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Prepare Emergency Response Plans for Business Continuity

Having a business continuity plan can keep natural disasters from derailing op

From supply chain interruptions to basic logistical problems, not having a strategy for getting operations back on track can prove financially disastrous. As CFO magazine points out, September is national preparedness month, and no matter what size a company is, it needs to develop a business continuity plan.

Devoting the time and resources to drafting a strategy comes with a good return on investment, the source says, pointing to a study showing companies with a weak disaster recovery plan experienced financial losses seven times greater than those with a strong strategy.

CFO cites advice from the Federal Emergency Management Agency, which has released suggestions for businesses that are just developing plans now. Be sure to address how the company will contact employees, recover records and keep IT assets secure. The CFO should also discuss coverage with insurance providers.

"An emergency or disaster can happen at any time and without warning," stated John Amann, vice president of first aid and safety at Cintas, which also issued business continuity tips. "To avoid downtime or potential hardship, businesses should make sure they have the right products and training in place to ensure their workplace is prepared in case an unforeseen event was to occur."