Managed Continuity Technology
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The Market

A number of key drivers are now causing the Business Continuity market to rapidly grow. September 11th and the  major power shutdowns in the US and UK reinforced the lesson that organisations should be prepared for disaster on any scale and that their plans should be flexible enough to deal with all types of scenarios even several happening concurrently. At the same time all of the major insurers have made visible and positive moves into marrying together risk management, business continuity and disaster recovery. Many insurers insist that a company must have a Business Continuity Plan before cover can be provided (Internal AON Publication - Dimensions - August 2003, states "…many AON customers are now finding that renewal of their insurance is dependent on satisfying insurers that they do have a [business continuity] plan in place…".) But this activity exists in a market place that remains starved of accessible solutions. The current market size for Business Continuity and Information Security soft are solutions is estimated at US$66 billion and will grow to US$170 billion by 2006 (IDC Report, 28th October 2002)

Research from the Chartered Management Institute (March 2002) shows that business continuity must now go beyond planning for the loss of IT capability and buildings. The proportion of companies experiencing loss of skills has increased from 1% in 1999 to 33% in 2002 ('Marsh Plc' Topic Letter X11 - March 2002), while the World Trade Centre disaster highlighted the importance of protecting the human resource function of an organisation and of ensuring the maintenance of staff communications - a central part of a recovery strategy.

The events of September 11th 2001 highlighted the size of the problems and the costs to businesses of failing to have sufficient recovery and contingency plans in place. One study calculated that the cost of business interruption was the largest single area (some 25%) of insurance claims within the total losses of around $70 billion*, (Pricewatehouse Coopers- Insurance Claims Services Report, February 2002 "The Terrorist Attacks of September 11th 2001: Impacts and Implications for the Insurance Industry" Hartwig, Robert P - Ph.D - Insurance Information Institute).

The Combined Code (on corporate governance) requires companies to maintain a sound system of internal control to safeguard shareholders' investment and company assets. The Stock Exchange Listing Rules requires companies to report on how this principle has been applied. The 1999 Turnbull Report spelt out in detail how companies should comply with the principle. In effect the guidance in the report is mandatory for listed companies and is accepted as good practice by many other organisations.

Meanwhile, data volumes continue to grow and organisations of all sizes are looking for solutions to the critical problems of data management and storage. The greater circulation of data, increased regulation, and the use of more media-rich applications are obliging companies to continue to invest heavily in data storage capacity so that they can ensure business continuity.