Best Business Continuity Managment Software of 2024: Top 10 Solutions for Resilience

Do you have disaster recovery plans in place in the event of a crisis? Has your organization adopted any business continuity solutions or disaster recovery solutions yet?

Did you know that even a single hour of downtime can cost organizations over $1 million, as per a report from ITIC? Also, the average downtime for ransomware attacks is 22 days, as per a report from Statista. You can get a drift of the losses, considering costs quickly add up.

In this interconnected digital world, business continuity planning is the bread and butter of organizations to ensure the survival of your business. Organizations are increasingly turning to business continuity management software to take out all of the guesswork associated with manual planning while saving time and effort in creating and implementing continuity plans.

In this article, we will review the 10 best business continuity software with business continuity and enterprise risk management solutions and what to look for in BCM software.

What is Business Continuity Management software?

A business continuity application is software used to create, implement, or manage an organization’s business continuity plan while maintaining its operations during a crisis or any other unexpected disruption.

Business continuity application software generally is segmented in two categories.
1)  Applications that help a business analyze its risks in various crisis scenarios and then build a business continuity plan (BCP) to minimize operational disruptions.
2) Applications that a businesses use to implement various aspects of its BCP and manage its operations during a crisis. 

In either case, these software are part of an organization’s overall strategy for ensuring operational continuity as well as resilience in the face of unwanted or unexpected risks to its mission. 

Disruptions happen. Be prepared with our Business Continuity Plan Template. This step-by-step guide ensures you have a clear plan to maintain critical operations during unexpected events.

Best business continuity management software in 2024

Business continuity management software aids organizations in conducting business impact analysis, identifying risks, implementing policies and procedures, and improving overall organizational resilience to minimize the impact of possible disruption.

We have identified the following best business continuity management software in 2024:

Sprinto

Sprinto is a powerful yet user-friendly compliance software that seamlessly integrates with your cloud setup to consolidate risk, run fully automated checks, and map entity-level controls – all from a single dashboard. 

Sprinto offers holistic security compliance for your organization in line with various compliance laws and regulations. It strengthens your cybersecurity posture, fulfils federal compliance requirements, and mitigates disruptions to ensure business continuity management– all in real-time, all on its own. 

Sprinto’s vulnerability and incident management capabilities help manage, as well as document, security vulnerabilities and incidents towards business continuity management with prompt remediation actions to produce proof of corrective measures in a way that is aligned with audits. Besides incident management, Sprinto goes the extra mile to trigger escalations accompanied by active delegation of compliance tasks. 

The platform automatically sends alerts that clarifies the area of concern, the nature of the risk, and the criticality of the check. Once the escalation has been rectified, the platform automatically records the evidence and catalogues the effort in an audit-friendly manner.

A Leader in Security Compliance categories for four consecutive quarters as per G2, Sprinto topped the charts in G2’s Spring 2023 across 8 different categories as well. As per reviews from thousands of its trusted customers, Sprinto offers invaluable user-friendly experience and guidance every step of the way.

Features:

• Continuous control monitoring– Real-time monitoring of security controls – right down to the entity level and at scale.

• Shareable security posture– Create a comprehensive account of your security measures, compliances, and policies to win the trust of your stakeholders.

• Vulnerability & Incident Management-Manage and document vulnerabilities as well as security incidents.

• Role-based access control– Define as well as segregate duties to proactively secure the operating environment.

• Modular security training programs– Choose from any of the security awareness training modules tailored for different compliances.

• Systematic escalations– In a clear order of priority, divide tasks across team members to ensure smooth remediation while maintaining the status quo.

• 100% async audit– Connect as well as coordinate with an auditor directly from your Sprinto dashboard.

• Automation-led compliance– Framework-specific policy templates, workflows, and training modules for various compliances.

• Widest compliance coverage– Supports the most number of security compliances framework as compared to any other software in the market. 

• Maximum integrations-Compatible with most cloud services and brings down barriers to mapping controls.

• Expert-led implementation-Experts at Sprinto guide you through every step of the compliance journey.

Pros	Continuous control monitoring to keep tabs on security controls Shareable security posture Vulnerability & Incident Management Integrated audit success portal Systematic escalations Modular security training programs Dr. Sprinto MDM Expert-led implementation 100% async audit Tiered remediation Maximum integrations
Cons	Time zones are an issue for a few clients for contacting customer support.
Pricing	Contact Sprinto for more details

Oracle Risk Management Cloud

Oracle Risk Management Cloud is primarily focused on the cyberattack and fraud prevention aspects of business continuity instead of disaster recovery. It makes organizations more resilient by tracking user activity with artificial intelligence (AI) and integrating it with Oracle ERP to block any suspicious behaviours. Assigning user permissions is easier with prebuilt security rules while keeping all sensitive information in a central location. 

Key Features	Automated monitoring and workflows Prebuilt security rulesAudit management Separation of duties reports Compliance tools Operational risk management
Pros	Faster solutions to potential risks Great for preventing fraud while monitoring transactions Automates role-based access as people change positions or leave the organization
Cons	Limited customizations available Customer support needs to be more responsive
Pricing	Pricing is not available on the website and is sold as part of the Oracle ERP.Contact the vendor for more details.

Also Check: 7 Top Third-party Risk Management Software in 2024

Castellan Solutions Software

Castellan Software combines a company’s operations into one platform with end-to-end planning for business continuity management. Castellan helps organizations recover from cyberattacks and natural disasters. 

It has a number of features, such as emergency notifications, operational resilience, disaster recovery, automation, business continuity, and compliance tools.

Key Features	Two-factor authentication and Single sign-on (SSO) Live reporting Risk assessments Automated program governance Impact analysis reports
Pros	Customizable dashboards and reports Robust reporting options Simple User-Interface Quick Technical assistance
Cons	Does not offer many customizations Issues with SSO on mobile reported by users
Pricing	Contact the vendor for more info

RecoveryPlanner’s RPX

RPX by RecoveryPlanner, a complete risk management system, it integrates business continuity, cybersecurity planning, incident response, vendor management, and more. It offers quick and easy installation while seamlessly integrating with existing programs.

Key Features	Business Continuity management Keep track of the data in a centralized location Multilingual interface and assistance Manage incident response tasks on the go with mobile applications Operational resilience and Risk assessment
Pros	Cyber Security Planning Emergency Response Customized programs for different businesses Disaster recovery and operational risk assessments
Cons	Glitches and bugs The mobile app has limited features
Pricing	Contact the vendor for more details

Fusion Framework System

Fusion Framework System enables organizations to map critical processes while gaining valuable risk insights to improve overall business continuity management. Businesses can also practice disaster scenarios, including communication, task assignment, and reporting to see how their plan would mitigate a real disaster. 

Key Features	Risk and impact assessments Customizable risk tolerances Third-party risk management What-if scenarios Visual process maps Plan evaluations
Pros	Intuitive and easy to use Flexible and robust reporting capabilities Active and helpful user community
Cons	Only have one owner with change access for records A limited number of user licenses are offered
Pricing	Contact the vendor for more details

SAI360

SAI360 ensures operational resiliency and aids in risk management and catastrophe planning during a disaster. To identify and mitigate any possible hazards, business continuity maps are also connected to the businesses’ risk management framework.

A mobile app that enables its users to handle pertinent chores and receive real-time notifications with a mass notification system to create awareness of the problem and progress. SAI360 also offers multilingual content.

Key Features	Automated workflows Customizable fields and forms Business impact assessment Process and risk mapping Mass notification system Multilingual content Compliance management
Pros	Accessible interface Disaster recovery Operational resilience Beneficial solution for configuration
Cons	Support can be unresponsive at times Long waiting time  Inaccuracies in the multilingual content
Pricing	Contact the vendor for more details.

LogicManager

An enterprise risk management (ERM) software, LogicManager aids organizations in tracking critical business processes while preparing for potential outages. Business impact analyses give organizations “what-if” scenarios that detail how their company would fare during an incident. 

The users can implement disaster simulations to practice and improve plans before the actual outage occurs. For better incident response, LogicManager helps businesses identify gaps and dependencies in their continuity plans. 

Key Features	Centralized review framework Automated testing Disaster simulations Prebuilt analysis templates Taxonomy for risk linking Impact analysis
Pros	Easy to deploy org-wide Good for reporting and tracking business risk Workflows are customizable to fulfil business requirements
Cons	For out-of-the-box usability, some users want more standard templates  Scope for a steep learning curve
Pricing	Contact the vendor for more details

NContracts

Ncontracts provides comprehensive solutions specifically to financial institutions to cover the whole risk lifecycle as well as address enterprise risk, business continuity risk, vendor risk, audit risk, compliance risk, and cybersecurity risk. Customers have the option of selecting modules for certain purposes or building a whole corporate risk management system. 

It helps you to create a detailed business continuity plan without any hiccups and is a great choice in business continuity software.

Key Features	Prebuilt modules Compliance Management Easy-to-use Customizations for different applications A great choice for the banking and finance industry
Pros	Accessible software Trained Staff Ability to integrate
Cons	Custom Report Writing Single Sign-on
Pricing	Contact vendors for more details; the free demo is available

BC In The Cloud

BC in the Cloud provides business continuity software alongside their managed services in order to aid businesses in creating as well as managing their disaster recovery and business continuity plans. The software provides cloud-based access, meaning it can be accessed from multiple locations across the world while ensuring minimum downtime, and BC in the Cloud handles all maintenance and updates.

Key Features	Vendor tracking Customizable dashboards and reports Mass communications Automated workflows Pre-defined templates and plans Drag-and-drop process builder
Pros	Customizable in both design and configuration The user interface is easy to use and intuitive Responsive customer support
Cons	Limited advanced reporting capabilities Compliacted to migrate code from test to production
Pricing	Two pricing tiers are available; contact the vendor for more details

Archer Business Resiliency

Organizations identify essential processes with Archer Business Resiliency to sustain normal business operations even in the event of a disaster. The platform enhances corporate owners’ awareness of the risks they face, making it easier for risk management teams to convince management that they are in need of resources and funding.

Organizations can identify which measures they need to take to prioritize issues, address problems, and assign work to the right team members by categorizing and documenting events as they happen. Automation speeds up the process of response times, plan execution, and testing.

Key Features	Third-party risk management Risk assessments Risk insightsScenario testing Impact analysis Automated disaster recovery
Pros	In-depth insights on risk assessments Powerful tools to leverage automation Specific information helpful for tracking Business impact analysis Organizations have complete control over their processes with adaptable workflows. In-depth reporting Customized features and options offer flexibility to adjust the platform
Cons	Substantial coding expertise is needed to make use of all the features Additional features come costly
Pricing	Contact Archer for pricing information.

How to select the right BCM software?

Each industry has a unique set of business requirements when it comes to selecting third-party tools (in this case: business continuity software). Despite the variation in needs from business to business, the primary purpose of business continuity software is to ensure a well-founded continuity plan is in place despite business disruptions. 

A BCP software should ideally have the following key features and capabilities:

• Risk management
• Risk assessments
• Business impact analysis tools
• Incident response capabilities
• Tests and exercises capabilities
• Incident management capabilities
• Centralized location
• Emergency notifications
• Mobile app deployment
• Well-defined business continuity strategies

To narrow down your options further and select the BCM software that would best cater to the requirements of your business, ask yourself the following questions:

• How safe is your data?
• Which functions and features should be considered?
• What is the company’s budget allocated to the software?
• Is the software user-friendly?
• Would the BCP software seamlessly integrate with your other existing system?

Research and compare software to make an informed decision. Choose a flexible package that aligns with the goals of your organization.

Put all your security needs on autopilot with Sprinto

Monitoring your entire organization and its systems, mitigating the effects of any disaster or breach, and having a business continuity plan to ensure survival is the need of the hour for any organization. As a business owner, managing all these aspects at once manually can be a tedious as well as time-consuming task. 

Don’t worry, we are here to help!

Sprinto automates all your security and compliance requirements while seamlessly integrating with your cloud setup to run fully-automated checks, consolidate risk, and map entity-level controls. A user-friendly yet powerful software, Sprinto helps you place security controls across your organization, get compliant across frameworks, and monitor your cybersecurity posture all in real-time, all from a single dashboard. Get in touch with our experts to learn more.

FAQs

What are the 3 key areas of business continuity management?

The 3 essential elements in a High-Functioning BCM Plan include:

• Crisis Management and Communication.
• Emergency Management and Response.
• Business Restoration and Operational Recovery.
• Testing as well as Updating are Crucial to BCM Plan Success.

What are the 4 pillars of business continuity?

The four pillars of a BCP are preparedness, assessment, response, and recovery.

What are the five steps in creating a business continuity plan?

The five steps to create a business continuity plan are:

Step 1: Get together a Business Continuity Management Team.

Step 2: In the event of a crisis, prioritize the safety of your employees.

Step 3: Assess the Risks to Your Company.

Step 4: Plan and Implement Recovery Strategies.

Step 5: Test and utilize feedback to improve.