Regardless of the industry and business size, today’s organisations operate in an age where they need to remain extremely vigilant about breach of sensitive information. Extra care and attention is required while dealing with client and employee information as well as confidential business-related data, particularly while disposing them. A well defined information destruction policy also helps organisations remain compliant with privacy laws. This is why secure document destruction should be a top priority for all businesses.
Mentioned below are some of the most important reasons for businesses to invest in secure document shredding.
Prevention of identity theft:
An identity theft or identity fraud takes place when personal information gets misappropriated or stolen for the purpose of impersonating a victim and reaping benefits from the same. According to recent records, the cost of identity crime in Australia is well in excess of $1.6 billion per year. This figure includes losses to business as well as individuals resulting from fraud and scams related to their identity.
Professional service providers have a continuous need to protect the data and identity of their customers. If this is not done appropriately, scamsters are extremely likely to take advantage of sensitive customer details such as names, phone numbers, addresses, and banking information.
It is important to remember that businesses that collect information from their customers are more likely to fall prey to identity theft. Not doing enough to prevent identity theft means leaving your door open for security data breaches and identity theft.
Business productivity and reputation:
Putting together a robust document destruction policy should not be just another routine procedure for your business because it provides a clear reflection of your commitment to protect the privacy of your customers.
The cost of identity theft and associated crimes can be colossal for any business operating today. When you implement a secure data destruction process, you will definitely earn return on your investment in the form of a better reputation as well as greater productivity. Your clients will definitely thank you for this good business practice.
Recycling and eco-friendliness:
Setting up a secure document destruction process with clear recycling policies also helps businesses do their part for protecting the environment and communicate their sustainability practices. By conveying that the protection of the environment is important to your business, you have an excellent opportunity to stand apart from your competitors.
Employee and business protection:
Secure document destruction helps businesses protect their intellectual properties and trade secrets that are written or printed on paper. These documents often include proprietary information that determines a company’s competitive advantage and even survival in the market. It also shields data belonging to employees from falling into the hands of wrong people.
In some instances, destruction of personal information can help businesses remain in compliance with local, state, or nationwide regulations.
Regular destruction of documents helps eliminating the cost of rubbish overhauling. It also protects businesses from paying expensive legal fines resulting from data theft and misuse by outsiders.
If you are serious about safe destruction of your business or personal documents, please contact us at Mastershred. We provide a wide range of equipment solutions designed for waste minimisation, security destruction, and recycling.