In the Midst of Crisis: AFP's Best Practices for Business Continuity Planning

1. In the Midst of Crisis:
AFP's Best Practices for Business Continuity Planning

2. Introduction
Business continuity planning (BCP): What did COVID-
19 change in BCP
Panel Discussion
BCP in practice
Discussion Agenda

3. Business continuity planning (BCP):
What did COVID-19 change in BCP

4. Current Crisis
BCP in hyper drive and extended
BCP Focus Areas
Traditional BCP
Strategy
• Understating the organization
o Prioritizing business impact areas and needs assessment
• Prepare & Design
o Very few companies were prepared to support an extended BCP
(months / not days)
• Test & Validate
o Maintaining business operations, upholding a consistent level of
security and protection, fraud and cybercrime
• Adapt & Improve
o Technology for long-term remote workforce
COVID-19 - BCP Strategy Impact
Understand
the
Organizatio
n
Prepare &
Design
Test &
Validate
Adapt &
Improve

5. Current Crisis
Key Focus Areas for Treasury & Finance BCP
Liquidity Risk Financial Risk Operational Risk

6. Panel Discussion

7. How did businesses adapt to changes in work processes?
• Collaboration tools?
• Access to needed tools?
• Staying updated?
• Understanding of established BCP?
• Travel policy changes?

8. How did businesses manage updating and testing technology?
• Unannounced BCP
events?
• Test all of the variables?
• Securing remote
access?

9. How did businesses secure liquidity?
• Sources?
• Impact of Government actions?
• Move customers to electronic payments?

10. How are businesses planning to return to the office?
• Wear PPE?
• Distance?
• Timing?

11. Key Takeaways

12. Key BCP Takeaways
Make sure employees who have to interact with people are equipped and trained
Employees working from home need to be adequately set up to do so
Establish a practice of constantly updating team members
Create a list of potential sources of liquidity
Monitor government actions
Adjust travel policy
Establish a plan for returning to the office
Host unannounced BCP events
Move customers to electronic payments where possible
Secure all devices and channels before employees begin working from home

13. Thank You!
Link to AFP BCP Content:
https://www.afponline.org/publications-data-tools/reports/guides/treasury-
in-practice/Detail/agile-business-continuity-keeping-operations-running-in-
unprecedented-times/