The Unexpected Business Benefits of ISO 22301 Business Continuity

13 Mar, 2024

The COVID-19 pandemic emphasised the unpredictability of global business environments, making the relevance of ISO 22301 more apparent than ever.  

An ISO 22301 Business Continuity Management System protects your business from disruption, offering far more than a recovery plan. The most obvious benefit of an ISO 22301 Business Continuity Management System is that it decreases the amount of ‘downtime’ 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. But what other benefits can it bring your business?

It safeguards your assets, turnover and profits

If disaster strikes, an effective ISO 22301 management system will minimise the impact on your income and assets and reduce the risk of further losses.  This is because ISO 22301 requires you to conduct a business impact analysis and identify the effects an event would have on your business activities. By conducting this analysis and putting documented procedures in place, you can return to normal business activities as soon as possible, minimising the impact on profits.

It can reduce your insurance premiums

Insurance companies love ISO certification! Why? Because it is proof you are assessing your risks and taking measures to reduce them, which is what ISO 22301 certification signifies.  

Implementing ISO 22301 ensures you are regulrarly assessing your risks and putting plans in place should the worst happen. This allows you to adapt to any situation that poses a risk to your operations and reduces the time it takes to get back to ‘business as usual’.

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.

It enhances decision-making

Having a better understanding of your threats aids in quicker and better decision-making. A requirement of ISO 22301 is that a business continuity plan is established and tested periodically. 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 you collect and analyse as part of understanding threats allows you to make data-driven decisions, which is imperative for business continuity.

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, minimising the risk of legal non-conformities and associated fines.  

It drives innovation 

Preparing for unforeseen challenges encourages a culture of innovation. An ISO 22301 Management System will help you discover new operational efficiencies, technologies, and business models in your quest to enhance resilience, leading to long-term benefits.   

It facilitates remote working integration

A highlighted benefit during the COVID-19 pandemic, was how ISO 22301 supported businesses with the seamless integration of remote working. With its emphasis on flexible operations and reliance on technology, those with ISO 22301 were better equipped to adapt to remote work demands, ensuring continuity in unprecedented times. Here’s how ISO 22301 helped Johnson Fleming prepare ahead of lockdown.  

If you are interested in learning more about ISO 22301 Business Continuity, speak to our team on 0330 058 5551 or get a quote here.