Increasing Your ROI with Preparis Business Continuity Planning

In this article, we will discuss the key findings of the study and the benefits of investing in business continuity planning software, as well as the potential risks of not doing so. We will also provide a brief overview of how Preparis streamlines disaster mitigation and recently worked with Hobson to create a simple ROI calculator that quantifies business continuity challenges to deliver a quick and compelling ROI calculation.

The Benefits (ROI) of Investing in Business Continuity Planning

Investing in business continuity planning software can provide several key benefits, including increased ROI, improved operational efficiencies, and enhanced customer experience. A recent study conducted by Hobson & Company found that Preparis can provide customers with as much as a 400% ROI in just one year. For example, the study showed that an organization with $95m in revenue, 450 employees, and 15 business continuity plans would pay back the cost of Preparis in less than three months.

For context, customers interviewed reported a 50% reduction in time spent creating plans, an 80% reduction in time spent maintaining plans, and a 30% reduction in time spent testing plans. This demonstrates the operational efficiencies that can be achieved by investing in such a solution. One business continuity and disaster recovery specialist said, “Preparis has preexisting templates that I can customize, and information automatically feeds into the template and saves me time. Prior to Preparis, I used a Word doc and walked them through it manually, which took 1-2 hours, and Preparis cuts this time in half.”

The Risks of Not Investing in Business Continuity Planning

Not investing in business continuity planning software can be a risky decision. A significant amount of time can be wasted on manual processes, and the potential for downtime incidents and life safety incidents increases. According to Hobson’s research, 54% of companies have experienced an 8-hour downtime event, and less than 20% have a formal business continuity plan in place.

Furthermore, organizations that do not have a formal plan in place are at a greater risk of reputational damage and losses in revenue. Some industries are highly regulated and require organizations within that industry to maintain an updated business continuity plan. As such, not investing in a business continuity planning solution can have serious consequences for an organization.

Overview of Preparis and Hobson & Company

Preparis is a business continuity management platform that simplifies the setup and maintenance of contacts in emergency notification databases, helps organizations stay compliant with industry standards, and consolidates existing disaster response vendors with a fully integrated solution all in one central platform. Customers have reported up to a 95% reduction in time spent setting up and maintaining emergency notification databases and a 90% reduction in time spent on audit preparation. In Hobson’s report, one Preparis user mentioned, “When we were audited at the end of last year, I was able to log into the portal and email the report in a matter of seconds. Prior to working with Preparis, we did not have the ability to do this.”

Hobson & Company is a technology consulting firm that assists technology vendors and purchasers with uncovering value and driving the adoption of new technologies. Hobson & Company has created ROI tools and processes for over two decades that help technology vendors qualify prospects, close more deals, increase average deal size, and defend pricing. We have worked with early-stage start-ups all the way up to some of the largest technology vendors in the world. Our clients come from diverse industries, including Enterprise Software, Health Care IT, and Specialty Applications.

Conclusion

Business continuity planning is an essential tool for organizations to mitigate risk and ensure the continuity of critical operations. Investing in a proven business continuity planning solution can provide a number of key benefits, including increased ROI, improved operational efficiencies, and enhanced customer experience. Organizations that do not invest in such a solution are at a greater risk of downtime incidents, life safety incidents, and reputational damage. Preparis offers business continuity planning solutions that can help organizations reduce the time spent creating, maintaining, and testing business continuity plans. For more information or a breakdown of your organization's potential ROI, click here to view the ROI calculator.