Business Continuity Risk - Coronavirus
Preparing your Business against the Coronavirus
Questions your business should be asking in the wake of the coronavirus:
- What is the threat to my business and my employees?
- How long can my business endure downtime?
- Can my business survive the 14-day isolation period (of which remote working would be required)?
- What can I do now to limit potential downtime?
Evaluate your Business risk
If your company has not got controls in place in order to limit downtime and mitigate potential financial loss, consider the following as preparation in the event of an emergency closure.
A Business Impact Analysis (BIA) is one of the first steps a company should consider. This is a systematic process to determine and evaluate the potential effects of an interruption to critical business operations as a result of a disaster, accident or emergency.
Businesses should undergo an assessment to identify critical functions and supporting assets that could be at risk from unscheduled downtime. Once a company has identified its business-critical assets, the next step is to ensure their availability and continued ability to run.
Having an Emergency Plan
In the event of your organisation having to close due to an emergency, there should be procedures and guidelines available to all staff to let them know what to do. Documentation such as an Incident Response Plan and a Business Continuity Plan should be available for all staff in the event of the organisation closing.
Your employees should know where these documents are located whether that be on a local file server or hosted in the cloud.
The first thing to consider is, does every employee have access to a laptop or home PC? If so, does each computer comply with the company’s network access policy? Does the device have a VPN set up in order to gain access to business applications and data remotely? And finally, how are you dealing with the security issues that arise with remote access ?
It is also highly advisable to consider moving critical files to cloud-based storage, such as SharePoint. This will allow access to these files from anywhere, and on any device without the need for complex VPNs.