When the unexpected happens, it is essential for businesses to be prepared. You and your team need to have strategies in place to keep operations moving 24/7/365. A business continuity plan (BCP) is a comprehensive plan that helps organisations prepare for and manage any potential disruption to their operations.
No matter what size your organisation is, this comprehensive guide can answer all your queries related to BCPs and explain how/why IT consulting services can help you with your BCPs.
What is a business continuity plan?
A BCP is a forward-thinking strategy that allows businesses to identify critical disasters and create strategies to continue operating during and after them, saving them from ruin. A BCP is an aspect of business continuity management – an all-in-one approach to risk mitigation.
While companies can create their own BCPs, organisations that specialise in IT consulting services, for example, managed service providers (MSPs), can help them develop more comprehensive strategies.
Are business continuity and disaster recovery the same practice?
An important distinction to note is that a business continuity plan differs from a disaster recovery plan (DRP) in an important way. A DRP is used to ensure that a business can restore its information technology (IT) systems once a disaster has passed. It is a part of a BCP. On the other hand, a BCP focuses on the business as a whole.
Why is having a business continuity plan important?
BCPs are crucial for organisations in today’s unpredictable world. In the IT and business operations space, there are several events that constitute disasters. They are:
- Natural disasters, such as storms and floods
- Power outages and other technological failures
- Cyber-attacks and other security threats
- Operational disruptions
BCPs help organisations prepare for all potential scenarios and equip them with the resources and strategies they need to stay operational during times of crisis. BCPs can help keep your vital day-to-day processes functioning as intended – a necessity for reducing the impact of financial losses and for fulfilling your company’s recovery time objective (RTO).
During a disaster, your company’s reputation is put to the test. Your customers must be able to see that you take your processes, data integrity, and operational efficiency seriously. The methods you implement into your BCP will be witnessed by customers once your plan is put into action. The very fact that you have a well-thought-out strategy in place, and that you are able to execute it without delay, shows customers that you value their wellbeing and are always prepared for the worst.
What should be included in a BCP?
A comprehensive BCP should contain numerous components that cover all facets of your business. The purpose of this level of detail is to cover all bases and have strategies upon strategies in place for more effective risk mitigation.
The components are:
- A risk assessment – identifies potential disruptions, determines the likelihood of them occurring, and considers their impact on the organisation.
- A business impact analysis (BIA) – evaluates the potential financial impacts that disasters can have on the company’s operations.
- Recovery strategies – the specific methods used for restoring normalcy. This should include disaster recovery plans and protocols for resuming processes.
- Communication channels and contact details – the procedures for communicating with employees and stakeholders. Including their contact details allows for faster retrieval when needed.
- Resources – the IT tools, data, finances, equipment, and other materials that you need to remain functional.
- A backup work site – a location where you can set up shop until you can return to your regular full-time base of operations.
A BCP should be tested and updated regularly, particularly in situations where your business undergoes changes. This ensures that the plan is up-to-date, effective, and contains no oversights.
What are the benefits of having a BCP?
As a practice, business continuity is not a trade secret among business operations managers and the corporate elite. It is a fundamental business strategy readily available for all organisations eager to improve business operations and hone their competitive edge
With a BCP, your business will benefit from:
- Faster operational recovery speeds.
- Enhanced cyber and procedural security.
- Reduced costs.
- A bolstered reputation and credibility.
- Ironclad adherence to industry standards and regulations.
- Boosted agility.
- Enhanced customer loyalty and retention.
- Improved business resilience.
- Stronger risk management policies.
How can IT consulting services help with a BCP?
As critical as a BCP is to protecting your company and people, creating one can be time-consuming if you have to juggle between running your business and planning for crises. IT and business continuity planning consultants are third-party entities that have the expertise and experience to create specially tailored strategies for organisations of all sizes and in any industry.
These technology and business continuity experts can analyse your company and identify the potential risks that relate directly to its operations and industry. They can help you to develop strategies to minimise the risks’ effects on all areas of your business, from the main office to the supply chain and beyond.
IT consulting services and support from business continuity experts
Without a BCP in place, your business is at greater risk of succumbing to disasters. On the flip side, a carefully developed BCP can reward you with all the strategies and resources you need to operate come flood, network outage, or cybersecurity breach.
The IT consulting services at Muscatech can support businesses in a range of areas, including business continuity. Muscatech’s business continuity planning consultants leverage extensive IT and business expertise to help organisations like yours develop BC plans that are foolproof and cost-effective. Talk to the Muscatech team today to secure your business and remain operational during trying times.
