According to a recent study, 37% of IT asset managers recognized cost as the main reason they hadn’t adopted IT asset disposition for their business. The truth is, businesses can actually MAKE money from an IT asset disposition (ITAD) plan. ITAD creates revenue from equipment liquidation by retiring your decommissioned hardware & technology assets with a certified vendor. Most businesses can expect the largest return on investment before the remaining value diminishes – usually 3-5 years from when it was first purchased. Follow our 6-step guide below to making money from your IT assets.
Step 1: Make an Inventory List
The first step in generating revenue with an IT asset disposition plan is to list and describe every piece of equipment you’re looking to liquidate. Get as detailed as possible with counts and specifics of each item you have for disposal. Most ITAD vendors such as We Buy Used IT Equipment will have a form on the website to help list your products or an option to send an excel spreadsheet. Always remember to provide vital information such as:
· Make and model
· Type of processor
· Processor speed
· Hard drive specifications.
Providing the most detailed information can help get a top dollar offer for the equipment.
Step 2: Find a Reputable ITAD Vendor
In order to capitalize on the ROI from your used or surplus IT assets use a vendor with minimal logistics costs. Whether you’re looking to liquidate items such as hard drives, servers, data tapes, VoIP, or other IT equipment, the primary goal is the same. It is imperative to evaluate the offer that the vendor provides before committing. Some vendors have inefficient logistical systems in place, meaning you could pay too much. These logistic errors end up on your invoice as a logistics fee.
You can maximize your ROI on IT assets if you look for an ITAD vendor with low expenses, such as logistics and handling fees. We Buy Used IT Equipment has earned one of the most respected reputations in the IT asset industry by making customer service and data security a top priority for over 50 years. Since 1965, We Buy Used IT Equipment has guaranteed the best offers along with FREE quotes and FREE secure logistics handling. This translates into higher return on investment for businesses.
Step 3: Don’t Wait Until It’s Too Late
A study conducted in 2015 found that businesses that implemented a 3-4 year ITAD plan reported an average saving of 27.4%. Make sure to liquidate IT assets before they become worthless. Timing is critical when it comes to liquidating assets in order to generate revenue for your company. IT equipment quickly decreases in value, exclusively three years after purchase when replacement models begin to enter the market. Most successful companies generate some positive ROI from IT assets by sustaining a consistent 3-4-year ITAD plan. A 3-4 year ITAD plan with a vendor like We Buy Used IT Equipment permits for the turnover of recyclable equipment that will normally see most (if not all) IT asset disposition expenses covered.
Step 4: Secure Your Data
When attempting to liquidate assets to generate revenue, one of the worst scenarios is becoming exposed to liability of data loss. Losing data embedded in your IT assets, whether leaked or stolen, can cost you enormous amounts of money to recover. The average cost of a single lost or stolen data record is as high as $158, with the total cost of a corporate data breach tipping $4 million as of 2016.
Today’s technological advances in equipment has created a data surge with storage on equipment you normally wouldn’t think about. Even some copy machines have hard drives in them and networking equipment can hold a lot of rooted data.
Scary enough, many IT asset managers fail to understand that responsibility for data security remains long after an IT asset is disposed of. If a security breach is discovered, investigators will not only come after the company that collected the data, but the IT asset disposition firm as well.
Therefore, when choosing an ITAD vendor, partner with a well-established ITAD firm that is certified to properly destroy all of the data on your devices. We Buy Used IT Equipment has a policy in place to ensure that liability associated with your IT assets – data security, environmental compliance or brand exposure – is addressed. In over 50 years of business and with hundreds of thousands of assets liquidated, We Buy Used IT Equipment has never had one data breach. Since 1965, data security has been of number one importance with all clients.
Step 5: Avoid Environmental Penalties
Illegal disposal of IT assets is beginning to gain the interest of industry regulators resulting in huge fines. For example, in December 2015, Comcast was fined $26 million by the government of California for unlawfully disposing of electronics – a violation AT&T was also accused of in 2014 costing the company over $23 million. According to the Comprehensive Environmental Response, Compensation and Liability Act of 1980, companies are responsible for the recycling processes of their retired IT assets. Companies can avoid environmental penalties by ensuring proper, certified disposal of your IT assets with a certified ITAD vendor. We Buy Used IT Equipment has the environmental compliance status required to safely and legally recycle your IT equipment.
Step 6: Generate Revenue
Used, surplus, and obsolete IT equipment is more than commonplace litter. IT assets carry vast areas of vulnerability for businesses, but a budding advantage as well. Executed correctly, with a qualified, reputable ITAD provider, companies can generate revenue. IT asset disposition has the potential to return concrete value to any organization. We Buy Used IT Equipment will help any business avoid costly penalties, help save the environment, and ensure 100% data security. On top of that, a higher ROI will be discovered, as opposed to dumping equipment at the nearest recycling center.
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