You may believe that do-it-yourself in-house shredding is the more cost effective way to destroy sensitive documents, however, the reality is that this will only increase the data security risks– and ultimately, could cost you more.
When a company’s employees are tasked with shredding documents themselves, not only does this increase room for error, but it also takes time away from an employee’s daily responsibilities and decreases their productivity.
Here are a few reasons why it is best to hire a trusted and proven provider, like Shred-it, when it comes to disposing confidential documents:
- Cost. An in-house shredding machine may seem like the cheaper solution, but don’t forget that beyond the upfront costs to purchase the machine, there are also ongoing maintenance fees. This also doesn’t include the cost of designating an employee to take on shredding duties and learn the proper way to shred documents safely.
- Time. The task of manually shredding office documents is no easy feat. Since most office shredders are not able to shred through anything but paper, employees must remove paper clips and staples, arrange documents into easily shredded small stacks and manually feed paper into the machine. Once this is complete, they must also remember to empty receptacles as they fill up, remove any spillage and put shredded paper into the garbage.
- Employee Productivity. Not only is in-house shredding timely, but it takes employees away from their real jobs which amounts to an increased spend. For example: if five employees spent five minutes per day shredding with the average hourly wage, this could potentially equate to a monthly labour cost of $307.35 and an annual bill of $3688.20.
- Data Breach Risk. Employees who are not properly trained on information security best practices or how to handle confidential documents, put a company at a much higher risk of experiencing a data breach. Additionally, inexpensive in-house shredders typically produce strips that can be reconstructed.
A 2018 Ponemon report showed that the average cost of a data breach globally is $3.86 million, a 6.4% increase from the 2017 figure. The importance of properly disposing confidential documents cannot be overstated. Using a professional shredding service will better protect your business from a potentially devastating data breach.
To learn more about how Shred-it can protect your documents, please contact us to get a free quote and security risk assessment.