We are exploring the topic of business continuity, and our previous blog revolved around business continuity planning (BCP) and its fundamental role in ensuring the overall continuity of your business during unplanned events.
As a reminder, BCP is a set of processes and procedures being put into action to respond to a threat, risk, or crisis that may affect your business and its operations to various degrees.
We touched on various forms of events and disasters that could cause interruptions to everyday business operations. We discovered that the only way to ensure that your business survives is to understand all potential risks and having the necessary plans and procedures to prevent any adverse effects caused by an unplanned event.
We also delved into the various benefits of a thorough and well-planned business continuity plan, which we continue discussing in our business continuity series:
BCP builds a company’s reputation
Implementing a formal, thorough and suitable BCP ensures that all members are aware of the necessary steps that need to be taken in the event of any unplanned emergency and are fully competent to carry out the tasks at hand. It cancels out the need to make hasty and poorly planned decisions in stressful and in-the-moment situations, which may not be the best option for your business in the future. Your plans and procedures form the backbone of your recovery plan and function as a shield to mitigate risks and ensure that your reputation and brand value stay protected and on par.
BCP maintains competitive edge
Business continuity relies on bouncing back as quickly as possible and continuing with everyday operations (i.e. restoring communications and networks, recovering vital data, and opening support channels to reconnect with your customers) to minimise risks, such as loss of revenue or dissatisfied customers. If you can restore your daily operations ahead of your competitors while they are still in the process of damage control and getting back onto their feet, you have a big advantage. This creates the opportunity for you to step up and shine – standing out as a business that can be relied upon to meet the needs of its customers, irrespective of the situation.
BCP facilitates quality control
As businesses, we make various promises to our customers to have a competitive edge and stand out above the rest. Unfortunately, sometimes it is not easy to deliver on a promise when disaster strikes. The problem is that customers take you at your word and expect you to deliver on that promise, irrespective of what might be going on internally – especially when they are entirely unaware of the challenges you face. Inconsistency in product or service delivery is one of the quickest ways to lose customers. Inconvenience and dissatisfaction force them to look at alternative options. BCPs smoothly pave the way to quickly and efficiently tackle affected areas within your company, minimising disruptions and downtime.
BCP is an investment in your company
We have no idea when an unplanned event might affect our business operations. However, it is vital to know what to do to minimise the fallout. A BCP is not only to protect your profitability, overall continuity, or to keep customers – it is a solid investment. A BCP requires a significant amount of effort, resources, time, and input from various members in your company, to ensure that you create a solid, long-term solution for unplanned events. It is an on-going investment that needs to be assessed regularly to ensure that it stays effective and up to date. Employees should know what to do in various situations. A BCP can be the difference between the success or failure of your company after an unplanned event.
We hope that we have inspired you to invest in a business continuity plan to ensure that you are always covered and ready for whatever situation might disrupt your business operations. It is essential to plan: protect your business.