SBF's newly launched National Business Continuity Management (BCM) online Resource Library helps enterprises raise their level of preparedness
Singapore, Wednesday, 6 October 2010 - Singapore Business Federation (SBF) CEO Mr. Teng Theng Dar today announced the launch of the National Business Continuity Management (BCM) online Resource Library at the Risk Management CxO Briefing, a partner event of the Global Entrepolis@Singapore (GES) Summit 2010. The initiative aims to boost companies' knowledge on how to evaluate their vulnerabilities and safeguard against potential risks which may hamper their business operations.
In his welcome remarks, Mr. Teng Theng Dar said, "As the apex business chamber and National Business Continuity Management focal point for businesses, SBF is tasked with ensuring that businesses are aware of the risks that threaten their operation and survival. I am proud to announce that SBF is launching the National BCM online resource library and the BCM self-assessment tool today."
National BCM Online Resource Library (www.bcm.org.sg)
The National BCM online resource library consists of a one-stop information portal featuring the latest BCM resource updates, training programmes and events for companies as well as the BCM self-assessment tool. The information resources from this portal will further assist Singapore companies, which can apply for the $30 million National BCM Programme funding (for more information on National BCM Programme, please refer to Annex). The National BCM online resource library would be particularly useful to SMEs which have less access to such information and the financial resources to do so. Companies can access BCM user guides, templates and fact sheets to ease their adoption of BCM.
One key feature is the BCM Diagnostic Tool, a self-assessment tool that is a user-friendly platform for our businesses to self-evaluate their risk profiles in a completely confidential environment (for more information, please refer to the powerpoint slides on the BCM Diagnostic Tool). Designed with non-technical language, enterprises can utilize this assessment to gauge how close they are in scoring well for the Singapore Standard 540 (SS540) certification and whether there is a strong resilience framework being implemented within the organization. In addition, the online assessment is able to return a diagnosis on an enterprise's current risk gaps and suggest areas for improvement.
At the end of the assessment, users will likely benefit from the process which highlights critical areas that may affect their business operations, and provide recommended tips for improvement and implementation, thus trigger subsequent investigation into adopting Business Continuity measures. The assessment also includes a graphic representation to further illustrate the area of focus in order to improve the organisation's business resilience.
The BCM SS540 is in essence, a holistic management process which helps an enterprise to assess, plan and strengthen the resilience of its value chain. Increasingly, we are seeing enterprises wanting their business partners to have resilience so as to ensure their businesses are being protected from unnecessary disruption. The aim is to safeguard value-creating activities, the reputation of businesses as well as interests of stakeholders.
SS540:2008 certified enterprises will be featured as case studies in the National BCM online resource library to recognize enterprises' commitment to safeguarding their businesses and upholding Singapore's long-standing reputation as a trusted business hub. Enterprises interested in embarking on the BCM journey can also find guidance by referring to the experiences shared by the respective industrial pioneers of SS540:2008.