Having a business continuity plan in place will allow you to quickly resume operations in the aftermath of an interruption, minimizing its impact on your organization. This is especially important for small businesses—40 percent of which never recover from a disaster. Unfortunately, most companies are not adequately prepared for such a situation. According to a PwC survey of business leaders, a staggering 95 percent of respondents believe their crisis management capabilities need improvement.

 

Most businesses have insurance to protect them from potential crises, but insurance only goes so far. While it may cover you for the costs of repairs or replacement of equipment, it will hardly cover all of the damages. No insurance policy can restore your data, the lifeblood of any business. Could your company survive without being able to replace all of its data?

 

While data is digital gold, business continuity plans are about more than just restoring your lost or compromised files. They mitigate downtime, prepare your employees with guidelines to follow in the event of a disaster, and ensure communication and mission-critical functions can continue in the aftermath. Business continuity plans safeguard your company so that it can continue to operate securely and efficiently no matter what life throws at you, which is critical to the survival of your business.