Business Inventory
"Could your business survive a major emergency? Businesses that recover quickly are those that have planned in advance." Insurance Information Institute.
A detailed business inventory provides critical documentation that keeps a business prepared and protected. It plans for the unexpected as it keeps the business ready with the required documentation if damage or theft were to occur and provides required information that is to be documented within a Business Continuity Plan (BCP).
Be prepared for insurance claims.
Planning in advance and being prepared if damage or theft occurs to your business, greatly impacts the timing and settlement amount of your insurance claim.
- A detailed list of all items destroyed, damaged or stolen is required for each insurance claim.
- An existing business inventory means your claim can be submitted within 24-36 hours vs. weeks or even months.
- It maximizes your claim as it validates your proof of ownership and value.
Be prepared with a Business Continuity Plan.
A business inventory is a crucial component of a BCP - a plan that will improve a company's chance of continuing operations through any type of interruption such as natural disasters, power failures, and IT crashes.
- "Document your critical equipment" is a crucial step in a BCP. An outcome of a business inventory is a detailed report of your business assets which includes critical equipment.
- A business inventory provides the requirement that all equipment that is owned or leased is documented by type, model, and serial number.
- An inventory including photos and video of your business assets support the recovery phase because you have the required documentation to begin the claims process.
- Contains copies of critical documents that would be necessary to reference during the recovery stage.
Additional benefits of a Business Inventory:
- Validates and expands the Statement of Assets.
- Ensures you have the correct amount of insurance coverage.
- Captures items that can be claimed as depreciable assets which are often missed on a capitalization or depreciation schedule.
We can also assist with your Business Continuity Plan. Don't wait until you are in the recovery phase to develop this plan-start today to ensure continuity and survival of your business.
Our Guarantee To You
Beginning with your initial phone call and through the storage of your data, all conversations and information will be confidential and protected. We are bonded and insured and will sign a Letter of Confidentiality before we begin the inventory. Prior to the inventory, we will meet with you to review the sample portfolio so you can see what the final product looks like and review in detail how the inventory appointment will go.
On average, you can expect an inventory to take 6-8 hours and will schedule this appointment to accommodate your busy schedule. Your completed portfolio will be delivered to you within a week.
JLK Systems will present your documented inventory in a leather bound 3-ring portfolio with zipper. The portfolio contains two versions of the printed reports, a summary report and 2 DVD's that contain all versions of the written reports, digital photos, video footage, and the scanned receipts and/or documents.
Preparation and protection for your business, assets, and financial future - starts with you. Give us a call today for a free estimate. 763-228-2577.
Renewal
Once your inventory is complete, it is important to keep it up-to-date. For one year after your initial inventory, there are no additional charges to add or update and store your data. After that, there will be a yearly fee to update and store your inventory documents.
Our Services Include:
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Digital Video
The video included in your portfolio is high-definition (HD). As a result, your images will be sharper and clearer than standard-definition (SD). Video footage is taken of each room in your office as well as the outside.
View Sample Video...
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Digital Photography
The high-quality digital photos record your business assets such as computers, office equipment, furniture, etc. in greater detail and supplement the video footage taken of the assets in the office setting.
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Inventory Reports
For each asset, there is an accurate description, purchase date, cost, model and/or serial number, background information, receipt scan and photo. Assets can be viewed by value, category, location and alphabetical. The total value of the inventory in Replacement Value and Actual Cash Value will be stated on the Summary Report.
View Sample Reports...
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Inventory Software
A DVD which includes the inventory reports, photos, scanned receipts, important documents and the video footage. All reports can be viewed on the computer or reprinted. You can also view or print each individual item, photo or scan.
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Data Storage
To protect your privacy and security, we take the following precautions: (1) Identify you and your business with a unique and secure number-all personal information is removed. (2) Inventory data is encrypted when stored in an on-line storage facility. Your data is removed from our computer once the transfer of your data to the on-line facility is complete.
(3) We guarantee that we will not sell or otherwise provide your information to any third party.