A 2002 Ernst & Young survey entitled "The
Fabric of Risk", shows that a significant number of Canadian
businesses cannot recover from a computer failure fast enough.
Sixty-five percent of those companies surveyed indicated that
it was critical for business continuity that systems be restored
within 24 hours of a disruption and admitted that they could
not accomplish this task. Overall, 36% of respondents could
not achieve the recovery time they identified as critical
to prevent a major business disruption.
While companies have embraced the Internet and are using
it and other systems technology to achieve efficiencies
through such means as supply chain management and Customer
Relationship Management (CRM) tools, not all business leaders
understand the new kinds of risk that interconnectedness
brings.
With 62% of businesses dependent on the Internet
for Web-based processes, and with 25% not having a plan in
place to deal with a disruption, the chances are high that
an event will occur.
It is hoped this study will alert Canadian business leaders
to the issues and encourage them to take steps to manage and
plan for their risk.
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