-waste is managed properly. After functionality assessment of the asset, reevaluate the comparative cost effectiveness by placing the asset in all three functional categories. This ensures whether over time the asset would yield more profit if reused, cost of parts salvaged would yield greater profit or disposal/recycling would be most cost effective.   How can hard drive destruction be done compliantly and securely to ensure complete data removal? An ITAD company must comply with strict protocols to ensure data destruction service is comprehensive and secure, whether it's a small PC or large-scale data center decommissioning. The process involves physically destroying the hard drives, rendering data irretrievable. Shredding, crushing, or disassembling hard drives is common, and the destruction process is documented and certified to ensure compliance with data protection regulations.  What is the residual value of old IT assets, and how can we recover some of the initial investment? An ITAD vendor can better assess the value of a device and determine if it is worth refurbishing or reselling. By reselling the old equipment, organizations can recoup some of their investment, reducing the total cost of ownership (TCO) for their technology assets. How can we choose a reliable and trustworthy ITAD provider that will adhere to industry standards and regulations? When choosing an ITAD provider, it's important to look for one that offers comprehensive data destruction services to minimize the risk of a data breach. You'll also want to ensure that the provider adheres to all relevant industry standards and regulations for e waste recycling and disposal, as well as risk management practices. Also look for certifications, and a strong track record of secure asset disposition services, including proper data destruction and environmentally-responsible recycling practices. Moreover, to ensure the best ITAD process, consider the company's ability to offer customized solutions and a software platform.

Suhaib K.

ITAD specialist

ITAD

July 14, 2022

What is the ITAD strategy for companies working remotely and how Unduit can help them?

When the calf is separated from the herd, it becomes vulnerable and an easy prey for the pack. IT based companies are forced to send employees home to work remotely because of the pandemic and it has left many IT herds vulnerable to the cybercrime pack. Is fear and hopelessness the only remaining option for these herds? No. With a solid ITAD strategy and services like Unduit, even with the herd scattered there is no need to fear. Organizations looking to secure themselves from cybercrime dangers must not only have a strong firewall but also a complete and efficient ITAD strategy. Some of the important parts of a great ITAD strategy are: Central Control Body: A specific department should be dedicated to handle all cybersecurity risk and ITAD processes. They should also classify the types of data that should be available departmentally and for how long the data should be available for. Then GDPR guidelines should be used to erase the data from the individual databases to avoid any liability issues. Company Asset Register: A register of all devices that are owned by the company and devices being used to access data remotely by employees should be made, authenticated and centralized. This will make sure that if any breach is attempted or made then the source can be tracked. Single Secure Cloud: Pick only one cloud provider that has a secure access point to help your organization be centralized and efficient when it comes to employees working remotely. This will help you manage both security risks and data flow easily through one single platform. Sanitize Old Equipment: Once devices that have been used whether remotely or within the organization, sanitize them according to GDPR guidelines or US state specific guidelines. Maintenance: Devices and equipment must be remotely maintained and have regular security and software updates to keep malware and other liability issues at bay. Proper guidelines must be followed. General Security Plan: a data security plan and policy must be in place that everyone in the organization must follow as a basic company protocol. If these steps are followed correctly the herd is secure from predators waiting to feast but even the strongest of herds fall prey to them except those that are led by a shepherd. Unduit is one such shepherd that is leading the way in ITAD and is a one stop solution for all your organization’s mobility needs. Unduit can retrieve, aggregate, and responsibly dispose of assets from various users and reduce downtime drastically to improve device availability. All devices being refreshed would be available in weeks rather than months. With the enormous ecosystem of apps in the unduit platform all your ITAD issues can be addressed from a single source without having the need to search for multiple vendors. Unduit will do it all.

Lydia Adams

ITAD specialist

ITAD

June 24, 2022

Maximize value on your IT assets ready to be disposed of!

We begin by diving right into understanding a policy by the International Accounting Standards (IAS), IAS-16. This policy outlines the accounting treatment for most types of property, plants, and equipment. The cost of the assets initially measured include all costs necessary to bring the asset into working condition for the intended use. The initial measurement includes the original price and the cost of site preparation, delivery and handling, installation, related professional fees for architects and engineers, the estimated cost of dismantling and removing the asset, and restoring the site. Then a subsequent measurement is performed either using a cost or revaluation model. After the measurements of cost are evaluated, the cost of the asset is depreciated so that the depreciable amount is allocated on a systematic basis over its useful life. Depreciation of a fixed asset should be started when the asset is ready for use, according to IAS-16. In simplified terms the standard for maximizing profit on IT assets ready to be disposed of is asset assessment, revaluation, and asset cost depreciation. The quick lesson on accounting was necessary to explain because disposing of old assets is not the same as selling a packaged good because your company or organization is accountable for its own profit. Whether that asset is a building or an IT asset like a desktop computer this standard is a go to for anyone reevaluating the cost of a fixed asset. A fixed asset can be land, office building, machinery, cars, computers, tables, and others related. Furthermore, taking the same standard into account depreciation of the original cost of your IT asset is not always going to end you up with less revenue because the assessment and revaluation comes before that. A hypothetical scenario would be an IT organization disposing of its core i3 desktops. Almost all core i3 desktops have a decent graphics card and in 2021 those are bought like cheap ice cream on a hot day. If the organization is looking to sell the full desktop, they will not be able to maximize on the asset because if parted out then each part can be of more value than the whole desktop combined. Graphics cards are used to set up GPUs to mine crypto currency, which is another way of maximizing on your IT asset by assessing your asset’s use in other ways to make profit rather than disposing it completely. For instance if the IT asset is not advised to be parted out or sold due to cyber security reasons, even then the organization has the option of using data erasers and data destruction processes to render the security threat 99% deflected and then sell the asset as they please. Such companies that offer these data eraser and data destruction processes offer to sell the assets for them too using the same standard of assessment, revaluation, and cost depreciation to make profit off the disposed goods and charge for their services minus the depreciated cost of the asset that was sold. Making a profit for themselves off the disposed goods and simultaneously charging the client for their services. An organization should use data eraser/destruction services these days (due to cyber security threats at its peak) to make disposing of assets risk free but they should sell the asset off themselves to maximize profit.

Lydia Adams

ITAD specialist

Data Erasure

June 24, 2022

Drive compliance by moving your asset erasure logs to the cloud!

The purpose of logging data is to comply with the regulatory structures such as the GDPR. Logging enables the organization to monitor and audit internal processing within any automated processing system being used. Erasure logging is a necessity for any IT based organization and is only a benefit for it. Once an asset has been erased there is next to no chance for the data to be recovered which would leave you nowhere if data that has been destroyed comes back to haunt you due to a breach prior to the erasure process or a faulty erasure process. This is where erasure logging will come in handy to audit and find the root of the problem and then manage it accordingly. Erasure logging is not a new process that IT companies follow to make sure data is secure, but the pandemic has brought new challenges to this process. Remote workers access organization databases through weak security network channels each day and magnify the cybersecurity threat. Data that is deleted on site or remotely is a lability and companies must manage all assets being used. Assets on site go through the erasure process and logging easily but when it comes to remote workers it takes time and vigilance because the data being encrypted at the time of the erasure process is vulnerable. Having a secure cloud would help your ITAD team drive compliance with GDPR and other regulation policies by moving all your erasure logs to it. The erasure logs on cloud would enable them to easily encrypt all data being used at a single point and make them available at any given time. This would not only free up data space on your asset but also set a single point of access and security. The organization's compliance for any internal and external audit would be a few clicks away.

Lydia Adams

ITAD specialist

ITAD

August 26, 2021

Step by step guide for companies to dispose of their EOL IT assets successfully!

When you have children, you plan for their future like a responsible parent and the consequences of not doing so could put your own flesh and blood at risk. For IT companies their assets are the same. IT assets have a life cycle of their own and must be managed accordingly for the company to not be at risk of any security or financial issues. This IT asset life cycle has stages just like a growing individual from birth to senility to the inevitable grave. The stages of IT asset management are planning, procurement, deployment, usage, upgrade, decommission, salvage and disposition. Our focus will be on the retirement and funeral management of these machines that work tirelessly for their organizations. All retirement homes and funerals are costly but that is not the same when it comes to IT assets because if the process is managed correctly that obsolete asset can give you returns or even profit. When cost effectiveness is required the finance department of an organization steps forward to bank, invest and ensure that it is achieved. An effective process for IT Asset Disposition (ITAD) would end up with some return. The minimal steps any finance department should take for End Of Life (EOL) IT assets management: Implement policies for ITAD Security preferably according to the General Data Protection Regulation (GDPR) and their own local data protection laws. This ensures that the disposed asset does not become a liability in the future for the organization. Prepare a checklist for functionality tests for all computing equipment present. This sets a grading system that can be used to categorize assets into three different ITAD subgroups: Reuse: this category does not only hold the whole asset into account rather parts of the asset can also be reused by the organization if need be. Like monitors, mice, keyboards, hard-drives, RAM and more. Salvage: should only be conducted with proper erasure software implantation first and then all salvaged parts should be sold off to invest into the replacement equipment. Dispose/recycle: Dispose of all assets using ITAD professionals to rule out all liability issues and breaching of national laws. If done using organizational resources, then the Basel Convention policies should be used to make sure that the e-waste is managed properly. After functionality assessment of the asset, reevaluate the comparative cost effectiveness by placing the asset in all three functional categories. This ensures whether over time the asset would yield more profit if reused, cost of parts salvaged would yield greater profit or disposal/recycling would be most cost effective. If disposal is the outcome of the functionality test, then the finance department should broker a deal with a single ITAD company to deal with all types of data disposals whether it being hardware or software. This will ensure that if any security breach occurs the organization would hold one ITAD company responsible rather than multiple. A long-term solution would be to set up an ITAD department for the organization to make the process of EOL IT asset management even more cost effective and potentially profitable. Learn more about IT Asset Disposition in our comprehensive ITAD Guide

Lydia Adams

ITAD specialist

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