Business ContinuityGRC

Business continuity planning with GRC

What is business continuity?

Business Continuity is a set of procedures and measures that a company adopts to ensure that essential functions can continue during and after any incident or crisis, and that its operation is not affected.

In other words, it is the capacity of companies to respond to a risk situation that may arise internally or externally, affecting normal development of the activities carried out.

What about a Business Continuity plan?

When we talk about contingency and business continuity planning we are referring to how an organization prepares for incidents that may jeopardise it in the short, medium and long term. Possible situations range from local incidents (such as fires, earthquakes, floods, tsunamis, etc.) to regional, national or international incidents, such as pandemics, cyber-attacks, etc.

This means, a business continuity plan is a logistical plan for, after an unwanted disruption or disaster, to know how an organization should recover and restore its critical functions partially or fully after they have been interrupted within a predetermined time.

In the following link you can find information on how to elaborate a continuity plan.

A business continuity plan is a logistical plan for, after an unwanted disruption or disaster, to know how an organization should recover and restore its critical functions partially or fully.

How do we combine business continuity planning with a GRC system?

Before getting into the subject, for those who do not know what a GRC system is, it is the grouping of three critical areas in companies (Corporate Governance, Risk Analysis and Management, and Regulatory and Legal Compliance) into a single management model, through a management tool for these areas.

Planificación de la continuidad de negocio con GRC

For more information on this, see the following article, which explains in more detail what a GRC system is.

After understanding the above points, we can now talk about business continuity planning with a GRC system.

In the event of a disaster, having business continuity planning defined in GRC software and being able to apply it will have a positive impact on the company’s image and reputation, as well as mitigating different impacts and loss of critical information in the event of such incidents.

It also allows us to take advantage of information that already exists in the GRC (we refer mainly to processes, risks, controls and compliance). In addition, if any of the above parameters were updated in the GRC, the business continuity plan would also be updated to prevent it from becoming outdated.

In other words, having a business continuity planning integrated with a GRC system will allow us to have all company’s information centralized and interacting with each other.

Nevertheless, having business continuity planning defined in a GRC system is not enough; in addition, companies must have the ability to react immediately to a threat and continue to provide their services “as usual” in order to avoid interruption and normal development of their daily work. Therefore, in order to be able to practice this last point, it is interesting that this CRM tool has a testing and simulation programme, so that it can both learn and practice in the event of a disaster or crisis.

In summary, having the business continuity planning of our company implemented in a GRC system can be advantageous because, among other reasons that we have already described, it goes hand in hand with our management system and, in a simpler and faster way, we can keep it updated.

From GlobalSUITE Solutions we have been developing the GRC GlobalSUITE solution for more than 10 years.A software that helps you to optimise processes and reduce uncertainty of risk, security, continuity, audit and compliance to make your organization safer, more resilient and manage your compliance correctly.

Platform aims to optimise management of your system, leaving behind manual methods that reduce effectiveness of the team and dedicating time to what is really important

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