Technology vendors continue their race to innovate. And businesses are increasingly willing to invest heavily in the latest solutions in order to achieve a competitive edge. As a result, organizations of all sizes are retiring their IT assets at a faster pace than ever before. That’s why IT asset disposition (ITAD) has become a core part of IT asset management (ITAM) initiatives.
IT asset management & disposal (commonly referred as ITAD) is the process of rendering an asset obsolete at the end of its lifecycle. This can occur for a variety of reasons. For example, perhaps the asset no longer operates properly and must be taken out of commission. Maybe it is simply outdated and needs to be replaced by a newer, better solution. Or, perhaps it is being refurbished and redeployed to another user, or sold to a third party.
In order to ensure the highest possible return on capital investments, ITAD must be handled as effectively as possible. For example, assets must be decommissioned based on current market worth in order to maximize residual value. Transition from old systems to new ones must be considered carefully, to prevent vital business data from being lost or compromised. IT budgets must be structured in such a way that they will leave room for the acquisition of replacement assets, if needed, to ensure business continuity. And, the disposal of certain technology assets must occur in adherence with federal privacy laws or environmental legislation.
It may sound like a harrowing task, but the truth is, implementing a comprehensive it asset management & disposal strategy and related processes may not be as challenging as it seems. In fact, companies that have a plan and system in place for enterprise asset management already have the tools they need to enable effective ITAD. Important information, such as asset profile and current configuration data, which is collected during the course of IT audits and other IT Asset Management activities, can also be extremely useful in various IT asset disposal processes, such as lifecycle profitability planning, virtual consignment, and compliance reporting.
IT Asset Management procedures can be easily extended to include IT Asset Disposal, giving companies the ability to proactively plan for asset retirement from both a technology and a financial perspective. So, they can reach the full potential of each and every IT asset before it is taken out of service.