A Toolkit for Business Continuity Planning
Business continuity planning can help your business recover from a range of scenarios, from a pandemic or severe weather disaster to cybercrime or supply chain disruptions.
When it comes to disasters, we’ve seen it all in Texas. We’re built tough for severe weather disasters — everything from hurricanes and flooding to tornadoes, wildfires and heat waves. At the same time, we face unseen risks from a pandemic virus, cybercrime and other threats. The potential for long-lasting negative impacts on communities and businesses is high as these threats loom large, and it’s important to keep your guard up and plan for a range of scenarios.
Business continuity planning can help you prepare for business closures, health and safety risks, damage to buildings and equipment, supply chain disruptions and more. Having a plan and executing it quickly can help your business survive, thrive and reopen sooner following a disaster or disruption. Consider the following resources at each stage of planning to help you create or update your business continuity plan.
Business Impact Analysis
It’s important to have a complete understanding of the risks and potential hazards to your business so you can plan for the resources needed for recovery. Identify disaster scenarios and the level of risk to your business operations, as well as the time-sensitive and critical business functions that could be impacted in different situations. Conduct a risk assessment of severe weather disasters and other circumstances that can negatively impact your operations. Helpful resources:
Identify the resources needed to restore normal business operations, which may come from within your organization or third parties. Your recovery strategies should address resources including managers and staff, office space and facilities, technology, machinery and equipment, inventory and materials, utilities and third-party resources. Your recovery strategies may include remote working solutions, relocation plans, shifting to curbside or home delivery options and other workarounds. Helpful resources:
Develop Your Plan
Develop a framework for your business continuity plan and document your recovery strategies and emergency procedures. Organize recovery teams and establish key roles related to workflow and decision-making. You may also want to draft a communications plan for sharing key information with employees, suppliers, key customers, emergency agencies and the media in the event of a disaster. Helpful resources:
Training and Testing
Conduct training for your recovery teams so they are prepared to take action during stressful situations. Training and testing can help clarify roles and responsibilities and evaluate the effectiveness of various aspects of your business continuity plan. For example, you could run through communication plans and procedures during a power outage. If your recovery plan involves relocation, you could test the viability of reconfiguring equipment in an alternate space. After a crisis is over, have discussions with managers and employees about what worked well and identify areas for improvement. Helpful resources:
Managing Your Business Finances
At Amegy Bank, we can help you prepare for the unexpected. A digital approach to treasury management services can help ensure continuity and access to your financial accounts. You can count on us for the financial services you need to keep your business running during challenging times.