How to cope with a crazy high business Continuity Standard

by | Jun 29, 2016 | Business Continuity

There’s a reason to establish a business continuity standard.

According to the Disaster Recovery Benchmark, over half of organizations don’t have a documented business continuity plan. Interestingly, 20% of the organizations surveyed also reported having lost critical business applications in the past year.  Moreover, almost 20% of respondents stated financial losses resulting from such outages ranged from $50,000 to over $5 million.

Failure to implement a high business continuity standard will have widespread consequences.

We live in an interdependent global economy. We are so connected that any prolonged break in the supply chain can produce effects across nations–even continents. Disasters such as the 9/11 terrorist attacks, the financial crisis of 2008 as well as the Japanese earthquake and tsunami of 2011 demonstrate that no one is an “island”.

So with increasing concern about severe weather events, terrorism, identity theft and cyber-crime, it’s not surprising that governments and regulatory bodies are demanding an even higher business continuity standard.

Regulations are tightening across the board.

Banking, commodities, healthcare, environmental health and safety, IT, food and pharmaceuticals are just a few of the industries which now impose a formal business continuity standard. The US Occupational Safety and Health Administration also requires that most American employers prepare disaster recovery plans.

But it’s not just about the regulators.  Recent attacks on high profile businesses such as Target and Home Depot have highlighted the potentially catastrophic financial and reputational consequences of data loss. And, as a result, customers and insurers will also be demanding increased data protection and a higher business continuity standard.

Planning for Business Continuity.

There are two crucial elements to ensuring the highest possible business continuity standards.  First, your plan should make certain day-to-day operations are not impeded by short-term system problems.  Second, you need to prepare a detailed disaster recovery plan so that normal functioning can be restored as quickly as possible in the event of a more serious disruption.

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Data protection must be an extremely important priority for all organizations.

Even in times of normal operation, you need back-up systems. They will ensure that your data files are always kept confidential, usable and free of viruses and malware.  You should look to combine your own in-house back-ups with a remote (cloud based) system so that you will always have protection. For example, even if your physical premises were destroyed and inaccessible, your data would be duplicated in the cloud.

At Invenio IT, we’ve been helping organizations with data protection and business continuity for over 15 years.  If you have any concerns about your current plan, contact us today for a consultation and live technology demonstration.

Tracy Rock is the Director of Marketing at Invenio IT. Tracy is responsible for all media-related initiatives as well as external communications—including, branding, public relations, promotions, advertising and social media. She is one busy lady and we are lucky to have her!