Business Continuity & Risk Management

Just in time delivery, extended supply chains, minimal stock holdings and the use of ERP systems are just some of the techniques that have produced significant economic benefits in recent years. They have however increased the vulnerability of organizations to the effects of any significant business disruption. The concentration of activities into a single location or single computer system means that the effects of a significant business failure are now likely to be greater than at any time in our history.

The foundation of Business Continuity Management activity is the Business Continuity Plan. A properly developed BCP, even if it cannot second-guess every disruption eventuality, provides a robust framework for a business to manage incidents so as to minimize disruption. Developing a BCP prompts a business to think through the potential challenges that could occur. It acts as the basis for appropriate development and training of key individuals. And it forms a dynamic prompt for improved processes and behaviours that might prevent problems.

More and more global companies are now choosing to work only with partners that have robust, tried and tested BCPs. No longer is the BCP just a nice-to-have feature for insurance purposes – it is a vital differentiator.