Search
00
GBAF Logo
trophy
Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

Subscribe to our newsletter

Get the latest news and updates from our team.

Global Banking and Finance Review

Global Banking & Finance Review

Company

    GBAF Logo
    • About Us
    • Profile
    • Privacy & Cookie Policy
    • Terms of Use
    • Contact Us
    • Advertising
    • Submit Post
    • Latest News
    • Research Reports
    • Press Release
    • Awards▾
      • About the Awards
      • Awards TimeTable
      • Submit Nominations
      • Testimonials
      • Media Room
      • Award Winners
      • FAQ
    • Magazines▾
      • Global Banking & Finance Review Magazine Issue 79
      • Global Banking & Finance Review Magazine Issue 78
      • Global Banking & Finance Review Magazine Issue 77
      • Global Banking & Finance Review Magazine Issue 76
      • Global Banking & Finance Review Magazine Issue 75
      • Global Banking & Finance Review Magazine Issue 73
      • Global Banking & Finance Review Magazine Issue 71
      • Global Banking & Finance Review Magazine Issue 70
      • Global Banking & Finance Review Magazine Issue 69
      • Global Banking & Finance Review Magazine Issue 66
    Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
    Copyright © 2010-2025 GBAF Publications Ltd - All Rights Reserved.

    Editorial & Advertiser disclosure

    Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Home > Technology > Businesses are Sacrificing Sustainability Targets to Stay Up-to-Date with Latest Tech
    Technology

    Businesses are Sacrificing Sustainability Targets to Stay Up-to-Date with Latest Tech

    Businesses are Sacrificing Sustainability Targets to Stay Up-to-Date with Latest Tech

    Published by Jessica Weisman-Pitts

    Posted on June 24, 2022

    Featured image for article about Technology

    By Stefan Spendrup, VP of Sales, Northern and Western Europe at SOTI

    Enterprises across the world are constantly looking to innovate and improve business operations, but this innovation comes at a cost for both businesses and the planet. Following agreements at COP26, and the UK Government’s planned reformed Energy Bill, more emphasis has been placed on corporate sustainability and working towards a genuinely sustainable future.

    In response, businesses have been slowly implementing sustainable practices by using more digital resources, recycling waste products and promoting smart digital working. However, are they undoing this good work by disposing of digital devices prematurely?

    Phones, printers, monitors, tablets, laptops and scanners are constantly replaced, despite many enterprises having corporate sustainability goals in place. While device replacement is inevitable, nearly 7 in 10 IT leaders of international corporations believe businesses are unnecessarily and prematurely disposing of digital devices. Laptops and tablets are among the most common devices to be disposed of unnecessarily when they are in fine working order.

    SOTI’s Reduce, Reuse, Rethink: From Discard Mentality to Tech Sustainability report found that despite 56% of IT leaders having clear targets for e-waste, and a further 53% of businesses working towards corporate social responsibility (CSR) key performance indicators (KPIs) around sustainable device management, unnecessary device disposal is at an all-time high. What is the reason for this and how can we reduce e-waste?

    The Need to Stay Ahead

    SOTI’s research discovered 56% of IT leaders agree device management is an extremely important environmental issue, but not enough is being done to tackle the problem. With global landfills filling up, businesses discarding devices unnecessarily will only amplify the problem.

    Technology has always been seen as a key driver in enhancing business operations. However, it has now become so entrenched within corporate culture that businesses are doing anything to stay ahead of the latest technology updates, even at the cost of the planet.

    Many IT leaders acknowledge they replace their mobile phones, tablets, laptops and sometimes printers when a newer model enters the market or the device warranty expires. Further exacerbating the negative impact of e-waste, some companies believe having the latest mobile technology hardware makes their organisation more attractive for employees (62%).

    Devices are not thrown away accidentally. Societal attitudes about personal technology encourage individuals to regularly replace their devices with the newest model or version on the market. For businesses, it should not be this simple. Both individuals and businesses should not dispose of mobile technologies to acquire a newer model, when the battery dies or because there is an expectation a battery will need replacing soon.

    Unnecessary Disposal Equates to Unnecessary Costs

    Companies are also spending significant sums of money to stay on top of technological trends. The average cost of a new phone can range from £300 to more than £1,500. Replacing these devices every two to three years once the average warranty has run out is costing businesses an astronomical amount. For instance, if you have 100 employees and are replacing their mobile phones every three years with the latest models at £300 each, this can cost a business over £100,000 over a 10-year period.

    Over 34% of companies are changing devices after employees request an upgrade. This needs to stop if the amount of commercial e-waste is to be reduced. Business innovation is paramount, but not at the cost of unnecessarily disposing of and replacing devices. Businesses are sacrificing sustainability targets and wasting money.

    Moving Towards A New Age

    While some organisations have considerable financial resources dedicated to device replacement, very few corporate budgets are dedicated to extending the lifespan of devices. There are many cost-effective and sustainable ways to monitor and extend a device’s lifespan. The idea that replacing older devices with the most up-to-date devices attracts potential recruits or clients does not mean better business efficiency if the technology is not fully integrated with existing systems.

    SOTI’s report shows 59% of companies have dedicated Enterprise Mobility Management (EMM) strategies to maximise the potential of their devices, but companies are not reaping the benefits of these solutions. EMM strategies can monitor device lifespan, downtime and battery life. More than 90% of IT leaders said their organisation’s devices have replaceable batteries. With these strategies, IT leaders can monitor a device’s battery and replace it when necessary for significantly less than the cost of replacing the hardware.

    Battery recycling is becoming more advanced and widely available. Companies can continue to update devices without contributing to the global e-waste problem. With the ongoing global supply chain crisis, companies cannot obtain new technologies as easily as they previously could, so proper integration and device management is crucial. EMM strategies are even more critical in today’s market where organisations feel obligated to stay at the forefront of new technologies. They enable a company to stay up-to-date and in-line with its sustainability targets.

    Additionally, EMM works to stop negligent device replacement since the diagnosis and repair strategy is a far more effective way to ensure proper device management. This allows companies to meet sustainability targets and contribute to the world’s sustainability efforts. Furthermore, as the supply chain crisis continues, obtaining devices has become a challenge in itself – making the management of existing devices essential for businesses across the world.

    Related Posts
    Treasury transformation must be built on accountability and trust
    Treasury transformation must be built on accountability and trust
    Financial services: a human-centric approach to managing risk
    Financial services: a human-centric approach to managing risk
    LakeFusion Secures Seed Funding to Advance AI-Native Master Data Management
    LakeFusion Secures Seed Funding to Advance AI-Native Master Data Management
    Clarity, Context, Confidence: Explainable AI and the New Era of Investor Trust
    Clarity, Context, Confidence: Explainable AI and the New Era of Investor Trust
    Data Intelligence Transforms the Future of Credit Risk Strategy
    Data Intelligence Transforms the Future of Credit Risk Strategy
    Architect of Integration Ushers in a New Era for AI in Regulated Industries
    Architect of Integration Ushers in a New Era for AI in Regulated Industries
    How One Technologist is Building Self-Healing AI Systems that Could Transform Financial Regulation
    How One Technologist is Building Self-Healing AI Systems that Could Transform Financial Regulation
    SBS is Doubling Down on SaaS to Power the Next Wave of Bank Modernization
    SBS is Doubling Down on SaaS to Power the Next Wave of Bank Modernization
    Trust Embedding: Integrating Governance into Next-Generation Data Platforms
    Trust Embedding: Integrating Governance into Next-Generation Data Platforms
    The Guardian of Connectivity: How Rohith Kumar Punithavel Is Redefining Trust in Private Networks
    The Guardian of Connectivity: How Rohith Kumar Punithavel Is Redefining Trust in Private Networks
    BNY Partners With HID and SwiftConnect to Provide Mobile Access to its Offices Around the Globe With Employee Badge in Apple Wallet
    BNY Partners With HID and SwiftConnect to Provide Mobile Access to its Offices Around the Globe With Employee Badge in Apple Wallet
    How Integral’s CTO Chidambaram Bhat is helping to solve  transfer pricing problems through cutting edge AI.
    How Integral’s CTO Chidambaram Bhat is helping to solve transfer pricing problems through cutting edge AI.

    Why waste money on news and opinions when you can access them for free?

    Take advantage of our newsletter subscription and stay informed on the go!

    Subscribe

    More from Technology

    Explore more articles in the Technology category

    Why Physical Infrastructure Still Matters in a Digital Economy

    Why Physical Infrastructure Still Matters in a Digital Economy

    Why Compliance Has Become an Engineering Problem

    Why Compliance Has Become an Engineering Problem

    Can AI-Powered Security Prevent $4.2 Billion in Banking Fraud?

    Can AI-Powered Security Prevent $4.2 Billion in Banking Fraud?

    Reimagining Human-Technology Interaction: Sagar Kesarpu’s Mission to Humanize Automation

    Reimagining Human-Technology Interaction: Sagar Kesarpu’s Mission to Humanize Automation

    LeapXpert: How financial institutions can turn shadow messaging from a risk into an opportunity

    LeapXpert: How financial institutions can turn shadow messaging from a risk into an opportunity

    Intelligence in Motion: Building Predictive Systems for Global Operations

    Intelligence in Motion: Building Predictive Systems for Global Operations

    Predictive Analytics and Strategic Operations: Strengthening Supply Chain Resilience

    Predictive Analytics and Strategic Operations: Strengthening Supply Chain Resilience

    How Nclude.ai   turned broken portals into completed applications

    How Nclude.ai turned broken portals into completed applications

    The Silent Shift: Rethinking Services for a Digital World?

    The Silent Shift: Rethinking Services for a Digital World?

    Culture as Capital: How Woxa Corporation Is Redefining Fintech Sustainability

    Culture as Capital: How Woxa Corporation Is Redefining Fintech Sustainability

    Securing the Future: We're Fixing Cyber Resilience by Finally Making Compliance Cool

    Securing the Future: We're Fixing Cyber Resilience by Finally Making Compliance Cool

    Supply chain security risks now innumerable and unmanageable for majority of cybersecurity leaders, IO research reveals

    Supply chain security risks now innumerable and unmanageable for majority of cybersecurity leaders, IO research reveals

    View All Technology Posts
    Previous Technology PostMultilingual AI analytics are key to unlocking the power of CX for business growth
    Next Technology PostHow equities traders can boost volumes and revenues through technology