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Globally, data experts predict the amount of data created will exceed 180 zettabytes by 2025, with this exponential growth growing unabated. The impact of this is maintaining control. Controlling your own data means paying attention to the defined digital and physical document lifecycle.
The importance of shredding documents in the data lifecycle can’t be understated as part of your document processes. With that in mind, here’s what you must know about the secure disposal of sensitive information and the benefits of professional shredding services.
Data destruction is a critical part of the data lifecycle because keeping everything forever presents organization and compliance risks. For example, did you know that 25% of poorly filed documents will never be located by businesses? And if they are located, there’s a chance they’ll be found by the wrong person.
So, why shred documents? It’s about defending your business from financial losses, reputational damage, loss of trust, and legal issues. Yet countless businesses are unaware of the data theft and fraud risks of not having a proper shredding process.
Business owners often pay attention to cybersecurity but ignore the risks of a criminal picking a sensitive document out of the garbage. It’s startling that 45% of printed paper daily is still just thrown in the garbage.
But what business documents should be shredded?
All of the above have specific retention periods – often mandated by law. For example, the IRS recommends holding onto employment tax records for at least four years.
Remember, some documents, such as incorporation and internal financial records, should be kept forever. Likewise, the importance of shredding documents doesn’t extend to items that don’t contain sensitive information. For example, you don’t need to worry about securely shredding the draft design for the office Christmas party invitation.
The importance of shredding confidential documents through professional paper shredding services extends to protecting the future of your business. If you’re wondering, “Is it really necessary to shred documents?” here are the consequences arising from not investing in secure document disposal:
Paying for document shredding services may seem like another expense, but the consequences of not making this investment could be catastrophic. See it as less of an expense and more of an investment in your organization’s future.
Old-fashioned paper shredding might not sound like the most glamorous solution for how to protect your identity, but it’s one of the most effective ways of protecting your physical data from unauthorized disclosure.
Paper shredding offers countless benefits to businesses, including protecting your information, ensuring legal compliance, and giving you peace of mind. Let’s discuss why professional shredding will be the best investment you can make this year.
The news is perpetually littered with the broken reputations of companies that did something stupid and found themselves with a massive data breach. Most data breaches aren’t especially sophisticated but arise from simple mistakes that were overlooked.
It could be a bug in a new app, a poorly updated cybersecurity platform, or a single sheet of paper thrown in the garbage at the back of a building and then extracted at a recycling center. Anything with personal or confidential information represents a risk. By shredding all physical documents, you protect your clients and ensure your company isn’t in the news cycles for all the wrong reasons.
All companies are legally obligated to comply with data security and privacy regulations to protect consumers and employees. Certain industries must comply with even more red tape, including the medical, legal, and financial trades.
For example, the medical industry is bound by the Health Insurance Portability and Accountability Act (HIPAA), with violations running into the millions of dollars.
Professional shredding services ensure that you comply with the latest incarnations of privacy regulations because the companies who provide these services update these services to guarantee ongoing compliance.
Data security is a constant headache for businesses, with the business community investing countless dollars into defense and compliance annually. Gain peace of mind by employing a professional document destruction company.
Instead of worrying about your shredders and ensuring that your employees regularly shred and shred correctly, let the professionals handle it for you. With this approach, you get to spend more time on growing your business and less on worrying about who’s rummaging around your garbage cans.
Selecting the right shredding service is essential because not all brands are created equal. Some of the points to consider include on-site vs. off-site shredding, reputation, security procedures, effectiveness, and history.
With so many providers in the market, it’s as much a headache to find someone reliable as it is to simply do it yourself. If you don’t know where to start, here are some questions to ask:
Take the time to do your research and speak to your provider in detail about their document destruction services before proceeding.
DIY shredding is the perfect example of a false economy. It may seem cheap and easy to deploy, but in the long run, you’re losing out on several fronts to professional services.
Here’s how professional services excel over DIY shredding:
to prove compliance, costs more over time, and takes away from the productivity of your team. Compared to professional shredding services, there’s no genuine comparison between the two.
Document shredding isn’t a matter of tearing up a piece of paper and hoping for the best. It’s a science that enables businesses to comply with the law – but only when done correctly.
Putting proper processes in place is critical for shredding properly. Generally, anything containing personally identifiable information or anything sensitive must be shredded. Each type of document will also have its own lifecycle, requiring an established retention schedule before being destroyed.
Follow these tips for maintaining a regular shredding schedule:
As your company grows and industry regulations change, document shredding protocols have also adapted. How knowledgeable are your employees about these practices?