When your business is disrupted, it can cost money.
Lost revenues plus extra expenses means reduced profits. Insurance does not cover all costs and cannot replace customers that defect to the competition. A business continuity is essential and includes four steps:
- Conduct a business impact analysis to identify time-sensitive or critical business functions and processes and the resources that support them.
- Identify, document, and implement steps to recover critical business functions and processes.
- Organize a business continuity team and compile a plan to manage any disruption.
- Conduct training for the business continuity team and exercises to evaluate the recovery plan and strategies.
Recovery strategies should be developed so hardware and software can be restored in a timely manner to meet the needs of the business. Manual workarounds should be part of the recovery plan so business can continue while your systems are being restored.