IT Asset Disposition: Risks And Best Practices You Must Know

As the world further enters the digital age, businesses must include in their long-term plans the impact of acquiring numerous electronics and how they will dispose of them later on. Responsible asset disposition is an essential aspect of organisational updates, especially since consumers today have become increasingly mindful of the ethical practices of enterprises, specifically those that relate to the environment and society.

If you are a business owner who endeavours to make corporate social responsibility (CSR) an aspect of your business practices, then you should come up with a solid plan for disposing of your IT equipment. This is where the importance of responsible asset disposal with the help of outsourced IT support in Singapore comes in. Understanding what proper IT asset disposition is can help you manage and enhance this process within your own organisation. Read on to understand more about IT asset disposition.

 

What is IT asset disposition?

IT asset disposition is basically the process of planning, evaluating, and implementing the ideal disposal and decommissioning methods for IT assets while simultaneously maintaining a specific level of data security to provide your company information with adequate protection. During this process, IT personnel and outsourced IT consulting firms in Singapore may consider environmental and regulatory requirements, financial and legal factors, and compliance. 

Although there are several options when it comes to identifying the best way to dispose of IT assets, including donation, resale, or recycling, an effective business practice dictates that you should choose those disposal solutions that give you the greatest value in proportion to the cost. Furthermore, it is important to document every planned disposal your company makes while ensuring the safety of your team members and the protection of the environment.

 

The risks of improper IT asset disposition

Proper disposal of your IT assets is important because it helps your company comply with its CSR. Aside from this, your business is able to steer clear of a number of risks that come with an improper and irresponsible disposal of IT hardware, software, and other materials. Among these risks are the following:

• Security-related risks: Improper and irresponsible disposal of IT assets may result in different security risks, such as exposure to viruses and loss of personal data. For instance, when you do not properly dispose of your IT equipment and software, you may receive unwanted phone calls and emails from individuals who steal personal information. This can then lead to monetary loss, time loss, and even legal problems.

• Negative public relations issues: It is important to dispose of your IT assets properly because it can help you maintain positive public relations, specifically with respect to environmental sustainability. For instance, you may come up with a plan to safely retire hazardous materials so that they do not end up affecting natural habitats, wildlife, and the environment in general.

 

Best practices for responsible IT asset disposition

IT asset disposition is integral to business because IT assets do not last forever. Over time, they tend to become more expensive to maintain, thereby acting as a financial burden to the company. There are different reasons why your business might soon require letting go of its IT assets. Perhaps you are upgrading to more recent hardware, conducting a technology refresh, or simply clearing up significant physical space occupied by old equipment.

Whatever your reason is for disposing of your IT assets, it is necessary that you observe proper and responsible IT asset disposition practices, as they will bring crucial benefits to your organisation. Here are some of the best IT asset disposition practices you should adopt in your business:

• Form an IT asset disposition team to perform an audit of assets: One way to ensure proper disposal of your IT assets is to create a specific team consisting of stakeholders from various departments to take charge of the inventory of your IT equipment. The inventory must list down business and data centre equipment, such as storage equipment and servers, as well as employee devices like desktops and laptops. You should include in your report the dates when these devices were acquired, their end-of-life dates, and possible timelines for equipment replacement or upgrade.

• Create an extensive IT asset disposition policy: When creating your IT asset disposition policy, data governance must be at its foundation, regardless of the stage where the device is in its IT lifecycle. For instance, your policy should specify where disposed hardware must be stored, when employee login credentials are required to be removed from the system, and how data erasure must be carried out, among others. The IT asset disposition plan should also consider regulatory laws that pertain to the asset disposition procedure that is specific to your industry.

• Explore IT asset disposition services: Although having a detailed IT asset inventory and an extensive IT asset disposition policy is a good start, the actual implementation of responsible IT asset disposal is best left to the expertise of IT asset disposition specialists. This is where the significance of third-party providers offering IT services comes in. The services offered by these third-party providers usually include proper IT asset disposition, where they analyse your disposable assets and make suggestions on which of them are suitable for recycling, repurposing, or disposal.

 

Conclusion

Because IT equipment and materials rarely last forever, IT asset disposition has become an essential aspect of business updates that must be done properly and responsibly. When you properly dispose of your IT assets, you can avoid a number of security risks and public relations problems that come with irresponsible asset disposal. Among the best things you can do to ensure proper and responsible IT asset disposition are to form a team specifically intended to conduct an IT asset audit, create a comprehensive asset disposal policy, and avail of professional IT asset disposition services.

For the most efficient and reliable IT asset disposition service to help you safely and securely dispose of your end-of-life IT equipment, JK Tech is the expert you should partner with! JK Tech is an established IT solution-sourcing centre that offers a wide range of excellent products and services, spanning from IT asset disposition and IT consultancy to Device-as-a-Service (DaaS) and laptop rental in Singapore. For more information on our high-quality offers, please do not hesitate to get in touch with us anytime.