5 Ways a Business Continuity and Disaster Recovery Plan Can Save Your Business

employees in a meeting organizing a business continuity and disaster recovery plan

As you hear about one data breach after another, you might think, “How likely is it that my business would actually be hit with disaster?” Many companies, especially ones that are small, make the mistake of thinking they won’t be the primary target for cyber attacks or natural disasters. Therefore, they overlook the benefits and security a business continuity and disaster recovery brings.

However, businesses that are affected by either setback take major damage. One report from the Federal Emergency Management Agency found that about 40% of businesses that suffer from natural disasters do not reopen following the accident, and 25% fail within one year afterward.

Do You Really Need to Be Prepared for Disaster?

The short answer is yes. The importance of preparedness cannot be overstated. Many of the consequences can do irreparable damage to your company’s reputation, including prolonged periods of downtime and the loss of critical data.

Your business’s future—and your own—could be completely jeopardized in the absence of a good plan.

What Is a Business Continuity Plan? What About a Disaster Recovery Plan?

A BCDR plan is a comprehensive set of strategies for restoring business operations and safeguarding critical data in the event of a disaster. It outlines the steps that a company will take to return systems to normal functioning as soon as possible. Basically, it’s your plan in case something goes very, very wrong.

How Does Your Company Benefit From a BCDR Plan?

BCDR plans help minimize financial losses and the risk of facing legal repercussions. You don’t want to suddenly lose a lot of money AND make your clients angry.

Moreover, by having a BCDR plan in place, you can ensure data backup and recovery when needed. This allows for quick restoration of lost files and keeps the business running, even in times of crisis.

5 Ways These Plans Can Save Your Business

How exactly can business continuity and disaster recovery plans help you?

1. Minimizes Downtime

A well-executed BCDR plan reduces periods of inactivity by swiftly restoring all of your necessary functions, which decreases any downtime. Your business survival may depend on how quickly you can get back up and running, and planning for the situation will help.

2. Protects Data and Assets

A good BCDR plan includes data backup and recovery procedures that safeguard any invaluable resources. Losing essential data can spell disaster for a company’s operations. A BCDR plan helps ensure business continuity while maintaining your company’s competitive edge.

3. Maintains Customer Trust

In times of crisis, customers look to businesses for assurance. If a disaster disrupts your ability to deliver products or services, it can damage your relationship with your customers, even resulting in a loss of trust. The ability to provide uninterrupted service reinforces customer trust, which in turn can help retain clients.

4. Keeps You Compliant with Legal and Regulatory Requirements

Businesses face many legal and regulatory requirements, including data protection obligations and industry-specific stipulations. Non-compliance can lead to severe penalties that could put your company out of business..

Being prepared will help you maintain secure and accessible backups of crucial data, and your business avoids costly penalties and potential legal complications.

5. Reduces Financial Loss

In the event of a disaster, every minute of operation lost translates into financial losses. A well-devised BCDR plan helps reduce these financial losses and essentially serves as a financial shield that protects your business from the potentially devastating economic impact of disasters.

Why Regular Updates Are Important for Your Plans

You should update and maintain your plans regularly to keep them relevant and effective. Technology evolves quickly and cybercriminals learn new tactics to attack businesses. Your business continuity and disaster recovery should adapt accordingly. 

This practice can guarantee ongoing protection of your business assets, preservation of customer trust, and maintenance of regulatory compliance.

Entrust RedNight Consulting With Designing Your Plan

At RedNight Consulting, we believe in using teamwork and communication to improve businesses like yours. With years of experience creating effective BCDR plans, we can help you create a plan that will hold up in the face of resistance. Contact us today to start building the ideal backup plan for your business.