The most awaited report for continuity and resilience professionals is finally out.
The first outcome is that technical concerns are still on top of the management’s mind. Unplanned IT and telecom outages were the top disruption over the past 12 months, and this trend is not expected to slow down even for next year.
Again, cyber-attacks and data breaches are instead the top concern for the future 12 months. This may be due to a lack of competences about information security. Disruptions from adverse weather and natural disasters are also expected to increase in the future.
Nevertheless, the costliest disruptions are health and safety incidents (1.186 billion USD), followed by reputation and adverse weather.
Moving to how organizations address these threats, internal risk and threat assessment are still the main method; 91% of organization perform this kind of analyses.
The uptake of ISO 22301 as a framework for the development of a business continuity management program is growing, with 69% of organizations currently using the international standard as a guidance.
And business continuity definitely helps organizations reducing losses. Organizations adopting business continuity plans, in fact, report lower losses than the average from disruptions in the last twelve months.
This data results in the fact that organizations planning to increase investment in the next twelve months have increased by 12% compared to 2018 (18% to 30%).
Download and read the full report on the Business Continuity Institute website.