Why ITAD is Essential for Risk Management Strategies

In today’s technology-driven environment, organizations are shifting their communication systems, data storage facilities and even their administrative departments to the online world in order to main their competitive advantage.  However, with the shift towards a technologically-advance world, companies are at a higher risk of cyber-security threats and data breaches. 

In short, your business’s sensitive data can be leaked at any given point. Therefore, the company’s risk management strategy must include an ITAD strategy to reduce your company’s overall risk. Your IT assets need to be safeguarded, and that’s where ITAD comes into the picture.

Defining IT Asset Disposition

IT Asset Disposition (also known as ITAD) is a blooming and rapidly growing industry that focuses on the secure and safe disposal of IT assets that have reached the end of their useful life.

All organizations should take the necessary steps to protect its IT assets. They are crucial to your company’s operations and will keep things operating smoothly and efficiently.  The data and information stored in these assets is sensitive and any unauthorized access or misuse of these assets could lead to serious consequences.

The most significant role ITAD service plays is that of data destruction. It requires the secure collection of old IT assets and then the destruction of the devices. Of course, you would need a reliable ITAD company to carry forward this task.

Why is ITAD Required in Risk Management?

Overall, ITAD is a process that offers many benefits and should be seriously considered as part of any comprehensive risk management strategy. By understanding the risks associated with data destruction and taking the proper steps to mitigate risk, organizations can protect themselves from financial loss, reputational damage, and legal trouble.

Cyber attacks are fairly standard in this era.  As a result, companies don’t want to risk hackers attacking their IT networks and systems. If you toss out your old hard drive, a thief might use all the company data against you.

Although restoring and retrieving sensitive data from these devices is fairly simple, not all

organizations may be able to destroy all the critical and sensitive data securely.  And, that’s where an ITAD Company comes into play and saves the day.

Ways of Integrating ITAD into the Risk Management Strategy

They say prevention is better than a cure, right? A company cannot afford a data leak. With improper data disposal comes several consequences so it would be beneficial to have an ITAD strategy which includes the following considerations:

  • Keep a quick and active inventory of all the devices owned by the company, including the lifespan, condition, characteristics, and location.
  • Make sure everyone is on the same page when it comes to understanding the importance of ITAD and data security.
  • Create a company-wide policy for accurate data privacy.
  • You should highly consider an ITAD consultant to perform secure data destruction.
  • An action plan needs to be created for data breaches (in case it happens in the future). You need to prepare a list of people to call in case of an emergency so that the IT system is decommissioned on a temporary basis.
  • There should be a sense of duty and responsibility towards the environment. Leave zero e-waste and speak to the ITAD consultant about this.

Why is an ITAD Strategy Important for All Businesses?

Since the pandemic, data risks have increased.  Choosing a reputable and reliable ITAD company is crucial and will ensure risk management strategies are in place while eliminating environmental liabilities and ensuring complete data security. OceanTech has the ability to handle all of your complex logistical needs and we handle a comprehensive list of materials, ensuring the safety and security of all of your data.