Shredding old business documents is important as it allows for safe disposal and it helps with your document management.  

Within this article we are going to talk about why you should shred old business documents and the benefits this has. 

The Importance of Proper Document Management for Business Security

Protecting Sensitive Information

Within your business there will be many documents that contain sensitive information. This will include documents such as your financial records, the personal data of your employees and/or, depending on your business, the personal information of your customers. 

The impact of data breach or information theft from these types of documents can be catastrophic. Common consequences include financial loss, reputation damage, operational disruption and monetary penalties (if you fail to comply with data protection laws). 

Proper document management, including shredding old documents, can help to prevent data breaches and keep your business running smoothly. 

Compliance with Legal and Regulatory Requirements

There are many laws and regulations in place to make sure that people’s personal data is protected. The General Data Protection Regulation (GDPR) is one such regulation and it offers individuals strong rights which give them more control over their personal data. It also gives businesses the obligation to implement appropriate security measures when it comes to the data they have within their business. 

One part of these regulations is the secure destruction of confidential documents, with one of the best ways to comply with this being shredding old business documents. 

There are severe sanctions for those who do not comply with these regulations. Data controllers or processors who violate data protection rules can face fines of up to €20 million or 4% of their global annual turnover.

Secure Document Management

As you can now see, secure document management is extremely important for your business. Anything short of this can lead to hefty fines and losing your customers trust which could ultimately lead to the end of your business. 

Environmental Benefits of Document Shredding

Along with secure document management being good for your business, there are also environmental benefits of shredding your old business documents. 

Recycling Shredded Documents

Although it is important to shred documents to meet GDPR regulations, shredded paper is not easily recycled. 

The majority of recycling centres do not accept small strips or bits of shredded  paper. The large-scale recycling facilities use large screens to dry pulp paper on, where small paper pieces fall through the screens. If you put paper shreds in an office or home recycling bin, they will most likely end up in landfill. Everything placed in a recycling bin gets sifted through and separated into plastics, papers, metals and items that can’t be recycled, including shredded bits of paper.

You could instead add it to a compost bin, as long as the paper is not glossy. Or you could use it as packing material or pet bedding.

Some recycling centres do accept it but it can be a security risk as paper can be pieced back together. Using a large scale shredding company could combat this risk as they produce large bales of shredded paper that recycling facilities can easily manage. 

Cost and Management Benefits of Document Shredding

Shredding old business documents can also have financial benefits. Within this section we will talk about these benefits. 

Reducing Storage Space and Management Costs

Shredding old business documents can help you to lower your business costs as you will have less documents which will, in turn, reduce your physical storage needs. 

Enhancing Efficiency and Productivity

Reducing the old business documents you have within your office will also lead to a less cluttered workspace. Clutter is known to affect productivity and focus so having less of it will improve the efficiency and productivity within your business. 

How to Implement a Shredding Policy in Your Business

Deciding What Documents to Shred

There are many different kinds of documents within a business so it is hard to know which ones you should be shredding. This is a list of the documents that need to be shredded:

• Documents that contain financial transactions or sensitive details about people such as: bank account details, salary documents, budget documents, tax returns, sales receipts/contracts etc.
• Company documents that either guide business operations or describe the company’s structure and distinguish it from competitors such as: company structure documents, pricing structures and supplier information.
• Key employee documents should always be shredded when no longer needed such as payroll, addresses, medical information and employment record. 

Choosing a Shredding Service

When it comes to shredding, you can do it yourself within your office or workspace but you must make sure to dispose of the shredded paper in a safe way. 

Hiring a shredding service is a good option because you know that you will be getting a reliable and professional service. When you begin looking into shredding companies make sure to check reviews so you pick a service that offers secure and reliable shredding services. 

Should You Shred Old Business Documents? 

The answer to this is yes. You must shred old business documents to comply with data protection regulations. It is also highly beneficial for your business as it will alleviate the need for excess amounts of storage. 

We encourage you to assess your current document disposal practices and consider using a shredding solution as it is a secure way to dispose of sensitive documents.

If you run a business and find yourself in need of document storage, please click here for more details on our document storage and to find your local store.