The increasingly competitive and globalised marketplace for goods and services is forcing all companies to review their business strategy and identify operational efficiences to maintain or improve profitability.
This necessitates internal reorganisation, increased outsourcing, more advanced IT programmes and faster communications; all of which hugely increase the complexity of business and significantly increase the risk attaching to operations.
This risk can lead to significant financial exposure in the event of unplanned disruption or events which threaten the market reputation of the company, or its products and services.
Recognising this increasing exposure it is essential to establish an effective mechanism for risk identification, assessment quantification and control. This mechanism should provide management with a risk analysis tool to support the decision making process. Allowing key strategic decisions to be taken with a full understanding of the financial exposure attaching and enabling risk mitigation to address those exposures deemed unacceptable.
An effective risk management system should add value and improve operational efficiency, whilst ensuring that the business is able to survive disaster and unplanned disruption. Our Business Continuity Management Approach involves a multi-stage process with the following stages:
- Business Continuity Programme Review - to assess current business continuity measures, management responsibility and risk/continuity culture.
- Business Impact Analysis - to analyse the business, identify vulnerabilities and the attaching financial exposure.
- Develop Business Continuity Strategies - to address vulnerabilities and protect key elements of the business process.
- Develop Business Continuity Plans, Processes, Procedures - to provide an effective response, following a disaster or interruption event and to secure business recovery.
- Test and Upgrade - to establish a program of regular plan testing and updates to reflect changes within the business.
Diagram: Summary of Vantis' Business Continuity Management Process
We can help you implement this process within your business, covering the development of your Business Continuity Management programme; completion of business impact analyses; and preparation of business continuity plans. We can also work with you to develop appropriate testing and update mechanisms and help embed the continuity culture within your organisation.
Contact
If you wish to know more or would like to discuss how Business Risks Services could be tailored to your requirements, please contact businesscontinuity@vantisplc.com.