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The four “s’s” that underpin ITAD strategy: security, sustainability, scale, and savings
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IT Asset Disposition (ITAD) is an important piece of data security risk management—and it is something that organisations often overlook.
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Data breaches are increasing and the costs associated with data breach increased 13% from 2020 to 2022, according to IBM. In 2022, data breaches cost an average of $4.35 million globally ($9.9 million in the US) – but beyond the financial impact, the reputation and integrity of these organisations was jeopardised.
It is time to envision things differently. IT Asset Disposition (ITAD) is an important piece of data security risk management, which organisations often overlook. Despite the risks associated with hardware disposition, a new survey from Foundry reveals that many companies are neglecting proper security precautions. More than 40% of companies surveyed still do not yet have a formal ITAD strategy in place.
Rather than thinking about ITAD until an adverse event occurs, organisations must start recognising ITAD as a strategic practice to ensure data security, support sustainability, enable scale, and save money.
In this report, we will look at the four S’s of ITAD—Security, Sustainability, Scale, and Savings—and explore the challenges and opportunities for organisations they present.
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The (often insecure) state of ITAD today
Improper disposal of IT assets can have dire consequences. If sensitive information gets into the wrong hands, it can lead to financial loss, IP theft, and damage to an organisation’s reputation. But while it is critical to ensure retired assets are handled properly, the Foundry survey found that many organisations are using multiple insecure disposal methods. In fact, many don’t consider secure disposition of assets a business priority, and don’t understand its level of importance and significance.
Respondents admitted to frequently or occasionally engaging in multiple insecure practices including:
- 56% frequently or occasionally dispose of assets in the trash
- 79% frequently or occasionally store obsolete assets on-premises
- 58% frequently or occasionally store obsolete assets off-premises
Only 24% of those surveyed say they physically destroy assets on a frequent basis. US respondents were more likely to do so than their counterparts in (30%) in Europe, the Middle East and Africa (21%), and in Singapore and Australia (23%).
What’s more, just 44% of respondents say they consistently destroy or sanitise data on retired IT assets. But why? Many consider the risk of sanitising assets to be greater than the reward. Nearly half (45%) say sanitising or removing it improperly is more of a risk than leaving it intact.
Other reasons include:
- 28% - lack of necessary expertise or skills
- 24% - lack of necessary technology
- 22% - lack of budget
Download the whitepaper to read more.
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