Majority of U.K. companies consider new continuity standard
Security legislation, rising insurance premiums, investor focus on risk, and increased outsourcing prompt U.K. companies to consider being certified as complying with new British standard for business continuity
More than half — 60 percent — of U.K. companies are considering certification on the new British Standard for business continuity, according to a survey by Business Continuity Expo 2008. According to the business services organization, BSI, drivers for the business continuity standard include security legislation, rising insurance premiums, investor focus on risk, and increased outsourcing. “Companies are now taking business continuity seriously and investing in a framework to ensure they have structures in place so that if a crisis hits they are prepared for it,” said Paul Lanham, global marketing manager for BSI Management Systems. He said the BS 25999 standard had attracted organizations that have not traditionally embraced independent verification standards.
Lanham said although some organizations regarded the standard as an extension of their risk management initiatives or were using it as a management and assurance tool in their supply chain, many saw BS 25999 certification as a way of gaining competitive advantage. “So far we have certified logistics company TDG and information and business continuity consultants Sungard since the standard’s specification was published in November, with many more lining up to follow suit,” said Lanham.
