Business Continuity Management (BCM): definition | Myra

What are the benefits of BCM?

In times of Industry 4.0, a fully networked world, and the omnipresent influence of the World Wide Web, we are used to having access to the many benefits of these systems at all times, both privately and for business. Many people are unaware that in crisis situations, such as the recent corona pandemic, IT processes can fail, making a company vulnerable. But when it does happen and such a crisis occurs, the aggravation and at times despair is immense. This makes it all the more important for companies to respond to such difficult situations in the best possible way—or better still, to ward them off beforehand. Business Continuity Management, if properly established and implemented, is considered a valuable tool to optimally prepare against unavoidable and unforeseen threats. Failures due to disruptions and the associated loss of revenue or sales can be minimized in many cases, and interruptions of especially critical and essential business processes (such as the maintenance of supply or production chains) can be noticeably reduced. The more established the BCM system is, the more successful its implementation will be in an emergency.

In addition, more and more companies and service providers are aware of the importance of BCM and see it as a prerequisite for cooperation in certain areas. Companies that have implemented Business Continuity Management use just this fact to strengthen their negotiating position vis-à-vis service providers from the financial sector, for example, or to sustainably increase the trust of prospective business partners and customers in their business.