Now that it’s time for your organization to retire technology assets, you’re probably looking for a solution to destroy data, resell equipment and responsibly dispose of retired electronic devices. Before selecting multiple vendors to manage these processes it’s important to carefully asses your organization’s goals to ensure you’re covering all of your company’s legal and security requirements. Last year, worldwide data security incidents increased 66 percent (CAGR) 1 with a consolidated average of $145 for each record viewed, used or stolen during a breach2. Without a formal process of vetting a company you may find yourself working with partners that may only partially meet your organization’s data security and IT asset disposition needs.
Dealing with more than one company for your IT asset disposition can risk poor coordination across all functions, and lack the accountability and protection of your electronic devices. IT assets are commonly transported to a certified facility, but there lies the potential for assets to be lost or stolen in transit. In the United Kingdom alone, 70 reported cargo crimes occurred in the first quarter of 20153. Multiple vendors can divide the responsibilities for retiring technology assets, but you may find yourself in deep waters if any vendor mismanages your IT assets and/or creates inventory tracking issues.
With data security as the number one reason why companies implement an IT asset disposition (ITAD) program4, it only means the need for holistic ITAD management has never been more critical. It is essential for organizations to work with a single ITAD vendor who takes data security as seriously as they do. Most companies find it suitable to deal with a single vendor to handle their surplus and obsolete equipment. By working with one vendor they are able to minimize administrative challenges and assure full accountability, including paperwork, streamlined processing, and timely settlements.
An ideal situation would be for a credible company to handle all aspects of the disposition of IT equipment. Especially after the rebranding of Sims Lifecycle Services (SLS) and S3 Interactive (S3I) to Sims Recycling Solutions, this company is one of the few who can accommodate a complete service like this from beginning to end. While there are several other comparable vendors, this ITAD industry leader is known for their strong footprint, service delivery and quality of execution.
It is important to protect your company from multi-vendor risks by choosing one vendor that not only provides data destruction processes, but also offers secure and efficient logistics. Vendor selection starts with asking the right questions to ensure data security mandates, responsible disposition and compliance requirements align with your corporate needs.