Business Continuity Planning (BCP) appeared in our business life some time ago. In the beginning it was considered a formality and “nice to have”.

Nice to have or a very useful tool?

After a while it became an obvious need to protect daily activities regarding good and proper functioning of IT systems: hardware, software, communications in order to face potential cyberattacks, power outages etc.

Then SARS appeared, physical disasters and extreme weather events happened, financial crisis popped up and regulators as well corporations started to realize that BCP is an excellent tool where everybody has to invest on.

Why? Because everybody needs to be well prepared in advance in order to serve customers in the best way and in the same time to decrease if not to avoid completely loses and malfunctions.

Role of BCP

In this respect corporations have elaborated various scenarios based on which specific systems have been developed in order to prevent and recover from potential threats as well to be in position to support in a seamless manner ongoing activities and daily operations during crisis.

And Coronavirus appeared

Travelling became a challenge, events where a lot of people attend turned into “better to avoid” or even canceled by the organizers or the authorities etc.

However, life continues; there are things that can be delayed but have to be done considering the financial and reputational impact. Therefore, thermal scanners appear, working from home has been imposed since telecom permits so, business travel has been restricted to specific areas though meetings take place using technology etc.

BCP in function

Companies have adapted a different way of working that fits to the new conditions, minimize risk, and protect people.

The majority of them following a specific plan, with people knowing what to do and how.

All these contingency plans have been implemented based on the BCPs companies have been developing, reviewing, and improving during the years.

Solutions have been designed after analyzing different threats scenarios; infrastructure has been prepared to support these solutions; people have been well informed about in order to be in position to implement in a fast and accurate manner.

Coronavirus came to remind us that BCP is an important tool for a company. A real competitive advantage which prepares the company on how to respond to unusual situations applying a well-organized and safeguarded approach.

Written by Periklis Giavasoglou

Picture sourse Pexels

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