Developing Business Continuity and
Resiliency through ISO 22301 Certification in Singapore
As businesses across the globe continue to experience unprecedented rates of change due to digital advancement, pandemics, social unrest, and other unpredictable variables; business continuity is more imperative than it has ever been.
In Singapore, if your business does not have a Business Continuity Management System (BCMS) in place, you should start thinking about getting one. ISO 22301 Certification is an important step toward developing and maintaining a BCMS, as it provides an internationally recognized framework for businesses to structure and implement their business continuity activities.
What is ISO 22301 Certification?
ISO 22301 helps businesses assess their vulnerability to disruptions and create a plan for continuity of critical business functions.
In Singapore, having ISO 22301 Certification is a significant advantage as it indicates to your clients, partners and employees that you have thought about how you will respond to disruptions. Achieving ISO 22301 Certification will not only help you maintain your business continuity by providing you with an awareness of potential vulnerabilities, it will also provide a framework for your business to follow in order to achieve this goal.
Why Should your Company Obtain ISO 22301 Certification?
The primary reason most companies seek ISO certification is to demonstrate alignment with internationally recognised standards and good business continuity practices.
Reducing Downtime: A Continuity Business Plan Would Enable Continuation of Business Despite Interruption Staying operational Reduces Financial Impact of Downtime on a Company.
Larger Corporate Clients and Government Agencies Will Likely Want to Work with a Partner Entity That Demonstrates Ability to Remain in Business after a Crisis/Catastrophe.
The Continual Monitoring of Emergency Preparedness for an Entity Means Assessing the Entity’s Business Processes from Different Perspectives, Which Helps to Reveal Previously Undetected Areas of Vulnerability.
The ISO 22301 serves as a Benchmark Standard Globally, Which Will Enable Access to International Opportunities.
Path to the Certification of the Business Continuity Management System
The Path to Developing an Effective and Complete Business Continuity Management System Normally Follows the Following Major Steps:
1. Evaluation and Planning– Evaluate Current Process, Policies and Procedures Related to Business Continuity Management to Determine How They Compare with ISO 22301 and Where the Weaknesses Exist
2. Develop and Develop – This Step Typically Includes Conducting a Business Impact Analysis (BIA) to Identify Which Functions of Your Organization Are Most Important to Your Continued Success and Developing a Recovery Strategy
3. Training and Implementation– Employees Will Receive Training Regarding Their Role(s) During a Crisis and Be Provided Instructions Regarding New Business Continuity Process and Procedures
4. Audit and Review– Prior to Receiving the Certifying Body’s Final Report, an Internal Audit Must Be Conducted to Ensure Compliance with ISO 22301. Once internal compliance has been verified, the organisation may proceed with certification audits conducted by an accredited certification body.
Your Business Prepared?
No matter if you’re a start-up in Singapore or an established enterprise, being resilient is how companies remain in business long term. While the ISO 22301 Framework may be a little more technical than most other standards, at its very core is the basic idea of: Stay prepared so you don’t have to get prepared.
Are you wondering if your current BC Plan is compliant with International Standards?
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