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Why Are Businesses with Money Failing in the Coronavirus Pandemic?
Having working capital is important for all businesses regardless of size, but it’s not enough.
Author: John McMahon
Read time: 8min
Emergency Business Continuity
Strategies More Important
Than Working Capital
You watch the Coronavirus task force talk each day. The federal government is making money available to try to help companies survive these months of shutdown. And…your heart goes out to those businesses that are struggling.
The ones you don’t feel sorry for? Well, they’re the companies that have the financial reserves to make it through the hard times. So, here’s the question. Why are some of those companies struggling and going under?
It has nothing to do with their finances and everything to do with their technology.
Circumstances outside of your control can test your business continuity plans. Those without plans will find themselves on some kind of life-support (if they’re lucky).
When Facing A Disaster Without Business Continuity Technologies and Strategies, Businesses End Up on Life Support
The companies that invested in cloud assets and cloud-based business continuity strategies over the past few years were able to move employees to work-from-home situations without skipping a beat. Their processes, data, and workspaces were already in the cloud, ready to go.
However, those without a verifiable business continuity plan right now are finding themselves swimming against a tidal wave of bad news. They’re watching their competitors get ahead.
If you’re one of those companies, we understand, and we’re on your side. It’s not your fault. Nobody saw this coming. It’s going to take some time to find your footing in the new normal (whatever that ends up being). This is true even for your competitors.
It’s not too late to move to a business continuity strategy. Do it now. This week we can give you access to an anywhere, any-time, on any-device workflow. Moving to the cloud is the single most powerful strategy you can use to put your company on a level playing field with your competition.
Business continuity is all about keeping things running smoothly and staying ahead of problems. How prepared is your company?
Designing and Implementing a Business Continuity Plan While You Are in the Middle of Navigating Rough Waters
1. The Elements of a Robust Business Continuity Plan
Cloud-based Workspaces (Hosted Desktops) – In this setup, your operating system, applications, data, and personal settings are all hosted securely in the cloud and are protected by secure access protocols. This is critical for employees to work from home or for you to be able to utilize a secondary location.
Geo-redundant Data Backups – By moving backups to the cloud and duplicating those backups in data centers in various geographical regions, your backups are not only protected against local disasters that impact your facility but also regional disasters that could bring down a single data center.
VoIP Communications Systems – VoIP (Voice over Internet Protocol) communications systems allow you to access the full professional features and branding of your office phone system from any internet-connected device. Employees can access their office line from wherever they are, and new lines can be provisioned within a simple online control panel. With VoIP communications systems in place, voice calls, direct messaging, and video conferencing bridge the gap of in-person communications during a crisis.
2. The Implementation of a Business Continuity Plan
Most, if not all of the companies operating in the world today are now operating off of their continuity plan technology. Some had it already in place. While others are having to scramble to get things figured out in a hurry.
If you’re in the second group, IronOrbit has good news for you.
Moving your workflow into the cloud can be simple and painless (for you). We take on all the hard work of migrating your applications, user settings, databases, and emails while ensuring that everything works as well – or better – in the cloud environment than it did when you had everything hosted on-premises.
But there’s more good news! A company like IronOrbit can set up a business continuity strategy and get your business up and running in the cloud without interrupting your current workflow.
3. The Management and Testing of a Business Continuity Plan
The good news about kicking off a migration to the cloud and utilizing the emergency side of a new business continuity strategy right now is that you get to see your investment working for you right away.
Because of the situation the world is facing right now, companies are getting to see the advantages and drawbacks of the business continuity technology choices they may have made years ago.
Investing in business continuity technology now allows you to “test drive” the tech during the remainder of this challenging time and utilize the most promising workflow features as we move into better times. From an investment point of view, this is a smart time to see what the cloud can do for your business processes and profitability.
Management of Your Business Continuity Plan
Have some questions about how to keep your operations and core business functions going?
We’d welcome the opportunity to talk with you about it.
Call us at (888) 753-5060 Or click below to get in touch.