Business Continuity and Why it is Important
Business Continuity and Why it is Important

 

Business Continuity is a business's level of readiness to maintain or quickly resume essential business functions (Recovery Time Objective) after an emergency or disruption. These events include security breaches, natural disasters, power outages, cyber-attacks, etc. Continuity within your business is critical in a day and age where downtime is unacceptable. A Business Continuity Plan ensures the resilience of critical functions, infrastructure, and staff.

 

What does a business continuity plan mitigate?

A thoroughly tested business continuity plan can help mitigate the  following adverse effects of unforeseen business disruptions: 

Financial Impact:

Sales and revenue can be directly impacted by disruptions to product supply chains and critical customer services. Unplanned disruptions leading to downtime can lead to increased costs for a business, as efforts are directed toward restoring operations and addressing previously unforeseen threats. 

Reputation and Brand Impact:

The inability to swiftly resume operations and meet customer expectations may lead to customer defections and harm the brand. This damage to reputation can cause further financial impact of a business disruption.

Regulatory Impact:

Businesses that inadequately address disruptions may face complaints from customers and vendors, potentially attracting regulatory scrutiny or censure. Business continuity planning is mandatory to ensure regulatory compliance in heavily regulated sectors like energy and financial services. 

 

Case Study

A company hit with ransomware that infiltrated their backup data took six weeks to recover due to poorly architected backups, lack of robust replication, and the absence of a continuity plan. The company eventually paid the ransom but could not recover all of its essential data. Their inability to quickly resume operations led to the loss of 65% of their customer base and significant financial loss. The company reached out to ICG, and we reworked their entire infrastructure, properly set up their backups, and implemented proper security and SOC monitoring to ensure that there wouldn't be a repeat event, ever!

 

ICG Specializes in Continuity Planning

An effectively designed and tested Business Continuity Plan is crucial for facilitating a prompt recovery from disruption. ICG specializes in continuity planning, security planning, infrastructure architecture and implementation, and all backup and disaster recovery methodologies that are required to ensure your business continuity is ensured. Below is a subset of our services that are a must for ensuring business continuity and recovery.

Backup:

Proper backup strategy is essential for data protection. Regularly reviewing and testing your backup processes is our number one priority. It ensures a reliable foundation for business continuity. Remember: your business is only as good as your last RESTORE. We provide extensive backup solutions for even the most sensitive information. That's why ICG invokes three data copies on two media types with two offsite copies. This way, when disaster hits, hope isn't lost.

Disaster Recovery:

Plan for the unexpected. While you may go to great lengths to protect your company, some things are out of your control. ICG's Disaster Recovery Services provide your business with a strategic plan to protect you from natural disasters, blackouts, and cyber-attacks. Testing, training, and communication are crucial to our rigorous process. We determine RTO and RPO and outline a plan of action before, during, and after the damage is done.

Replication:

One copy is never enough. We stress the importance of ensuring your data is copied and moved between your company's sites so your data remains available no matter what happens. Replication comes in many forms, from hardware and software to on-premise and offsite. At ICG, we don't let disaster slow you down. We architect the "right replication" solution for your business.

 

A well-developed Business Continuity Plan is crucial to organizational resilience, helping businesses navigate disruptions and continue their operations under challenging circumstances. Regular reviews, updates, and testing are essential to maintaining the plan's effectiveness.

 

 

Do you have a Business Continuity Plan? If not, contact ICG today.