Transforming Banks for a Digital Future: The Winners, The Losers, and the Strategies to Beat the Odds
While the great majority of companies have plans for disaster recovery in place, 67 percent of those without a DR plan say they intend to create one. Of the other 33 percent, two thirds have annual revenues of less than $20 million.
When asked to consider their business continuation planning efforts prior to the recent terrorist attacks, 73 percent of respondents said they were very or somewhat prepared. Yet fewer than 30 percent described themselves as being "very prepared." Is "somewhat prepared" good enough to make sure the critical parts of your business will be able to continue to function in the event of a catastrophe? You will have to take the time to determine, in partnership with your executive committee, exactly what it means for your firm to be "very prepared."
Some 22 percent of those answering said that they either had made or planned to make significant changes in their disaster recovery plans as a result of the events of Sept. 11. But most76 percentsaid they had made or planned to make only minor changes or none at all.
Staff training is clearly the greatest missing link in disaster recovery preparations. Just over half of those responding said they will increase their focus on training. The next most important issue was backing up corporate data more frequently, mentioned by 28 percent of respondents.
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