Background: The COVID-19 pandemic was a wakeup call that made it clear the importance of IT Disaster Recovery (IT DR) and Business Continuity Management (BCM) for any organization whatsoever – be it large or an SME (Small to Medium Enterprises), Govt. or Private owned, in any industry whatsoever, with any ownership, including NGOs (Non-Governmental Organizations). IT DR focuses on ensuring adequate IT availability at all times, while Business Continuity is a holistic umbrella that focuses on both IT and non-IT resources, such as availability of the minimum required skilled people, buildings, equipment and infrastructure, raw materials, utilities (water, electricity etc.), and also funds.
Those who had in place a formal Business Continuity Management System (BCMS) were quickly able to restart their activities during the pandemic, without losing trust, faith, reputation or revenues. Others struggled and lost market share. Many closed down permanently.
Post-pandemic, IT Disaster recovery and Business Continuity assurance is one of the top priorities that the Management and governance Boards of organizations are driving very seriously and aggressively implementing. Via our IT Disaster Recovery and Business Continuity certification and training courses offered at 3 levels (Foundation, Specialist, Professional), FQA International is proud to support professional organizations to put in place the competencies needed to enable world-class BCM and IT DR delivery and resilience. To know more Click here or Contact us at info@fqainternational.org
Some of the benefits of implementing BCM / IT DR include:
- Enhanced reputation and customer trust: By having a robust business continuity plan in place, organizations demonstrate their commitment to being prepared and resilient. This can enhance their reputation, instill confidence in customers, and attract new business, as clients feel more secure knowing that the company has plans in place to continue operations even during adverse situations.
- Enhanced revenues and market share: let’s take an example. Would you be happily willing to pay at least a small premium (say 5-10%, maybe even 20%), to travel with an airline that has a reputation to get you to your destination on time? Would you be willing to pay at least a small premium (say 5-10%, maybe much more), to be with a mobile service provider where you almost never face connectivity outages or internet downtime? Would you be willing to pay at least a large premium (maybe 50%, or even more) to have your operation conducted at a hospital where you have the peace of mind due to operational assurance and reliability? For most people, the answer would be – YES! It is our view that the assurance provided by effective Business Continuity and IT DR capabilities can help Organizations to increase revenues, market share and profits.
- Employee satisfaction and retention: Employees feel reassured and valued when their organization has a business continuity plan in place. This can improve morale, reduce stress, and increase job satisfaction. In the event of a disruptive event, having a plan to ensure the safety and well-being of employees can increase loyalty and improve retention rates.
- Compliance with regulations: Many industries have specific regulations or legal requirements regarding Business Continuity or IT Disaster Recovery. Implementing a comprehensive business continuity or IT DR program can help organizations comply with these regulations and avoid potential fines, penalties or legal issues.
- Minimized downtime: Via the BIA (Business Impact Analysis), an important step of the Business Continuity implementation methodology, organizations is able to identify the negative consequences of downtime, and develop strategies to mitigate them.
- Risk mitigation and prevention: The Business Continuity Risk Assessment helps organizations to identify and protect themselves against potential threats and vulnerabilities. By doing so, organizations can take proactive measures to prevent or minimize the impact of these risks before they occur, and be able to quickly recover from disruptive events such as natural disasters, cyber-attacks, or equipment failures. This reduces the likelihood of disruptions and downtime, and helps also to reduce financial losses their associated costs.
- Improved decision-making and resource allocation: The BIA involves conducting a thorough analysis of critical business functions, processes, and resources. This helps organizations understand their dependencies, prioritize activities, and allocate resources more effectively. As a result, decision-making becomes more informed and efficient, leading to better cost management and operational effectiveness.
- Competitive advantage: Organizations with a well-established business continuity/ IT DR program have a competitive advantage over those that don't. Customers, partners, and investors are often more inclined to work with organizations that have proven strategies to handle potential disruptions. This can help businesses stand out in the market and gain a competitive edge.
- Effective communication and coordination: Business continuity and IT DR plans often mandate clear communication strategies that outline how information will be disseminated during a disruption or crisis. This facilitates effective internal and external communication, ensuring employees, customers, suppliers, and other stakeholders are kept informed and coordinated during a disruptive event. This communication helps increase transparency and faith in the organization and its management.
- Enhanced Assurance and sustainability: A well-executed business continuity or IT DR program not only focuses on recovering from disruptions but also supports long-term quality, business growth and sustainability. The process of rehearsing (testing/exercising) a business continuity plan provides assurance to the Management, stakeholders and customers, thereby enhancing overall performance and resilience.
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