10 Reasons Why A Business Continuity Plan Is A Must

All of us rightly or wrongly consider that once we have a backup for the data on our computers that we are fully covered in the event of a disaster. However, as some of you will have already learned the hard way, that this is rarely the case.   A disaster can be defined as “any event or series of events that prevents your business from accessing the data and systems it needs to operate” and this includes power failures, cyberattacks, employee sabotage and hardware failure.

Every company faces the risk of IT interruptions that can grind business to a halt and if this stoppage is serious enough it can risk bringing the business to a permanent standstill or failure.   

We have listed below ten reason as to why your business should consider investing the time and resources in a business continuity plan, and in a subsequent article we will detail what the contents of a Disaster Recovery Plan should contain;

  1. The overall consideration here is that a business can’t afford downtime
  2. Customers expect always to be able to access websites, order portals etc. Downtime therefore means loss of business from customers both immediately and in the long term.
  3. Downtime can also cause reputational damage as this can be interpreted as shoddy and inadequate systems
  4. The weather (Beast from the East) can play havoc with our systems and should be protected.
  5. Sometimes hardware just fails, even the best equipment can just die for no apparent reason.
  6. If subject to a cyber-attack, it could also impact your client business.
  7. In this new GDPR world any data breaches can prove very costly to the business and should be protected to comply with all the relevant legislation.
  8. A staggering statistic from the US in relation to SME’s 43% of companies were immediately put out of business by a “major loss” of computer records, and another 51% permanently closed their doors within two years — leaving a mere six percent “survival” rate. 
  9. Ultimately it will save you money in the long term, once the initial investment is over it will begin paying dividend for the company.
  10. All systems even the most secure, interact with humans, and humans can make mistakes. 

You can see from the above that it is imperative that all businesses invest the necessary resources in a Business Continuity, Disaster Recovery Plan and we shall be looking at what it should contain in future articles.

What Questions Do You Have?

We are happy to help. Please post your comment below or call Des McCann, Partner at Cooney Carey, on 01 677 9000. Alternatively, send him an email: dmccann@cooneycarey.ie

To keep in touch, connect with us on LinkedIn.

If this article helped you, please share it with other businesses.

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    Posted on May 21, 2019 by Cooney Carey

    Friday Funnies: Warning!

    About Cooney Carey

    We’re a firm of business advisors and chartered accountants. We earn and hold the trust of our clients by proving wisdom and energy.

    If you need help with tax or finance, we have the right people for the job.

    What Challenges Do You Face?

    We are happy to help. Please give our friendly team a call on 01 677 9000. Alternatively, send us an email: info@cooneycarey.ie

    To keep in touch, connect with us on LinkedIn.

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      Posted on May 17, 2019 by Cooney Carey

      Health And Safety In The Workplace

      The rules and regulations around health and safety in the workplace can be complicated, but they are there for a good reason, too, as we found out when we recently attended a very important CPD course, you might find the following of interest.

      If one of your employees, or a member of the public get hurt on your premises and it turns out that you have not fully complied with your Health and Safety responsibilities, the consequences can be very serious.

      Amongst other things employers should consider, the following are the key points in relation to Health and Safety Legislation and good practice to avoid prosecution by enforcing authorities

      1:           The preparation of a General Health and Safety Policy Document:

      • Arrange for an inspection to be carried out to identify areas of non-compliance.
      • Put a framework in place to establish and publicise the company Health and Safety Policy and Procedures for your employees.
      • Identify any special arrangements and/or emergency procedures relation to your workplace.
      • Establish a means for risk assessments to be carried out, recorded and reviewed.
      • Establish a workplace inspection procedure and monitoring audit trail, maintenance of risk registers.
      • Liaise with Insurance Brokers to ensure adequate insurances are in place.

      2:           The preparation of a Health and Safety Policy and Procedures Handbook:

      • Health and Safety General Policy.
      • Organisation structure for the implementation of the Policy.
      • Management Responsibilities and Individual Responsibilities.
      • Keeping Record sheets and Action Logs.
      • Ensuring specific arrangements are catered for.

      3:           Maintenance of Safety Records:

      • Accidents, incidents or dangerous occurrences.
      • Report Forms.
      • Implementation checklists.
      • Accident and investigation reports.
      • Fire procedures reviews.

      4:           Employee Safety:

      • Provision of training on a periodic basis and retain evidence of same – Informed employees are safer employees.
      • Ensuring employees know their responsibilities too.
      • Fire/emergency procedures.
      • First Aid.

      For more information please see www.hsa.ie

      What Questions Do You Have?

      We are happy to help. Please contact our team on 01-6779000. Alternatively, send us an email: info@cooneycarey.ie

      To keep in touch, connect with our friendly team on LinkedIn.

      If this article helped you, please share it with other businesses.

      Image by Yerson Retamal from Pixabay

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        Posted on May 13, 2019 by Mary Flanagan

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