By now, most organizations have been at least partially successful in addressing the most common business continuity strategy challenges. However, research shows that third-party risks, constantly evolving cybersecurity threats and an ever-changing risk landscape remain the biggest risks to business continuity impacting capital markets, supply chains, and business operations. It is noteworthy that these challenges all originate external to the organization. So how can you make your business more resilient? We look at three important ways:
We look at three important ways:
If you dig a bit deeper these challenges seem to relate primarily to a lack of resources, knowledge, and, importantly, organizational engagement. What makes this alarming is the fact that it was repeatedly shown that those organizations that were best equipped to recover from a disruptive event such as the coronavirus pandemic, had a business continuity or business process automation plan or prepared one promptly, had strong leadership to ensure decisive action, and communicated swiftly and honestly with stakeholders, employees and where necessary, the media.
1. React as fast as possible to mitigate impacts and other risks
This you will be able to do if you ensure that your business continuity strategy makes provisions for challenges (new and old) and risks that can disrupt operations and production. It should make provision for infrastructure and equipment failures, cybersecurity, employees, COVID-19 (or any pandemic) responses, remote work scenarios and emergency communication to name but a few.
2. Prioritize people, health and safety and continuous engagement
This entails communicating with and notifying employees of the disruptive event, what are required of them and any other information they will need to navigate the crisis. In the current climate this could also include administering prescreening before employees can enter the business premises.
3. Protect your infrastructure, IT and equipment
Conducting facilities and equipment inspections can substantially reduce various risks such as equipment and service failures given how many people are still working from home and boost physical security. IT quarterly checks can ensure you review critical IT security aspects which, in turn, will decrease the chances of a cyber-attack or security breach occurring.
This may all seem complex and time consuming especially during a time where most business leaders feel the focus should be on remaining financially viable. This is why Plan4Continuity’s business continuity and business process automation plans are ideal – they can streamline and automate everyday business processes such as responding to a security breach, conducting quarterly IT checks, onboarding a new hire, responding to a potential COVID-19 infection and so forth. It also simplifies the entire communication process with broadcast and roll call options.
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