What is the return on investment of business continuity? How do you justify to top management any investment in business continuity? It's a tough question. If a disruption does occur, then clearly having a business continuity plan will demonstrate significant value, as it will help you manage through the disruption. But what if a disruption hasn’t occurred? How do you justify the expense to someone who thinks of it purely as an overhead?
This is the theme for Business Continuity Awareness Week, and to help demonstrate the value that business continuity has to the organization, the Business Continuity Institute has published a new paper that highlights some of the added benefits. Combining a mixture of research and case studies, ‘Business continuity delivers return on investment’ explores some of the main returns including:
- Business continuity helps organizations obtain lower premiums for business interruption and supply chain insurance.
- Business continuity enables organizations to realise increased efficiencies which may translate to decreased business costs, avoiding costly overlaps and duplication of work as well as streamlining preparation efforts related to compliance.
- Business continuity facilitates contract negotiations with customers and suppliers, increasing transparency and raising governance standards.
The paper makes it clear that business continuity significantly contributes towards optimising organizational performance. Indeed, it is not just an overhead, it is an investment for a better organization.
Click here to download Business continuity delivers return on investment.