Benefits of Monetizing Your Old IT Assets and How to Do It
Technology is evolving rapidly nowadays, which means IT assets become obsolete more quickly than before. Several businesses buy better models within a few years because they are more efficient and optimized. However, that also means you have an inventory full of old equipment you no longer use. So, why not monetize it through an IT asset disposition strategy?
Tech dumping is a prevailing problem since few people and businesses try to recycle or resell their old electronics. This practice has led to an alarming increase in e-waste in landfills, causing environmental pollution. Thankfully, you can avoid contributing to waste generation and achieve benefits simultaneously.
This blog will explain the benefits of monetizing your old assets and provide tips on managing them.
Benefits of Monetizing your IT Asset Disposition
This task will require a little work since you’ll need to review your inventory, but the results are worth it. The following are the top benefits of monetizing your IT asset disposition:
1. Provides Economic Benefit
Firstly, this strategy is economically beneficial for the organization. Your old assets are currently collecting dust in the warehouse, but you have the option to change that and earn money from them. Several businesses wait too long to manage their tech equipment, leading them to lose value, so it is much better to get started now.
2. Clears Up Space
The problem with keeping old assets around is costing you money. That’s right; your assets occupy space leading to inventory management costs. At the very least, you need to keep the area clean and maintain security to ensure no one tries stealing anything.
Hence, monetizing and disposing of them will allow you to avoid inventory costs or use them to store revenue-generating items.
3. Environmentally-Friendly IT Asset Disposition
Monetizing IT assets may seem self-serving, but it is a sustainable choice. Monetizing means selling your assets instead of dumping them in a landfill. Hence, the product will reach a business or person using it, allowing it to remain in circulation until it is no longer usable.
It is an environmentally-friendly decision and will align with the general direction customers expect businesses to take.
4. Marketing Opportunity
Monetization of your old IT assets is also a marketing opportunity. While advertising the equipment, you can also include communication about this sustainable initiative. This action will help promote you as an eco-friendly company, creating a positive image in the minds of your target audience.
You can also use it to encourage people to recycle, reuse, or refurbish to switch to responsible consumption to reduce their carbon footprint.
How to Monetize Your Old IT assets
You now know that monetizing your IT asset disposition is the correct decision, but how will you achieve this goal? Following are some tips on initiating this process to help you get started:
1. Document Each Unit
You likely have several items that employees haven’t used in some time. The first step is to document each unit and create an official record. Make the record as detailed as possible by mentioning the hardware, software, hard drives, servers, etc.
The detailing will ensure you don’t miss a single unit nor accidentally under or overvalue their estimated worth.
2. Get a Valuation for Your Equipment
You may have a general idea about their worth, but you need to get a formal valuation from an expert to know what to charge for them. Try looking up the average sale value of such products in your region to understand how much people or businesses are willing to pay for the items.
Choosing the partner with the best reputation and offer is the ideal choice.
3. Take Pictures and Note Down Serial Numbers
Next, please take pictures of all units and their serial numbers. The photos will be evidence of their condition, and serial numbers will be necessary for explaining the sale to the auditor. This information needs to be flawless to prevent any problems from arising in reconciliation.
4. Get in Touch With a Reputable ITAD Company
Look up the best ITAD companies in your area because they are the best buyers for old IT assets. CompuCycle is a leading brand in the market, and we will be happy to check out your proposed equipment and prices.
We have a reputation for fairness and will ensure you get the right price for your products.
5. Confirm Secure Data Destruction
Lastly, ensure that the ITAD Company completes secure data destruction. CompuCycle prioritizes a client’s data security, so you can rest assured that we will allow you to observe the data destruction process if you want.
To conclude, monetizing IT asset disposition is beneficial because it provides an economic benefit, is eco-friendly, and can help reinforce your sustainable image.
CompuCycle is the best partner for this process since we have the experience and expertise to access equipment. Please contact our team if you want to sell your old IT assets.