44% of the Companies in India have faced some form of disaster since 2006. Companies that promise 24*7 services, are heavily dependent on IT and data management. Let us look at a survey to get more information
In April 2007, Market Pulse, on behalf of Business continuity Management Institute, conducted a Survey. This survey gives us an insight into BCM practices in fifty-four organizations, having the most progressive BCM programs in India. Let us look at some of the findings.
More than half the respondents reported at least one significant business disruption in the last year.
Over half the respondents felt that their organizations were not sufficiently prepared to face business disruptions.
Following are few more stats:
• As many as 17% of the respondents report that their organizations do not have Business Continuity Plans. Most of these expect plans to be formalized within a year.
• The maximum loss reported due to a single disruption was Rs 100 crores (USD 24.4 million) and the average reported loss due to disruptions was Rs 7.7 crores (USD 1.89 million).
• Most organizations do not feel secure about their level of BCM preparedness. More than 80% have not planned for all four of these situations - loss of facility, prolonged power or communication breakdown, disruptions from service providers/suppliers and mass absenteeism due to reasons affecting the masses (like strikes, bandhs, epidemic situations etc).
Conclusion: It makes common sense to implement business continuity management solutions.
In April 2007, Market Pulse, on behalf of Business continuity Management Institute, conducted a Survey. This survey gives us an insight into BCM practices in fifty-four organizations, having the most progressive BCM programs in India. Let us look at some of the findings.
More than half the respondents reported at least one significant business disruption in the last year.
Over half the respondents felt that their organizations were not sufficiently prepared to face business disruptions.
Following are few more stats:
• As many as 17% of the respondents report that their organizations do not have Business Continuity Plans. Most of these expect plans to be formalized within a year.
• The maximum loss reported due to a single disruption was Rs 100 crores (USD 24.4 million) and the average reported loss due to disruptions was Rs 7.7 crores (USD 1.89 million).
• Most organizations do not feel secure about their level of BCM preparedness. More than 80% have not planned for all four of these situations - loss of facility, prolonged power or communication breakdown, disruptions from service providers/suppliers and mass absenteeism due to reasons affecting the masses (like strikes, bandhs, epidemic situations etc).
Conclusion: It makes common sense to implement business continuity management solutions.
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