Have a record retention schedule so you know when you can shred documents.
What is a Records Retention Schedule?
A record retention schedule is a list of the types of documents created and received by a company and how long they should be kept. From financial reports, customer files, legal documents, contracts, emails, quotes, price sheets, and more there are many different types of documents to keep track of. Retention schedules list how long each record type must be kept, the retention period, and the proper way to securely dispose of the record once the retention period is over. Every business has documents and every document has a life cycle. The way you know the life of a document is by a Record Retention Schedule.
Why You Need A Document Retention Guide
Technology was supposed to reduce or eliminate the use of paper documents. That is not happening since 82% of businesses continue to print and store paper documents. The management of paper records is a multi-billion dollar industry. Many businesses prefer hard copy files because they feel it is just easier and more convenient. If you are one of those companies you need the assistance of a record retention schedule to manage your documents from creation to destruction.
Every paper record has a specific amount of time that it needs to be kept. This is called a retention period. Retention Schedules list the retention period and disposal method for each type of record. Once a document has reached the end of its retention period you’ll want to ensure they are securely discarded. To avoid identity theft, data breaches and protect sensitive business information, be sure to shred business records securely. For the highest level of security, opt to use an onsite shredding service like FileShred that will shred your records where they are located and provide you with a Certificate of Destruction to detail the date and disposal method used for your documents.
Consider Having an On-Site Shredding Bin
So now your record retention schedule is in place so what do you do when files exceed their retention period in the office? FileShred will provide you with a locked collection container for you to deposit documents in whenever a file has passed its retention requirements. Just have the bin shredded once per calendar quarter or whenever it has been filled whichever comes first. The bins remain on your premises for ongoing use.
Shredding At Your Storage Facility
The place where most of your older files will be that have pasted their retention period is where you store your paper records. FileShred will go to your record storage location with one of our mobile shredders and destroy your outdated documents there. We will shred where your files are located.
Review and Update Your Document Retention Schedule Periodically
With the ever-increasing regulations and legal requirements on businesses across all industries, it’s a good idea to review retention schedules and policies at least annually. By adjusting your retention period to accommodate your current record groups, you can reduce storage costs, retain only relevant business information, and shred obsolete documents.
By utilizing a comprehensive records retention schedule in combination with onsite document destruction services with FileShred you are more effectively managing your business records.