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How to Choose the Right Business Continuity Test for You – ReadWrite

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How to Choose the Right Business Continuity Test for You - ReadWrite


Today’s businesses need to be prepared for unforeseen impacts on their work. A Business Continuity Plan is an excellent way to do this; it consolidates everything you need to do when an outside event disrupts your business. But, of course, any Business Continuity Plan also needs regular testing to ensure it’s fit for purpose. 

We’ll be taking a look at an explanation of what a Business Continuity Plan is, what testing looks like, and how often you should be testing it.

What is a Business Continuity Plan?

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A Business Continuity Plan explores how a business works after a disastrous event. It offers procedures in the face of fires, natural disasters, mass disease outbreaks, or data breaches. 

A key concern of today’s plans is data backups. Since many industries (like content marketing for saas) require extensive planning, we need to know our protected data. Other critical components of the plan include comprehensive contact details for staff and maintaining productivity on a short-term or long-term basis. 

If you employ a manual QA tester, you can understand a business continuity plan isn’t static. They require regular testing to ensure that they do what they’re supposed to. Testing also helps to spot any blind spots or areas for improvement.

Do I Need a Business Continuity Plan?

If the last few years have proved anything, it’s that nobody can really predict the future. As a result, unexpected events can completely upend our daily lives, and businesses can be severely compromised or go out of business altogether.

Invenio IT reported that in 2020, 51% of businesses worldwide didn’t have a business continuity plan. Given how dramatically the world of work has changed, that’s an oversight we literally can’t afford to make. As a result, 90% of businesses fail within a year if they can’t recover quickly from a disastrous event. 

A business’s inability to keep working in the face of adversity is a threat to customer acquisition. Even if you have a detailed customer onboarding template, customers will likely reject you if your business isn’t reliable. 

Business Continuity Plans demand significant investments of both time and resources. But they can be the difference between a business’s survival and its collapse.

How Do I Test My Plan?

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Today’s businesses can approach business continuity plan testing in several different ways. It’s important to understand that different test types share the same fundamental tasks—understanding your plan, putting it into practice, and identifying potential improvements. The difference lies in how closely you look at your plan and the resources you can commit.

You might want to take some inspiration from the quality assurance process of software testing. First, have a clear idea of what you want to look at or improve. Then, involve everyone who needs to be involved, and has a dedicated team of people assigned to the task.

Business Continuity Plan Review

A Business Continuity Plan review is the most straightforward approach to plan testing. It acts as a basic audit of your plan with key personnel—the main BCP (Business Continuity Plan) team, department heads, and some management staff. During the review, participants simply read through the plan and see if there are any obvious flaws. 

The rise of cloud services means it’s relatively easy to preserve modern-day business data. For example, if we’re calculating CSAT, we might use a cloud-based graph to track our progress. Although, don’t treat these as a silver bullet; make backups and keep a record of what cloud services you use.

This kind of test is easy to arrange and helps introduce your plan to new BCP team members. However, this test is also very lightweight. As a result, it lacks an in-depth assessment of a plan’s effectiveness and doesn’t communicate procedures (or benefits) to the broader workforce. 

Tabletop Testing

Also known as a structured walkthrough, tabletop testing is a simple roleplay scenario. A business’s key stakeholders come together to simulate a risk to the business, and see if they understand how to respond. A continuity plan needs human eyes on it; the more hands-on you can be, the better.  

Tabletop testing usually looks at a few different scenarios; participants review response procedures, outline responsibilities more clearly and see if they can improve the overall plan. If you’re just starting out, begin with something relatively simple like hacker attacks; these are both commonplace and relatively easy to thwart.

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This testing type is a great way to bring employees up to speed on what’s required of them. It takes an in-depth approach to the plan and usually brings together multiple departments. This makes understanding and amending the project much more straightforward.

At the same time, tabletop testing has significant requirements. It takes a long time to do properly, and it needs thorough documentation for it to be of any use at all. It’s also not as hands-on as other testing types; in many cases, you’re more talking about the plan rather than putting it into practice.

Walk-Through

This is the most ambitious form of continuity plan testing. Participants in a walkthrough carry out recovery actions (such as restoring backups and testing redundant systems), and anything else a business thinks is relevant. This involves the plan’s critical personnel and any relevant employees. 

It might also require traveling out of the office (for example, external data storage locations). Just as localization testing examines an app or website in different places, a walkthrough ensures all the components of your plan function wherever they’re located. 

This hands-on approach to testing gives you the most precise idea of how effective your recovery plan is. That said, it’s also the most resource-intensive. For example, carrying out a walkthrough demands a lot of investment from a business. It can also be quite challenging to arrange if you need several different colleagues to participate.

How Often Should I Test My Plan?

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Testing frequency depends on your business’ needs and the resources you have to work with. As you can see, detailed plan testing isn’t something you can do every day. Even at a basic level, it requires several people from several departments to be genuinely effective.

You also need to consider what you are testing for. Today’s businesses face multiple threats, but some are likelier than others. For example, if you work in an area susceptible to flooding, you may want to focus on your business’s flood response. That said, remember to consider commonplace threats, such as data breaches, to which a security assessment is a good response.  

At a minimum, it’s best to conduct one tabletop test per year for each key area of concern. This includes recovering from likely disasters, business continuity, incident response, to name but a few key areas of potential agitation. You should also aim to carry out an in-depth walkthrough every two years. Time-intensive tests like tabletop testing might need to be carried out on weekends to ensure you don’t compromise your work schedule.

What Else Should I Consider?

The essential part of any testing is documentation. Record your testing, with particular emphasis on anything actionable. You also need to follow up on these actions for the testing to be worth doing at all.

If you’ve made any significant changes to your business (like moving premises or changing the size of your workforce), make sure you increase the frequency of your testing—at least in the short term. These major shifts can have a dramatic impact on what your continuity plan looks like. 

Make sure you tell your wider workforce about your plan and encourage people to take part where necessary. This could shed light on new, valuable ideas, such as wiping sensitive files from your hard drives. 

By treating your Business Continuity Plan as an organic element (such as one that is open to revision and evolution), you’ll do an excellent job of keeping your business safe in the future.

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Grace Lau

Director of Growth Content

Grace Lau is the Director of Growth Content at Dialpad, an AI-powered cloud communication platform for better and easier team collaboration. She has over 10 years of experience in content writing and strategy. Currently, she is responsible for leading branded and editorial content strategies, partnering with SEO and Ops teams to build and nurture content. Here is her LinkedIn.

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Fintech Kennek raises $12.5M seed round to digitize lending

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Google eyed for $2 billion Anthropic deal after major Amazon play


London-based fintech startup Kennek has raised $12.5 million in seed funding to expand its lending operating system.

According to an Oct. 10 tech.eu report, the round was led by HV Capital and included participation from Dutch Founders Fund, AlbionVC, FFVC, Plug & Play Ventures, and Syndicate One. Kennek offers software-as-a-service tools to help non-bank lenders streamline their operations using open banking, open finance, and payments.

The platform aims to automate time-consuming manual tasks and consolidate fragmented data to simplify lending. Xavier De Pauw, founder of Kennek said:

“Until kennek, lenders had to devote countless hours to menial operational tasks and deal with jumbled and hard-coded data – which makes every other part of lending a headache. As former lenders ourselves, we lived and breathed these frustrations, and built kennek to make them a thing of the past.”

The company said the latest funding round was oversubscribed and closed quickly despite the challenging fundraising environment. The new capital will be used to expand Kennek’s engineering team and strengthen its market position in the UK while exploring expansion into other European markets. Barbod Namini, Partner at lead investor HV Capital, commented on the investment:

“Kennek has developed an ambitious and genuinely unique proposition which we think can be the foundation of the entire alternative lending space. […] It is a complicated market and a solution that brings together all information and stakeholders onto a single platform is highly compelling for both lenders & the ecosystem as a whole.”

The fintech lending space has grown rapidly in recent years, but many lenders still rely on legacy systems and manual processes that limit efficiency and scalability. Kennek aims to leverage open banking and data integration to provide lenders with a more streamlined, automated lending experience.

The seed funding will allow the London-based startup to continue developing its platform and expanding its team to meet demand from non-bank lenders looking to digitize operations. Kennek’s focus on the UK and Europe also comes amid rising adoption of open banking and open finance in the regions.

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Radek Zielinski

Radek Zielinski is an experienced technology and financial journalist with a passion for cybersecurity and futurology.

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Fortune 500’s race for generative AI breakthroughs

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Deanna Ritchie


As excitement around generative AI grows, Fortune 500 companies, including Goldman Sachs, are carefully examining the possible applications of this technology. A recent survey of U.S. executives indicated that 60% believe generative AI will substantially impact their businesses in the long term. However, they anticipate a one to two-year timeframe before implementing their initial solutions. This optimism stems from the potential of generative AI to revolutionize various aspects of businesses, from enhancing customer experiences to optimizing internal processes. In the short term, companies will likely focus on pilot projects and experimentation, gradually integrating generative AI into their operations as they witness its positive influence on efficiency and profitability.

Goldman Sachs’ Cautious Approach to Implementing Generative AI

In a recent interview, Goldman Sachs CIO Marco Argenti revealed that the firm has not yet implemented any generative AI use cases. Instead, the company focuses on experimentation and setting high standards before adopting the technology. Argenti recognized the desire for outcomes in areas like developer and operational efficiency but emphasized ensuring precision before putting experimental AI use cases into production.

According to Argenti, striking the right balance between driving innovation and maintaining accuracy is crucial for successfully integrating generative AI within the firm. Goldman Sachs intends to continue exploring this emerging technology’s potential benefits and applications while diligently assessing risks to ensure it meets the company’s stringent quality standards.

One possible application for Goldman Sachs is in software development, where the company has observed a 20-40% productivity increase during its trials. The goal is for 1,000 developers to utilize generative AI tools by year’s end. However, Argenti emphasized that a well-defined expectation of return on investment is necessary before fully integrating generative AI into production.

To achieve this, the company plans to implement a systematic and strategic approach to adopting generative AI, ensuring that it complements and enhances the skills of its developers. Additionally, Goldman Sachs intends to evaluate the long-term impact of generative AI on their software development processes and the overall quality of the applications being developed.

Goldman Sachs’ approach to AI implementation goes beyond merely executing models. The firm has created a platform encompassing technical, legal, and compliance assessments to filter out improper content and keep track of all interactions. This comprehensive system ensures seamless integration of artificial intelligence in operations while adhering to regulatory standards and maintaining client confidentiality. Moreover, the platform continuously improves and adapts its algorithms, allowing Goldman Sachs to stay at the forefront of technology and offer its clients the most efficient and secure services.

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Deanna Ritchie

Managing Editor at ReadWrite

Deanna is the Managing Editor at ReadWrite. Previously she worked as the Editor in Chief for Startup Grind and has over 20+ years of experience in content management and content development.

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UK seizes web3 opportunity simplifying crypto regulations

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Deanna Ritchie


As Web3 companies increasingly consider leaving the United States due to regulatory ambiguity, the United Kingdom must simplify its cryptocurrency regulations to attract these businesses. The conservative think tank Policy Exchange recently released a report detailing ten suggestions for improving Web3 regulation in the country. Among the recommendations are reducing liability for token holders in decentralized autonomous organizations (DAOs) and encouraging the Financial Conduct Authority (FCA) to adopt alternative Know Your Customer (KYC) methodologies, such as digital identities and blockchain analytics tools. These suggestions aim to position the UK as a hub for Web3 innovation and attract blockchain-based businesses looking for a more conducive regulatory environment.

Streamlining Cryptocurrency Regulations for Innovation

To make it easier for emerging Web3 companies to navigate existing legal frameworks and contribute to the UK’s digital economy growth, the government must streamline cryptocurrency regulations and adopt forward-looking approaches. By making the regulatory landscape clear and straightforward, the UK can create an environment that fosters innovation, growth, and competitiveness in the global fintech industry.

The Policy Exchange report also recommends not weakening self-hosted wallets or treating proof-of-stake (PoS) services as financial services. This approach aims to protect the fundamental principles of decentralization and user autonomy while strongly emphasizing security and regulatory compliance. By doing so, the UK can nurture an environment that encourages innovation and the continued growth of blockchain technology.

Despite recent strict measures by UK authorities, such as His Majesty’s Treasury and the FCA, toward the digital assets sector, the proposed changes in the Policy Exchange report strive to make the UK a more attractive location for Web3 enterprises. By adopting these suggestions, the UK can demonstrate its commitment to fostering innovation in the rapidly evolving blockchain and cryptocurrency industries while ensuring a robust and transparent regulatory environment.

The ongoing uncertainty surrounding cryptocurrency regulations in various countries has prompted Web3 companies to explore alternative jurisdictions with more precise legal frameworks. As the United States grapples with regulatory ambiguity, the United Kingdom can position itself as a hub for Web3 innovation by simplifying and streamlining its cryptocurrency regulations.

Featured Image Credit: Photo by Jonathan Borba; Pexels; Thank you!

Deanna Ritchie

Managing Editor at ReadWrite

Deanna is the Managing Editor at ReadWrite. Previously she worked as the Editor in Chief for Startup Grind and has over 20+ years of experience in content management and content development.

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