#NEWS

17/03/2020

Covid-19: The Business Continuity Plan (BCP) against pandemic threat

The current situation is a harsh reminder that events such as the ones we are experiencing at the moment can have serious consequences for businesses and potentially lead to a complete shutdown of activity. Companies have to be make provision to ensure they are resilient and able to survive.

 

Shareholders, insurers and customers are increasingly asking businesses to implement a  BCP (Business Continuity Plan).

 

Experience shows that companies which are prepared for disasters are the most robust ones. If a company is prepared for the worst case scenario, when one actually happens, the consequences are reduced.

 

BCP: main objectives

 

The main goal of a BCP is to safeguard the key elements of an organization and ensure the sustainability of its operations.

 

The BCP identifies not only the weaknesses of the Company but also defines the processes, resources and methods for a ‘distressed’ business to get up and running again and serve their customers.

 

– The BCP should address, as a minimum, the following 4 scenarios:

– Unavailability of a production site (fire, accesses unavailable, etc.)

– Lack of people (strike, pandemic, epidemic, etc.)

– Supply-chain disruption (lack of suppliers)

– IT disruption (cybercrime)

 

BCP: main advantages

 

– In addition to the survival of a business, BCP’s have a variety of functions:

– Limit financial losses;

– Maintain the confidence of customers and shareholders;

– Protect the brand image and reputation of the Company;

– Achieve a commercial advantage on competitors who do not have a BCP;

– Prepare and train employees on how to deal with a crisis

– Identify strengths and weaknesses of the organization.

 

What should a bcp include?

 

– A good BCP should include the following elements:

– Identification of the potential threats and analysis of the impact (identification of critical process and activities)

– Preparation of a crisis management plan (including crisis communication)

– Define the Disaster Recovery Plan (DRP) – including resources.

 

Verlingue’s Recommendations

– In order to implement an efficient BCP, we recommend following the hereafter advices:

– BCP implementation should be supported by the Company’s Management

– BCP should be prepared by trained and experienced people;

– Follow a well-known standard such as the ISO 22301 for the operational implementation;

– Involve the right people (who are the “risk owners”) in the BCP project;

– BCP is a evolving process and as such requires regular review and input, and continuous improvement

 

If you need to implement a BCP, please contact Verlingue’s Prevention Department: direction.prevention@verlingue.fr. We will be able to assist you and ensure your BCP plan is compliant with best practice.

 

Verlingue’s Prevention Department team is trained and certified to audit your BCP (Lead Auditor ISO22301).

 

Please feel free to contact your usual Verlingue contact for any question.