Wednesday, April 28, 2021

What to Include in Business Resiliency Planning

When a business faces a disaster, a business resiliency plan outlines the steps that the company will take. The idea is to keep operations running and provide an adequate damage control solution. Disasters might involve a cyberattack or extreme weather that physically damages the building.

Failing to have a business resiliency plan means that your company will experience downtime. If unable to sell your products and services, you’ll suffer financially, and possibly reputational loss. So what exactly should you include in your business resiliency planning?

1. Establishing potential threats

When creating a business resiliency plan, first you should establish your potential threats. Certain natural disasters might be more likely in your area, and so you should prioritize planning for these. A roadmap for a natural disaster might include preparing digital services so that you can operate remotely.

Cybersecurity threats

All businesses are vulnerable to cybersecurity attacks, and so it’s vital to have the correct IT support. There are many different ways that IT can protect you from a cybersecurity attack. Businesses can gain security support from managed IT services. 

They can also use systems such as multi-factor authentication, and provide security training for staff. An IT consultant can advise you on your business resiliency plan, and security options. Businesses might also want to invest in cybersecurity insurance, as part of their business resiliency plan.

2. Data Backup

A business resiliency plan should also include a backup of all your data. Your backup should be off-site, or cloud-based. Remember that your physical hard drives could end up damaged or compromised. A managed IT service can support you to ensure that all your data is backed up. With the right preparations, you’ll still be able to access your data.

3. Your Essential Services

Your business resiliency plan should include preparations that cover all of your essential services. You’ll need to identify how you’ll support your team, customers, and suppliers. The plan should detail how you’ll keep on top of your inventory and shipping to minimize disruption. Businesses need to figure out a new communication plan to support their customers through the disaster. You should find backup supplier options, to keep inventory levels high.

During the coronavirus pandemic, many companies needed to quickly improve their technological practices. Deloitte Digital and Salesforce joined forces, to “help organizations transform to online offerings in as little as two to five weeks.” Those companies that already had e-commerce services, experienced zero downtime.

4. Train Your Employees

Once you’ve established how you will respond to a disaster, it’s important to train your employees, so they know what’s expected of them. Show the resiliency plan to your stakeholders and staff. Gather feedback and use this to make improvements.

Whether it’s your digital communications, your eCommerce, or your supplier management systems, you’ll need a robust IT infrastructure to support your business. A business resiliency plan is essential to protect your company from various losses.

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