Business Continuation
For years I have observed firms wrestle with the development of disaster recovery and business continuation plans. Much has been written about the technical aspects and the justification for such plans. In reality, I have seen IT professionals spend countless hours developing a reasonable strategy only to have the partners vote to literally do nothing rather than fund the budget. Subsequently, the plan becomes obsolete and then someone becomes motivated to start the cycle again. The time has come for owners to recognize that business continuity is not an IT responsibility, but a firm management responsibility.
Unfortunately, many firms have been tested the past few years, and some have experienced losses. Ninety percent of companies unable to operate within five days after a disaster are out of business within one year. Katrina was certainly a well documented disaster, as were the blackouts in the northeast. But what about other disasters such as fire, theft, floods, lightning, pandemics and tornados? Is your firm protected?
Your answer is probably, “Sort of”—at best. You may have data backed up remotely; but what about personnel issues, phone systems, Internet access and alternative power resources? Most people think about hardware and software when considering disaster planning, but those who experienced the hurricanes realized the technology was back to work much earlier than people (especially from an emotional standpoint).
What can a firm do?
How can a firm afford to protect itself? Whose responsibility is business continuation? Those partners who resist paying for protection are generally the ones who complain the loudest when an interruption occurs. There is a reasonable answer to these questions—one that even the smallest of firms can afford. I have found a way for firms to protect themselves against unforeseen risks and put the pieces of the puzzle together with haste. Several Boomer Technology Circle™ member firms have implemented this strategy and will speak to its validity.
There are three components to the strategy:
- The Plan—Outlines the employees and other resources necessary to restore the firm’s critical processes following an interruption.
- ReadySuite membership with Agility Recovery Solutions—Provides the four key elements of recovery: power, space, technology and connectivity on an as-needed basis.
- Business continuation insurance—Provides financial resources for recovery
You have probably thought about a recovery plan and business continuation insurance and the status of each is probably a work-in-progress. If you haven’t reviewed your business continuation policy recently, you should because many insurance companies have changed their policies since Katrina—specifically with regard to data and voice services.
Solutions
Agility Recovery Solutions provides an innovative, scalable solution or all organizations. ReadySuite membership provides access to all of its resources, delivered within 48 hours for a small monthly fee. It ties the plan and insurance coverage together. Some insurance carriers now recommend Agility because it can limit losses in the case of a disaster, and they know the firm will be back in business within 48 or fewer hours.
As an added-value to ReadySuite members, they offer MyAgility—a secure web portal with tools and resources to aide in plan development in addition to customized consultation. Since the plan is a dynamic document with related documents such as contact lists and insurance policies, it is best to store them in an ASP environment accessible at any time.
Agility was founded in 1989 as a division of GE. For years they have provided disaster recovery services for Fortune 500 firms. They developed the ReadySuite solution because they believe that every business should have access to business continuity services that are simple and easy to use. Memberships start at $250 per month, and if you experience an interruption, they will put your recovery plan in motion and bill you for the associated out-of-pocket costs.
I encourage you to stop procrastinating and take the three easy steps required to develop an executable recovery plan for your firm. Review your existing plan, contact your current insurance carrier as well as Agility Recovery Solutions and get started today. Hopefully you never experience an interruption, but by implementing this 3-step strategy, you will have peace of mind and the ability to service your clients regardless of what the future may hold.
