Corporate Espionage Does Exists
It’s not something straight out of a James Bond thriller. It’s something that exists in the real world of business. Corporate espionage does happen — whether by hook or by mishap, employees, competitors or hackers can distribute information about your business model that damages your company’s reputation or ability to serve customers. One piece of information most companies guard is price lists; shredding price lists is one way to protect your business.
Why Shred Price Lists?
Likely, your price lists don’t have the type of confidential information that leads to identity theft, but they still contain business data worth keeping secure. Shredding old price lists instead of storing them or throwing them away removes the chance that out-of-date documents are circulated. Old price sheets can confuse customers and employees, causing problems in sales, invoicing and collections.
Even new price lists should be guarded somewhat carefully and unnecessary paper copies shredded. A list of all prices or fees in the hand of competitors could result in someone undercutting your prices in order to steal business. Price lists falling into customer hands can reduce your ability to negotiate with potential clients.
Other Business Espionage Tactics
Shredding price lists isn’t the only way to protect your business. Other corporate espionage tactics include bribery, eavesdropping, hacking, stealing documents and tapping phones. Business owners should be mindful of security by:
- Keeping sensitive information to a need-to-know basis
- Training employees to protect data with regular shredding
- Taking precautions and being vigilant about potential security leaks and risks.
Though there’s no reason to turn every corner with suspicion, business owners should certainly round corners with care. Shredding price lists — as well as other sensitive business information — just makes sense. Our clients have found that an All Shred policy makes it easy for employees to comply while limiting liability and exposure.