Although today’s businesses have begun to slowly gravitate closer to digital file storage for their business record management, there are still plenty of businesses and situations that call for traditional paper.
In turn, it is imperative that as an owner of a business still utilizing hard-copy files, you also have a company policy for safely destroying your sensitive business documents.
A shred-all policy is an easy program to integrate and enforce—as soon as a file reaches its expiry date, it’s shredded and no longer a potential liability for a data breach.
By introducing a shred-all policy for company records that are no longer needed, businesses can stay one step-ahead of the threat of a potential data breach, as the destruction of confidential paperwork on a regular basis ensures that your critical records are gone before they have the chance to get into the wrong hands.
Ranging from the low document storage expenses to its easy-to-teach simplicity, there are plenty of reasons to adopt a shred-all policy for your company. While the list of benefits runs on, some of the foremost advantages of implementing a shred-all policy for your company include:
Avoid Negative Attention
As other business owners can learn from the 2014 example of the Department of Health and Human Services settlement with Indiana health network and provider, Parkview Health System, violating information security laws like the HIPAA Privacy Rule can cost your company dearly—in this case to the tune of $800,000.
For a business that has a large amount of company and customer information to protect—and lose—the responsibility of business owners to protect their company data and information becomes all the more critical.
With every employee you hire or customer you serve, the potential chances for a data breach increases, and with information security laws additionally tightening from a legislative perspective, establishing and regularly enforcing a shred-all policy for your company can save your business from a fate similar to Parkview Health System’s.
By ensuring that all company information and records are properly destroyed after they are no longer needed or useful, business owners can avoid the crippling ripple-effect of a serious data breach and becoming just another bad example of what not to do.
Eliminate Human Error Considerations
Although not a malicious threat to your business, unknowing or unfamiliar employees are also a risk to be kept in mind. According to a study done on the state of information security in business today, it was discovered that the cause of more than 30% of data breaches that have occurred in the past several years can be attributed to simple human error.
Whether the same employees greet you day-in and day-out at a small, family-owned business, or you are the head of a bustling and quickly expanding company that is looking to fill new positions daily, keeping things simple in terms of your document storage and destruction policies can benefit both you and your employees.
Not only will you and your workers be able to forget about the worry of a long-kept file leading to a massive data breach, a shred-all policy can help to boost efficiency by making your business a more organized and streamlined workplace.
Forget About Information Privacy Noncompliance
While there are plenty of advantages to adopting a shred-all policy for your company, another reason to stress the security of your hard-copy company files stems purely from the fact that information privacy is simply the law.
Both a company’s employees and customers are entitled to having their information protected from misuse, and to help ensure these rights are upheld, there are shredding laws and other federal or state data legislation that is strictly enforced.
A data-breach can be a costly mishap for a company—on average dealing around a $7 million blow to a business. With the implementation of a shred-all policy to manage your company records, you can help your company to stay one step-ahead of potential violations of federal laws like the Sarbanes-Oxley Act, which can add a $1 million fine and 10 years of imprisonment to the already unpleasant implications of a data breach.
Minimize Document Storage and Management Costs
When it comes to business primarily working with legal and financial documents that require hard-copy formats, old records and files can quickly begin to take up vital office space. With nearly 20 square feet occupied by single file cabinet, and alternative options like offsite storage still consuming resources to rent space, a simpler and less-expensive alternative is a shred-all policy for your unneeded documents.
By working to minimize the amount of paper documents your company has stored at any given time, business owners can minimize any document management costs they may have previously budgeted with the implementation of a shred-all policy for their business.
Get Free, No-Hassle Quotes On a Shred-All Policy Today!
Shred Nations specializes in helping you find the shredding contractor that can regularly and reliably shred all the information your business no longer needs. No matter whether you are searching for a quote on mobile shredding services, or needing to set up offsite shredding for your business, please fill out the form to the right, or give us a call at (800) 747-3365!
Within minutes of receiving your request, you will receive quotes from shredding contractors in your area in order to help you select the company that best fits your project or office.
Data breaches cost companies millions of dollars worldwide every year. This section can help you to understand more about reducing the risk of a data breach, ways hackers and identity thieves find your business information, and tips on how to ensure your business takes the proper measures if a data breach happens.