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In an always-on, 24x7 world, global companies can gain a competitive advantage – or lose market share – depending on how reliably IT resources serve core business needs.Some organizations use external business continuity management consulting services to help identify and address resiliency synchronization between business processes, applications and IT infrastructure.
Research studies have shown that without proper planning, businesses that somehow recovered from an immediate disaster event frequently didn’t survive in the medium term. It’s important to have a business continuity plan in place to identify and address resiliency synchronization between business processes, applications and IT infrastructure.
According to IDC, on average, an infrastructure failure can cost USD $100,000 an hour and a critical application failure can cost USD $500,000 to USD $1 million per hour.
Plans can also identify plan administrators and include contact information for emergency responders, key personnel and backup site providers.
Plans may provide detailed strategies on how business operations can be maintained for both short-term and long-term outages.
There’s also the issue of exponentially increasing data volumes.
Applications such as decision support, data warehousing, data mining and customer resource management can require petabyte-size investments in online storage.
Companies realized that without a thorough business continuity plan they might lose customers and their competitive advantage.
At the same time, business continuity planning was becoming more complex because it had to consider application architectures such as distributed applications, distributed processing, distributed data and hybrid computing environments.
A key component of a business continuity plan (BCP) is a disaster recovery plan that contains strategies for handling IT disruptions to networks, servers, personal computers and mobile devices.
The plan should cover how to reestablish office productivity and enterprise software so that key business needs can be met.