When a company’s paperwork is all said and done, where does all that paper go? It depends on the company – some smaller companies laboriously send their former work through purchased paper shredders, or they take these immense stacks of documents to an onsite paper shredding plant.
Some home paper shredder models cut documents in strip form which could easily be put back together by the dedicated information thief. These shredding plants destroy documents entirely, completely removing any possibility of putting the documents back together. At that plant, the documents are mulched up and then become a pulp by-product that can be used for many other consumer goods.
As an owner of a company or the owner of some delicate information, you will want to destroy old financial records without having to spend countless hours of feeding sheets of paper through subpar home devices that can clog up at any time. Besides, on-site shredding is much more reliable than in-home shredding. Business documents can be dropped off at an approved site for convenience. If this isn’t reason enough to invest in an on-site paper-shredding solution, here are a few other considerations:
1. It will protect your business’ sensitive data from security breach
Any document your business produces that includes a name, address, phone number, social security number, or business bank account information are documents that you may want to consider shredding. This sounds pretty broad, but you can narrow it down to bank statements, ATM receipts, voided cheques, credit card paperwork, investment documents, password or PIN number information, employee pay stubs and employment records (including employee ID badges), legal documents, and other sensitive information. Any document that another person can get a hold of and commit identity theft is a document that should be shredded.
2. Business information shredding is required by law
Did you know it is illegal not to shred sensitive information? In fact, it is required by federal regulations like HIPAA (Health Insurance Portability and Accountability Act), FACTA (Fair and Accurate Credit Transactions Act), SOX (Sarbanes-Oxley Act), and GLB (Gramm-Leach-Billey Act). Failing to adhere to these regulations and acts often result in steep fines and penalties – so you’ll want to look out.
3. Shredding encourages a healthier environment
Remember when we mentioned that all shredded paper gets baled up into paper product mulch that is reused as consumer products? This process keeps paper out of landfills and puts this potential waste to far better use like newspaper, paper plates, Sheetrock, cat litter, phone books, and other common consumer products.
4. Shredding hard drives is part of the job
Some on-site services also offer hard drive shredding which can effectively eliminate old physical hard drives so that the files cannot be recovered. It’s not enough to just delete old files, in fact, that could cost your company a large sum of money in a security breach. To keep your sensitive business information from being hacked, you will definitely want to consider shredding an old hard drive. Hard drives are not the only data-storing physical gadgets that your business should consider shredding: you will also want to consider shredding back up tapes and other mobile devices.
Now that you have an idea of why shredding old documents is important for your business, you should consider an on-site shredding solution. Protecting your business from identity theft , avoiding legal issues, and keeping a clean and organized office are all worthwhile investments.