Only 50% of businesses well prepared for IT failure
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The meagre showing is an improvement on last year's findings when a mere 27% of companies said they were very well prepared for IT failure.
Only 51% of FTSE 250 companies are “very well” prepared for IT systems failure, according to research published by the British Standards Institute (BSI).
The BSI’s annual survey of FTSE 250 companies found that many organisations continue to put themselves at “unnecessary risk”. A worrying 46% of businesses said it would take less than a day for their operations to be significantly affected in the event of a serious disruption.
The meagre showing is, nonetheless, a considerable improvement on previous years’ findings. In 2005, a paltry 27% of businesses considered themselves prepared to manage the risk of IT failure.
The 24% jump in one year suggests that businesses are becoming increasingly aware of the importance of IT to the smooth running of business operations.
Overall, said the BSI, the awareness of the importance of adequate business continuity provisions is growing among FTSE 250 companies, the market value of which is more than £260 billion.
This summer’s floods, in which several major organisations including Parcelforce and leading law firm Irwin Mitchell were affected, have highlighted the growing risks to business continuity posed by extreme weather conditions brought on by climate change.
The growing threat of terrorism to businesses was also underlined in November 2006 when law enforcement agencies revealed that they had foiled a major plot to blow up several target businesses, including the Citigroup Centre in New York, the New York Stock Exchange and Prudential world headquarters.
Further reading
Terrorism: IT's responseIBM chief: Security industry "in turmoil"
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