Why is it important to have a contingency plan?

Posted by SilverStorm on Oct 27, 2020 8:30:00 AM


The pandemic has made major structural risks have an intense impact on organisations, forcing them to move up the technology adoption curve very quickly. In the space of a few days we have seen how many companies have implemented remote-working models, trained their employees in solutions they were not used to working with and promoted a different digital working model. The more agile ones have won the race, while those that still had too many manual procedures have invested more time and money in tackling this challenge.

Along the way, the needs for Digital Transformation have been revealed by many companies, which have found that their infrastructure could not cope with the new situation due to the increase in traffic. They have also realised that their environments did not offer the security, flexibility and scalability that the moment demanded.

After fixing the situation or, in the worst case containing it, it's time to validate the learning, to consider if we have made the right decisions to anticipate a reality like the one we are living. If your answer is yes, you can continue to put out fires when they appear, but if you want to prevent the tinder from being lit, it's time to review your contingency plan to maximize your ability to react to any unforeseen health, economic or natural event.

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The main thing is that your activity does not stop and that your employees can continue with their day-to-day work. For this reason, it is time to bring solidity to the digitalisation and automation of processes, continuity, resilience of operations and speed of response. Identify your strengths and weaknesses, in order to make channels, processes and work models more flexible and adaptable. In addition, surround yourself with visibility and agility, thanks to which your work will be more efficient. Bear in mind that becoming aware of things and anticipating them will help you not only adapt to the new normality but also move forward in a scenario where uncertainty exists. It cannot be controlled, but it can be cushioned with talent, experience and technology.

The pandemic has become a catalyst and accelerator of change. Remote working must respond to the proper use of IT and information, mitigate risks, try to best preserve business continuity, minimize exposure to attacks, problems of loss of confidential data and information leaks, and increase the productivity of your employees, as well as business growth.

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If you do not have a structure on which to base your steps, hackers can interrupt your activity, send phishing, impersonate you, and violate the confidentiality and privacy of your information. It's time to put together your contingency plan. Surround yourself with tools that manage the whole process from the identification of risks to the simulations of contingency plans, implementation and coordination between departments.

In this regard, Forbes warns that 77% of companies worldwide lack cyber contingency plans which increase their levels of vulnerability to be attacked by hackers. For this reason, it is necessary to anticipate. In fact, according to a study by a US consultancy firm, companies that implement innovative and disruptive solutions will be able to respond to customers and employees 50% faster than those that do not.

Topics: contingency, important, plan, have

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