Think of business continuity planning, and chances are, you’re really thinking of disaster recovery—how your business will survive in the event of severe weather, fire, power outages or other freak accidents. In actuality, business continuity plans offer more than simple protection against disaster. With the right business continuity plan in place, you can protect your company and ensure that your business can move forward in any situation.
In contrast to disaster recovery efforts, a business continuity plan seeks to protect your business from a wide range of potential threats, including the loss of key employees, theft and break-ins, disruptions in transport, illness outbreaks, hard drive corruptions, staff errors and more. If you’re a small business owner whose livelihood is connected to the performance of your business, creating a business continuity plan could even protect your personal assets invested in the business in the event of a threat to your business.
Here’s why you should have a business continuity plan in place:
Reduce your risk for business interruption. Availability is important to your customers, and they will notice and remember if you are not able to perform the services they are paying you to perform. Preparing for interruptions can improve your relationship with your customers by decreasing or eliminating the amount of time your business is unavailable.
Become more efficient. Invariably, business leaders who invest in business continuity planning, find processes in need of improvement. Improvements in workflow can lead to better records retention policies, the elimination of redundant activities and streamlined operations processes and ultimately lead to improved profit margins.
Increase your revenue. If you have a plan in place, it can become a competitive advantage in sales meetings—many companies who leverage their plans report that their prospects feel more comfortable if they know what will happen to the company in the event of a disaster. Furthermore, since creating the plan requires an inventory of equipment, business processes and staff positions, taking the time to craft a plan will illuminate ways your business can become more efficient.
Save money on insurance premiums. Many insurance providers offer premium discounts for businesses with a business continuity plan in place. Talk with your provider to see how your plan could qualify.
Mitigate risks and save money. New technology solutions are available that can not only help with business continuity but also save you money and increase your business’ efficiency. Virtualizing your servers, for example, can mean that you have fewer physical devices to track, whereas moving to “the cloud” can keep your business up and running remotely, even if your offices are destroyed or inaccessible.
Interested in learning more about building your business continuity plan? Contact NetStandard today to learn how our technology solutions can help your business prepare for a more secure future.