As the world becomes more dependent on online business, building organisational resilience is vital. The most effective way to do this is with a comprehensive business continuity plan. This approach helps you manage risk to essential business functions, allowing you to ensure service is not disrupted should a major incident arise. Here are four key reasons you should implement a business continuity plan.
1. Compliance with industry standards
Implementing business continuity standards ensures you are meeting current industry regulations. This is helpful even if you don’t have to adhere to specific standards. Your willingness shows stakeholders you’re a responsible business owner. And, this plan provides a blueprint, which if followed, guarantees your success.
2. Increase customer confidence
Companies that openly discuss ongoing business continuity improvements send a very positive message to customers. These businesses are saying: “We’re putting the right initiatives in place to continue being there for you.” This helps customers to feel comfortable with you, making them less likely to choose competitors.
3. Build employee confidence
Employees who understand your business continuity plan feel more confident working with you. The reason is, they know exactly what they need to do if a crisis ever comes up (i.e. natural disaster, economic problems, etc.). A business continuity plan also helps employees handle daily disruptions.
4. Improve brand value
Companies who are unprepared to handle problems risk appearing incompetent to the public. If a problem arises, potential and current customers see them stumbling through the process and mishandling communication. However, a strong business continuity plan ensures a smooth recovery and protects your brand’s value and public reputation.
5. Creates valuable business data
Business continuity activities create a lot of data. These include:
• Critical business units
• Recovery objectives
• Critical tasks
• The financial impact of a disruption, and more.
Basically, it’s a guidebook of your business’
operations. Another advantage of this data collection is it can be used in many
ways, including: improving processes, planning strategic activities and
developing appropriate responses to problems.
Could your company benefit from a well thought out business continuity plan? If so, call or email the team at Rapid IT Support today.