Business Continuity is About Managing Risk

While risk is generally considered in a negative light, that is, as having an adverse impact, the Standard contemplates not only events that may lead to loss or harm, but also those that may lead to gain or advantage.

A business continuity event (described as an ,outage’ in this Guide) is an adverse risk event. The primary objective of managing such events is to prevent them from occurring in the first place, where it is both within the control of the organization and where it is cost-effective to do so. Treatments designed to prevent risk events occurring are commonly referred to as preventative controls. However, even the best-designed controls can breakdown in operation and an outage may occur.

In addition, certain risk events may be outside the control of the organization (referred to as external risks). This is particularly the case in relation to natural (e.g.. fire, flood); political (e.g.. change of government policy, changes to legislation), and economic (eg. financial market collapses, economic downturn) events.

The primary objective, when any risk event (including an outage) becomes a reality, is to have in place treatments that will mitigate the business impact of the event. In the case of an outage, the preferred outcome is to maintain the continuity of service.

A comprehensive approach to risk management will therefore consider risk treatments both proactively-by designing and implementing controls to prevent risk events occurring-and reactively-by mitigating the consequences of such events, should they actually occur. This philosophy can be best summed up as plan for the best but be prepared for the worst. In practice, this requires risk managers to undertake an analysis of risks and risk treatments from the top down-starting with possible risk events and designing controls-and from the bottom up-assuming a risk event has occurred and preparing appropriate contingency plans. These approaches are complementary and should be undertaken in parallel, using the process described in the Risk Management Standard.


5 More Reasons VoIP Is a Total Game-Changer

For businesses considering voice over Internet protocol (VoIP) phone services, cost-saving benefits can be a major consideration. Telzio reports that the average business that switches to VoIP saves between 50 and 75 percent on phone bills, though specific savings can vary significantly. Saying goodbye to complex monthly phone bills and itemized long-distance calls can be appealing to organizations of any size.
However, the benefits of VoIP definitely aren’t limited to simpler billing and cost savings. Organizations that switch to VoIP can appreciate a host of other benefits, including improved automation, better uptime, and greatly reduced needs for costly on-site maintenance visits. Join us as we review five more reasons VoIP can have a positive impact on your business telephony.
1. Automation
For organizations operating on plain old telephones, a lack of automation can be a costly source of frustration. Adequately routing calls can require a human switchboard operator, and a lack of mobile forwarding can damage an organization’s ability to provide seamless customer service 24/7.
Automated call distribution and forwarding to employee mobile devices is a key feature of most VoIP systems, which can provide cost savings and the ability for the busiest employees to stay continuously connected. As TechAdvisory highlights, some VoIP systems can even translate voice mails to emails. Intelligent voice recognition is a readily available add-on feature from many VoIP vendors, which can provide ease-of-use to customers and end users for simple call routing.
2. No More Reliance on Phone Grids
Organizations using VoIP are no longer reliant on public switched telephone networks (PSTN). There are some benefits associated with public telephone networks, including what tech editor Kara Deyermenjian lists as “built-in security… emergency location services.” However, switching away from your business’s reliance on PSTN can provide new freedom. Instead of having to rely on dedicated lines or public telephone grids, you’re able to better control and scale your growth to fit your needs, without costly hardware and installation requirements.
3. Scalability
For startups and organizations with aggressive growth plans, VoIP simply makes sense. Many VoIP providers allow their customers the ability to easily expand the number of phone lines without any downtime to the company’s system. Provided your organization’s Internet bandwidth is sufficient to support additional users, you’re able to scale up (or down) as needed, with the simple investment in additional handsets.
4. Remote Management
Many VoIP providers and solutions offer the benefit of remote management, from a centralized Web portal. Whether you opt to host your own VoIP or select a provider that offers a hosted solution, this remote management can facilitate incredible efficiency. If you are using hosted VoIP, you’ll no longer need expensive “truck rolls” or on-site visits every time a minor tweak or small fix is needed.
5. Rich Media Services
Business communications are no longer limited to phone calls. To communicate internally and externally, modern employees may use chat software, emails, teleconferencing software, text messages, and a host of other mediums. VoIP can accommodate rich media services in addition to phone calls, allowing your customers and employees to communicate in the ways that are most convenient for them.
The benefits of VoIP telephony aren’t limited to cost savings. For companies with strong growth plans or a need for remote management, or for organizations that use rich media for customer communications, VoIP can be a convenient and centralized way to meet business requirements.