The benefits of Business Continuity Management
XGRC’s Integrated Business Continuity Management System (BCMX) merges all business systems and processes including business risks, threats and vulnerabilities that could impact companies continued operations into one common cohesive framework.
Business continuity management is an essential part of any business as it looks beyond dealing with emergencies as it takes into account what is needed to get the organisation operates as soon as possible. It also looks at what is required in order to keep the business and its dependants working—not having a businesses continuity management system can affect many aspects of the company, including employment.
Having a business continuity management strategy does not only provide risk management but can also be considered a basic human right. This due to the fact that it provides employment continuity by ensuring that employees return to the workplace after a disaster, confidence continuity and social continuity by ensuring no one is negatively affected through non-collection of tax.
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The benefits of having a Business Continuity Management system include:
- Minimises the effect of disruptions or disasters on a business
- Balances conflicting objectives
- Conducts and automates the business impact analysis process
- Reduces the risk of financial loss
- Enables recovery of critical systems
- Enables businesses to meet the statutory and legal obligations
- Increases profitability
- Improves communication and facilitate training and development
- Helps to retain company brand and image
- Gives staff members, clients and suppliers confidence in the services the organisation provides
- Eliminates conflicting responsibilities and relationships
By implementing business continuity management systems organisations are able to ongoingly monitor and review the performance and effectiveness of the system. This allows businesses to build organisational resilience and ensures the organisation has the capabilities for the effective response for continuous improvement based on business objectives.