Don’t kid yourself. If you’re in business, you have sensitive information. Whether it’s your business’ EIN number, your employee records, customer information or your financial records, it can all be sued against you. Here are 5 reasons why you should shred.
1. Protect Your Customers. Have you ever received an offer to monitor your credit for a year for free from a large firm or entity that’s been hacked? It’s only free to you. When your customer data is compromised whether on the Internet or through a paper trail, it’s going to cost you both cash and customers. You’ve spent a lot of time building customer trust and loyalty, but it can be lost very quickly. If you have data – especially credit card numbers – written down or on a hard drive, both the paper and the drive should be destroyed when they are no longer needed.
2. Prevent Identity Theft. That’s the danger for your customers, your employees, you and your company. Think it can’t happen? In 2012, over 16 ½ million U.S. residents over the age of 16 were victims. A survey showed that businesses and financial institutions lost almost $48 billion in the last five years. Business identity theft can lead to the filing of false tax returns, the creation of credit accounts in your business’ name or fraudulent credit card accounts using your business’ good credit. The danger is real. You want to completely destroy all financial documents when you are finished with them.
3. It’s the Law. You may already be mandated to shred and to shred to a certain standard (for example, meeting HIPPA requirements). Laws protecting people’s privacy and security have become more rigorous – a trend that you can expect to continue.
4. Protect Your Employees. You couldn’t do business without them and odds are you have a lot of personal information on your employees from old pay stubs to health records. You may even have an electronic or paper copy of a social security card. You expect them to work hard for you; they expect you to protect them.
5. Save Space. Paper, paper and more paper. If you’re trying to store sensitive documents under lock and key, you’re taking up a lot of space. Consider some alternatives. Many companies who shred for other businesses also offer services like document scanning so you can shred. Some even have document storage to keep your paper safe. Wouldn’t you like more space?
It’s a business-to-business plus! Contact an on-site shredding company and ask about the services they provide. You’ll probably find that in addition to providing locked, secure storage between shredding, they offer shredding to meet any mandated standards, hard drive destruction, document scanning and document storage. They usually can shred, destroy hard drives and even scan right at your business so you know that the job has been done right. Protect your paper – protect yourself. It’s just good business.