THE MOST UNDERRATED CRITICAL BUSINESS ACTIVITY IN THE LEGAL WORLD: BCDR
None of us want to spend time planning for the unthinkable. However, since the coronavirus (COVID-19) pandemic, we know too well that pandemics, infectious diseases, climate hazards (including climate change) and natural disasters are unfortunately the ‘new normal’. Thus, planning is not optional, and this is where business continuity and disaster recovery (BCDR) is key. BCDR is a set of processes and practices developed to support organisations and help them recover and continue their business operations during and in the aftermath of a disaster.
Whether you are a law firm partner, a general counsel in a company or an arbitrator, business continuity is not something you would probably favour spending time on. History usually draws a clear line between those businesses with proper BCDR plans and those which are not prepared.
The business continuity part of a BCDR plan ensures that core business functions continue to operate during and after a disaster and addresses planning in terms of communication and crisis response, i.e., giving clear instructions to every employee. The disaster recovery aspect of a BCDR plan is more specific to system and data recovery, ensuring there are recovering points and time objectives to avoid loss of data.
Big law firms already have BCDR plans in place, but such plans probably need to be updated and refined. For small and medium-sized law firms, it is crucial that they be proactive in putting BCDR plans in place, otherwise they risk never recovering following a disaster. The COVID-19 pandemic is another stark reminder of BCDR importance for all businesses, not just Big Law. It is the first time, in this age of technology and global travel, that a crisis brought the world to its knees for an extended period of time.
Jul-Sep 2021 issue
BVI International Arbitration Centre