Benefits of Business Continuity Planning

Business continuity planning involves developing a practical plan for how your business can prepare for, and continue to operate after an incident or crisis. It is an essential part of running any modern organization that takes its business and its customers seriously. With so many potential business disasters looming that can befall an organization at any time, it seems unwise not to take actions to prepare for and try to prevent the devastating impact of such catastrophes.

Our professionals define business continuity plan as a well-articulated formula, that sets how a business will operate following an incident and how it expects to return to ‘business as usual’ in the quickest possible time afterwards. We know that when a business is disrupted, it can cost money. Lost revenues plus extra expenses means reduced profits. Insurance does not cover all costs and cannot replace customers that defect to the competition.

There is a multiplicity of benefits for having us write a business continuance plan for your organization. Not only will your data, hardware, software, etc., be better protected, but the people that compose your organization will be better safeguarded should a disaster occur. In addition, employees will be informed and rehearsed as to what actions to take to immediately start the recovery process and ensure business continuity if disaster strikes. Without this type of preparation any unexpected event can severely disrupt the operation, continuity, and effectiveness of your business.

Through experience with our clients, we know that disabling events can come in all shapes and varieties. They can vary from the more common calamities like hard drive corruption, building fires or flooding to the rarer, yet more severe and often longer lasting disruptions that can occur on a city-wide or even national basis; events such as disruptions in transport (oil crises, metro shut-downs, transport workers strikes, etc.), infrastructure weakening from terrorist attacks, or even severe loss of staff due to illness like a pandemic flu. All of these strike a blow at your organization struggle for business continuity.

We understand that the size and complexity of your continuity plan will depend on your business, but typically includes the following components of a business continuity plan;

• Conducting a business impact analysis to identify time-sensitive or critical business functions and processes and the resources that support them
• To identify, document, and implement to recover critical business functions and processes
• Organize a business continuity team and compile a business continuity plan to manage a business disruption
• Conduct training for the business continuity team and testing and exercises to evaluate recovery strategies and the plan

However, our experts understand that it is not sufficient to implement these elements of a business continuity plan as “one size fits all”. For an effective response, with respect to maintaining operational continuity, the scope of business continuity plan must be customized to the likely specific risks and catastrophic scenarios that may face the specific business.

The importance of business continuity plan is to lead your company successfully through the steps required to continue operations. For example, business continuity strategies may include designation of alternate work sites and quick assemblage of necessary business infrastructure should the need suddenly arise, backup data systems, communication protocols and an up-to-date roadmap to deal effectively with disaster. We know that, whereas, insurance may reimburse for loss, continuity planning ensures future operational capability, leading to sustainability of the enterprise.

Business losses will be dependent to a large degree on how business owners manage their perceptions, consider risk, and weigh the cost-benefit of continuity planning. Business continuance plans promote corporate resilience in the face of potential “game-over” scenarios. Our experts will not only help you understand the most essential areas of your business but they will guide you to ensure that you understand every part of your continuity plan.

Why Have a Business Continuity Plan

Survival

This is probably the most important purpose of a business continuity plan. The harsh but simple fact is that there are a hundred and one things that can disrupt a business. A well thought out, business continuation plan can mean the difference between coping with a disaster and going bust. Continuity plans prepare your business for potential disaster, helps ensure that you will be able to maintain continuity of your business practices, and reduce or even possibly remove the effect such calamities could have on your organization. We will help you prepare a carefully thought-out continuity plan that will make coping in a crisis easier and enable you to minimize disruption to your business and its customers.

Exposing Inefficiency

A business under threat can be viewed like a patient on an operating table. The priorities are to maintain the blood supply (cash flow), oxygen (communication links) and at all costs protect the vital organs (the staff and premises). Business continuity planning process begins with a thorough analysis of the business to decide which parts are vital. When viewed like this, the non-critical parts reveal themselves – all the procedures and resources that have been there over the years, but which are not necessary.

While helping you in evaluate potential weakness and planning how to deal with what could possibly go wrong, we offer your management the chance to gain a better understanding of the minutia of the business and ultimately help the organization identify ways to strengthen any short comings. Frequently the greatest and most immediate value of the continuity planning process is the awareness one gains of the details of his/her business and not necessarily the streamlining of how to handle disaster as an organization. A continuity plan can often create awareness of useful ways to improve an organization, sometimes even in areas that had previously gone unconsidered.

Competitive Advantage

Having a business continuity plan can give you the edge over your competitors. Organizations prefer to do business with those who have a higher ability to deliver products and services on time.  Having a comprehensive and tested business continuity program assures customers of your ability to deliver as expected. Our experts will help you show your commitment to deliver no matter what happens. Put yourself in your customer’s shoes: do you sign a contract with the business that has a business continuity plan? Or the one that doesn’t?

Preserve Brand Value and Company Reputation

A continuity plan helps protect your organization image, brand, and reputation. Being known as a reliable company is always good for business. We know that your brand value is probably your biggest financial asset and we will help you mitigate reputation and financial exposures in uncertain times.

Regulatory Compliance

Even if your business is not yet subject to requirements from external regulations, it may become so in the future. Many governments and regulatory bodies have begun to mandate incorporation of business continuity management into their policies and governance. The demand for business continuity plans is now trickling down from big business to the smaller ones. You can always count on our business continuity plan standards that we have set over many years of working with clients to help them comply and avoid any legal consequences of non compliance.

Increased value

The purpose of business continuity plan is to keep you in business even in times of uncertainty and help you cope with whatever that is thrown at you. A business that will cope with uncertainties is a more valuable and reliable investment than others. We know this can be of value when asking for credit from a bank for your business or when selling the company. It will also prove to customers, insurers and investors that your business is resilient and robust enough to withstand risks.

Enhance health and safety

Preparation of a continuity plan will show your staff that you have their employment and personal well-being in mind. It will show that you care. Our business continuity management experts will help you ensure safety and health of your staff and visitors therefore sending a positive message about your business practices to all the stakeholders.

Peace of Mind

Through experience, we know that there is no continuity plan that can give you a total peace of mind for a business that you have built your entire life. But why is a business continuity plan important? A continuity plan can significantly reduce your loses if you are hit by disaster. While other business people lie awake at night, you can rest easy knowing your continuity plan is ready, should the worst happen. While some business owners like to believe that they can quickly come up with a “Plan B” to work through a crisis, our experts spend time making continuity plans to organizations for events they hope will never happen.

Our customer care team is available round the clock and work hand in hand with the other team members, so you can be sure that the responses that we will give you are accurate and capable of enabling your business to grow. Fill the quick form below or contact our company OGS Capital today and our experts will be happy to assist you in the best way possible.

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