Document Storing vs Document Shredding: What’s Right for Your Business
Businesses handle a large amount of paperwork each day. There are tax forms and contracts, employee records and client files, all weighing down desks and filling up filing cabinets. Managing documents is part of your daily routine, but what do you do when the cabinets are full and your storage rooms are overflowing? How do you manage that chaos? The big question is: “Do I store this, or is it time to shred it?” Knowing when to retain and when to destroy documents securely can protect your company from compliance issues, security risks, and unnecessary clutter. Choosing a reliable and professional shredding company is the best way to ensure you’re doing what’s right for your business.
Tips to Help Decide What to Keep and What to Shred
Not every record should be kept for all eternity. But not all records need to be destroyed. Understanding the difference between when to shred and when not to will make your work life a little easier and bring you peace of mind.
Consider these suggestions:
- Know what should be stored and for how long: Certain documents must be kept for legal, tax, or operational purposes. In most cases, storing these files is not optional. It’s required by law. For those records you need to hold onto, keeping them in a secure, climate-controlled environment is essential. Generally, the following documents need to be stored:
- Tax records should typically be stored for seven years or as directed by your accountant.
- Employee records may need to be kept for four years after the staff member leaves.
- Contracts and agreements should be stored for the length of the contract and a few years afterward, or as suggested by your attorney.
- Don’t keep it if you don’t need it. You take some risks when you store documents that are no longer required. Holding onto sensitive paperwork past its retention period can make your business vulnerable to identity theft, legal liability, and compliance violations. If you have documents that are no longer needed for legal, financial, or operational purposes and contain sensitive data, you should have them securely shredded. It’s also important to destroy digital storage media, such as hard drives, USB drives, and CDs. Simply deleting files is not enough to keep your data safe. Records you should destroy include:
- Outdated customer or employee records
- Old invoices or payment information
- Expired contracts or proposals
- Medical or legal files that have passed retention deadlines
- Find the balance between storing too much and shredding too soon: You may easily fall into the trap of keeping everything “just in case.” However, over time, you will end up with clutter and expensive storage costs. On the other hand, you may get into a cleaning frenzy and shred documents too early before they’re legally allowed to be destroyed. That will put your business at risk. Partnering with an information management company can help you avoid these common mistakes and strike a balance in your document retention needs.
Storage and Shredding Solutions from Crown Information Management
Choosing between storing and shredding doesn’t have to be confusing. Crown Information Management offers comprehensive solutions for managing your paper and electronic records, including routine shredding, one-time purge services, secure digital media destruction, and document storage and indexing. Our services meet the highest security standards and include a Certificate of Destruction for your records. Don’t take chances with sensitive information when dealing with stacks of paper or aging hard drives.
For experienced help with media destruction, scanning, indexing, shredding, records management, and document storage, call Crown Information Management. You can reach us at 800-979-9545 or contact us online to learn more about our services. Put our team to work for you. We are a SOC1, NAID AAA, and PCI-certified company.