Business continuity is quickly rising as a requirement to win (and keep) top revenue generating client-vendor relationships
Mike Boardman
From disruption to growth: A global sales and marketing leader who drives value-driven strategic relationships in multiple industries. #TOP STRATEGY VOICE and #TOP BUSINESS DEVELOPMENT VOICE
In today's post-pandemic economic environment, business continuity planning is becoming increasingly important for companies that want to win and retain top revenue-generating client-vendor relationships. Companies are recognizing the value (and need) of having a strong BCP in place to minimize the impact of unexpected disruptions and ensure that they can continue to operate seamlessly, even in challenging situations.
[1 in 2 businesses have experienced an extended break in continuity*]
Top revenue-generating client-vendor relationships are typically critical to a business's success, and disruptions to these relationships can have significant financial and reputational consequences. Therefore, companies that can demonstrate a strong commitment to business continuity and show that they have a robust BCP in place are more likely to win and retain these relationships.
[75% of companies have suffered supply chain disruption**]
Moreover, having a strong BCP in place can also help businesses differentiate themselves from competitors and position themselves as reliable partners that can be trusted to deliver uninterrupted service. As a result, more and more businesses are investing in BCP and making it a key part of their overall risk management strategy.
[51% of companies don’t have a robust, living, or active business continuity plan***]
Therefore, while it may not be legally mandatory for businesses to have a BCP in place for their relationships, it is considered a best practice that can benefit both parties and help to ensure long-term success.
*DataCore
**Supply and Demand Chain Executive and Interos
*** Mercer via Economic Times
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1 年It most definitely does drive revenue and client retention (I'll lump DR in with this as well). Outages can have adverse affect on both and if you have a great story to tell in BCP/DR then it will drive wins and revenue.