Key Drivers Radically Transforming Business Continuity Management

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Gain a 360-degree view of the interconnected and hyper-extended enterprise and supply chain to manage the ripple effect that one event can have on the business and across the supply chain.

No doubt today we are more connected to one another than ever before. Social media has given us unprecedented access to people, their conversations and their lives. Our businesses are also more inter-connected than ever before. The globalization of supply chains, emerging market opportunities, and an increasingly mobile workforce means we are traveling, networking, and collaborating in new and exciting ways.

Because of this, the concept of a "local" or "isolated" incident no longer holds true. Today, a natural disaster on one side of the world can unleash a ripple effect that is immediately felt across the globe, destroying workplaces, affecting power supplies, and damaging transportation and communication infrastructure. These effects often continue to ripple on beyond the disaster's focal point. When the Gulf of Mexico coastline was ravaged by Hurricane Katrina, the resulting damage to oil rigs and refineries caused a sharp spike in oil prices, affecting the energy sector and end consumers across the nation. In light of this, the need for a technology-enabled platform that can manage proactive risk management, disaster recovery planning, and business continuity in tandem has never been more important.

Ingenious. Innovative. Intuitive. Complex. These are a few of the words one might use to describe today's technology landscape. No doubt the last decade – and the last year - has ushered in some of the most advanced and awe-inducing technological feats – from apps, to robots, to delivery drones. Visionary men and women around the globe are leading us bravely into an entirely new technologically advanced world. But as the multitude of devices, advanced systems, and enterprise networks grow in size, scope, and complexity, the potential impact of natural and man-made disasters on individuals and organizations also grows exponentially. Effective disaster recovery planning is increasingly leveraging advanced technologies in a way that supports, strengthens, and streamlines the various processes, policies, and procedures needed to maintain business critical functions following a disruptive event.

In early November 2013, Typhoon Haiyan made landfall, ripping through the Philippines, killing thousands of people, displacing hundreds of thousands of others, and causing billions of dollars in damage. Over the last decade, natural disasters – from Hurricane Katrina, the Japan tsunami and earthquake, the Haiti earthquake – have all occurred with alarming frequency and increasing impact. Typhoon Haiyan is no longer considered the exception. It is not an anomaly, and we can expect to see more disasters of this size, scale, and magnitude in the future.

Overcoming the challenges of today while preparing for tomorrow requires that organizations focus their efforts and resources on three critical areas that will transform business continuity management (BCM) in 2014; gaining a 360-degree view of the interconnected and hyper-extended enterprise and supply chain, reducing time and tolerances for outages, and establishing an integrated BCM, business resilience risk management, security, incident management, and crisis management program.

In this slideshow, Yo Delmar, vice president, GRC Solutions, MetricStream, takes a closer look at the factors that are transforming business continuity management.

 

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