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BEYOND BCP FRAMEWORKS
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* Based on the core values of your organization
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Business Continuity issues: Immediate term, to be addressed by Inter-disciplinary Operational BCP Task Force. Guidelines: STRESS TEST BCP readiness on two dimensions - Length and Severity of Disruption
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Strategic issues: Long term, to be addressed by CEO and Senior Leadership. Guidelines - QUESTION, RETHINK and REVISIT all prior decisions/assumptions
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Employee health, safety and remote working readinessBusiness Continuity IssuesStrategic Issues
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Employee health support systems in case of illnessContingency planning for CXO illness
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Expense reimbursement policiesIdentification of 'generalists' within the organisation to address challenges that arise
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Remote working readiness for staffEvolving organization structure to function in new normal including identification of back-ups to every key role, in case of illness
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Communication protocols and toolsKey leadership competencies to operate in new normal
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Technology choices related to employee communication/collaborationEmployee benefits and protections (including insurance) to address pain points and employee engagement
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Existing human resource deploymentPerformance appraisal frameworks
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Identification of bottlenecks in processes and redesignReal estate office space requirements
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Travel restrictions and policiesKey project inventory and prioritize/reprioritize
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Customer engagement and brand value propositionBusiness Continuity IssuesStrategic Issues
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Customer communication protocolsShort term mission statement - to guide immediate BCP
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Real time demand estimationLong term brand positioning and messaging
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Real time pain points and feedback loopsDefinition of who is your customer and what you want your brand to mean to them
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Customer engagement policiesReview customer segments that may vanish or be fundamentally altered
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Customer engagement processes/alternative mediums of engagementValue of current product portfolio in new normal and future product roadmap
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Helping customers avail scheme/dispensation benefitsCollaboration with partners who have aligned customer interests
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Financial sustainabilityBusiness Continuity Issues Strategic Issues
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Short term cash flow scenarios and evaluation of liquidityFinance team - resourcing and capabilities
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BCP budgetReview business economics and evaluate whether they still make sense
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Budget vs actual tracking in real timeDebt service - renegotiate or delay
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Assess potential revenue effects Capital availability assumptions - equity and debt
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Manage discretionary spendingInvestor mindset with respect to your sector
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Pricing/contract renegotiationNext fund raise assumptions - timing and quantum
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Credit risk monitoringMultiple scenario analyses - based on equity availability
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Collections accelerationAreas to overinvest (including acquisitions)
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Working capital optimizationAreas to pause or stop investing
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Potential covenant violations and representation & warranties violations Opportunities to divest/monetize
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Cross/default (if lender or borrower)Alternative sources of funds (including creative ways of looking at revenue stream)
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Monitor for increased fraudProfitability vs growth focus
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Ensure there is sufficient insurance and other protection measures
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Vendor and supply chain BCPBusiness Continuity IssuesStrategic Issues
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Assessment of vendor supply chains (backend and front endKey vendor dependencies and redundancies
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Vendor BCP plansEvaluate alternate vendors if possible
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Status of vendor contracts and risk to renewal on timing, pricing etc.Financial distress in key vendors/sectors
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Monitor vendor/supply chain disruption - process, metrics, responsibilityBuild vs buy decisions
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Re-evaluate target recovery times in case of disruption
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Country risk assessments
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Contact databases and escalation protocols
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Process readiness for remote and paperless processing
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Technology and data securityBusiness Continuity IssuesStrategic Issues
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Ensure all employees have the technology to work remotelyTeam and capabilities
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Availability of tools and capacity planning for:Financial distress in key vendors/sectors
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 - Customer facing technologyOngoing tech projects - relevance and importance
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 - Internal technologyProduct roadmap and relevance
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 - Vendor facing technologyBuild/buy/acquire decisions and opportunities
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Cloud-based document storage
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Data protection and backups
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Cybersecurity and breach protocols (evaluate shorter VAPT cycles)
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Legal, contracts and regulatoryBusiness Continuity IssuesStrategic Issues
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Reporting requirements for employees testing positiveContingent legal and contractual risks
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Force majeure rights under key contractsRelated contracts – will failure to perform one contract have implications for other contracts?
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Customer grievance monitoring and actionsLong-term regulatory reporting requirements/date changes
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Material adverse change clausesRegulatory environment and direction
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Notification obligations - Customer protection
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Damages in case certain services cannot be delivered - Technology usage
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Termination rights - Pricing controls
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Short-term regulatory reporting requirements/date changesInternational policy trends
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Reference Sources:
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Ernst & Young (Responding to COVID-19_18Mar.pdf)
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https://www.allenovery.com/en-gb/global/news-and-insights/publications/covid-19-novel-coronavirus-10-key-points-for-effective-contingency-planning
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https://www.mwe.com/insights/covid-19-contingency-planning-checklist-and-considerations-for-corporates-and-portfolio-companies-of-private-equity-funds-to-manage-the-crisis/
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