In an era marked by rapid technological advancements and unpredictable global events like the recent CrowdStrike outage, the concept of business continuity has never been more crucial regarding cybersecurity. From natural disasters and cyber attacks to economic downturns and supply chain disruptions, companies must be prepared to navigate a landscape fraught with potential disruptions, ensuring they can maintain operations and protect their assets no matter what challenges arise.
This is where a robust business continuity plan (BCP) becomes paramount. It’s not a matter of if you will face a disruption but when. Understanding this inevitability is the first step towards a proactive and effective BCP.
Read: Crafting 3 Core IT Plans with Thriveon
What Is Business Continuity Planning?
A business continuity plan (BCP) is a strategic process that refers to an organization’s ability to maintain essential functions during and after a disaster occurs. It involves identifying all potential threats, developing strategies to mitigate each impact and implementing procedures to restore normal operations.
By addressing potential challenges and implementing comprehensive preventative measures, companies can mitigate risks, minimize downtime, protect their assets and safeguard their reputation. A well-crafted BCP can be the difference between survival and closure, especially since 60% of small businesses close six months after a cyber breach.
As you create an effective BCP, consider these crucial questions:
- Data accessibility: In the event of a disaster, how will my business access critical information? Where is data stored? How is data backed up?
- Disaster preparedness: Are we prepared for different levels and types of disasters? Have we outlined specific recovery procedures? What would we do if we had to operate from a location other than our primary facility, like at home?
- Operational limits: How long can my business operate without access to information? How much data can we afford to lose?
- Human element: How will my employees respond to a crisis? Do they understand their roles and responsibilities? Have we outlined clear communication channels?
The Business Continuity Planning Process
A well-structured BCP is essential for organizations looking to enhance their resilience and efficiency, and the process includes these steps:
- Initial assessment: Undergo a business impact analysis (BIA) to determine all critical business functions. Also conduct a comprehensive risk assessment to identify potential threats to the organization, the probability of each one occurring and the effect it will have on these critical functions.
- Strategy development: Develop preventative measures that can significantly reduce the likelihood and impact of disruptions, including data backups and disaster recovery plan (DPR). Align business continuity strategies with company goals and objectives to ensure cohesive planning. This is also a good time to establish possible remote work and BYOD capabilities if onsite equipment is damaged.
- Plan design and implementation: Create detailed recovery plans for each critical function, including specific steps to take during and after a disruptive event. This should consider the recovery time objective and the recovery point objective (RTO and RPO). Also list which employees have what roles and responsibilities and the order in which their tasks should occur.
- Training and testing: Speaking of staff, train employees on their specific roles and responsibilities. Regularly test the plan through simulations, drills and tabletop exercises to identify any weaknesses or gaps.
- Maintenance and review: Continuously monitor and update the BCP to reflect changes in the company and the external environment. Ensure ongoing alignment with business goals and strategies.
Benefits of Having a Business Continuity Plan
Implementing a business continuity plan offers numerous benefits that can significantly enhance a company’s resilience and operational efficiency.
- Reduced downtime: By having a clear and actionable plan, organizations can quickly respond to disruptions, reducing the time it takes to resume normal operations.
- Protect digital assets: Proactive strategies such as regular data backups and robust cybersecurity measures safeguard valuable digital assets from loss or theft.
- Enhanced organizational resilience: By fostering a culture of preparedness, businesses can effectively adapt to change, improve efficiency and ensure long-term viability and success while withstanding disruptions and operating smoothly.
- Improved risk management: Identifying and assessing potential threats and implementing preventative measures helps mitigate risks, protecting the company from significant impacts.
- Meet regulation compliance: Many industries have specific regulatory requirements for a BCP. Having a plan in place ensures compliance and avoids potential legal issues.
- Customer trust and confidence: Demonstrating a commitment to uninterrupted service builds customer trust and confidence, strengthening business relationships and reputation.
- Employee preparedness and morale: Training employees on their roles and responsibilities prepares them for emergencies and boosts morale by showing the company’s commitment to their safety and well-being.
- Competitive advantage: Companies with effective BCPs are better positioned to seize opportunities and maintain operations when competitors may be struggling.
Thriveon and Business Continuity Planning
Creating a BCP from scratch can be daunting and time-consuming, especially if you lack technical expertise or a starting point. This is where Thriveon, an award-winning managed service provider, can make a significant difference.
Every BCP will be different, tailored to the specific needs, staff, budget and goals of the company. We understand this, so our experienced staff is ready to help you create a robust BCP to handle any issues. Schedule a meeting today to learn more about how we can help you.