The Importance of a Business Continuity Plan

 

What would happen if you lost all of your recordings?

Call Recording is critical for many organizations, but a disaster or disruptive event could mean the loss of recordings, which could cause major issues down the road. Having a Business Continuity plan in place that addresses resiliency (a feature that prevents recordings from being affected), recovery, and contingency is crucial for several reasons:

  • Compliance – Many regulations require that all calls be recorded and retained, with the ability to be easily and quickly retrieved if needed. Ensuring that all calls are recorded and all recordings are available is especially important for organizations in the Financial Compliance industry as fines related to Dodd-Frank and other regulations continue to rise.
  • Revenue – Call Recording downtime can mean lost sales and productivity, resulting in a loss of revenue. The fallout from a disruptive event can also add up - from temporary employees, recovery projects, and overtime costs – your revenue could take a huge hit if a disaster were to occur.
  • Risk Mitigation – Call Recording is crucial to mitigate not only the risk of non-compliance, but the risk of litigation as well. Recorded calls serve as evidence that allows organizations to settle disputes with customers. You never know what call you may need and any lost call can increase your organization’s risk of high litigation costs and fines.


General Services   Tags: Compliance Financial Compliance Dodd-Frank Act Professional Services Business Continuity