WHY AN ORGANIZATION SHOULD ALWAYS HAVE A BUSINESS CONTINUITY PLAN
Updated: Mar 10, 2022
Business continuity planning involves making a roadmap and an action plan on how to resume business operations after encountering a disruptive event. For example, if an Internet Service Provider (ISP) is able to resume its services to clients within an hour or two after experiencing a network glitch, we can say that it has a good business continuity plan.
Today, almost every business is dependent upon the digital domain to sell products and services. On the digital horizon, cyber attacks are the reason behind a significant number of disruptions. As a result, digitally-oriented business continuity plans have become more important than ever (even for small-scale businesses).
Working on a well-thought-out business continuity plan is important for not just the impact on reducing downtime, it also plays a vital role on several other fronts. In this post, we will shed light on the main benefits that a business receives by having a business continuity plan.
PROMOTING A RESILIENT AND CONFIDENT ORGANIZATIONAL CULTURE
When an organization has a comprehensive business continuity plan to execute, it ensures that employees aren’t clueless about what to do during an unforeseen event. In other words, business continuity planning increases the confidence level of your employees by providing them with training and procedures to allow to proceed in the best possible manner during adverse events.
One tangential benefit of this confidence and resilience building is that employees become more skillful in dealing with minor everyday glitches and disruptions.
GIVING CLIENTS PEACE OF MIND
Today, many clients want to know about an organization’s disaster recovery and business continuity planning before entering into a business relationship with them. By presenting your plans to clients and affiliates, you can give them reassurance on how you will deal with things if they go south.
Providing this information helps a business maintain transparency from the onset and earn the trust of their partners and clients.
COMPLYING WITH INDUSTRY STANDARDS
Industry standards and compliance have become more stringent than ever for all sectors. By devising a detailed business continuity plan, a business can seamlessly address many points and concerns of relevant regulatory directives.
REDUCING THE FINANCIAL RISKS
Business continuity planning also helps businesses get back on their feet after the nastiest of setbacks. The capability of getting up and resuming regular operations has wide-ranging benefits in financial terms.
A business continuity plan guarantees minimal downtime. Less downtime means more business activity and subsequently more revenue.
A business continuity plan ensures that you can deliver in line with clients’ expectations despite suffering from disruptions. Meeting client deadlines unconditionally improves customer retention and reduces attrition.
A disruption that brings business operations to a halt can negatively affect many of their future projects.
Last but not least, a business continuity plan helps a business to stay ahead of the curve. An enterprise with a carefully managed plan is all set to outdo its competitors who are operating without one.
Get in touch with 3GC Group to devise a good continuity plan for your business. We can also provide you with several digital resources that you will need to execute the continuity plan.