In a world of uncertainty and ever-changing trends, true business houses have to show resilience to survive. As running a business is often compared to waging a war, implementing crucial strategies to win customers as well as market share, most businesses fail to fathom how to turn around from an unseen event. The reason is the lack of a business continuity plan and adopting Digital Transformation.
What is the Business Continuity Plan (BCP)?
A business Continuity Plan (BCP) can be best described, as a comprehensive document, outlining how a business would continue its operation, in the event of unseen or non-forecasted disruption. The Business continuity plan helps organisations to bounce back quickly post an occurrence of such disruptive events.
The worst such event of global disruption the world has witnessed globally is through COVID-19. Lockdowns and other restrictions impacted businesses majorly worldwide. Yet, post COVID-19 lockdown ceased to exist, a survey with 300 companies worldwide, posted a grim picture of their Business Continuity Plan.
27% of the respondents, still don’t have a business continuity plan, and 24% are still developing a plan. Of the entire respondents, a mere 18% have a plan that has been implemented (get the full survey here).
The deficiency in preparedness and response has garnered the scrutiny of Boards and executive management, prompting a potential shift towards a more committed stance on business continuity. Recognizing the financial and operational risks associated with establishing a business continuity program, a novel approach is gaining prominence.
This approach adopts a managed service model, drawing parallels to established IT services like Software as a Service (SaaS).
In the face of evolving challenges and an increasing awareness of the need for resilient business practices, organizations are considering managed service models as a strategic solution. This paradigm offers a structured and outsourced framework for business continuity, potentially alleviating the burden on internal resources while enhancing the effectiveness of continuity initiatives. A well-designed BCP initiates a company’s journey through Digital Transformation beyond ERP.
By embracing this model, businesses aim to navigate the complexities of disruptions with greater agility and efficiency, fostering a proactive culture of preparedness. As Boards and executive leadership seek ways to fortify their organizations against unforeseen events, the emergence of managed service models in the realm of business continuity represents a notable evolution, emphasizing adaptability and shared responsibility in safeguarding the continuity of critical operations.
Opting to build an in-house program demands a substantial investment of time, capital, and resources. This route involves recruiting and training new or experienced staff and constructing the necessary infrastructure, including specialized software, to develop, implement, and manage a sustainable business continuity program. While this approach allows for a tailored solution, it comes with the challenges of prolonged implementation timelines and potential gaps in methodology, tools, and experience.
At the other end of the spectrum, consultancy services offer their expertise in overcoming these challenges, providing solutions accurately needed for one’s business. This spares the organizations to create a separate infrastructure to address the situation, rather they can focus more on their core competencies.
Amidst these considerations, a new paradigm is gaining prominence as a more affordable, flexible, and effective alternative. Drawing inspiration from the “as a service” model prevalent in the realm of Information Technology (IT), where offerings such as
Software as a Service (SaaS),
Platform as a Service (PaaS), and
Infrastructure as a Service (IaaS) has become commonplace
The concept of “Business Continuity as a Service” (BCaaS) is emerging as a potential game-changer. BCaaS aims to cater to companies facing common challenges such as the absence or limitations of a dedicated Business Continuity department, constrained budgets, time constraints, outdated continuity plans, hurdles in securing management buy-in, and the need to fulfil internal audit and regulatory requirements.
Moreover, as surveys and research has found, only 10% of business have survived without a business continuity plan (read here)
BCaaS managed offerings present several key advantages. Likely, they provide a fixed-year service cost, mitigating the variability of operating costs.
This predictable pricing model enables organizations to allocate resources more efficiently and strategically.
Additionally, BCaaS allows companies to redirect their focus towards core competencies, alleviating the burden of managing intricate continuity programs internally. ERP designed for plantation and agricultural farms, helps these industries to gain competence too.
The implementation curve is notably shortened, leveraging the expertise and capabilities of BCaaS services teams. These teams bring with them proven methodologies, toolkits, and specialized software, streamlining the automation of the program.
Furthermore, BCaaS facilitates improved Business Continuity Management by offering a structured program deployment roadmap, comprehensive metrics, and project management, all aligned with industry best practices. The inherent flexibility of BCaaS allows organizations to adapt and expand the scope or capabilities of their continuity programs as needed along with Digital Transformation, all at a predictable cost. This adaptability aligns with the dynamic nature of business environments, enabling companies to respond effectively to evolving challenges.
In conclusion, as the landscape of business continuity evolves, BCaaS emerges as a pragmatic and contemporary solution for organizations seeking to navigate the complexities of resiliency programs. Its cost-effectiveness, flexibility, and alignment with industry best practices position BCaaS as a compelling option in the spectrum of business continuity solutions, providing a pathway for businesses to fortify their resilience in an unpredictable world.
BCaaS offerings to Check:
1) Metrics assessing current scenarios and tracking improvement after the implementation of Business Continuity Plans
2) Implement a Business Continuity plan to enhance Digital Transformation of Business
3) Developing indigenous Software to automate continuity management, as well as redundant tasks and activities
4) Flexibility to change the scope and expand capabilities.
5) To steer the implementation of the plan towards a desired result uplifting the organization’s technical infrastructure.
Softweb Technologies has been providing industries with tailor-made solutions to add to their business continuity plan, along with complete digitization and automation of their operations. As organizations have to respond quickly to any disruptive events, as well as unwarranted external factors affecting individual business, Softweb as a true Saas & BCaas provider, safeguards business data and operations, protecting from any external harms.
To learn about Softweb Technologies’ services, visit our website, and schedule a meeting with our ever-helpful and proactive team. But Do Not let any unprecedented event disrupt your business.
