Oct 16, 2019
ITAD is a term that many people have never heard of, but it is an integral part of the electronics recycling industry. ITAD stands for Information Technology Asset Disposition, and, while it may seem complicated, it is essentially an umbrella term for 5 activities. ITAD incorporates all the logistics involved in taking all of the obsolete electronics from your company and getting them to the recycling plant safely and efficiently.
Data destruction is the second component, which involves destroying all of the company’s data via a verified process, while asset auditing comprises the assessment of the electronics, in terms of their market value as well as their viability.
The fourth component involves resale, which consists of restoring as well as reselling company electronics that have value on the free market, while the final component is recycling, which, as the name implies, involves discarding any remaining items safely and ethically in order to minimize the negative effects the parts may have on the environment. Now that you’re aware of what ITAD is, we will delve into why it is so important.
According to a report published by Transparency Market Research, the ITAD market will grow from approximately $10 billion US in 2015 to almost $20 billion US by the year 2024. The report also claimed that North America would serve as one of the largest growth areas for ITAD because of its very high adoption rate of state of the art Cloud-based services.
While cloud migration enjoys a high adoption rate for a myriad of reasons, one of the primary reasons why it has grown in popularity is due to the operational cost and acquisition savings opportunities that it offers.
Moreover, while ITAD tends to be discussed in great detail at multinational conglomerates that have a plethora of resources, as well as dedicated departments that are dedicated to ITAD practices, even smaller companies will benefit from incorporating ITAD into their business model because it is a highly viable and lucrative security concept.
However, in order for ITAD to be effective, a secure chain of custody must be enforced whereby a responsible, reputable, and certified recycling enterprise picks up all of the items, wipes clean all of their associated data files, refurbishes eligible items, and subsequently recycles any leftover components that cannot be salvaged or refurbished.
It should also be noted that the IT industry is in a constant state of perpetual flux, and the fact that there has been a greater emphasis on the Internet of Things, as well as big data and cloud computing, will lead to an increase in the amount of waste being generated annually. Thus, the demand for ITAD services will only increase with time as more and more waste products are generated by the IT industry.
Now that you are aware of the importance of ITAD, you may we wondering where you can find a reputable ITAD company that will have your best interests at heart. Unfortunately, finding a proper recycling company that places the needs of their clients over profits can prove difficult, depending on where your company is located.
The good news is there are a few things that you should look for in a prospective ITAD company that can make your selection a lot easier. For instance, they must have a bevy of industry certifications under their belt and a great reputation when it comes to ethical protocols and standards.
They must also be able to demonstrate a full-service mentality, with actionable results, before you partner with them. After all, the company that you choose will be handling your private company data, which is something that you should never take lightly. That is, with the recent rise in cybercrime, you will want to partner with an honest, transparent, and reliable ITAD company that will efficiently destroy all pertinent company data so that it is impossible for the data to be recovered by cybercriminals or competing firms.
In sum, the company that you choose must be able to provide all of the umbrella services that we have discussed in this article under one roof. Some companies make the mistake of outsourcing their needs to multiple vendors or providers, meaning they will pay one company to, say, wipe their hard drive, and another to purchase their most valuable electronics.
Unfortunately, such an approach can cause headaches and unwanted hassles, and will also end up costing you more, as each vendor will demand a bigger margin for a smaller task. Also, going with just one vendor for all of your ITAD needs will provide you with more bargaining power when it comes time to discuss the terms of the agreement, which may lead to lower costs in the end.
If you are still having trouble with determining which company to go with then consider the checklist below. If you have bulk inventory that you will need to replace asap then going with a decommissioning service may be your best option. However, if you are having trouble determining which service to go with, then check to see if the prospective provider offers on-site drive erasure and pick-up services for convenience.
Ideally, they should also offer on-site decommissioning, palletizing, and packing services, as well as expedited processing and free shipping insurance. Moreover, they should offer stalwart electronic recycling services and an open chain of communication. Additional assets that are also nice to have, particularly if you are dealing with very sensitive IT data, are R2/E-stewards certifications and highly trained and dedicated ITAD technicians.
e-Cycle: A Global ITAD Enterprise
To learn more about ITAD, call eCycle at 1-877-215-5255 or contact us here.
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