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Volume 32, Issue 3

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Thursday, 06 January 2011 20:42

Preparedness and Testing: Key to Survival


The longevity of your financial institution, as well as the livelihoods and safety of you and your employees, isn’t something to be left to chance. According to a recent study, 90 percent of companies who experience a disaster will fail within a year, unless they’re able to resume operations within five business days of a disaster. A disaster doesn’t have to be a hurricane, earthquake, or tornado. Often, it’s something as simple as a burst pipe, small fire, or even a utility outage. In order to save the business you have worked so hard to build, it is critical to plan for the unlikely events. The first decision is the one you make on planning to stay in business. Start with the basics and keep it simple. Look at how your company functions and which of those functions it cannot