Opening and operating a business brings several challenges. One that is often overlooked is the business continuity risk.
An estimated 80 percent of companies in the United States have experienced a data hack. Thousands are affected by severe weather annually. You’ll need to develop a plan to ensure business resilience when your business is faced with new challenges.
Access to your brand’s data is essential to running operations after a disaster. You’ll upload the data and continue operations with minimal downtime. It’s a step toward providing excellent service to your customers.
The good news is that you’ve come to the perfect place to get guidance when creating a business continuity plan. Continue reading to invest in business risk management today!
Assess Your Operations
When assessing and preparing for continuity risks, looking at your company’s operations is the best place to start. The day-to-day operations will involve several processes and systems. Knowing how to cope when those systems are down is critical to providing the services your customers expect.
Investing in the best technology and network systems is a waste if you cannot protect your data. Look at the systems your business requires to function. Identifying your weak points is the best way to protect your data and ensure operations continue.
When assessing, view your systems through the lens of how your daily operations would continue without each system. Determine if you’re handling data appropriately. It’s also beneficial to look at the risk to your customers’ data.
Identify the Risks
You’re running several risks if you choose not to develop a business continuity plan. Risk assessment is an outstanding way to determine your preparedness for potential disasters. You’ll also gain more clarity on the consequences of those disasters should they strike your brand.
Some typical risks you’ll experience when operating a business are human error, network failures, and criminal acts. A network with weak security will allow opportunities for hackers to access your business and customer data.
A systematic review of your business’s systems is the best way to prevent a disaster. You’ll know what could go wrong. It’s the first step toward assessing what you can do to protect your operations.
Create Mitigations
After finding the risks your business faces, it’s critical to prevent them with a business continuity plan. You’ll know how to proceed if a hurricane causes the power to go out or a hacker gains access to your network. It’s worth noting that not all problems are equal for your company.
Some business continuity risk possibilities could affect output, while others will result in data loss or corruption. Work with your team to assess each risk. Use their expertise to develop ideas and plans to mitigate those risks and keep your brand online.
Use a scoring system to measure which risks pose the most significant problems. Prioritize those risks to develop effective strategies to counter them. You can also add an extra layer of protection with business liability insurance.
Consider upgrading your company’s security software and implementing business continuity controls. The software will do much to keep hackers out of the network. Training your employees on disaster preparedness and threats facing the company is an outstanding way to stay ahead.
Backup Your Systems and Data
Backups are one of the best things to happen to corporations and small businesses. Having your data and files stored on a secure server provides peace of mind. If you’ve taken the proper steps after determining your business continuity risk, you’ll have a data backup ready.
Cloud processing is an excellent way to protect your data. It’s secure and provides a quick and straightforward process to get your business operating after a disaster or data breach. If you choose a cloud provider, ensure they have a top recovery process to help you retrieve your data.
A third party is the best choice to minimize costs while enjoying the benefits of data backups. With a cloud data backup, you’ll increase your brand’s preparedness for a disaster. You’re investing in your ability to remain resilient when facing significant challenges.
Invest in Protection
Cutting corners with protection and network security is a recipe for disaster for your small business. The peace of mind of business liability insurance isn’t enough to ignore the need for robust network security software.
Firewalls are excellent to keep unwanted users and visitors off your business network. Anti-virus software will prevent viruses from taking root on your network and devices.
It’s also worthwhile to invest in training for your employees. They’ll learn what to look for to prevent phishing scams. The best systems in the world won’t protect your customers if you can’t prevent a data breach or stolen customer information.
Ensure you’ve invested in the best protection from day one of opening your company. The threats of cybercrime are evolving, and your business must evolve with them to ensure business continuity.
System Ownership
Communication and delegation are crucial to your business continuity plan. Everyone must know the data and systems they’re responsible for during a disaster. Helping your employees to know which parts of the plan they’re responsible for will keep each person on the same page.
These individuals will also know the weaknesses in the system. They can provide insight into the best approaches to protect your network and data.
Create a system to audit and review your business continuity plan. You can hold your managers accountable and learn if further investment is necessary. It’s another way to prepare for everything from floods and tornados to scammers and hackers.
Assess and Protect Against Business Continuity Risk Today
Learning the steps to take to counter business continuity risk is essential to protect everything you’ve built and your customers’ information. Look for weaknesses in your network and invest in robust security software. Backup your data and create system ownership to ensure employees know what to do during a disaster.
Your business security is the only thing preventing hackers from stealing valuable data. Explore our Security content for tips and tricks to protect your brand today!
