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Crisis Management

A mix and match approach is ideal where you can carve out options and allocate budgets in a cost ef- fective manner to cover the unpro- tected data,” says Menon. And it is imperative solid DR strategy is in place. BCM arrangements have to be carefully weighed against the fi- nancial impacts they prevent. Tis is the most important determinant for choosing a particular BCM solution. “Te BCI mentions the use of key tools such as Business Impact Analysis (BIA), Estimating Continuity Resources Require- ment (CRR), and Risk Assessment (RA) to estimate financial impact of outages and determine the cost of providing solutions. Finally, the management has to balance be- tween Low BCM Investment and Higher Risk vs. High BCM

Investment and negligible risk. Experience shows that ultimately the risk appetite of the organiza-

tion’s leadership will decide what is chosen,” explains Abhyankar.

Adoption BCM is the catch-phrase in the small and medium enterprises (SME) segment currently. Tey have budgets being set aside and are seen to engage professional BCM vendors for RA/BIA as well as implementation of the pro- posed DR solutions. “Most use Data Vaulting services in which backup media is moved to offsite storage to increase resilience.

As for IT systems DR, many are turning to the cloud computing platform, which apart from the inherent technology benefits of the cloud radically bring down costs of DR implementation and maintenance. Te only aspect where the SME seem to be slow in embracing is the Alternate Work

Area Recovery (WAR) arrange- ments, where one contracts seats (workstations) to be used during office space outages. SME tend to either accept the risk or make temporary arrangements such as reciprocity with a competing firm with similar setup or displacement of their own office elsewhere.

Both these are found to be coun- terproductive and some estimates forecast a surge in demand for WAR services from the SME seg- ment,” says Abhyankar. India is seeing a sudden spurt in organi- zations striving to build in resil- ience—partly because of competi- tive pressures and partly because of mandates. Tese encouraging trends are harbingers of more robust and predictable businesses in the coming future.

GIREM 101 33

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