5 Types of Internal Documents that Require Discreet Handling and Disposal by Businesses
- Posted by: Ricardo Delfin
- Category: Other
Throughout the natural course of business, all companies depend on transactions to achieve a variety of goals. And transactions automatically involve exchanges of information. When transactional information is recorded on paper, businesses should be organized enough to prevent their theft and misuse. This necessitates keeping track of paperwork in a structured way, and disposing of obsolete paperwork meticulously:
Companies Should Protect Their Customers’ Privacy:
Business Attorney Melissa C. Marsh explains that, “The law requires businesses to implement policies and procedures to effectively dispose of consumer information. The Federal Trade Commission (FTC) specifically suggests burning, pulverizing, or shredding of papers containing consumer information, so the information cannot practicably be read or reconstructed.” Here are a few prominent examples of documents that businesses should handle and dispose of with care:
1. Financial Statements:
Businesses interact with banks constantly. And statements generated during these interactions are teeming with sensitive information. Printed financial statements should be filed securely, and shredded thoroughly when disposal is necessary.
Printed emails in business often contain confidential or strategic conversations. When emails are printed, they should be shredded thoroughly when disposal is necessary.
3. Payroll Records:
Payroll records are probably the most sensitive documents a company can archive. They simultaneously contain employee, and company information. They’re also crucial for organizational tax-compliance. Payroll records should be filed securely, and shredded thoroughly when disposal is necessary.
4. Receipts, Invoices and Order-Confirmations:
Receipts, invoices and order-confirmations not only contain financial information, they also contain chronological details of a business’s activities. These documents are often required for tax-compliance as well, so they should be filed securely, and shredded thoroughly when disposal is necessary.
5. Blueprints and Research Documents:
When companies work on ambitious projects, or growth-related research, they often produce blueprints and reports which are rich in top-secret information. Such documents outline operational strategies, so they should be filed securely, and shredded thoroughly when disposal is necessary.
Small business owners are often so focused on executing sales that they develop tunnel vision about best practices. Especially best practices that have to do with procedural safeguards. Disposing of documents is critical to long-term stability within a company. It reduces exposure to criminal attention. If you like what you just read from our blog, you’ll love the various informative courses, workshops and events listed on our websites and social media. Whether you’re interested in personal development, or overall improvement of your business, give us a call at 1 (800) 913-0222 to find out how NowRise can help you break past your daily struggles and start soaring in success.