Companies stepping up business continuity

Six years ago, just 30% of firms had corporate business continuity plans: today, 83% of the 273 US firms surveyed in a joint study by Deloitte & Touche LLP and business continuity firm CPM have formal plans.

Six years ago, just 30% of firms had corporate business continuity plans: today, 83% of the 273 US firms surveyed in a joint study by Deloitte & Touche LLP and business continuity firm CPM have formal plans.

“Companies realise that a temporary disruption can significantly damage shareholder value and erode their customer base,” says Steve Ross, director and business continuity director leader of Deloitte & Touche’s security services and privacy practice.

“Today, recovery time objectives of core business functions are measured in hours, not days. And even if they can withstand some downtime, many companies cannot accept any data loss.”

Sarbanes-Oxley, Basel II and other regulations have fuelled this growth as much as terrorist threats, maintains the report. The investment mirrors this commitment. Almost 30% of the respondents allocated $1m to business continuity management – an 11% hike from 2004.

Business continuity analyst Datamation says 40% of firms that don’t have a business continuity plan in place never recover from a major disaster.

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