How to Create a Business Continuity Plan That Can Save Your Company
What is a business continuity plan?
A business continuity plan (BCP) is a special document that thoroughly describes how a business will continue operating during an unplanned disruption in service. It’s much more comprehensive than a disaster recovery plan and contains contingencies for business processes, assets, IT, transportation processes, human resources and every aspect of the business that might be affected.
BCP’s usually contain a checklist that includes supplies and equipment, data backups and backup site locations. BCP’s also identify Plan Administrators and contact information for emergency responders and backup site providers. Plans may provide detailed strategies on how business operations can be maintained during outages.
An essential part of a business continuity plan (BCP) is a Disaster Recovery Plan that contains clear instructions for handling IT disruptions to servers, networks, personal computers and mobile devices etc. And whom is responsible for each area.
Section 1: The Importance of Business Continuity Planning
Business continuity planning (BCP) is often overlooked. Not many realize the importance of keeping their business running in case of an unexpected disruption or disaster. So let’s look at what planning does. It minimizes the risk of downtime by identifying backup plan and backup sites.
BCP’s help you understand what’s at stake and establish a cohesive approach to running the business. It builds security measures that keep your business working during and after a disruption. If a disruption occurs, the plan will give your team everything they need to keep their daily routine going for at least a few days.
Digitalization and its effects on business continuity
Almost all businesses are involved in some form of digitalization and, if not already, their presence is growing stronger. The evolution of the business depends on it. These changes affect all levels of an organization’s operation; from production to human resources to customer services to business support.
Digitalization increases the demands placed on information technology systems to such an extent that companies need to maintain a clear continuity plan for everything that goes on behind the scenes. This includes the back office, which plays an increasingly vital role in the smooth functioning of the organization. There is a big shift underway in the nature of most businesses.
Preparation- what you can do to make your business more resilient
The best way to prepare your business for an unplanned disruption is to establish an effective plan before it occurs. Plan on establishing an effective emergency response plan and engaging specialized vendors that can offer continuity solutions.
An effective plan and the appropriate vendors help keep your business operational. An appropriate disaster recovery plan and vendors can give you the ability to protect your business from internal and external disruptions and help you restore operations with no service interruption.
Consider the following key points when you’re planning and implementing your BCP:
Every function within the business should be outlined in the BCP, including HR, Legal, Finance, Supply Chain and Marketing etc.
Implementation- how to set up a BCP plan for your company
BCPs come in different forms and most often include a checklist. All plans should have detailed plans to meet with backup sites, what data needs to be backed up and what operating procedures are in place.
Once the plan is complete, it should be well documented. Insurance providers should be required to receive and inspect an assigned copy of the BCP and then each subsequent one should be sent to them.
Business Continuity & Disaster Recovery Plan For Private Limited Company
The structure and application of a business continuity and disaster recovery plan will vary with the nature of a company’s operation, so it is important to communicate with senior management to determine whether a BCP is required for the private sector.
Business continuity planning is a vital tool for any organization to have in order to protect its key assets and ensure a quick recovery from any interruptions to its core business services. Without a plan, your organization might face major problems that could even result in the shutdown of business operations. The more plans and strategies that you can include in your plan, the more plans you can protect.