What is ISO 22301? What are the Benefits of ISO 22301 for Your Business?
30th Jul, 2020
In the times of the unforeseen circumstances such as disasters or business disruptions, businesses often slow down, experience significant loss, find disturbances in the important aspects of business including people, processes, products and services or even come to an abrupt end. In order to prevent the unfortunate results and efficiently manage through the challenges, it is essential for organizations to be resilient and have strong security, business continuity and recovery plans.
The simple and foolproof solution to manoeuvre through disasters or disruptions is the ISO 22301 Business Continuity Management System (BCMS). In order to understand the advantages and importance of the system, we need not sift through history but only take the example of our present time, the coronavirus pandemic. When a pandemic is a very rare occurrence, there are other instances such as power supply issues where the standard work management is disrupted. Organizations with Business Continuity Management Systems are more likely to adapt and solve critical challenges due to their prior planning and risk assessment solutions and established alternatives. Let’s understand the ISO 22301 BCMS in detail.
What is ISO 22301 Business Continuity Management System (BCMS)?
ISO 22301 is an international standard for Business Continuity Management System that provides a practical framework for organizations from all the industries. It essentially helps them to mitigate the damages and continue business operations with adaptability and efficient solutions during the time of business disruptions or disasters. With a strong BCMS, an organization is equipped with contingency plans to prevent or prepare for the disruptive events, whether it is a catastrophe or a minor incident.
The ISO 22301 (BCMS) provides a comprehensive framework and proven structure enabling organizations to build, update, control and implement effective plans that also align with your organizational operations, contingencies, and business requirements.
ISO 22301 leads you to establish and manage an effective BCMS and protect your organization from unforeseen instances and emergencies by helping you develop resilience and improve the risk management processes.
Some of the Probable Instances where ISO 22301 BCMS Can Help You in Are:
- Natural Disaster
- Man Made Disaster
- Technology failure
- Utility disruption
- Intentional Sabotage
- Cyber Security Attacks
What does ISO 22301 Help You With?
- Operational Resilience
- Business Continuity Policy
- Business Impact Analysis
- Business Continuity Plan
- Business Continuity Strategy
- Recovery Plan
- Emergency Preparations
- Risk & Crisis Management
- Security & Protocols
What are the Benefits of ISO 22301 BCMS?
Benefits observed in the business operations include:
- Meet strategic business objectives
- Gain competitive advantage
- Increase reputation and credibility
- Improve operations, supply chain and information resilience
- Ensure the ability to continue business with maximum output/results despite the disruptions
- Eliminate operational glitches and vulnerabilities
- Establish robust response and recovery procedures
- Reduce dependence on individuals
- Enhance corporate reputation
- Abide to the legal and regulatory requirements
- Improve process and organizational focus
Benefits observed in the financial aspect:
- Protect assets, turnover and profits
- Conduct an independent assessment of your security
- Prevent large scale damage
- Safeguard profits and assets
- Reduce risk associated direct and indirect costs
- Reduce insurance premiums
- Reducing legal and financial risk
Benefits observed from other parties perspective:
- Build confidence and trust of stakeholders, vendors and customers
- Protecting life, property and environment
At 4C we have been empowering clients with business continuity management systems to successfully manage through unforeseen situations and stay ahead of the curve. With 30+ BCMS certification and 500+ hours of BCMS training for 15+ clients, we have gathered expertise and insights that can help you in ensuring smooth business operations regardless of disaster or disruptions. To know how you can implement a BCMS in your organization, Contact us now.