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How can Business Resilience provide your competitive edge

Move to Active Business Resilience in 5 steps

“The world is experiencing a level of disruption and business risk not seen in generations. Some companies freeze and fail, while others innovate, advance and even thrive. The difference is resilience”

(Mckinsey)

Business Resilience providing a competitive edge may sound like a bold statement, but in leading organisations, resilience is moving from being an operational consideration to a strategic advantage. Here we explore why this is important and how you can make that shift to active business resilience for the Digital- Era in 5 steps.

Business Continuity Planning (BCP) is a foundation for all modern businesses and organisations yet in many ways is an afterthought revisted only when an incident occurs. To us, this is known as an Unplanned or Reactive Business Continuity and taking this approach can expose organisations to higher levels of risk, and cost millions in terms financial losses, endanger people’s lives and negatively impact customer relationships for years to come.

A break in continuity for a small company can cost £10,000 / hour at a minimum and in many cases for large enterprises runs into the £1millions

(Datto)

It is even more astonishing, that given the recent humanitarian disasters such as the pandemic to war in Ukraine, which highlight the unpredictability and interconnectedness of businesses, that over 51% of all businesses have a sub-par or ineffective business continuity plan (Economic Times).

Whereas organisations that can provide best in class solutions for continuity and embed these practices across their culture can thrive in a world where change and disruption are the new norm.

But how do you make the shift?
Firstly, it means that a new type of application is required, this must create a real-time response to proactively plan for, manage and track incidents as they occur. Graphical screens and dashboards can showcase progress and status of each plan across your entire ecosystem including providing a live GPS map to visualise this across your entire network.

Once this foundation is in place, resilience can move from being a behind the scenes tool to providing strategic value — allowing you to differentiate service through greater reliability and move ahead of your competition.

Next, is the employee and team engagement that is needed with any digital-ready solution to embed the change in behaviours needed. A fanatical focus on the user experience is necessary — to remove burden, ensure ease of use and provide added value over traditional legacy approaches.

“Shifting to an Active Business Continuity solution has changed the game for us. Our Strategic customers and Partners are actively exploring the same.”

(Wincanton — Group Head of Risk and Business Continuity).

What steps do you need to take? We see organisations that have made the transition to Active Business Resilience follow 5 simple steps:

1. Map Stakeholder Value — map out your end-to-end goals and value for all of your stakeholders including your customers, your partners, your suppliers, your employees, and leadership.

2. Align and simplify experience — create the journey to drive the change needed.

3. Lay foundations for consistency and flexibility — deploy best in class solution which provides a tailored user experience, balancing strategic priorities and local capabilities.

4. Balance push and pull — focus on employee engagement to build advocates ensuring positive momentum and a pull from across the organization.

5. Adapt and innovate continuously.

At Aspenify, we provide a proven approach, combined with innovative digital-ready software tools, to guide you through these 5 steps, enabling you to shift to Active Business Resilience — to meet the demands and expectations of your customers, partners, and employees.

To find out more contact us at: sales@aspenify.com

Business Continuity Planning – Lets tear up the rulebook!

Business Continuity Planning (BCP) is rarely seen as exciting — more commonly it’s perceived as a cost and a burden to the business and its users, despite the obvious need for it given the continued occurrence of unprecedented events (Brexit, Covid & war in Ukraine). The impact is that BCP is rarely invested in and for those that need BCPs to be effective, it is rare to have the plans at their fingertips when an incident occurs.

But the perception is changing.

McKinsey state: “The world is experiencing a level of disruption and business risk not seen in generations. Some companies freeze and fail, while others innovate, advance, and even thrive. The difference is resilience.”

And Resilience is the key to a successful BCP.

Our clients are tearing up the rule book and making BCP:

  • visual and engaging for the users and executives
  • a competitive advantage for companies looking to thrive

BCP should share both live and living documents — often they are not. Working with a leading logistics firm, we found that they thought they had BCP covered. Yet, on closer inspection many plans were out of date, and contained people that had left the site or business.

An example they shared nicely summed up the situation:
This organisation had 20 plans across 20 sites and believed that they had BCP covered. What they found upon discovery was that they had 20 different formats, and few were accurate. 20 incomplete plans and very little standardisation in sight.

All we could say at first was wow, how had they thought it had been covered?
Then we rolled up our sleeves to dive back into our discovery sessions together, assuring them that this is a common situation, and they are not alone.

Working with Aspenify Digital apps, the impact had on our customers has been huge. That logistics company now has a common platform whereby all BCP plans are stored, reviewed, and managed. The benefit we bring them is that the Executive Board, Business Unit Director, Site Manager, and users all have a simple dashboard view with red, amber, and green status. Their CEO has the option to see in real-time, or in BCP plans. This is across all sites and third-party locations in one view that accelerates them towards holding 100% completed BCP for each location.

As the Software is so simple and efficient it is so much easier for our users to engage in the BCP process. Furthermore, we have saved hundreds of operational hours to maintain a live system by streamlining our processes.

So how does this translate into a competitive advantage? Well, there are a couple of reasons that spring to mind:

1: Cost and Operational Savings

Insurance Premiums have been significantly reduced since demonstrating enhanced visualisation and reporting of our governance.

Nearly 60% less time is spent on building and managing BCP which is a huge win for efficiency.

2: Greater ability to deliver to our clients

With enhanced BCP plans our customers are winning more business and ensuring continuity of existing contracts.

So, by changing your mindset and perception of BCP it’s possible to set-up to thrive.

Aspenify offers expert advice and solutions to help your business grow. Our unique approach in platform deployment and application development helps our customers accelerate their successes.