A lease return system for electronics is not as easy as it may sound.
In the modern world where most businesses are equipped with high-tech devices to run efficiently, it’s no wonder that the demand for IT equipment is continuously increasing. This demand skyrocketed when the global pandemic started and has continued due to the supply chain issues our country is facing.
The considerably short lifespan of office technologies has turned into a burden for many business owners. The extra expenses from the constant need for upgrades, maintenance, and new equipment became too expensive for many companies to afford. This situation led organizations to lease equipment instead of buying. Hence, the demand for IT asset leasing has surged in the market.
Lease return process for other technologies, like vehicles, is far easier than managing the return of IT equipment. There are other important areas to address like data security, lease agreement specifics, shipping standards, and other requirements to meet when returning IT devices to the lessor. There are also a number of options companies can also choose from, depending on their needs. But given these options, how can companies identify a proper and secure process for lease returns? Here’s how.
Proper Lease Return Process for IT Equipment at End of a Lease
- Compliance with e-waste disposal standards and requirements: Make sure that the recycling process and electronic waste are handled ethically while specifically following the policies set by your local state or government agencies like EPA’s issued public law that regulates waste management. Recycling and refurbishing your old technologies are still the better option to reduce electronic waste that usually contain hazardous components.
- Secure data wipe or destruction of retired hard drives to ensure data protection. A proper data eradication process should also be in compliance with the laws and regulations of your region. Depending on the organization’s needs, there are numerous data deletion forms to choose from. You should always understand and follow all company madatess
If you are enlisting the help a third-party partner in your end-of-lease process make sure they are able to indemnify your company for data breach/improper recycling processes. Your partners certifications (R2 or e-Stewards) will be your first indicator of their ability to indemnify you for a proper amount.
- Proper packing of your technologies. Your technologies will be subject to stress and hazard from transportation and you want to make sure they’re securely packed and well-intact. Sorting out, materials of choice, wrapping techniques, equipment and box hazard labels, and mechanisms for extra security are just some of the elements of safe and well-executed packing.