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What Is a Business Continuity Plan and Why Does Your Company Need One?

Business Continuity word cloud concept on blackboard

Companies today face a huge number of challenges and risks to their ability to provide continuous service. Between the increasing number of severe weather incidents, an increased reliance on complex technological programs and intricately-wound supply chain networks, there are more ways for your business to face an outage or a dip in supply.

So how does your company handle these risks and mitigate their effects? For most, the solution is a threat prevention and continuity plan for businesses.

What Is a Continuity Plan?

Essentially, a business threat prevention and continuity plan is a strategy for handling threats. This strategy itemizes threats and risks to the company in question and sets plans in place to mitigate problems in the event one of these threats or risks affects the business. The business will then refer to this continuity plan as needed, minimizing the confusion after an event occurs and keeping business flowing as smoothly as possible.

Business Continuity Plan vs. Disaster Recovery

Though the two terms are often used interchangeably, a disaster recovery plan and a business continuity plan are very different. Whereas a business continuity plan helps ensure that essential business processes continue despite losing a system, a disaster recovery plan develops a strategy for getting back the lost system. These plans are often used in tandem so your business can still function while handling any problematic situations.

Why Need a Continuity Plan?

Continuity plans for businesses are essential to your organization’s operations, since they represent the following advantages:

  • Employee Assurance: After a primary system goes down or is compromised, the immediate thought of employees is how to proceed with their work. This situation is especially stressful if the employee is already interacting with a customer. With a business continuity plan, your employees will know exactly what they need to do to keep things running smoothly, reducing their stress levels and improving job satisfaction.
  • Decreased Downtime: When a system goes down or is compromised, it can mean a complete halt to your business. But this doesn’t happen if you have a business continuity plan. With a business continuity plan, your company can continue serving customers despite the outage, executing whatever needs to be done to keep things running and keep bringing in revenue. This means the “downtime” where no services are being rendered at all is kept to a minimum.
  • Continued Service: Outages and security incidents can be costly for your business, as customers will often consider alternatives if outages are frequent and extensive enough. With a successful business continuity plan, your business can continue serving as much as possible, minimizing customer dissatisfaction and effectively retaining customer loyalty.

With so many threats in the world today, your business can’t afford not to have a business continuity plan. So how do you develop one? CTI can help you through it.

Contact CTI to Learn More

Consolidated Technologies, Inc. is a B2B software solutions provider with the technology and experience your business needs to achieve greater heights. Our innovative staff of experts has helped over 2,000 companies navigate the complex technological world to achieve greater functionality and we can help your business, too.

Learn more about CTI’s solutions by browsing our page or Contact Us today.