From minor incidents to major disasters, there is no doubt this event will have a financial impact on your business. To evaluate the cost to your business you need to work out the following:

  • Building damage
  • Equipment damage
  • Stock/material loss/damage
  • Staff downtime
  • Loss of production time
  • Loss of sales
  • Temporary relocation costs

The real impact to the business will depend on what it does and how. For example, a company with a higher than average reliance on power; such as technology, production, and refrigeration, will suffer more than a business that provides an off site service at its client premises.

These high power demand businesses will be affected by something as small as a dip or glitch in power quality, and may need a protection process in addition to a disaster recovery plan.

Your business should have a disaster recovery plan, but is it tested? Testing can identify any issues in the plan, but it can also help you identify the potential financial impact a disaster will have on the business, and how to reduce the risk.

For further guidance on your business continuity, have a read of one of our current Whitepapers