MINNEAPOLIS and ST. PAUL, Minn., Jan. 26, 2016 /PRNewswire/ -- Maxxum, a technology asset disposal and deployment company based in the Twin Cities, recently completed a comprehensive research study to evaluate technology asset disposal practices.
The results reveal that organizations still engage in risky technology disposal behavior, even as data breaches continue to increase in frequency and severity.
Over 40 percent of respondents to the survey used in the research stated that their companies sometimes use disposal methods outside of a professional technology disposal service—including equipment donations and giving equipment to employees.
That practice is courting danger. In today's digital environment, breaches and stolen information are much more prevalent and the costs of both are rising. IBM and the Ponemon Institute released a global study last January that said that the average total cost of a data breach has increased 23 percent in the last two years, up to $3.79 million.
"Even though companies are more aware than ever that it's important to protect against breaches, most of them aren't doing enough to safeguard themselves," said Rich Woodward, President and CEO of Maxxum. "Data breaches, whether lost or stolen information, can damage your brand as well as result in fines. Maxxum's best practices in data destruction and asset disposal can help companies secure their brand."
In this new digital age, it's increasingly important to dispose of technology assets using a safe and compliant program. Over the past year the technology disposal landscape has changed dramatically in the Twin Cities, with two of the largest providers leaving town.
Arrow Value Recovery shuttered its St. Paul facility last spring and becoming a long-haul service provider for Minnesota companies, and Materials Processing Corp. of Mendota Heights, shut down in the wake of large state fines for improper storage last August.
Maxxum launched their survey in August, 2015, and ran it through November 2015, with the goal of gathering responses from highly regulated and risk adverse organizations including health care, insurance, medical device, financial services and education.
Maxxum is a Minnesota-based technology asset services firm offering strategic partnerships, compliance expertise, and in-depth knowledge of the technology asset market. For more information, visit www.maxxum.com.