UK and other European companies are beginning to reap
benefits frombusiness continuity managementthat
are not directly related to faster recovery after disruptive
incidents, a survey has revealed.
The survey, conducted by insurance and risk advisory firm
Marsh, showed 96% of
business continuity and risk managers polled reported at least one
other benefit from implementing a business continuity management
plan, and 52% reported two or more other benefits.
Half the respondents to the online survey said they had a better
understanding of their business and 37% said their strategic
decision-making had improved as a result of implementing a business
continuity management plan.
Martin Caddick, leader of Marsh's business continuity management
team, said the survey showed progress from when companies accepted
the need for business continuity management merely to recover
disrupted business processes.
"Most firms are not viewing business continuity management as a
compliance or insurance-related issue, but as good practice to
manage their overall operational risk," he said.
The survey results, he said, indicated that many businesses were
beginning to understand the operational value of business
continuity management and were starting to focus on the strategic
benefits.
Marsh's report highlights these benefits, including the ability
to spot risky interdependencies, better allocate resources to key
processes, and improve risk management.
The report's view that a more mature and integrated approach to
business continuity management can yield significant advantages to
organisations through better strategic decision-making and not just
risk mitigation, was a common theme that emerged at this/last
week's Business
Continuity Expo and conference in London.
Speakers at the event emphasised the strategic benefits of
business continuity management such as giving a competitive edge,
demonstrating good corporate governance, attracting better
insurance terms, ensuring regulatory compliance, and providing
increased protection and assurance to staff and management.
Business continuity: the expert view >>
IT sector continuity below-par >>
Standard takes off >>