According to Google Trends, searches for "business continuity planning" skyrocketed on March 12, around the same time the US declared a national emergency in response to the coronavirus outbreak. The pandemic forced this oft-overlooked back-office function into the spotlight, bringing along with it economic turmoil.
For the first time in a long time, we must shift from managing localized risks within third-party supply chains, infosec, and operations against a landscape of economic growth to managing those issues under much less certain circumstances. If you haven't already, now is the time to build your contingency plan.
Business continuity plans (BCP) — and solid governance, risk, and compliance (GRC) policies, in general — can help businesses prepare for and navigate many disruptive events, including natural disasters, cybersecurity breaches, terrorist attacks, fraud, and embezzlement.
We believe in the benefits of implementing technology to streamline policies, automate processes, and create repeatable workflows so organizations can quantify risk into digestible dashboards to gain a singular source of truth. [Editor's note: The author's company is one of several providers of GRC technology.] Most businesses, we've found, have the same questions about implementing tech to strengthen their GRC programs. So we asked our customer success team, who all come from GRC consulting backgrounds, what they're typically asked.
Here's what they told us.
What should I be thinking about before implementing a GRC tool? Before spending money on a tool intended to solve an ongoing problem, most businesses want to know what they need to have ..
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