Vyta conducted a survey of 137 senior IT decision-makers throughout Ireland and Northern Ireland, with the aim of gaining an insight into organisations’ approach to disposing of end-of-life IT assets. The results highlight a number of interesting findings, including the fact that a significant number of Irish companies are leaving themselves open to huge GDPR fines.
Companies leaving themselves vulnerable to huge GDPR fines
Almost one-third of respondents (32%) who say that they use third-party IT retirement companies admitted that they do not receive formal confirmation from their providers that their data has been completely erased. Under GDPR this constitutes a data breach, and companies could be liable to fines of up to €20 million or 4% of global turnover, depending on which is greater. Businesses need to make sure that they are getting the required assurances that their data has been completely destroyed, and that it cannot be recovered.
As well as this, the results reveal that the majority of organisations fail to recover the value of old assets that they dispose of, despite the significant value of IT equipment. 70% of businesses say that they don’t recover any value when retiring old assets.
Vyta regularly returns the value of old IT to clients
Often, clients don’t see the value in old IT equipment and it doesn’t occur to them there is potentially a lucrative revenue. These companies are missing out on a potentially lucrative revenue stream; Vyta regularly returns the value of old IT to clients. Where possible, we focus on recovering the residual value for all client devices. This money can be used as the client sees fit – to upgrade the existing IT infrastructure for example. Alternatively, value from resold devices can be donated to a charity of the client’s choice.
Due to security concerns, some businesses are reluctant to agree to their old IT devices being resold. A third of survey respondents (33%) said that they would not allow it. However, working with an experienced partner like Vyta will ensure that your redundant IT equipment is securely wiped with a bespoke audit tracking system. Your IT assets are tracked from the initial collection onsite through to the resale. This delivers a comprehensive audit trail for each individual ICT Asset. A Certificate of Destruction is issued to guarantee the items have been recycled.
Contact us today to find out more about how Vyta can help your organisation to discover the value in old IT.