Business continuity software provides a centralized digital platform for maintaining business continuity plans, keeping them updated based on the organization’s needs. Business continuity, or business continuity management, comprehensively identifies scenarios that impact organizations negatively and cost them time and money. Business continuity software accounts for financial, operational, and physical risks and helps organizations decrease company financial loss by making intensive preparations for disasters or setbacks.
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Internal and external change of any kind impacts business operations. From natural disasters or executive leadership turnover to supply chain interruptions and skyrocketing demand, business continuity planning seeks to identify risks, then prepare every area of the organization to respond to those risks. Key areas of consideration include:
For example, financial risks include the sales pipeline and deals, the possibility of theft, and how many sales representatives the company has at a given time. A natural disaster could damage or completely destroy a company’s data center. Business continuity planning takes possibilities like these into account and determines what a company will do to remain operational.
To mitigate risk and plan for change, business continuity platforms commonly offer:
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