Last year, the average total cost of a data breach was $3.62 million – or $141 per lost or stolen record, according to Ponemon Institute. Many companies often focus their concern on potential fines. However, the largest financial impact comes from the cost of cleaning up after a data breach and the loss of customer confidence that results in reduced revenue.
IDC forecasts that the global datasphere will grow ten-fold to 163 zettabytes (or a trillion gigabytes) by 2025. Our use of storage is growing exponentially, and with it, so are the risks and potential financial losses.
Data security is always among the highest priorities for any company. However, what happens to technology assets at the end of its life is rarely at the top of the list. Often customers’ specifications for large-scale refresh projects contain literally hundreds of pages of requirements around new equipment and then, at the very end, a single statement saying, “All legacy equipment being replaced must be disposed of in a secure and environmentally friendly manner.”
At the other end of the scale are companies obsessed with data security that have very strict IT asset disposition (ITAD) policies. They demand services where the security level is appropriate for the handling of highly sensitive government data when, in reality, the data could at worst disclose information readily available on the internet.
To read this article in full, please click here