The first step in preparing your business for unexpected disasters is making a plan. Business continuity and disaster recovery (BCDR) plans prepare your business, anticipate all eventualities, and ensure that your business experiences minimal operational or financial losses if disaster does happen. Read how following a few basic steps can get you started on a BCDR plan for your business, ensuring you're ready when disaster hits. Contact CBA for tailored advice.
Business Continuity and Disaster Recovery (BCDR) refers to a set of processes, plans, and policies designed to help organizations recover from disasters and ensure the continuation of business operations. It encompasses strategies for dealing with various disruptions, including cyberattacks, natural disasters, and hardware failures, aiming to minimize operational and financial losses.
Why is a BCDR plan important?
A BCDR plan is crucial for several reasons: it helps businesses survive disasters, minimizes downtime, and protects sensitive data. For instance, with 40% of servers experiencing at least one outage annually, and a single hour of downtime costing mid-sized enterprises around $300,000, having a BCDR plan can significantly reduce potential losses. Additionally, it ensures employee safety and compliance with regulatory requirements.
How do you build a BCDR plan?
Building a BCDR plan involves several steps: first, assemble a critical response team; second, conduct a risk assessment and business impact analysis to identify potential risks and their impacts; third, develop recovery strategies based on these findings; fourth, formalize the plan in a documented format; and finally, continuously test and revise the plan to ensure its effectiveness. Regular testing helps identify gaps and keeps employees familiar with their roles during a disaster.
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