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January 16, 2006

Banks set pace on business continuity

European retailers are behind the curve when it comes to securing their IT infrastructure, a new survey has just revealed. Although increasingly reliant on online systems for supply chain replenishment, logistics, and transaction-processing, only 84% of retailers polled compared to 97% of all banks, were said to be confident that their IT infrastructure was housed in a resilient, fit-for-purpose environment.

By CBR Staff Writer

The research commissioned by Global Switch concluded that banks are ahead of other industries in attitudes to aspects of business continuity. Some 93% of the banks surveyed said they allocated budget to prepare and maintain the physical environment in which their IT infrastructure is located, compared with only 68% of retailers.

Benefits do accrue from business continuity planning, including high availability of systems, good disaster-recovery procedures, and better backup systems. These all help mitigate against unplanned outages. In addition, Sarbanes-Oxley and other compliance regulations have increased the data- and record-retention requirements for many business sectors, although this is having an impact on business continuity assurances in some sectors more than others.

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