Is ISO 22301 Business Continuity Management Certification Worth It?

Summary

The article will discuss the benefits of ISO 22301 business continuity management certification. It aims to help organisations determine whether the certification is worth obtaining for their business.

From pandemics and environmental issues to recessions and cyber attacks, modern businesses across nations are taking hits one after another. As a result, business continuity has come to the forefront of their priorities.

The ISO 22301 business continuity management standard aims to help businesses become more resilient and create more effective business continuity management strategies. It’s incredibly profitable if you want to safeguard your company’s operations from natural and manmade destruction.

However, obtaining the certification also takes a lot of time, monetary investment and effort.

So, is it worth achieving?

Continue reading the following section to learn about its best benefits and decide for yourself!

What Is 22301 Business Continuity Management Certification?

The ISO 22301 is a management standard for organisations to adhere to. It presents a set of requirements to help companies lessen the possibility of interruptions while addressing disruptions when they arise.

When an organisation obtains the ISO 22301 registration, it means:

• It implements, maintains and improves an active business continuity management system.
• It conforms to its stated and applicable business continuity policies.
• It is resilient and has the capability to continue its business operations during disruptions.

The latest version of the ISO 22301 came out in 2019. It has a total of ten clauses, among which the clauses 4 through 10 include its requirements.

Why Obtaining The 22301 Business Continuity Management Certification Is Worth It

Other than the ability to maintain your business during disasters, there are many more reasons that make the ISO 22301 business continuity management certification absolutely worth it.

Business continuity policies:The ISO 22301 standard requires organisations to create robust plans. When adhering to the standard, you shall develop strategies to deal with and prevent potential threats. You will have the responsibility to create business continuity policies tailored to your organisation.

Quick response and recovery procedures:By following the ISO 22301 requirements, you can implement robust, short and actionable guidance for many potential risks. You will be able to quickly turn your ideas into actions, reducing downtime.

Increased asset protection:Most disruptions, be it a pandemic or a data breach, can directly impact the revenue of your business. It hurts the bottom line as well as the brand image. With a business continuity management system, you can protect your company’s profits and continue to serve your consumers. Also, you can plan to protect your assets, create response procedures and minimise liquidating assets to make up for lost revenue.

Preserved reputation:Panicking in the face of a crisis and making the wrong decisions is never a good look for a business. Following the ISO 22301 business continuity management system standard can help your company maintain its robust brand reputation and keep satisfying its consumers to preserve its image.

In-depth information on potential threats:Not knowing what to expect can be harmful to your organisation. Without the proper assessments, you can never know the potential risks and their dire impact on your organisation. That’s why the ISO 22301 encourages companies to perform risk assessments routinely and uncover those possible threats in advance.

Management involvement:The ISO 22301 certification requires the top management of organisations to be heavily involved in each step of the process. Their commitment can help you ensure all your stakeholders can take part in the process, reducing risks from the root of the supply chain.

Reduced insurance cost:When you are already aware of your organisation’s potential risks and know how to handle them, you can gather internal resources to deal with them. As a result, you will need less insurance coverage and eliminate unnecessary policies, lowering your insurance burden.

Demonstrate legal compliance:Some incidents can trigger the requirement for meeting legal regulations. Your business continuity management systems can help you meet these regulations in difficult times and quickly adopt new procedures and policies in response.

Business credentials:Obtaining the ISO 22301 certification can help unlock more opportunities for your organisation. It can mitigate business interruptions, increasing credibility and decreasing risks.

Is It Worth It?

So, do you think obtaining the ISO 22301 business continuity management certification is worth the effort? The ISO BCMS certification surely has some intriguing benefits. And with the correct professional guidance, you can obtain it within your set budget and time.