Are you ready for Edouard? Check out your Disaster Recovery Plan
Are you ready for Edouard? Check out your Disaster Recovery Plan

As tropical storm Edouard approaches, you will undoubtedly find grocery stores and gas stations packed with people preparing themselves to be without power, water, and potentially fuel. Maybe this tropical storm will fizzle, or just dump some much needed rain in Texas and southwestern Louisiana. This is, however, a perfect opportunity to review your disaster recovery plan. As we prepare our homes, we should make sure that our businesses are also prepared for closures, power outages, or worse.

Disaster Recovery Plan

It is not too late to perform additional system backups to tape, CDs, or to servers in other geographic locations. If you don’t have a plan for backing up your key accounting records and master records (customer lists, vendor lists, employee information, inventory records, etc.), there is one question you’ve got to ask yourself . . . . “Do I feel lucky?” Well, do you?
If you don’t have a plan today, then make it a priority to start one. Periodically update it to account for changes in your business. There are many options for creating a plan ranging from having an outside consultant assist with creation and documentation to having your employees document their job performance procedures and having your IT department take home tapes every night.
Of course, adequate commercial insurance is integral component to disaster recovery. Most responsible business owners have insurance, but is it enough? Are disasters or acts of terrorism excluded? Make sure you know what your insurance policies cover and document the amounts and claims procedures in your disaster recover plan.
Remember, it is much easier to recover from a disaster if you anticipated and planned for it.
Disaster Recovery Plan

ARTICLES YOU MIGHT LIKE

The Accounting Gap Between Large and Small Companies

The Accounting Gap: It’s unfortunate, but true. A large gap exists between the accounting departments of large or publicly traded companies and smaller or private companies. In our past 25 years of consulting we’ve noticed that more often than not, these smaller/private companies will fill the gap with Bookkeepers, rather than the degreed Accountants/CPAs they

Read More »

The Struggles of Private Company Accounting

Building your Accounting Department… When I meet a business owner operating at a successful $10+ mil in revenue I often hear them say “My CPA…” and I immediately know they are referring to a tax CPA. One thing ALL entrepreneurs have in common is that they have to file a tax return. So from day

Read More »

What the Current Hiring Process Costs

It’s hard for companies to realize how much they are actually spending when it comes to hiring a new employee. Once they decide it’s time to pursue a new worker, a lot of resources are used to find the perfect candidate for the job. Finding the perfect candidate within a vast number of people might

Read More »

JOIN OUR NEXT SERIES

Financial Leadership Workshop

MARCH 28TH-31ST 2022

THE ART OF THE CFO®

Financial Leadership Workshop

Days
Hours
Min

June 12-15th, 2023

SHARE THIS ARTICLE
WIKI CFO® - Browse hundreds of articles