Companies never need a Continuity Plan until they do. The absence of this plan is only noticed when a disaster strikes. Every time the normal business processes are interrupted unexpectedly, there are costly setbacks that companies face. With a Business Continuity Plan, companies have the potential to minimize the impact and damage of the unplanned events.

A business continuity plan gives an organization the ability to maintain essential processes before, during, and after a disaster.

5 Reasons your organization needs a Business Continuity Plan

Disaster recovery plays a significant role in the restoration of business operations. Disasters happen. Their unexpected nature is what makes them so devastating. Being prepared may not prevent the disaster, but it does mitigate the impact on your business.
Research states that 40 percent of small businesses never recover from a disaster. Often when we think of disasters, we think of major events like earthquakes, floods, and natural disasters. These, however, aren’t the only causes of downtime. Data deletion due to human error, poor security habits of users, and incompetent employees or accidents also rank among the prime reasons for IT downtime.

Most companies deploy some form of data backup. Having data backed up does you no good if you cannot access it, such as could occur in a power outage or need to leave an office site even on a temporary basis. Accessing data in the event of a disaster can prove a problem. After all, having a backup is different from accessing it.
It’s a question business continuity planning asks: How will you access that data in the event of an outage? For example, the average enterprise backup reaches over a petabyte or more.
This pushes conventional storage to its limits. Even several terabytes of data backed up by a small to mid-sized business can strain capacity and bandwidth. And if you don’t have a data center or hardware prepared to handle this volume of data, it does you no good.
By deploying business continuity and disaster recovery solutions leveraging cloud technologies and virtual servers, organizations can run critical business applications from backup instances on virtual servers in the cloud. This approach enables you to effectively “flip a switch” and can keep your downtime to a minimum.

Cyberattacks are becoming more sophisticated and successful every year. A 2018 study of companies that were attacked found that 68% of breaches took months or longer to discover. And insurance doesn’t restore data due to data center, server, or backup loss, or even lost access to any of these. 
Insurance isn’t enough to cover all the damages of a disaster. Yes, it can cover the costs of repairs, but in terms of loss of revenue and business prospects due to downtime, it has little effect.

You have a big advantage over your competitors if you can restore normal operations while they are still trying to figure it out. Getting your network back up and running fast, restoring access to your business data and documents, and reconnecting your employees to communicate with each other and support your customers allows for your organization to stand-out as a leader and one that can be trusted and relied upon.

Keeping a business going is essential. Taking a very simple view, if you lose the ability to buy and sell, your business – for all practical purposes – ceases to function.
Business continuity makes this possible by establishing actions that must be taken to ensure operations remain active, no matter the nature of the disaster. For example:

  • If the power goes out without certainty of when it will be restored, can you switch to a server or network located in a functioning data centre?
  • If you experience a server failure, do you have a backup server (or virtual server) ready to go?
  • If your office location becomes inaccessible for any reason, can your employees work remotely?

A business continuity plan positions your organization to survive serious disruption. It eliminates confusion common to every disaster, providing a clear blueprint for what everyone should do. Beyond business operations, your business continuity plan helps people. By keeping operations going, you are better positioned to keep your employees working, protecting the jobs that support them and their families. You also continue to meet the needs of your customers, impacting their lives, and if you are in a B2B business, the lives of their customers.

This article was originally published in Ricoh.

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