What is the return on investment of business continuity?
How do you justify to top management any investment in business continuity?
It’s a tough question. If a disruption does occur, then clearly having a business continuity plan will demonstrate significant value, as it will help you manage through the disruption.
But what if a disruption hasn’t occurred?
How do you justify the expense to someone who thinks of it purely as an overhead?
This was the theme for Business Continuity Awareness Week.
Business continuity helps organizations obtain lower premiums for business interruption and supply chain insurance.
Business continuity enables organisations to realise increased efficiencies which may translate to decreased business costs, avoiding costly overlaps and duplication of work as well as streamlining preparation efforts related to compliance.
Business continuity facilitates contract negotiations with customers and suppliers, increasing transparency and raising governance standards.
Business continuity significantly contributes towards optimising organisational performance. Indeed, it is not just an overhead, it is an investment for a better organisation.