BCMMETRICS has a conversation with its CEO and Founder Michael Herrera on the state of Business Continuity Management (BCM) compliance and how using a Governance Risk and Control tool like BCMMETRICSTM can heighten the sophistication and maturity of a program through intelligent measurement.
BCMMETRICS: What is the state of compliance of BCM programs in the public and private sector organizations based on your industry experience?
Michael Herrera: The state of BCM compliance is a mixed bag; there are pockets of compliance in the highly regulated industries (Banking, Finance, etc.) but overall I would say its not where it needs to be. The BCM industry is still relatively young and we are still maturing.
BCMMETRICS: Does an organization have to have above average scores in all areas of their BCM program to be successful?
Michael Herrera: No, you do not have to be perfect in all areas of compliance to have a solid BCM program. Using the athlete analogy, even the world’s top athletes have weaknesses that need improvement. However, they are good at the right things that make them successful. And so goes it with BCM programs, be good at the right things; those that make the highest contribution to your program.
BCMMETRICS: What makes the BCMMETRICSTM tool different than what is available in our industry today?
Michael Herrera: Well, first, I will say its cloud based, secure and easy to administer. Secondly, it assesses your program against the top BCM standards using questions weighted based on importance and scored on level of compliance. Third, the reporting component provides management and auditors with the data to easily and quickly identify the successes and opportunities for improvement is in the program. Lastly, the price of an annual subscription is much, much less than having a consultant come in and evaluate your program that can cost at least $25 to $30k or more.
BCMMETRICS: We understand that a great feature of BCMMETRICSTM tool is it can be used to manage your critical customer or supplier BCM compliance.
Michael Herrera: Yes, the tool can be used to assess the BCM compliance of your critical suppliers or customers. You can provide them with a login and permit them to complete the assessment or you send them the questions.
BCMMETRICS: We hear that by the-end of 2014 that BCMMETRICSTM will have the capability to compare the level of your program against industries in real time?
Michael Herrera: Yes, the tool has the capability now but we are accumulating data and once it’s a representative sample, we will offer the real time comparison feature to our subscribers.
BCMMETRICS: Do BCM Practitioners fear benchmarking their programs against industry best practices and standards?
Michael Herrera: Yes, many do fear the unknown and are fearful of the scores and gaps the tool identifies. It’s a health check and like myself, nobody likes going to the doctor in fear of hearing what you don’t want to hear. But if you don’t know what’s wrong, you can get better. It’s that simple.
BCMMETRICS: Thank you for your time. Do you have any final words on BCM compliance to industry practitioners?
Michael Herrera: Yes, do not fear the unknown; benchmark your program against standards and see where you stand. Develop a roadmap for improvement over time. As the saying goes, “It doesn’t matter what you road you take, if you don’t know where you are going”.