Data security is a critical concern, yet many companies don’t have a thorough policy to properly destroy data at the end of the IT asset lifecycle, which is a lurking problem.
Last year, the average total cost of a data breach was $3.62 million – or $141 per lost or stolen record, according to Ponemon Institute. Many companies often focus their concern on potential fines. However, the largest financial impact comes from the cost of cleaning up after a data breach and the loss of customer confidence that results in reduced revenue.
IDC forecasts that the global datasphere will grow ten-fold to 163 zettabytes (or a trillion gigabytes) by 2025. Our use of storage is growing exponentially, and with it, so are the risks and potential financial losses.
Data security is always among the highest priorities for any company. However, what happens to technology assets at the end of its life is rarely at the top of the list. Often customers’ specifications for large-scale refresh projects contain literally hundreds of pages of requirements around new equipment and then, at the very end, a single statement saying, “All legacy equipment being replaced must be disposed of in a secure and environmentally friendly manner.”
At the other end of the scale are companies obsessed with data security. They demand services where the security level is appropriate for the handling of highly sensitive government data when, in reality, the data could at worst disclose information readily available on the internet.
There’s much to consider. Should data be destroyed at your own site, or is it OK to do it at the ITAD provider’s site? If you are shipping equipment, what level of logistics services do you need?
Three considerations include:
Then there’s the question of which data destruction methods to use. Various data destruction methods have varying levels of security and cost.
Options include: A single-pass or multiple-pass data wipe: drives can be reused and provide a residual value return
What’s important to understand is that one size does not fit all when it comes to IT disposal. What suits one company may not suit another, and there is a good chance that different business units within the same company will have different needs.
Allow Dpoz-IT to offer you choice relative to your Asset disposition needs.
Some say that physically destroying hard drives at your own site is always the best option. For very highly sensitive data, it may be. But this isn’t always the case.
Note: On-site shredding guarantees security only if you watch every single hard drive go into the shredder yourself.
Since it can be expensive to shred hard drives at customer sites, companies often stockpile large numbers of drives to be shredded at once to cut cost. However, the longer you keep data around, the more chance there is of something getting lost or someone stealing it. It’s likely safer to choose an alternative data destruction method if it reduces the time the data remains on the drives.
Dspoz-IT began with one mission in mind. Our mission is to take the guess work out of the disposition of your IT Assets. We provide timely and critical information regarding the Disposition of Information Technology Assets to companies Domestically and Internationally.
Your IT Equipment; including laptops, desktops, your mobile devices monitors, televisions, phone systems and cell phones will be managed in an environmentally friendly way.
Computers, printers, fax machines, cell phones and other electronic equipment contain a wealth of data.
Laws such as the Gramm-Leach Bliley Act, Sarbanes-Oxley Act, Health Insurance Portability and Accountability Act, and the Fair and Accurate Credit Transactions Act hold companies and organizations responsible for protecting the information about their customers and employees.
Dspoz-IT and its Environmentally Friendly Partnerships are teamed together to bring our customers the #1 IT Asset Disposition & E-Waste Technology Services Globally.
Removing the Risk out of your business One Pickup at a Time….Call us Today (855-377-6948)
Dspoz-IT; an e-Steward Certified & R2 Trusted Supply Chain Partner..
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121 Newark Avenue, Suite 538 Jersey City, NJ 07302
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On a global basis, of the 50 million tons of e-waste that is generated annually, approximately 85 percent will end up in landfills.
e-Waste is the fastest growing waste stream in the world.
IT Asset Disposition (ITAD) Market Expected to Reach US$ 18.18 Bn by 2024: Transparency Market Research
According to a new market report published by Transparency Market Research entitled "IT Asset Disposition Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024," the ITAD market is expected to reach a value of US$ 18.18 Bn by 2024, rising from US$ 9.89 Bn in 2015. The market is estimated to expand at a CAGR of 7.1% during the forecast period from 2016 to 2024.
Rapid changes in technology have resulted in the reduction of the life cycle of IT equipment. Organizations need to upgrade equipment to remain competitive in the market, resulting in the generation of large amounts of discarded IT assets, worldwide. ITAD (IT Asset Disposition ) ensures safe disposal of these assets. This is one of the key factors driving the ITAD market globally. Another important factor fueling the market's growth is the growing demand for used computers, mobile devices, and other electronic equipment from educational institutions, small-scale enterprises, and individual customers, as this equipment is readily available at low prices.
Among the asset types in ITAD market, the computers/laptops segment had largest market share, with around 30% of the overall market in 2015. Until now, computers have formed a major chunk of IT equipment being recycled and refurbished. Among the end-use segments, telecom and IT occupied around 42% of the global ITAD market in 2015.