4 Reasons Why Companies Should Consider Integrating a Critical Event Management Platform
By Northland Controls, Feb 16, 2021
Whether it’s preparing for severe weather or finding out an employee is traveling near a COVID-19 hotspot, a critical event can have significant consequences for a company.
Classified as anything that can disrupt the safety, security, or operations of your business, these often-unforeseen risks pose a credible threat to employees, business continuity, and clients. In 2020 alone, we saw the spread of COVID-19, wildfires in Australia, mass protests in the United States, and a slew of cyberattacks targeting companies like Zoom, Twitter, and the World Health Organization. As the number of critical events continues to rise, companies need to prepare for the immediate and lingering effects that they can have on daily operations. One way to be better prepared is through a Critical Event Management (CEM) platform. Here are four reasons why you should consider implementing CEM into your security plans.
Critical events are increasing, and companies need to be prepared to deal with them.
According to McKinsey, headlines with the word “crisis” and the name of a Forbes’ top 100 company appeared 80% more often between 2010 and 2017 than in the decade before. With companies dealing with an average of four discrete critical events over a 24-month period, the inability to address these events in real-time can lead to loss of revenue, loss of productivity, and potential damage to reputation. The growing complexity of organizations coupled with an increase in stakeholder’s expectation for ethical behavior means that now, more than ever, companies need to have a plan to address these risks head on.
Provide a heightened level of care for employees around the world.
With a CEM platform, companies can ensure they are meeting and exceeding their duty of care responsibilities to employees, no matter where they are in the world. A critical event can put the health and safety of employees at risk whether they are traveling abroad or working in their home office. With employee safety serving as a top priority when managing critical events, a dedicated platform can help determine the severity and relevance of each situation to advert potentially life-threatening consequences.
Dynamic location updates via travel tineraries and badge location data allow organizations to know where their people are (or where they are going) at any given moment. When a critical event occurs, this feature will allow companies to confidently communicate with only those that are directly impacted, eliminating white noise and message fatigue. A CEM platform helps organizations alert the right people at the right time for the right reasons.
Maintain business continuity during times of uncertainty.
As the number of critical events happening each year continues to rise, the inability to maintain business continuity during a crisis could have a hefty price tag. With each critical event a company endures, it is estimated that they will lose an average of $350,000. Just a few examples of these expenses include losses from business interruptions, costs related to IT downtime, property damage losses, and costs associated with diminished employee productivity. By integrating a CEM platform into your security program, companies can better prepare for both unexpected events, like a cyberattack or civil unrest, and anticipated events, like severe weather. In doing so, they will be better prepared to maintain business operations in times of uncertainty, potentially saving millions.
Give Security Teams the Ability to React to Events More Quickly and Efficiently
Overall, a CEM platform can give your security team the confidence to monitor and respond to events as quickly and efficiently as possible. Companies who do can better manage risk and limit the impact of a critical event on their key stakeholders. For those with a robust in-house security team, a CEM platform can provide an integrated approach to identifying and assessing the severity of events to rapidly enforce pre-defined standard operating procedures. Alternatively, for companies that do not have a GSOC nor the resources to monitor threats and incidents 24/7, a managed service such as Northland’s CEM as a Service (CEMaaS) can deliver powerful threat intelligence, mass notification, location tracking, and response capabilities without a heavy investment in technology or personnel. Moreover, post-event analytics allow companies to track important KPIs such as how long an event lasted, response times, and geographical locations to better prepare for the future.
Want to see how your company would stack up against these risks? Click here to take a survey provided by our CEM partner, Everbridge, that will measure your organization’s ability to respond to and resolve a critical event.
Learn more about how companies are leveraging CEM technology to better assess and respond to critical events here.
If you are considering integrating critical event management into your security strategy or want to learn more about Northland’s CEMaaS, reach out to our team at firstname.lastname@example.org.