Corporate life has become increasingly disrupted by critical events. According to a Forrester report, all companies experienced a critical event over the past two years, many had at least four individual critical incidents.
Among many events of 2020 is the spread of COVID-19 to cyberattacks targeted towards companies that has a significant impact on the company. According to a United Nations study, the economic impact of COVID-19 adds to the 489 billion dollars that have been lost each year as a result of natural disasters, cyberattacks, workplace violence, and terrorism.
What is a Critical Event Management Platform?
The critical event management platform uses AI to respond quickly to disruptive events within the business. It helps you identify and assess risks, locate key personnel and assets, reduce response time, optimize crisis communications, and analyze response performance.
CEM enables companies to,
- To have a clear understanding of threats
- Reduce response time
- Reduce resumption costs
- Ensure a common understanding of operational processes
Despite the lingering impacts of critical events, companies must prepare for the immediate and long-term consequences of such events. CEM (Critical Event Management) platforms can help you better prepare for critical events. Here are four reasons why you should consider implementing a Critical Event Management platform to strengthen your company’s security.
Critical Events are Increasing
With companies having to deal with an average of four critical events over 2 years, not having real-time responses can cause a loss of revenue, productivity, and reputation damage. Critical Event management platforms can automate responses and help the incident response team perform better. As organizations become more complex and stakeholder expectations of ethical behavior increase, thus, businesses must develop a plan to identify these risks and act faster to minimize the consequences.
Maintain Business Continuity
With the number of critical events occurring every year on the rise, the inability to maintain business continuity during a crisis could be a big obstacle. A company is estimated to lose an average of $350,000 for each critical event it endures, which includes losses associated with business interruptions, IT downtime, property damage losses, and lost productivity.
Critical Event Management platforms help organizations prepare for both unexpected and anticipated events, such as a cyberattack or civil unrest. Your team can seamlessly function in remote locations and resolve responses with the CRM platform with connectivity. As a result, they can better maintain operations and potentially save millions of dollars during uncertain times.
Safeguard your Employees Data
If you like to provide your employees and response team-high level of security and have trust issues with other communication tools in the market, the Critical Event Management platform is the ideal solution.
CEM platform enables companies to track meetings, assign responsibilities to employees, and measure the productivity factors, wherever they may be. Whether traveling abroad or working from home, critical events can put the health and safety of employees at risk. To prevent potentially life-threatening situations, a dedicated platform can be utilized to decide the severity and relevance of each critical event.
Having access to dynamic location updates via travel itineraries and badge location data allows organizations to know where their people are at all times. Companies will be able to confidently communicate with only those directly impacted during critical events, eliminating white noise and message fatigue. Organizations that use CEM platforms can alert the right individuals at the right time with the right information based on the priority of the incident.
Quick and Efficient Responses
With a CEM platform, your incident response team can monitor and respond to events more effectively. By doing so, companies can manage risk better and limit the adverse impact of a critical event. CEM platforms can be used by companies with a solid internal security team for an integrated approach to identify, assess, and enforce pre-defined procedures in real-time.
If there is no GSOC or no resources to monitor incidents 24/7, a CEM as a Service (CEMaaS) can provide powerful threat intelligence, mass notification, and location tracking capabilities without heavy investments in technology or human resources. Additionally, post-event analytics allow companies to track KPIs like response times, geographic locations, and how long an event lasted to better prepare for the future.
A crisis may occur in one line of business, but they rarely persist. There is the rapid spread of the damage. To anticipate and respond to potential critical threats, companies invest heavily in advanced technologies.
With Zapoj’s Critical management platform, you can measure your organization’s ability to respond and resolve a critical event. As part of the incident management platform, employees (working remotely) are more productive, but also contribute to critical event preparedness efforts, which are based on building a full picture of all threats across the organization.
Want to integrate critical management into your security strategies or learn more about incident response automation with Zapoj, feel free to request a demo.