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Asset Retirement Update
How to choose a partner for retiring unwanted technology assets
Outsourcing the disposal of computers and other electronic assets can help you mitigate significant environmental and data security risks. When selecting an asset retirement partner, you should undertake the following five steps:
- Evaluate Your Existing Asset Retirement Process and Goals
- Conduct Due Diligence On Potential Vendors
- Consider Methods and Risks of Data Destruction
- Evaluate Environmental Stewardship
- Assess Reporting and Tracking Capabilities
In the final analysis, you need to select an asset retirement partner that you can trust in order to mitigate risk, ensure regulatory compliance, and enable your organization to focus on its core competencies. Read on for more detail about what to consider when evaluating partners to handle your company’s IT asset retirement.
Straight Talk
Beware of vendors who promise to take your equipment for little or no cost. If they claim to offer “free” asset retirement, how likely are they to comply with complex environmental protection and data privacy regulations? If your equipment is improperly disposed of, it may come back to haunt you in the form of fines, clean-up costs, and negative publicity. Make sure that you maintain accurate records documenting compliance - including details addressing environmental and data privacy regulations.
Featured Client
Oppenheimer Funds, a Colorado-based mutual fund company with 1,300 employees, needed help in order to reduce potential environmental liability and ensure compliance with information privacy laws. LifeSpan implemented a comprehensive asset retirement program that: 1) Reduced Oppenheimer’s data security and environmental compliance risks 2) Monitored/reduced costs, and 3) Simplified the entire asset disposal process. LifeSpan executed recycling, data destruction, and shredding of storage media on-time and on-budget. In addition, Oppenheimer received detailed monthly reports that documented the current status and ultimate disposition of each asset.
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IT/MIS professionals - Reduce your effort and costs in managing asset retirement programs |
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Investment recovery managers - Minimize your total cost of ownership |
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Purchasing managers - Cost-effectively remove old equipment so that new equipment can be deployed |
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Compliance officers - Reduce risk and potential liability by securing sensitive data and disposing of equipment in an environmentally-safe manner |
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Large Distributed Enterprises |
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Systems Integrators |
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Technology OEM’s |
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Municipalities |
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Not-For-Profit Organizations |
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