Why is business continuity management so important?

In recent news, Eir’s Internet network service went down on Saturday, 13 October, affecting thousands of customers across Ireland. A statement from the company said: “Service has been restored to those Eir customers that were impacted by the internet access outage. We apologise again to our customers for the inconvenience this has caused. In instances like this, it is vital for an organisation to have BCM (Business Continuity Management) processes in place. 

BCM involves planning for any potential disaster by identifying potential threats to an organisation and analysing their impact on its day-to-day operations. 

Effective BCM ensures the business can provide a minimum acceptable service in the event of a disaster, and helps preserve corporate reputation, image and revenue.  

A growing body of legislation requires businesses in essential areas to implement effective business continuity arrangements. Globally, corporate governance regulations require directors to “exercise reasonable care, skill and diligence” to mitigate risks facing the organisation.

Organisations operating in critical infrastructure industries will soon be required to implement incident response capabilities in line with the requirements of the EU’s Directive on security of network and information systems (NIS Directive). Implementing effective BCM is the best-practice approach to effectively manage business interruptions and incidents, and to meet the Directive’s requirements. 

The current cyber threat landscape has made business leaders more aware of the risks of cyber attacks, and the importance of being able to respond to and recover from such attacks. 

How to achieve effective BCM

Effective BCM, based on international best-practice standards such as ISO 22301, can protect organisations from widespread business disruption in the event of a successful cyber attack. 

An effective BCMS (business continuity management system) is centred around the BCM lifecycle, which involves identifying threats, performing a business impact analysis, designing and implementing a business continuity plan, compiling documentation, measuring and testing performance, and maintaining and improving BCM processes. 

Further reading

Download our free green paper, Business Continuity and ISO 22301 – An introduction, to:

  • Discover the benefits of business continuity management;
  • Understand how business continuity differs from disaster recovery;
  • Learn the basics about a BCMS (business continuity management system); and
  • Discover how the international standard for business continuity management, ISO 22301, can support your implementation project.

Download now >>

 

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