FIVE BENEFITS OF INTEGRATING AN EFFECTIVE BUSINESS CONTINUITY PLAN

A business continuity plan provides a road-map to the companies to continue operating when a disaster knocks, be it a man-made or a natural one. An effective DRP (disaster recovery plan) ensures company is up and running as speedily as possible to reduce downtime and to avoid business data loss. Thereby bringing in the advantages in every operational aspects of a business organization.

To sum up in words, the benefits of an effective business continuity plan are listed here:

1. Continuity of Operations - The main purpose is to keep operations running in extreme conditions. By having a business continuity plan in place, a company can maintain an on-going service or resume services within a reasonably short duration. This might include working from a temporary or back-up location.

2. Continuous Communication - A business continuity plan contains contact details of important vendors and other key players that too in priority order. This ensures continuity of internal and external communication in case of a disruptive event, as employees will have a fair idea how to interact with customers, investors and other suppliers until regular business come back on its feet.

3. Develops Confidence Within Organization - This gives an increased confidence to employees that their jobs are safe and a definitive plan is there to recover for any crisis. Employees well acquainted with the plan experience less panic and help them to take decisions quickly when in reality such incident happens.

4. Better Data Protection - When companies implement or test a plan, they get a realistic idea about range of data sources to protect. Some data need a backup on computers or other electronic devices and copies of critical documents should be made. In addition, critical databases are protected through firewalls and antivirus software.

5. Protects Business Reputation - Brand reputation is company’s major asset and a business continuity plan ensures the standing even in crisis. With an effective strategy, a company develops its ability to respond and operate during extreme circumstances, resulting in better status among partners, customers and investors.

6. Minimize Financial Loss - After a crisis, if a company fails to recover operations as quick as possible, it might become the reason of major losses in terms of losing customers, revenue and future business opportunities However, a business continuity plan cannot do away with financial loss but can minimize it to a certain extent. Considering a business interruption insurance policy is another great way to defend from any major financial setback.