The importance of shredding business documents can never be emphasized enough. No matter how small or large your business is, you definitely need a firm policy about shredding business documents. Are you wondering why so much importance is given to this task? If so, consider following reasons:
- Identity Theft: When you are operating a business, specially a retail business, you will have tons of personal information about your customers; personal information such as their address, phone numbers and credit card information that they trusted you with. Now imagine this information leaking to outside parties. Imagine hackers having access to this information, and imagine what they can do with this information. What will be your customers’ reaction? Will they trust you again with their information? Of course not, and who can blame them for their reaction!
- Bad Publicity: If you discard your customers’ information unwisely in a dumpster and if media or your customers get a whiff about it, you are dead. Literally. If you don’t believe us, look at the history. Once a giant clothing retailer was crucified in public on the evening news when it dumped ten thousand debit and credit card numbers without any regard for its customers’ safety. Do we need to say more about it?
- Corporate Espionage: How bad your competitors want to know what is your strategy and what kind of contracts do you have? Are they interested about knowing the details of your loans? If they want it bad enough, they may bribe your employees or an outside party to go through your trash. Think about it.
Keeping in mind the above reasons, it’s always a wise decision to shred these documents before discarding them. Shredding of documents will make sure that you, as a business, and your customers are secured against any potential damage stemming from those documents.
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