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Business Continuity Planning (BCP)

Preparing your organization against potential business interruption

In today's globalized age, companies face a wide variety of natural and man-made threats for which they need to prepare. Yet, in an age of lean manufacturing, outsourcing, and financial uncertainty it becomes increasingly difficult to prepare for emergencies and ensure business continuity after a disaster happens.

What is Business Continuity Planning (BCP)?

Regardless of the industry, all organizations are exposed to risks that can be attributed to a range of manmade and natural disasters, supply chain risks and/or utility outages. Such incidents have the potential to disrupt critical operations, creating catastrophic results and severe Business Interruption (BI). According to Allianz’s 2015 Global Claims Review, the impacts of BI have been ranked as the top risk faced by global businesses, and the consequences of such disruptions can be seen in industries and facilities around the world. Some of the top causes of BI include fire and explosion, storms and natural disasters, machinery breakdown, and human operating error.

Why is Business Continuity Planning Important for my Business?

Experience has proven that companies which are unprepared for a disaster are less likely to survive one, regardless of the company's financial condition or insurance coverage.

Identifying business interruption risk, quantifying the potential impact to your company, developing mitigation strategies, and preplanning for a disaster are the keys to survival. These tasks are generally referred to as Business Impact Analysis (BIA) and Business Continuity Planning (BCP).

Risk managers are faced with the daunting task of keeping abreast of their company’s Interdependent/Contingent Business Interruption Risk (IBI/CBI). But the need is greater than ever when you consider the following factors:

  • Regulations and standards such as ISO 22301, ISO 31000, NFPA 1600, and Sarbanes-Oxley hold officers accountable
  • Greater sensitivity to interruption of revenue stream from natural and man-made disasters
  • Increase in disasters (man-made and natural) with an extensive history of failures
  •  Increased insurer focus on BCP/supply chain loss potential

TÜV SÜD'S BUSINESS CONTINUITY PLANNING SERVICES WILL HELP YOU PREPARE

Our experts will use our knowledge of your company, industry, equipment, production bottlenecks, and exposures as the key components of the BCP process. Unique offerings to our clients include:

  • Manufacturing Expertise: Many BCP consultants focus on finance and information technology while leaving production and supply chains vulnerable. We know industry and processes, and we leverage that knowledge for your benefit.
  • Customer Insight: We know our clients because we go to your sites.
  • Risk Management Expertise: Business Interruption, Interdependency, Contingent BI; we live these enterprise risk management issues every day.
  • Independence: You own the information, not a third party or insurer.

Have a question or need immediate assistance? Get in touch!

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