60 percent of firms adopting ISO 22301
In a recent report, the Business Continuity Institute found that only 60 percent of enterprises adopt the international standard for business continuity, ISO 22301. This 60 percent is led by firms showing the strongest top management commitment to standardizing business continuity practice, yet the reasons cited against adoption were many, and even fewer companies actively seek certification of the standard from their supplier, which creates potential hazards as well.
According to Continuity Central, 61 percent of the firms that adopt ISO 22301 said they do so because of the assurance of continued service it provides. However, 48 percent also cited the boost to their reputation, as well as reduced risk of business interruption. Another 45 percent cited greater resiliency, and 44 percent noted faster recovery as reasons to adopt the standard.
Despite these benefits, 25 percent of survey respondents noted that resource constraints were a major contributor keeping them from adopting ISO 22301, while 19 percent cited complexity of the requirements. However, these low percentages are encouraging, the news source notes, and could lead toward increased adoption in the near future if these concerns are met.
Increased adoption of this important standard will help solidify business continuity planning across many different industries, ensuring supply chains are well maintained during a local or international crisis. As companies increase the amount of business they do globally, this becomes increasingly important.
If your organization hasn't adopted ISO 22301 yet to prove its adherence to continuity best practices, maybe it's time to consider business continuity consultants who can help bring your operations up to speed and minimize risk while implementing such standards across the enterprise. This will help to minimize risk, boost productivity and provide a solid foundation for launching disaster recovery efforts.