The Unexpected Business Benefits of ISO 22301 Business Continuity

1 Oct, 2020

An ISO 22301 Business Continuity Management System protects your business from disruption but what else can it do? You may be surprised to learn these five unexpected benefits of ISO 22301…

The most obvious benefit of an ISO 22301 Business Continuity Management System is that it decreases the amount of ‘down time’ associated with disruptions. This is because ISO 22301 covers the requirements of a robust Business Continuity Management System, minimising your risks and ensuring control is maintained at all times.  But what other benefits can it bring your business?

1. It safeguards your assets, turnover and profits
   If disaster strikes, an effective ISO 22301 management system will minimise the impact on your income, assets and reduce the risk of further losses.

   This is because ISO 22301 requires you to conduct a business impact analysis and identify the affects an event would have on your business activities.  By conducting this analysis and putting documented procedures in place, you are able to return to normal business activities as soon as possible therefore minimising the impact on profits.

2. It can reduce your insurance premiums
   Insurance companies love ISO certification! Why? Because it’s proof you are assessing your risks and taking measures to reduce them.

   Implementing ISO 22301 will ensure you’re properly assessing your risks on a regular basis and putting plans in to place should the worse happen. This allows you to adapt to any situation which poses a risk to your operations and reduces the amount of time it takes to get back to ‘business as usual’.

   With a hardening insurance market, it’s never been a better time to get ISO certification.

3. It improves reputation and gives you a competitor advantage
   An ISO 22301 certification builds confidence and trust in your business, showing stakeholders that you will respond to incidents.

   As well as providing you with a competitor advantage, it will also strengthen your stakeholder relationships and increase customer retention.

4. It enhances decision making
   Having a better understanding of your threats aids quicker and better decision making.

   A requirement of ISO 22301 is that a business continuity plan is established and tested on a periodic basis.  By doing this, you will have contingency plans in place to manage that event should it occur and from testing, you will know the effectiveness of these plans.  The data that you collect and analyse as part of understanding threats allows you to make data driven decisions, which is imperative for business continuity.

5. It ensures you meet legal and regulatory requirements
   An ISO 22301 Management System ensures you are taking the necessary steps to comply with legal and regulatory requirements, therefore minimising the risk of legal non-conformities and associated fines.

If you’re interested in finding out more about ISO 22301 Business Continuity, speak to a member of our team on 0330 058 5551 or get a quote here.