Being prepared for a disaster that could devastate your business — like a fire or flooding — can include having things like fire extinguishers, floodgates, first aid kits, safety procedures and evacuation plans.
A list of contents is also a vital item to have in your business disaster recovery plan. You should create a detailed list of the contents of the business. This will serve two purposes. Firstly, it will help you if your contents are destroyed and you need to make an insurance claim. Secondly, it will help you assess if you have adequate insurance cover in place.
We are not just talking about your stock. You probably carry out regular stock-takes as part of your accounting procedures. But how valuable is everything else? Think about machinery, IT equipment, computers, furniture, kitchen or canteen areas, stationery etc.
There a different ways to make your inventory list:
- Make a Checklist
With a pen and paper or on a PC, make a list of everything in the business. The checklist should include:
- The type of item
- The original price of the item – include the receipt if possible
- The year the item was purchased
- The serial/model number, or any other identifying information
Whether your list is in paper format or digital format, make sure to keep copies off the premises.
- Take Photos
Take photos to create a visual record of your contents:
- Take pictures of entire rooms
- Take pictures of individual items
- Label each photo and include important information, serial/model numbers or any other identifying information
Whether your photos are printed or in digital format, make sure to keep copies off the premises.
- Make a Video Recording
Recording a video of each area of your business can be a straight-forward way to document your contents:
- Narrate as you record, describing each item
- Narrate special features, the condition of the item, serial/model numbers
Make a duplicate of the recording and keep a copy off the premises.
Our advice is to take time to make your list, however you make it. Being proactive now can help to protect your contents.