Save Your Business From Any Future Pandemics or Disasters
Business continuity is the advanced planning and preparation done to make sure a business is not severely affected by any incident or disaster. A Business continuity plan or BCP is the process for creating such advanced recovery plans for a business to continue following any disaster or pandemic. An organized structure for management/maintenance of a BCP is called Business Continuity Management or BCM.
The primary goal of business continuity planning
The primary goal of BCM is to make arrangements and plan for operating a business during or after a disaster or pandemic.
Importance of business continuity
– A Business Continuity Plan allows you to be aware of all your assets and resources
– It also helps you analyze all the potential threats to your business.
– It helps you be prepared for the worst.
COVID 19 business continuity plan:
Since the beginning of the pandemic, COVID-19 has done serious damage to businesses around the world. As shown in studies, only 12% of the world’s businesses was prepared for a situation like this.
So, what should be the business continuity plan for the pandemic?
Companies and organizations must react fast to the situation to start rebuilding their businesses. Here are 3 actions to take:
- Prevent: Your company must ensure the virus doesn’t spread to its employees and further put your business at risk. Therefore, your business must follow proper safety protocols.
- Prepare: Know what the priorities are and start acting on them. For example, employee payments, insurance, banking, etc.
- Predict: Start acting on building services and know what you have to do in the long run.
What is missing while planning BCP?
Most companies, when asked what they review in their BCP’s have the same answer. They miss some key items while creating their plans. Some of those are:
- Insurance coverage policies
- Strategic plan alignment
- Process changes
- Verification and proof of RTO/RPO strategies
- New delivery channels
Include cybersecurity in your Business Continuity Plans:
It is critical to add a cybersecurity plan to your BCM as the amount of cybercrimes has risen substantially.
A few ways to include cybersecurity in your BCM are:
- Involve the cybersecurity team in your business
- Implement basic controls such as VPN
- Manage emergency access
- Look out for phishing
- Test your cybersecurity plan for any weaknesses
It is also very crucial to have a cybersecurity contingency plan. The plan is a written risk management document that provides instructions on what to do and how to recover digital data should there be a security breach or disaster. This is also known as business continuity paper backup strategy.
Business continuity testing scenarios:
It is advisable to test your BCP before actually implementing it, to check if it’s efficient or not.
The different testing scenarios may be:
- Data loss/recovery
- Power outage
- Network outage
- Physical disruption
- Emergency communication
Disaster recovery phase:
In case of a disaster, the disaster recovery phase solely focuses on the recovery of whichever data was lost.
Some critical elements of the disaster recovery phase are:
- Analysis of possible threats
- A communication plan
- An evacuation strategy in case of emergency
- A recovery team
- Reciprocal agreement of disaster recovery
A reciprocal agreement is a document signed by two or more companies that agree to share each other’s resources following a disaster event.
If you’d like to learn more about Business Continuity, reach out to us here at Demakis Technologies.