30 Jan Adapting to Technological Shifts: How Corporate Shredding Services are Expanding to Electronic Media
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in Money Saving Tips
Document retention and disposition policies should be updated every year. Since retention and disposition obligations vary from industry to industry, seek the advice of your accountant and/or attorney. Track final disposition dates in your document retention policy so records are promptly destroyed at the end of their retention period.
Historically focused on paper, the shredding industry has now evolved into the broader domain of information destruction, encompassing electronic media. The decline in paper usage has been gradual, but the rise in electronic data storage on devices like PCs, laptops, and cell phones has opened up a significant market for hard drive destruction.
Companies like On-Site Confidential Shredding provide comprehensive shredding services, including paper and electronic media destruction. These services are tailored to the specific needs of medium and large-sized businesses, ensuring compliance with privacy laws. Additionally, management reports, consolidated billing, and a centralized support system form part of the comprehensive service package offered by these companies.
Businesses handling confidential and sensitive information are subject to various information security laws like GDPR, Sarbanes-Oxley Act, PCI Security Standards, FACTA, and the US Patriot Act. These regulations necessitate stringent data destruction policies, where companies like On-Site Confidential Shredding play a critical role in ensuring compliance. Learn more at www.ftc.gov
The shredding industry, particularly in North America, is experiencing a steady growth rate, with key players actively participating in this market segment. This growth is fueled by the need for secure destruction of both paper-based and electronic documents. The industry is adapting to technological advancements, offering safer and more efficient methods for information destruction.