Mastering Business Continuity Management

Enhancing Operational Resilience: Future Ready IT for a new era of risk management.

14.06.2024, Text Tanja Dujic 4 Min.

Swiss organizations are increasingly focusing on Operational Resilience to enhance their business continuity strategies.

And they should: Implementing a comprehensive Business Continuity Management (BCM) solution requires time and resources. The best time to start: Now.

From natural disasters and cyber-attacks to supply chain disruptions and pandemics, the risks for organizations in today's ever-changing business landscape are numerous and constantly evolving. With the rise of Gen AI, new possibilities are presented alongside efficiency wins that impact a broader and wider audience. Naturally, the extent and amount of harm and damage that can be caused with leveraging AI has also increased, especially in the field of cyber security.

This is where the importance of Business Continuity Management (BCM) comes into play, as it provides a comprehensive framework for building Operational Resilience and ensuring sustained success.

Find out and take the Business Continuity Readiness Test.

Operational Resilience is a broad concept that focuses on the ability to anticipate, respond, recover and adapt to disruptions that could impact essential services or the wider market. This approach encourages organisations to look beyond individual processes and consider the entire ecosystem of their operations, highlighting the interconnectedness of different functions and the external resources on which they depend, such as power and key service providers.

BCM is about fostering a culture of preparedness and resilience within an organisation. It requires a comprehensive understanding of the organisation's critical functions, dependencies and vulnerabilities, as well as the development of robust recovery strategies tailored to specific scenarios.

Moreover, BCM extends beyond mere incident response and encompasses the entire lifecycle of risk management.

It involves continuous monitoring, testing, and updating of contingency plans to adapt to changing circumstances and emerging threats. It is safe to say, BCM is one of the most important processes that organizations must build and yet, in the last couple of years it became one of the most overlooked ones.

88% of Swiss companies consider regulated and secure IT operations to be a challenge.
Hybrid Cloud Study

PAC CxO Survey 2023

Lessons from consequences of inaction:

Ransomware Attacks

In 2021, several companies worldwide faced significant disruptions due to ransomware attacks, which led to operational shutdowns, financial losses, and damaged reputations. Robust backup and recovery solutions are needed in order to protect your critical data and proactive monitoring and advanced threat prevention for your IT infrastructure are essential.

Power Outages

In 2023 Europe experienced several significant power outages that impacted various sectors and businesses. The implementation of backup power solutions and the development of contingency plans for power outages help to prevent significant operational disruptions.

Extreme Weather Events

In 2021, severe winter storms in Texas caused widespread power outages that affected many businesses. They suffered from prolonged downtime and financial losses. This example highlights the need for a BCM system that addresses weather-related risks and ensures rapid recovery, illustrating the need for operational resilience.

Challenges and opportunities in implementing Operational Resilience

1. Holistic approach

It is crucial for companies to assess risks and resilience capabilities across their entire operations. This ensures that critical functions are protected and can withstand not only technological failures, but also severe geopolitical and economic challenges. On an operational level, this means that companies should focus on ensuring end-to-end resilience across their entire value chain, not just isolated parts of their operations.

2. Defining risk exposure

Organisations must define specific 'risk exposure levels for disruption' for each critical function, detailing the level of disruption they can tolerate. The challenge here is that guidelines and benchmarks are scarce. These levels of potential impact are highly individual and therefore vary considerably, depending on the business model, branch and state.

3. Integrating resilience into business as usual

It is of the utmost importance to embed resilient practices into daily operations and organisational culture. This integration helps to quickly adapt to and recover from disruptions without significant impact.

Swisscom's approach: A case study in Operational Resilience

Every network element is connected to an uninterrupted power supply.

The largest cyber security team in Switzerland.

Own data centers that can operate for several weeks without power.

Enable, Drive and Protect your business: Preparing for a resilient future

The shift towards comprehensive Operational Resilience is not only a regulatory requirement, but also a strategic advantage in today's volatile business environment. Swisscom is here to support Swiss companies in navigating the complexities of the modern business landscape. As companies continue to adapt and integrate these practices, the focus on resilience will undoubtedly lead to stronger, more sustainable businesses that are prepared to meet the challenges of tomorrow.

By regularly reviewing and improving BCM strategies, organisations can stay ahead of potential disruptions and maintain a competitive edge in their respective industries. Effective Business Continuity Management not only safeguards an organisation's operations but also protects its reputation, customer relationships, and long-term profitability. In an increasingly interconnected and volatile business environment, the ability to weather disruptions and maintain Operational Resilience is a critical differentiator, separating successful organisations from those that struggle to recover from setbacks.