How to prevail when technology fails - Flipbook - Page 14
14 | How to prevail when technology fails
Fig 8 Tech failure crisis-management playbooks lack vital information
Information on the circumstances in which our in-house legal team should be informed
56%
Escalation procedures that outline when senior management should be informed and consulted
46%
The details of regulators that may need to be informed in each jurisdiction the business operates in
42%
Information on the circumstances in which regulators should be informed
37%
None of the above
11%
Q. Which of the following does your crisis-management playbook include?
The survey data also reveals that companies
in certain sectors are much more likely to have
developed a technology failure crisis-management
playbook: 84% of technology and telecoms
companies and 72% of financial services and
insurance businesses have such a document,
compared with fewer than six in 10 companies in
the energy and natural resources, industrials, and
consumer sectors.
The risk that a regulatory investigation or litigation
may follow the failure of key technology is growing.
It is therefore vital that senior management and
the board implement the measures necessary to
protect the business, and prepare their teams.
By identifying business-critical technology
and developing comprehensive crisis-response
playbooks, you can prepare the business to
act decisively and build resilience to ensure
business continuity.
Fig 9 Technology and telecoms companies are most likely to have a technology failure
crisis-management playbook
84%
Technology and telecoms
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Financial services and insurance
72%
Automotive
72%
Life sciences
61%
Energy and natural resources
58%
Diversified industrials
57%
Consumer
55%
Q. Does your business have a technology failure crisis-management playbook or other such document that guides how you should respond to such an event?