Benefits of Business Continuity
Business Continuity Management can have many benefits for your organisation:
In order to be a successful business you need to be able to consistently meet the needs of your customers. If you can't do this then they will go elsewhere and, without customers you have no profit and ultimately no business. Being known as an organisation that is prepared for disruption can only benefit your reputation.
Organisations like the Council that contract goods and services are increasingly looking at the business continuity arrangements of their suppliers and contractors. If you are a business or voluntary organisation that is contracted to supply services by another organisation then you may find that in the future you may be asked to have a business continuity plan in place as part of your contract.
Insurance providers are starting to ask businesses and voluntary organisations whether they have a business continuity plan when they apply for insurance. If you do have a plan you will be better placed to secure competitive insurance arrangements for your organisation.
Once you have business continuity arrangements in place you can then increase your resilience even more by asking your partners and suppliers to also plan for disruption. This is known as 'supply chain resilience' and is key to you successfully coping with disruption.
Evidence shows that those businesses without a business continuity plan are much more likely to fold after an incident than those organisations who are prepared.