There are many risks associated with running a business, but few are as costly as downtime. Not only are you unable to generate revenue during this time, but you’re also spending resources to solve the problem. Fortunately, there are steps you can take to prevent trouble for your organization. These steps include disaster recovery and business continuity policies.
Disaster Recovery vs Business Continuity Policy
You’ve likely heard of the terms business continuity and disaster recovery thrown around here and there, but do you know what either of them really means? Both are crucial to keeping your business running after an emergency, and because of this similarity, they are often used interchangeably. However, there’s an important difference between these two policies. Understanding business continuity vs disaster recovery is necessary if you want a successful plan that prevents downtime.
What Is a Disaster Recovery Policy?
Disaster recovery is your company’s process for recovering and restoring data and functionality to your IT infrastructure without corruption after a disaster. This is your response plan to follow in an emergency, including what needs to be done to return to normal operations as quickly as possible. Despite its name, this plan doesn’t refer only to natural disasters. It involves any type of incident that could disrupt your business like a cyberattack or a failing hard drive.
What Is a Business Continuity Policy?
Business continuity, on the other hand, refers to an organization’s level of readiness to maintain critical functions and resume operations after a disaster. Establishing business continuity planning steps outlines your contingency plan for moving forward during and after an emergency. The primary goal of a business continuity plan is to keep your business operational no matter what.
The Biggest Differences Between Disaster Recovery and Business Continuity Policy
While the definitions of these terms provide a little clarity, it may not be clear enough for most people. The biggest difference between these two strategies is time and focus. Business continuity is about getting your business back up and running as quickly as possible. Disaster recovery is, instead, focused on the successful recovery and restoration of data and business functions. Here are a few other ways these plans differ:
- Business continuity is focused on keeping everything operational, while disaster recovery focuses on restoring data access and technology.
- A disaster recovery plan can include employee safety measures like fire drills. Business continuity is solely about the company.
- Disaster recovery minimizes abnormal or inefficient system functions. Business continuity minimizes the amount of downtime experienced during and after an event.
- Business continuity ensures that communication stays active at all times. Disaster recovery helps the business remain fully functional amid a crisis.
- Disaster recovery safeguards a company from the impacts of unforeseen events. A business continuity plan is an all-encompassing strategy that may include a disaster recovery plan.
The Importance of a Disaster Recovery Plan and Business Continuity
Imagine what would happen to your organization in the event of a cyberattack. The first thing that may come to mind is the financial impact. In fact, global ransomware damage costs are expected to climb up to $42 billion by 2024. But the damage isn’t limited to your finances—it could also result in permanent essential data loss or a hit to your reputation.
Together, disaster recovery and business continuity act as a preventive plan against something that could ruin your business. With these policies, you are actively preparing your organization for whatever comes its way. Advanced planning like this is the best way to avoid the consequences that come with unexpected events.
How To Implement a Disaster Recovery Plan and Business Continuity Policy
Now that you know the difference between business continuity and disaster recovery and why both are important, how do you implement these strategies? The easiest way to create the disaster recovery and business continuity policies your business needs is to partner with a managed service provider. They have the necessary expertise and can customize plans to fit the unique needs of your organization.
Keep Your Business Running at All Times
Don’t let a disaster get in the way of your business—let BL King help you keep your company up and running. Our expert consultants will take the time to understand your business to develop a strategy that makes sense for your operations.
Contact us today to learn more.