Cintas Provides Tips to Securely Shred Unnecessary Files in the New Year
January 03 2011 - 10:37AM
Business Wire
The New Year is typically a time for personal resolutions, but
it’s also a great time for businesses to review and improve their
operations. To help businesses begin 2011 in an organized fashion,
Cintas Corporation (NASDAQ: CTAS), the leader in secure document
management services, today issued tips and general guidelines for
record retention. Organizations often hold on to records that are
no longer needed. These records take up valuable storage space and
cost money that could otherwise be saved. Adhering to a retention
schedule helps businesses operate more efficiently to save time,
money and space.
“While it may seem easier to keep everything, this is actually a
losing strategy,” said Sarah Koucky, Senior Director of Security
and Compliance for Cintas Document Management. “Saving unnecessary
records costs both time and money. By setting retention schedules
and policies, organizations will remain compliant with government
regulations and can expedite the destruction of out-dated records
to ensure a clutter-free system.”
The following retention schedule is a general recommended
guideline for certain files and documents. Please consult your
legal advisor for specific retention schedules appropriate for your
business and records.
- Accounts payable – 7 years
- Accounts receivable – 7 years
- Audit reports – Permanent
- Bank reconciliations – 3 years
- Bank statements – 7 years
- Cancelled checks – 7 years
- Electronic payment records – 7
years
- Employee files (ex-employees) – 7
years
- Employment applications – 3 years
- Employment taxes – 7 years
- Expense reports – 7 years
- Financial statements (annual) –
Permanent
- Insurance policies – Permanent
- Leases/Mortgages – Permanent
- Loan payment schedules – 7 years
- Payroll/Labor records – 7 years
- Purchase orders – 7 years
- Sales records – 7 years
- Tax returns – Permanent
It is important to safely and securely dispose of all documents
that are no longer needed. With identity theft and data breaches on
the rise, doing so will protect confidential information from
falling into the wrong hands. Many organizations use a secure
shredding service that destroys business documents onsite on a
scheduled basis. These companies place secure storage containers in
accessible and identifiable locations to make it safe and
convenient for all employees to properly shred documents.
In addition, businesses that have a large volume of records with
long retention rates but limited space can consider an off-site
storage and imaging provider. This will free up space and ensure
all electronic and physical records live in a secure environment.
All documents can be retrieved on-demand and properly destroyed if
required.
“Businesses accumulate millions of records and documents
containing sensitive customer and business information every year,”
said Karen Carnahan, President and COO of Cintas Document
Management. “January 2011 is the perfect time to conduct a secure
document shredding purge to organize and improve business
operations.”
Cintas is the first North American AAA NAID-certified and PCI
DSS compliant document management provider. Cintas provides
cost-effective document shredding, storage and imaging programs.
Its services are designed to provide businesses with data privacy
and security, compliance with regulatory requirements and greater
control and access to information.
For more information regarding a document management program,
please visit www.cintas.com/documentmanagement.
About Cintas Corporation
Headquartered in Cincinnati, Ohio, Cintas Corporation provides
highly specialized services to businesses of all types. Cintas
designs, manufactures and implements corporate identity uniform
programs, and provides entrance mats, restroom supplies,
promotional products, first aid and safety products, fire
protection services and document management services to
approximately 800,000 businesses. Cintas is a publicly held company
traded over the Nasdaq National Market under the symbol CTAS, and
is a component of the Standard & Poor's 500 Index.
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