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Action plan in a time of crisis

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4 minute read

The devastation of the Queensland and Victorian floods has left quite an impression on us all.

For some, the disasters were a personal reminder of how short life can be and how lucky they are to have what they have.

For others it was a reminder of how little is truly in our control and can be taken away from us in the blink of an eye.

From a practical standpoint, the floods have also alerted many business practitioners to the importance of disaster recovery plans.

As the stories of survival and recovery start to emerge, industry players are among those who have suffered.

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Australian Superannuation Funds of Australia chief executive Pauline Vamos said she had been contacted by a number of funds affected by the flood.

While each has a different story and a carries a varying level of damage from the floods, they have a common outcome - they each had a disaster recovery plan.

"The robustness of disaster recovery plans is vital," Vamos said.

"[The floods] have tested some, so you've got to have it in there. It's a bit like now we're at a stage of sophistication as an industry that your aim should be no matter what you should be in business 24/7 and that's the challenge.

"We would not accept a bank being out of business so certainly the banks have had to cope with through the flood process their ATMs not working. So you've got to ask yourself the questions, what is the consumer expectations in disaster?

"Most of us think that ATMs should be working and then it's a question that superannuation funds should ask themselves as well, is that reasonable?"

Speaking from personal experience, QSuper chief officer for member outcomes Helen Davis said she believed good preparation was the key to the quick recovery.

"Even though the evacuation from the CBD offices needed to be done quite quickly, we have disaster recovery plans in place for serious events like this. This was activated without delay and all member records remain safe and secure," Davis said.

"Our offsite disaster recovery centre outside the CBD was established quickly and there is a dedicated team onsite working hard to continue to provide our members with the best possible service." 

Do you agree that a disaster recovery plan is essential for businesses?

What is your experience in actioning your company's plan?