Disaster Recovery

If disaster were to strike, do you wonder how long it would take for your business to return to normal? In the wake of a disaster, resuming business quickly hinges on effective planning and training before the event. A return to normalcy requires collaboration among employees, suppliers, vendors, customers, insurance companies, insurance agents and brokers, government agencies and financial institutions, to name a few. Setting priorities for critical business functions is one of the first steps in a disaster-recovery planning process.

  • Make sure you haven’t overlooked any of the key processes, even such everyday activities as redirecting mail and telephone calls.
  • Company records and computer information are critical to your company’s ongoing operations. Be disciplined in the regular duplication, backup and offsite storage of company data. In the event of a disaster, access to these records is of vital importance.
  • Establish a disaster-recovery team responsible for implementation of your plan.
  • In planning, consider the company’s immediate needs. How will you handle accounts payable/receivable, vendors, suppliers, customers and employees?
  • Contact real estate brokers to identify potential temporary or permanent alternative space that meets process and utility requirements.
  • Establish a secured line of credit and other sources of funding for emergency expenses.
  • You might want to negotiate reciprocal agreements with competitors, vendors or suppliers for mutual assistance in the event of disaster.
  • Work with your insurance agent and carriers to ensure that you have adequate coverage for your building and operations. In addition, they may be able to help you develop your disaster-recovery plan.
  • Test your plan to make sure you have thought of every contingency.

Read more tips on resuming your business after a disaster.

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