Trending...
- DCA Virtual: Two Decades Since the SBA Has Been Reauthorized – Is This the Year?
- TRICOCI UNIVERSITY OF BEAUTY CULTURE NAMED BEST BEAUTY SCHOOL IN THE COUNTRY
- The Official Drink Of Juneteenth Atlanta 2023
The annual publication highlights the latest trends in customer service, managing assets for a remote workforce, and equipment resale prices
MADISON, Wis. & ORLANDO, Fla. - illiNews -- Cascade Asset Management (Cascade), a national leader in information technology (IT) retirement solutions, has published its ninth annual benchmarking report. New observations in this year's report include the rising importance of customer service when choosing an IT asset disposition (ITAD) partner, followed closely by managing environmental risks. Those companies surveyed for the report stated the remote workforce trend continues to affect their IT management programs, especially in terms of returning used assets. The publication also addresses how economic changes are lowering the resale prices for used IT equipment and mobile devices to pre-pandemic levels.
Results were compiled from a survey of 54 enterprises and organizations collectively representing over 231,100 employees and 12 industry sectors. Additionally, Cascade evaluated the processing of more than 1.2 million assets between 2019 to 2022, including desktops, notebooks, tablets, smartphones, and servers.
When asked what was "critically important" when selecting an IT asset disposition (ITAD), survey respondents ranked "Managing Data Security and Privacy Risks" as number one. In fact, this option gained forty more percentage points than the second-place choice: "Quality of Customer Service." Considering IBM's estimate of $9.44 million as the average cost of a data breach in the United States in 2022, coupled with continuing press attention surrounding the Morgan Stanley breach, it appears organizations are taking data security very seriously. In addition to rating data security as critically important, several respondents offered comments on the matter. Among their concerns were a secure chain of custody when assets are removed from their facility, meeting internal security policies, disposing of equipment with a reputable firm, and recycling items responsibly.
More on illi News
The remote workforce trend continues to impact an organization's IT management program. Results for the question, "how many employees do you expect to work from home a year from now," was 36.9%, up from 30.1% last year. With more employees working remotely, managing devices that are scheduled for replacement, retirement, or disposal takes on more variations. The two most popular answers for managing returns were bringing the item to the company or returning it to a consolidated company location. Some respondents commented that the plan of action depends on the employee's location in relation to the company.
Another topic highlighted in the benchmarking report was the effects of a recession on the ITAD industry. Cascade and other ITAD vendors are experiencing increased labor and asset processing costs alongside decreased revenue from used equipment sales and scrap metal. According to the report, the demand for used mobile and computer equipment saw steady increases in the past couple of years. As a result of lower demand this year, prices dropped 19-25%, which is in line with pre-pandemic levels. Despite lower values, Cascade asserts that companies with IT asset management programs in place that minimize damage to devices, maintain a defined retirement schedule, and promote equipment reuse, can have an ITAD program that pays for itself by reselling their used high-demand assets.
More on illi News
"We're happy to share the results of our ninth annual survey so that organizations can compare their IT asset disposition programs with others to identify best practices and areas for improvement," says Neil Peters-Michaud, CEO of Cascade. "Leaders in high-risk industries like healthcare, financial services, and IT services took the time to share information on their asset management programs. We appreciate their insight and will apply it as we deliver our core values of data security, sustainability, cost savings from resold assets, and customer satisfaction."
The report is available online at: https://cascade-assets.com/cascade-benchmarking-report
Results were compiled from a survey of 54 enterprises and organizations collectively representing over 231,100 employees and 12 industry sectors. Additionally, Cascade evaluated the processing of more than 1.2 million assets between 2019 to 2022, including desktops, notebooks, tablets, smartphones, and servers.
When asked what was "critically important" when selecting an IT asset disposition (ITAD), survey respondents ranked "Managing Data Security and Privacy Risks" as number one. In fact, this option gained forty more percentage points than the second-place choice: "Quality of Customer Service." Considering IBM's estimate of $9.44 million as the average cost of a data breach in the United States in 2022, coupled with continuing press attention surrounding the Morgan Stanley breach, it appears organizations are taking data security very seriously. In addition to rating data security as critically important, several respondents offered comments on the matter. Among their concerns were a secure chain of custody when assets are removed from their facility, meeting internal security policies, disposing of equipment with a reputable firm, and recycling items responsibly.
More on illi News
- GP GLOBAL GROUP Secures $18M Sale of Shoppes at 41st Street Retail Plaza in Doral, Florida, with $11.5M CMBS Loan Assumption
- HLN's Immunization Calculation Engine (ICE) is continually updated to support new COVID-19 recommendations
- Aloha Poke Co. Opens Its Next Chicago-area Location
- Rewilding Ireland with Lord Dunsany and IrishTrees
- The Tokyo Rebels Announces the Release of Their Groundbreaking Whitepaper
The remote workforce trend continues to impact an organization's IT management program. Results for the question, "how many employees do you expect to work from home a year from now," was 36.9%, up from 30.1% last year. With more employees working remotely, managing devices that are scheduled for replacement, retirement, or disposal takes on more variations. The two most popular answers for managing returns were bringing the item to the company or returning it to a consolidated company location. Some respondents commented that the plan of action depends on the employee's location in relation to the company.
Another topic highlighted in the benchmarking report was the effects of a recession on the ITAD industry. Cascade and other ITAD vendors are experiencing increased labor and asset processing costs alongside decreased revenue from used equipment sales and scrap metal. According to the report, the demand for used mobile and computer equipment saw steady increases in the past couple of years. As a result of lower demand this year, prices dropped 19-25%, which is in line with pre-pandemic levels. Despite lower values, Cascade asserts that companies with IT asset management programs in place that minimize damage to devices, maintain a defined retirement schedule, and promote equipment reuse, can have an ITAD program that pays for itself by reselling their used high-demand assets.
More on illi News
- Armadillos with Benefits™ - PicPocket-Labs, Inc. details its plans/roadmap at SxSW for combining "location-based NFTs" and loyalty programs
- Microsoft-Backed HRtech Startup ZingHR Invests In SaaS Startup LokiBots
- Nearly Two-Dozen Websites, Facebook Pages Turned Over To Watchdogs –
- World Sleep Day, why do we celebrate?
- HGR Alcohol Detox Centers in San Diego Accepts Most Health Insurances
"We're happy to share the results of our ninth annual survey so that organizations can compare their IT asset disposition programs with others to identify best practices and areas for improvement," says Neil Peters-Michaud, CEO of Cascade. "Leaders in high-risk industries like healthcare, financial services, and IT services took the time to share information on their asset management programs. We appreciate their insight and will apply it as we deliver our core values of data security, sustainability, cost savings from resold assets, and customer satisfaction."
The report is available online at: https://cascade-assets.com/cascade-benchmarking-report
Source: Cascade Asset Management
0 Comments
Latest on illi News
- AdvisorVault Partners With Compliant Workspace to Help FINRA Firms Achieve 17a-4 Compliance on Microsoft 365
- Brighton Health Plan Solutions Michelle Zettergren to Speak at 2023 ACHE Congress on Healthcare Leadership
- The New Real Estate "Just Looking" Program Is A Big Hit With Atlanta Area Residents!
- Introducing Music360, the New Social Music Streaming App
- Various Measures Introduced to and Approved by the Chicago City Council
- Marsha Gay Reynolds Shares Insights on In-Home Care Post-Pandemic
- Things to Consider When Hiring an SEO Consultant
- Hiring a SEO Agency to Increase Sales
- Zebra Technologies Appoints Rob Armstrong as Chief Marketing Officer
- IOTech announces a new release of Edge Xrt, its high performance data connectivity solution for industrial systems
- ANIMAL RIGHTS PROTEST at The Animal Foundation of Las Vegas
- Graphis to Publish Kit Hinrichs' New Book: Narrative Design
- Celebrating 5 years of Asorock Watches: A Chicago based, Black-Owned luxury watch company
- TRICOCI UNIVERSITY OF BEAUTY CULTURE NAMED BEST BEAUTY SCHOOL IN THE COUNTRY
- The expansion continues at Right Cars Global Rentals as it officially announces its opening in the Dominican Republic
- Buona and Rainbow Cone Announce First Dual-Concept Location in Indiana
- King Me: Loving and Leading in a Wounding World Releases March 15, 2023
- The Official Drink Of Juneteenth Atlanta 2023
- DCA Virtual: Two Decades Since the SBA Has Been Reauthorized – Is This the Year?
- Fairway Private Equity & Venture Capital Opportunities Fund Announces First Year Results