What is ISO 22301? And How Can Business Continuity Help Your Business?
Posted by John Mills on February 9th, 2021
What is ISO 22301?
ISO 22301 is the international standard for business continuity and provides specifications for the Business Continuity Management System (BCMS). ISO 22301 was first published in May 2012.
ISO 22301 is a standard for management systems to comply with business interruptions.The purpose of the requirements is to help companies reduce the likelihood of disruptions, prepare for and respond to them whenever they arise.Business Continuity Management System means ISO 22301 certified which means organization:
- Implements, maintains and improves its BCMS
- Consistent with its stated business continuity policy
- Supports resilience through business disruptions
- Can continue to deliver products and services at an acceptable capacity even during an interruption.
ISO 22301 was initially introduced in 2012 and revised in 2019. While many of ISO's recent revisions have had major changes from previous versions, the 2019 version is very similar to the 2012 one. It has fewer mandatory documents, less prescriptive requirements and new guidelines regarding planning changes to the BCMS. Businesses have until October 31, 2022, to transition to the 2019 version.
Requirements for ISO 22301 Documentation
To help you out, here’s the list of mandatory ISO 22301 documents for the Business Continuity Management System.
- ISO 22301 Manual
- BCMS Procedures
- BCMS Policies
- Standard Operating Procedures
- ISO 22301 Audit Checklist
- Document Compliance Matrix
How can business continuity help your business?
- Compliance. Almost every country has more and more laws and regulations that require continuity of business; but, even more interesting is the growing number of business customers who need to apply business continuity processes to their peers and suppliers. The good news is that ISO 22301 is a perfect framework for complying with all of these requirements, in part because BS 25999 and ISO 22301 were a model when those laws and regulations were developed. This means that less effort and fewer penalties should be paid in the compliance process.
- Marketing benefits. If your company has ISO 22301 certification and is not your competitor, and if your customers are very sensitive to service availability, you can really get new clients because you can assure potential clients that you are the best in the industry. This means an increase in the market and more profits.
- Reducing dependence on individuals. More and more executives know that their business depends on many people who are often difficult to replace - this is especially evident when people leave the company. With the implementation of business continuity, the company actually becomes much less dependent on those individuals due to the replacement scheme and documentation of tasks.
- Prevent large-scale damage. If you are an internet service provider or telecom company, every minute availability of your service costs a lot of money; maybe not so much in other industries, but again it costs money. So basically, the implementation of your business continuity is a kind of insurance policy - it will enable you to prevent some incidents, while for others you will be able to recover more quickly. And by doing this, you can save a lot of money.
For more information visit here: https://www.globalmanagergroup.com/Products/business-continuity-system-manual-documents.htm