LEVERAGING IT ASSET DISPOSITION TO STRENGTHEN DATA PROTECTION
Business and IT leaders are under intense pressure to secure and protect data at every stage of its lifecycle. The average cost of a data breach has risen to $4 million, and the average cost of each lost or stolen record containing sensitive or confidential information is $158. Beyond costs, a breach can inflict significant collateral damage to the business, resulting in fines or other penalties for failure to meet regulatory requirements. In addition, a breach can cause irreparable harm to brand reputation and customer goodwill, while creating potentially serious morale and productivity problems for employees. To limit risk, organizations are embracing solutions and strategies that protect, preserve and manage data at every stage of its lifecycle. One of the biggest challenges comes at the end of an IT asset’s life, when organizations must ensure that specific actions are taken to prevent breaches as data-bearing equipment is retired. Business and IT leaders are increasingly turning to IT asset disposition (ITAD) services as a way to ensure protection. The ITAD market is growing at a compound annual rate of nearly 10% and is expected to reach more than $20 billion 1 “2016 Ponemon Institute Cost of a Data Breach Study,” Ponemon Institute and IBM, June 15, 2016 by 2022. While that growth is being fueled primarily by increased spending on data protection, companies that invest in ITAD are also able to achieve ancillary benefits such as value recovery and environmental compliance.
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