Wall Street banks and the stock markets are always affected by world events, but the coronavirus crisis has had an unprecedented impact. There are plenty of lessons to be learned, including the importance of disaster recovery planning for any business – including the big Wall Street institutions.
Financial markets have been disrupted across the world as the coronavirus has spread. Curbs on travel have impacted distribution networks. Meetings and conferences have been cancelled or postponed. The big financial institutions have been rolling out their backup strategies, while traders reel…
The bottom line is that coronavirus is a true disaster. You may have first thought of it as a catastrophe for people and families, but it’s become clear that it’s a huge crisis for businesses too. Anything that interrupts a business’ processes can be disastrous, and COVID-19 has done that on a massive scale. So, to prepare for a pandemic, what should your business be doing?
This may be a particularly widespread disaster, but the appropriate response to it isn’t too different from standard business continuity planning measures. The aim of disaster recovery planning is to ensure that your business has the mobility it needs to weather the storm.
Most countries have instituted social distancing strategies, limiting interpersonal contact in order to prevent the virus spreading further. Most people are taking this very seriously, and trying to keep as far away as possible from everyone except members of their own household. For many millions of people that means working from home, if they can.
Fortunately, today’s technology solutions facilitate remote working, software-as-a-service delivery and cloud-based disaster recovery. These strategies are often put in place in case of a disaster event in your office’s location, but they work just as valuable in the current pandemic scenario.
So – if you have the tech solutions to safeguard yourself against the difficulties coronavirus is causing businesses, you’ll be protecting yourself from other disasters too. It’s win-win all round.
Do you need help in implementing business technology solutions, so you can maintain business continuity through any disaster? For advice and assistance on disaster recovery planning, reach out to the professionals at Quikteks at (973) 882-4644.
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