The rise in privacy concerns, and the resulting laws and regulations, have made office record storage a top priority for every company. One small misstep can snowball, putting the entire company in jeopardy.
While it is obligatory and advantageous to keep your company records well-documented and available for everyday use, retaining these records beyond their usefulness can expose businesses to litigation risks or data breaches.
In the world of records storage, you’re always walking a fine line between retaining the wrong information and destroying required documents. The solution to this problem is beyond the scope of just this article. However, there are records management services all across the country that have expertise in this very delicate matter.
What Is a Business Record?
A business record is defined as information that is stored for a set period of time for regulatory, business, or legal workings.
How Long Should You Keep Business Records?
Typically, you should keep any tax records for 6 years after filing. Although the IRS maintains that you keep your supporting tax records for 7 years.
Other business records, including client information, employee records, and financial documents, should all be kept in secure storage that is accessible only when you need them. The next step is properly destroying these records when they expire. Utilizing a regular shredding schedule for old and unneeded records is crucial to keep this information protected.
Off-Site Document Storage Explained
For a space-saving solution for records management, off-site file storage services may be the answer for your business. A climate-controlled facility with 24 hour surveillance stores your files. Thus, creating a safe and sustainable environment for your papers.
Off site storage saves precious real-estate in the workplace. The extra space can increase productivity while your files are kept secure. You can even request on-demand retrieval services to have your files delivered to you when you need them.
Methods of Destroying Records Properly
Shredding is the most commonly accepted way to properly destroy your records. Paper shredding services specialize in destroying large volumes of papers at once, making the entire process fast and easy.
There are two main ways to shred papers for your business at a large scales:
Mobile shredding is a convenient process. A mobile shredding truck comes directly to your curbside and shreds your papers on site. You can even witness the entire shredding process, for personal or legal reassurance. You will then receive a certificate of destruction following the procedure.
A certificate of destruction can help protect your business in case of legal action or an audit. It will include details from each step of the shredding process; including chain of custody, witnesses, and a time stamp.
For regularly scheduled shredding service or for large volumes that can’t be handled by a mobile shredding truck, choose off site shredding services. Here, a secure truck will pick up your papers in bulk, stored in locked boxes, and transport them to an off site shredding facility.
You can also request a certificate of destruction when the process is complete.
Get Free Quotes on Business Records Management Services Near You!
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