Did anyone get the license plate of the truck that just hit the world economy? I think it was Covid-19!! Which makes this the time to make sure your company has a thorough business interruption/disaster plan in place. This weekend I stocked up disaster supplies for the house; toilet paper, tuna fish and extra beer! Having all the details covered for your business will require more planning.
Learning From Experience
Last year our company was unlucky enough to use are emergency preparedness plan twice due to storm damage. The second business interruption event was much less stressful having made corrections and changes to our original plan. An important lesson was discovering that our cloud-based accounting software was not cloud based! Now our accounting software is now truly cloud based, making our remote connectivity much simpler.
Most service companies that are just a few years old are already well prepared for business interruptions since they run their business off smart phones and laptops. Always remember to back up to a secure third party every day! Have all employees cross trained so that your customers won’t notice an employee’s absence.
Manufacturing companies are more vulnerable to business interruptions by their not being mobile. A back up generator capable of running all critical equipment is a necessity with today’s violent weather. Again, the more employees that are cross trained in all aspects of manufacturing, shipping, sales will be valuable if there is a widespread health crisis. Have extra inventory and finished goods on hand in case there is an interruption of supplies.