Business Continuity Management (BCM) is a key risk mitigation strategy for business interruption and supply chain disruption incidents. It is applicable and highly effective for large organizations and offers exceptional value for smaller enterprises.
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WHY DO WE NEED BCM?
Customers increasingly require suppliers to have a proven business continuity plan before agreeing to buy from them. Similarly, many insurers now recommended or require BCM implementation, supporting business interruption and loss of profit insurance.
WHAT DOES BCM INVOLVE?
BCM includes production of paper business continuity plans but also requires organization, analysis, evaluation, training, reviews and other activities. It should be driven by a management process that identifies risks and impacts, providing a framework for building resilience and response capability.
We can then divide BCM activities into two parts, covering pre- and post-incident planning. The former includes risk assessment, risk prevention, preparation and training; the latter provides emergency response, crisis management and business recovery.
Well-constructed BCM systems need to be flexible and scalable, allowing any organization to and build appropriate resistance to risk and major disruption.
A SOLUTION FOR SMALL ENTERPRISES
Few SMEs have dedicated BCM expertise in-house, and yet to satisfy customers, the result must pass audit and be demonstrably effective.
Fortunately, with the right help and tools, the development and maintenance of your business continuity plan can be uncomplicated, quick and affordable. We suggest using the Inoni Micro™ platform, which offers a perfect solution for you.
Inoni Micro is suitable for companies with a single operating site who need a robust low-cost solution. Your plan will include all necessary pre-analysis, and the following sections:
Plan completion requires you to answer 22 questions covering all the key issues covered by best practice guidance and recognized standards.
Your riskChallenge consultant will help you answer these questions and support you in the preparation of basic documentation (e.g. BCM policy), supporting your efforts to build appropriate organizational resilience and an effective response in crisis situations.
MID – LARGE ENTERPRISES
If you are a larger organization, operating through several locations, it is becoming normal for for customers to require sight of tested business continuity plans. You should also expect to face pressure from insurers to provide evidence of BCP against recognised standards, such as ISO 22301.
The Inoni Essentials™ platform offers a comprehensive automated solution, capable of supporting multi-site businesses and a range of response strategies for different risk situations. The toolset is fully aligned with best practice and related standards and delivers BCM as an end-to-end programme with the following key stages:
Your riskChallenge consultant will support you in developing a dedicated online BCMS using the Inoni platform, building organizational resilience that allows you to effectively respond to incidents and acceptably restore your business.
