ShredQuick Blog

Does an Orlando Business Need a Records Retention Policy?

An office worker sitting at a desk working on a computer in front of a large bright windowAs a business owner in a bustling city like Orlando, there are so many details you have to think about in order to see success in your industry. One of the most underrated details of running a business is the records retention policy.

What Is a Records Retention Policy?

A records retention policy, also known as a data retention policy, is a business protocol that’s created in order to keep sensitive company and individual information safe and organized.

When running a business, there are many different types of important documents that you’ll need to keep protected in order to maintain working relationships with clients as well as other businesses. That’s why the most organized Orlando businesses prioritize having a descriptive records retention policy in place.  

Whether your company keeps paper records of all of your contracts, receipts, and other documents or automates all of this information in a database, it’s important to have protocols surrounding how this data is stored in order to prevent employee error and accidental breach of private information.

Benefits of a Records Retention Policy for Your Orlando Business

There are many distinctive benefits to be gained when you create a detailed records retention policy for your Orlando business. When you have a records retention policy in place, your company is less likely to become responsible for fees related to poor compliance practices. 

These fees can apply when an auditor requests business information that you didn’t retain because you only saved the minimally required data.

Though a records retention policy can ensure that important information isn’t destroyed or lost, it can also ensure that old and irrelevant data is removed from your physical or digital storage at the proper time.

In this way, having a records retention policy in place can actually reduce clutter in your data storage as well as prevent personal information within old documents from becoming breached in the event of a hack or theft. 

Plus, if your organization stores data digitally, you’ll be able to pay less for your data storage as you reduce the number of irrelevant files being stored.

Protect Your Private Data with ShredQuick

An important part of any records retention policy for an Orlando business is destroying physical copies of documents after they’ve been digitized or once they become irrelevant. Call ShredQuick today to learn more about our same-day business shredding services.

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