All of the businesses contains personally identifiable information. Whether it’s from your company’s employees or your clients, it is important to keep information private and secured in order to protect your business. Documents needed to be secured include client records, employee profiles, credit applications, tax forms, transaction receipts, medical forms, credit card files, and many more.
One huge threat to any business of any size in any industry lies in security breaches. If you think that your company is too irrelevant or small to absorb a data breach, let this data affect you. According to the Ponemon Institute’s 2017 Cost of Data Breach Study, the average total cost of the data breach for companies with a loss of fewer than 10,000 records amounts to $1.9 million. For companies who had a loss of more than 50,000 records, they almost average losing around $6.3 million.
Big or small data breaches will surely erase your company’s cash flow and smudge your hard-earned reputation – not to mention the time and effort it takes to go through road you’ll have to take in order get your feet back on track (that is if your company survives).
The Leading Cause of Data Breach
While a lot associate this type of incidents to cyber-attacks and hackers, the truth is that data breaches happen because of mishandling or improper disposal of the secured documents. Thieves and cyber-attacks will then come in place and use these paper documents for fraudulent activities.
There are surely a lot of papers surrounding your office that could be a threat to your company’s confidentiality. Who currently decides on what’s confidential or not: You or your employee?
Your employee could be your greatest asset or your biggest liability. A poorly-trained employee may leave your most important data vulnerable in a number of ways. Make sure to develop your office a holistic awareness when it comes to the best practices in data security. The following should be carefully re-evaluated by your management:
Secure your Business Documents with a Trusted Document Destruction Service
Diminish your company’s risk of data breaches by having a strict handling and document disposal policy. The best way to minimize the risks is to utilize a document destruction service that would help you ensure that your documents are disposed of in accordance with any regulations in order to keep you and your clients safe.
Investing in this idea would guarantee you and your business peace of mind and security compared to attorney and settlement fees.
Australian Waste Management’s document destruction service is packaged with waste management or archive collection, to greatly reduce professional costs and accomplish more things for convenience. Learn more about Australian Waste Management’s Secure Document Destruction Services: