Collaboration is key to responding quickly and effectively to operational disruptions: new report
- Published: Tuesday, 06 November 2018 19:58
To effectively address the mounting pressure and increasing frequency of critical events, business continuity teams need to reach out to their security, IT and crisis teams to build collaborative working relations with the goal of minimizing the impact of disruptions.
This is one of the key findings of the 2018 BCI Continuity and Resilience Report, which was published this week at BCI World.
The Continuity and Resilience Report found that:
- When responding to an incident, business continuity arrangements are considered above all to ensure a faster recovery (87 percent) and the safety and accountability of staff (77 percent).
- Most organizations understand the importance of having a business continuity team and the findings show that having a business continuity programme boosts recovery and detection while mitigating losses and ensuring a sound PR strategy to deal with a crisis.
- Analysing the impact of disruptions on organizations, 26 percent do not know the consequences of an incident. Having business continuity measures in place can help with understanding vulnerabilities and having better performance. Research shows that the main challenges which occur from disruptions tend to decrease the longer an organization adopts the necessary measures.
- Addressing the cost of disruptions to organizations, 44 percent of respondents were not aware of the average cost of disruptions in the past five years. More than 26 percent reported losses of more than $250,000. Looking at the relationship between business continuity longevity and financial losses, the longer organizations have business continuity measures in place, the lower the losses.
The Continuity and Resilience Report was sponsored by Everbridge.