Increasingly, there is a high turnover of IT assets across businesses large and small. With technology moving fast, businesses are quick to upgrade their hardware to avoid being left behind. This poses the problem as to what to do with the old hardware. Too often we find that products which have resale value are discarded completely, or products are refurbished to a poor standard, recouping only a fraction of the true value of the asset. Sometimes, assets are refurbished adequately but are put to market in the wrong sales channel, again resulting in missed revenue.
This is where electronic asset recovery becomes important, allowing businesses to recoup the full value of their assets, revenue which can be reinvested into the business, providing a potential edge over competitors who continue to recoup mere fractions of the true value of their IT assets.
In this article, we will take a look at the importance of electronic asset recovery, and how it can help your business to uncover the true value of your electronic devices.
The Value of Electronic Asset Recovery
Electronic asset recovery is an increasingly important service for businesses to uncover the full value of their electronic devices. When you take the decision to upgrade your business hardware, it is important to engage a fully qualified ITAD partner to assess the devices that are set to be replaced. Undertaking this evaluation promptly will provide you with a good idea of the type of return on investment you are likely to see for your existing hardware. Your ITAD vendor should be familiar with the current market rates for your devices, and will be able to segment your devices by those that can be resold immediately, those that require refurbishment before resale, and those that are likely to recoup more value as scrap.
When an asset is deemed suitable for resale, there are certain strategies that can be used to recoup the maximum possible revenue for the device. These include:
Asset refurbishment – Refurbishment is a great way to increase the potential resale value of an asset, by restoring it to ‘like new’ condition. In many cases, the cost incurred in refurbishment is exceeded by the revenue recouped at sale.
Software update and/or installation – In almost all cases, your devices will be securely wiped before resale to ensure that sensitive data cannot be retrieved. Unfortunately, this often means that the asset is rendered unusable by non-specialists, as the software and operating system is removed from the device. By taking the time to reinstall an operating system, and restoring the asset to full working capacity, you also greatly increase the potential resale of the device.
Cosmetics – Similar to refurbishment, tidying up the appearance of your old devices can make a big impact on resale value.
Sensible pricing – As with all markets, an item that is incorrectly priced will result in no resale at all if it fails to sell. A vendor with expert insight into the IT asset resale market will be able to price your items sensibly, ensuring you recoup the full value of your assets.
Enlisting the services of an experienced and trustworthy ITAD vendor can help to ensure that you recoup the maximum value for your IT assets. tier1 has over 25 years in the IT industry, meaning we have a wealth of expertise to offer when it comes to electronic asset recovery. For more information on our electronic asset recovery services, visit https://www.tier1.com or contact us on 0161 777 1000.