SAI Global has released results from a business continuity benchmarking study. ‘Addressing the COVID-19 gap: How Business Continuity professionals can propel business forward’ provides the results of a pre-COVID survey and a March 2020 follow up.
The research demonstrates that operational resilience is front of mind for decision-makers, however, there remains a clear difference between being aware that something needs to be done and investing enough to ensure you’re prepared. The end result is that business continuity professionals are challenged with a lack of resources and executive buy-in at a point where their role and organization are being put through its biggest test and operational resilience is more important than ever.
The SAI Global study explored three key areas: the state of play in terms or preparedness, the technology in place, and how companies perceive their business continuity programs in the future.
Key findings include:
- A quarter say that business continuity is managed by a team of one;
- Only 14 percent have a team dedicated to business continuity;
- Over half don’t use software to execute their BCM program;
- A quarter don’t have a vendor risk source, and treat it separately;
- 43 percent believe cyber attacks will become more of a factor;
- Nearly 40 percent do not consider climate change part of their program;
- Nearly three quarters say their business continuity team will stay the same in 2020;
- Less than half said organizational spend was set to increase in 2020.