The cost of doing business continues to increase. And as technology speeds up exponentially, so must your IT budget.
According to a 2017 survey from CIO Magazine, IT budgets will increase on average 5% in the upcoming year with some polls claiming as high as 8%. The increase in cost is frightening, given IT has a slow ROI, if any. And as mobile technology becomes increasingly important, so does the impact mobile devices have on the bottom line.
Most businesses focus their cost efficiencies at the beginning of a phone’s life cycle, namely finding devices that serve the business purpose without costing too much. Similarly, mobile plans can assist in keeping costs down.
But one area rarely focused on when trying to recover costs is when a mobile device is at the end of their life cycle. Namely, earning money from retired devices.
Recycling value in old tech
Gone are the days when mobile devices no longer retained any value after replacement. In fact, most network operators prefer trade-ins and recycling of old mobile devices as that keeps down manufacturing costs. But getting old devices out of the closets can be a difficult endeavor.
Most well-known options are based on the idea that mobile devices have zero value upon retirement. Recycling programs are designed to pick up devices with no reimbursement for value. These programs ensure compliant disposal and little else.
Similarly, trade-ins are designed on an old system of convenience. Since the consumer is already at the retailer for the new phone, it is an easy sell to convince them to leave their phone for a nominal discount on their new phones. However, trade-in systems are inefficient and lag in areas of testing and grading devices. This inefficiency decreases the amount you earn from your phones.
Private sales can benefit individuals who have one or two phones of which to dispose. Namely, listing the devices on a buy/sell site such as Craigslist offers a decent return to a diligent individual. Yet private sales are labor intensive and cumbersome when dealing with multiple devices at once.
However, none of the above options are viable to help businesses keep mobile costs in line while trying to be on the front edge of customer availability. Recycling and trade-ins offer little reimbursement for cost, and private sales are labor intensive which off-sets any increase in return. Having to wipe every phone will tax an IT department alone, much less chasing down and negotiating sales for multiple devices.
Utilizing 3rd party brokers
The best opportunity for a business to add money back to their G&A from device expenses is to use a 3rd party cell phone trading partner. These companies are brokers who align purchasers for your devices.
However, this can feel almost as overwhelming to IT departments as private sales. Namely, there are any number of companies and businesses who offer to sell your mobile devices for top dollar. And the services provided by each are varied and run the full gambit of guarantees and returns.
Just as you would be concerned with your network, data contained on mobile devices can be a risk and unexpected cost to you company.
The right services
Ultimately, your business should utilize a company that offers multiple services in exchange for selling your phones.
The ideal company can test and grade your devices quickly, giving you a secured amount and offering you the most for each device. Also, such company can wipe all data from the phones on-site if needed, ensuring compliance with your business’s security protocol. A business can provide evidence of compliant processing, if needed.
Yet researching and signing up with an ideal trade-in company can cause the same problems mentioned above. Namely, taxing an already stretched IT department and causing inefficiencies.
Getting the most return on your old devices really comes down to leveraging the partnership with your Master Agent.
At MobileWare, we have a buyback program that offers onsite support, data wiping, and the most money for your devices. MobileWare can recover the most money from your retired devices, and it ensures your company follows all compliance regulations regarding disposal of tech devices. MobileWare pays 20% - 30% more than the average telecommunications partner. Money added to your bottom line.
Cost minimization can occur in at multiple levels of a business. Finding the right mobile plan and ensuring appropriate use by your employees is the first defense against waste, but at the end of the day your devices hold value to you even after they no longer function for your business. Utilize all options at your disposal to assist in keeping down G&A costs while keeping your tech in top form.
Just as you would not throw away a $20 bill, you should not let your mobile devices gather dust in the closet. Make sure you can get the most return for your old devices.