Since the beginning of time, natural disasters have caused havoc to people and the areas surrounding them. Right now, Hawaii residents are dealing with the latest eruption of Kilauea Volcano. “According to the National Oceanic and Atmospheric Administration, there were 16 severe weather events that each cost the US $1 billion or more in 2017, ranging from wildfires in California to a tornado outbreak in the Midwest.” reported by U.S. News. While Kilauea Volcano is known to be an active volcano, not all natural disasters are as predictable.
If you knew you had 24 hours to pack and evacuate your business, how well would you be able to recover from the storm after it passed? The U.S. Small Business Administration offers a checklist to aid businesses in creating a disaster preparedness plan. Would you take your computers, servers, and other expensive equipment? When is the last time your data was backed up? What if your own home was at risk also, would any of these things matter?
Unfortunately, some business owners have to make these difficult decisions. Insurance will cover the damage, right? Not always. You can file a claim for your computers and furniture. But if your filing cabinets lining the walls in your office aren’t fireproof or otherwise protected, those paper files are gone. Yes, you should be able to retrieve your latest CRM backup and be up and running. What is that paper worth anyway?
Why do we keep paper files?
If you look around your office and think about all of the paper that you hold onto, file, retrieve, and refile, what makes it all so important? It’s taking up enough space to build another office, for that matter.
The bread and butter of your business is enclosed on your sales documents. Can you reprint hundreds of your customer’s signatures on purchase orders? How long will it take you to replace all of the financing documents collected for each customer’s POI for the financing that was in process when the storm hit?
That credit app comes in handy when you want to finance your customer for that new car or other big ticket item. But should you keep it even if the sale doesn’t go through? When your customer calls 2 months down inquiring on a credit check, what document will you have to refer back to?
Maintaining proper financial records is essential for every business. It keeps you honest, the ability to manage your business financially and off the radar of the IRS. Income statements, bank deposits slips, bank statements, it’s all necessary for the Accountant to handle the books and file your taxes at year end.
Do you have the proper insurance in place for the storm that is predicted to shake the county? If so, is it stored readily accessible in an emergency?
Your check register may show all of the checks printed to each of your vendors and the amount paid. How comprehensive is the information stored online? Does it include all of the invoices paid, specific notes on the job? Often times it’s easy to overlook the details we jot down on our invoices until we are searching for them later.
You have contracts for all of the vendors who do work for you. Do you have a collected record for them or do you rely on the vendor to keep them for you? Be in control of your contracts by filing them together and reviewing them annually at a minimum. Doing so will keep you both accountable for the agreement in place.
Employee Files / Payroll Files
The EEOC requires that you hold employee files for all of your workers. Are you in compliance with the EEOC for hiring practices? How will you avoid a lawsuit from the employee with poor performance if there is no file to document the repeated warnings? Your employment claim could result in a dispute over unpaid overtime, and without proper proof you could be held responsible for paying lost wages to your disgruntled employees.
As a leader in your business, it’s essential for you to be prepared. Being prepared may include having a sales plan for your staff, how to handle customer disputes, or planning the financial future of your business. Getting your business prepared for a natural disaster includes having a plan for your paper files. Take the worry out of maintaining manual backups and what if’s for your paper files by implementing a document storage solution.
A leader in the industry, Scan123 is a document scanning and storage solution. We will ensure you are prepared for any disaster with 256-bit, Military grade encryption for your files. Once your documents are sent to the cloud, they are continually backed up with geo-redundancy. This means that even if the “next big earthquake” strikes the west coast, your files are still safe in the cloud.
Scan123 is an inexpensive document management solution for the peace of mind that comes with disaster preparedness. We offer a 45-day Right to Cancel. If Scan123 does not meet your business’ needs, we will refund your money and buy back your scanner.
We are happy to answer all of your questions. Request a Demo.