In our always-on world of technology, business continuity has become vital to the success of critical applications and companies involved in a huge variety of sectors, be it healthcare, finance, telecommunications or otherwise. Business continuity, or a company’s ability to plan for, mitigate or even avoid disasters and their associated operational disruptions, is only growing in importance as data and application access becomes increasingly critical and businesses are facing unprecedented exposures to disrupting events.
Events that challenge continuity can range from weather-related disasters and outages to more reputational incidents like hacking issues or lawsuits, but all can pose repercussions if they take down business functions. In fact, in the past two years, over 50 percent of businesses experienced an unforeseen interruption, and the vast majority (81 percent) of these interruptions caused the business to be closed for one or more days. At the same time, 80 percent of businesses that suffer a major disaster such as hurricanes, fires or cyber-breaches go out of business in 3 years, while 40 percent of businesses that experience a critical IT failure go out of business within one year.
This begs the question: how prepared is your business for operational disruption? Disaster recovery plans can take many forms and often include pre-set policies, tools, and procedures. However, one often underestimated, yet particularly critical, facet of recovery lies in managing end-of-life assets and equipment disposition. IT Asset Disposition (otherwise known as ITAD) can protect your business from the damaging effects of disruption and safeguard business continuity in a number of ways, and should always be part of an effective disaster recovery plan.
To start, to help avoid system failures, devices and equipment should be kept up-to-date to ensure proper function. Many businesses do a good job tailoring their equipment and operational frameworks to growing requirements, and many are taking leaps like moving to a cloud-based environment to keep pace. However, where many fail in this turnover process is with asset retirement. When incorporating more contemporary technologies, the older models and assets should be treated with as much care and consideration as the new. Creating proper ITAD procedures allows you to regain as much value as possible from old equipment while remaining compliant and environmentally ethical with your e-waste. Although, complex considerations like value windows, levels of demand, Manufacturer Suggested Retail Prices (MSRP) and more come into play here, complicating the process for many companies. Yet, businesses who choose to go without proper ITAD procedures risk losing value and efficiency when incorporating new equipment.
Compliance with federal, state and local laws is another big reason to invest time incorporating good ITAD practices into disaster recovery and business continuity plans. It can be difficult to navigate strict and rapidly-evolving regulatory compliance requirements regarding both ethical e-waste disposal and data security, but the dangers of neglect here are high. In fact, in 2018, the U.S. reported 1,244 data breaches, resulting in more than 446.5 million exposed records. Events like these can compromise or even destroy public trust, which in turn leads to financial dips and sometimes bankruptcy for smaller businesses that cannot absorb the impact.
Remaining conscientious and creating strategies that align with these regulations are key for preserving that public trust and creating a positive reputation.
Luckily, there is one simple way to ensure compliance and security on all fronts while simultaneously making sure that your business garners every possible continuity and recovery benefit that IT asset disposition offers: allying with an ITAD specialist. Liquid Technology, an industry-leading IT asset disposition service provider, is expertly positioned to meet any and every business demand as companies look to incorporate ITAD into their disaster recovery plan.
With R2, ISO 14001 and e-Stewards certifications, Liquid Technology ensures that all client requirements and local, state and federal data and environmental regulations are met thoroughly, easily, and with transparency. The company also guides businesses through conscientious chain-of-custody, as well as data destruction and erasure procedures to manage and avert any data concerns. Plus, Liquid Technology knows all the insider secrets and tricks of the trade when it comes to asset recycling, liquidation and resale, empowering businesses to garner any residual value and maximize return on investment (ROI).
When put together, all of these factors ensure that business continuity is safeguarded during the critical end-of-life asset phase, granting companies peace of mind and a more reliable and complete recovery plan.
To learn more about Liquid Technology’s portfolio of expert ITAD services, please visit www.liquidtechnology.net.