Business Contigency Plan

Business Contigency Plan-6
Ed serves as director of the Texas Bankers Association District 4, chairman of the Executive Advisory Council to the School of Business at Texas Lutheran University, and is a life member of the Texas Association of Business.According to the last security breach survey [PDF] conducted by the Department for Business, Innovation and Skills (BIS) 76% of large organisations and 83% of small businesses believe security is a high or very high priority to their senior management.

Rather than fearing the worst, organizations can implement effective and practical strategies to help them remain operational in the event of unforeseen circumstances.

Even if you think you won’t use it, putting in a little bit of work now will pay off in the long run. Depending on your company structure and assets, there’s a number of potential risks to look out for.

For peace of mind, ensure that data is backed up with a trusted provider or cloud storage location.

Go the extra mile and encrypt it to secure records and information from theft.

For most companies, losing sensitive data relating to clients and customers is not just inconvenient; it’s also a threat to the company’s reputation and security.

Backups help you rebuild your network and system no matter what happens so you don’t have to start from scratch.As a business owner, you have a lot of control over your financial health.Committing to best business practices can ensure positive growth and prosperity.Putting plans in place provides reassurance, and can save your business in the case of a sudden crisis.If you have any questions or concerns about potential risks and how to plan for them, make sure to talk to trusted advisors (Ed Lette is Founder, Vice Chairman of the Board of Directors at Business Bank of Texas.But when you’re busy handling emergency situations, your team needs to know how to stand on their own.Identify employees’ abilities, and delegate responsibilities accordingly.Assign who will have access to documents to act upon and define roles for specific events like cyber attacks and evacuations.Creating a step-by-step plan of action will help set expectations and provide clarity in an event of a disaster.Serving as a licensed CPA since 1983, Ed’s extensive experience in the banking industry has led him to become the founding president of four national bank charters including Business Bank of Texas, N.A., and the chief financial officer of five national banks during his 45 year career.

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