5 Key Takeaways: Business continuity’s return on investment Patrick Alcantara DBCI Senior Research Associate Business Continuity Institute (BCI) Andrew Scott CBCI Senior Communications Manager Business Continuity Institute (BCI)
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5 Key Takeaways: Business continuity’s return on investment
Patrick Alcantara DBCISenior Research Associate
Business Continuity Institute (BCI)
Andrew Scott CBCISenior Communications ManagerBusiness Continuity Institute (BCI)
• BCAW2014 themed ‘Counting the cost’.
• This explored the costs of not having an effective business continuity programme in place.
• The average cost of data breach and cyber attacks stands at an average of US$11.6 million annually.
• The cost of an IT/telecoms outage can be up to US$14.25 million over 24 months.
• Insurance payouts for weather-related damage in the United States alone cost US$12.8 billion in 2013.
• Only 24% of organizations will experience a budget increase.
• All but 4 of the 29 threats showed an increasing level of concern.
• BCAW2016 is about highlighting the positive impact of business continuity
Identify challenges to articulating business continuity’s return on
investment
Explore how business continuity provides organizations a return on
investment
Recommend strategies to highlight that return on investment to one’s
organization
Today’s agenda
1
It is challenging to qualify and quantify BC’s return on investment but seeing our function as a ‘business enabler’ can offer clues on where to start.
2
Business continuity is an indicator of a high level of preparedness, good crisis management and reliability which may help organizations reduce insurance premiums.
3
Business continuity helps organizations become more efficient, agile and adaptable to changing market conditions.
4
Business continuity demonstrates organizational reliability which may prove handy in negotiating contracts and responding to tenders.
5
Framing a positive case for BC may involve using metrics such as possible insurance savings, reduction of more expensive workarounds, value of new contracts and tenders which require evidence of reliability/BC planning, etc.
0118 [email protected]://uk.linkedin.com/in/
patrickalcantara/en
Patrick Alcantara DBCI
0118 [email protected]://uk.linkedin.com/in/
andrewcolinscott @andrewthescot
Andrew Scott CBCI
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