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ICT Business continuity primarily focuses on ‘A’, that is “availability” of the CIA triad of information security. Many companies that aren’t effectively prepared for disaster situations simply cannot bounce back from a significant crisis. In fact, up to 75 percent of businesses fail within three years after a major disaster.
In natural disasters, violent incidents and other dangerous emergencies, the safety of your employees, visitors, customers and other individuals becomes a very real concern. This is particularly true in organizations without an effective business continuity plan. Companies that use traditional, hard-copy planning methods often fail to effectively communicate with stakeholders during an emergency, which leaves them ill equipped to respond to the situation at hand.
Data breaches, server downtime, Network downtime, application downtime, weather emergencies, earthquakes, flash floods, cloud bursts, lightening, riots, terrorist attacks, sabotage and other crises can be extremely costly, especially when you haven’t made a plan to mitigate unnecessary financial damage. Year after year, businesses lose hundreds of million of dollars due to downtime alone—and that doesn’t take into account the other causes of financial loss, such as insurance claims, lost product and public relations efforts.
A company’s response to a crisis can have a huge impact on the way their customers and the public views it. Following a data breach, or downtime people may perceive it as unsecure, and unreliable. There are a million ways in which crisis can alter your public perception, and it’s important to be prepared.