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Due to federal and industry-specific regulatory efforts, your company may have business continuity and disaster recovery plans in place to meet these compliance standards. But in the wake of new and increasing resiliency threats, companies must understand that it is a necessity to have more than ‘something down on paper’ to face the modern BCM landscape. Industries are now globally connected with critical processes and operations spanning a network of interconnected company functions, and, just as your business is maturing, so should your BC solution.

The key to any BC program is to provide better business outcomes to a company by preparing it for new risks, threats and challenges to organizational resilience. This allows a company to protect its customers, assets, data and brand reputation during an event by minimizing its effects through incident management, or even preventing negative outcomes outright through assessments and planning efforts.

This is done by understanding that compliance is not enough when it comes to BCDR, and the only way to do that is by having a mature and agile BC program solution. Here are a few quick points to show you what a successful BC program should look like.

Your program shouldn’t have walls:

One of the biggest barriers to a successful program is the disconnection of information, both literally and figuratively. If your BCM, IT and HR teams are not connected and working together to identify criticalities and share information then any attempts at creating a successful program is dead from the start. To have a clear picture of your organization’s status and vulnerabilities, key stakeholders need to be involved in your program. A mature program breaks down these walls, and you need a solution that can foster adoption by connecting data and people seamlessly.

Consistency is king:

According to recent surveys only 22% of companies implementing a BCM solution consider adoption successful[1], while others said that 90% of such adoptions fail[2] due to program inconsistencies. A mature BCM solution is only as strong as the program behind it, and you need to make sure that current efforts have the ability and agility to keep your organization protected. By using a program that is the single system of record, implementation is made easier because data can be shared and updated seamlessly and consistently through cloud-based templates. This consistency makes implementation more standard and complete, while fostering the earlier concept of breaking down barriers, thus improving the odds of success.

Successful programs come from mature mindset:

Just as the breaking down of walls is critical to your BCM program, training stakeholders that become involved in your solution is just as vital. This starts by helping them adopt a BCDR mindset. If they assume that BC is solely focused on disaster and IT threats, use your program to show them what successful BCM can do for their department. A mature BC solution identifies people, assets and operations that can be affected by an incident, allowing you to show them how the company’s bottom line, and their department, can be affected. By creating the mindset of ‘everyone can be affected so everyone should be involved,’ it will help with program adoption and identifying criticalities. This all-in mindset will make your company more resilient, and your BC program more successful.

To read an in-depth look what makes a BC solution successful, take a look at our free whitepaper "Business Continuity in the Age of Insurance Innovation."

Free Whitepaper - Business Continuity Management In The Age Of Insurance Innovation

[1] “The Successful BI Survey,” BI Scorecard.com, 2012

[2] “2015 BI Predictions,” Gartner

Topics: Business Continuity| Insurance

Assurance Software

Written by Assurance Software

Assurance Software takes your company’s enterprise-wide business continuity and resiliency program to the next level. With Assurance as your go-to partner for continuity and resilience, you can confidently mitigate risk, manage recovery, and safeguard your employees, customers, operations and brands.

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