06 Sep Business Continuity Planning
By Richard Carman, Co-Founder, TrackMyRisks.
You may not realise it, but creating a well structured business continuity program for your business does a lot more than just making it more resilient. It can actually help you win more business and improve your bottom line. So, more resilient companies are great, but what’s the cost?
The common view is that creating a business continuity program comes at significant cost, however you should really be looking at it as a critical business investment. That’s because, having a well-designed business continuity program can almost always deliver a significant positive impact to your bottom line. You need to understand that this is a lot more than “just another layer of insurance”.
Let’s take a look at the 3 benefits of business continuity planning:
Win More Contracts
Every time you tender for a contract, you know that proving credibility is an essential element for winning that new business. But the challenge is often demonstrating you can continue delivering against that contract when an unplanned issue arises?
Simply embedding a solid risk management strategy into your business projects a resilient picture of an organisation that’s prepared for anything. Then, shout about it in your marketing literature and sales engagements. Instantly, you portray a greater resilience that creates trust and loyalty from your prospects.
Become More efficient
Having a living, breathing business continuity program embedded in your company will pinpoint areas for improvement in your processes. Often they are the changes you would never have thought of, let alone see through to execution.
When a crisis hits, most organisations with a well-structured business resilience capability experience a lower level of disruption to their sales, profit and their reputation.
If you keep track of the upside from your business continuity program, and benchmark that against your costs, you’ll begin to see your investment in a completely different light.
Companies that aren’t able to demonstrate a positive benefit from their business continuity program are almost certainly spending far too much, over-mitigating risk or they have a poorly designed strategy.
Others businesses know they should have plans in place but just haven’t found the time to deal with it, or feel trapped by a lack of resource and focus.
If the last organisation sounds like yours, and you want to start achieving positive outcomes from your business continuity program, take a look at TrackMyRisks.com to see how they can help you.
Richard blends over 20 years of technology and management experience, 15 of those at the helm of digital agencies, and 8 years as an army officer serving in hostile environments with the Royal Engineers. Having been involved with numerous businesses and projects at the forefront of digital innovation, Richard is a passionate advocate of the application of technology to solve business challenges. Richard’s focus at TrackMyRisks is on bringing together a broad spectrum of technologies, platforms and systems to create a truly contextual business resilience platform.