Skip to content
English - United Kingdom
Verv Portal
  • There are no suggestions because the search field is empty.

Business Continuity Plan

Our Business Continuity Plan provides an understanding of our contingency measures for clients.

1. Introduction

1.1 Purpose

The purpose of this Business Continuity Plan (BCP) is to prepare Verv Energy, a hardware and software company, to continue its essential functions across a wide range of potential emergencies, including natural disasters, technology failures, human error, and other disruptions. This plan outlines the steps Verv will take to ensure the safety of its employees, the security of its assets, and the continuity of its operations.

1.2 Scope

This BCP covers all aspects of Verv's operations, including the development, production, and support of its patented smart AI isolators, PCB boards, machine learning algorithms, and software applications. It encompasses all departments and functions within the company.

1.3 Objectives

  • Ensure the safety of all employees during and after a disruption.
  • Minimise the impact of disruptions on operations and ensure timely recovery.
  • Maintain communication with stakeholders during and after a disruption.
  • Protect the company's physical and intellectual assets.
  • Ensure compliance with legal and regulatory requirements.

2. Business Impact Analysis

2.1 Critical Business Functions

  • Product Development: Design and development of smart AI isolators, PCB boards and software algorithms.
  • Production: Manufacturing of smart AI isolators and PCB boards.
  • Quality Assurance: Testing and validation of hardware and software.
  • Customer Support: Providing support and maintenance for existing products.
  • Sales and Marketing: Activities related to selling products and acquiring new customers.
  • IT Infrastructure: Maintenance of servers, networks, and data storage.

2.2 Impact Assessment

  • Product Development Delay: Delays in product development can lead to missed market opportunities and customer dissatisfaction.
  • Production Halt: Interruptions in production can result in supply shortages and revenue loss.
  • Quality Assurance Disruption: Compromised quality assurance can lead to faulty products reaching customers.
  • Customer Support Interruption: Poor support can damage customer relationships and lead to loss of business.
  • Sales and Marketing Disruption: Delays in sales and marketing efforts can affect revenue growth.
  • IT Infrastructure Failure: IT outages can disrupt all business operations and lead to data loss.

3. Risk Assessment

3.1 Potential Risks

  • Natural Disasters: Earthquakes, floods, fires.
  • Technology Failures: Hardware malfunctions, software bugs, cyberattacks.
  • Human Errors: Mistakes in production, incorrect data entry, poor decision-making.
  • Supply Chain Disruptions: Shortages of raw materials, transportation issues.
  • Regulatory Changes: New compliance requirements, legal challenges.

3.2 Risk Mitigation Strategies

  • Natural Disasters: Implement robust physical security measures, establish emergency evacuation plans, and secure backup facilities.
  • Technology Failures: Regularly update software, conduct frequent system backups, employ cybersecurity measures.
  • Human Errors: Provide thorough training, implement double-check systems, foster a culture of accountability.
  • Supply Chain Disruptions: Diversify suppliers, maintain adequate inventory levels, develop alternative transportation routes.
  • Regulatory Changes: Stay informed about legal developments, engage with legal counsel, adapt business practices as needed.

4. Recovery Strategies

4.1 Immediate Response

  • Activation: Activate the BCP upon identifying a disruption.
  • Communication: Notify all employees, stakeholders, and relevant authorities.
  • Safety: Ensure the safety of all personnel.
  • Damage Assessment: Assess the extent of damage and impact on operations.

4.2 Short-Term Recovery

  • IT Recovery: Restore critical IT systems and data from backups.
  • Temporary Facilities: Set up temporary workspaces if needed.
  • Supply Chain Coordination: Communicate with suppliers to manage supply chain disruptions.
  • Customer Communication: Inform customers about the disruption and expected recovery times.

4.3 Long-Term Recovery

  • Full Restoration: Return to normal operations as quickly as possible.
  • Process Improvement: Analyse the disruption and response to improve future resilience.
  • Financial Recovery: Manage financial impacts and seek insurance claims if applicable.
  • Review and Update BCP: Review the effectiveness of the BCP and make necessary updates.

5. Roles and Responsibilities

5.1 BCP Team

  • BCP Coordinator: Oversees the development, implementation, and maintenance of the BCP.
  • Department Heads: Ensure department-specific plans align with the overall BCP.
  • IT Manager: Manages IT-related continuity and recovery efforts.
  • HR Manager: Ensures employee safety and manages internal communications.
  • Communications Manager: Handles external communications with stakeholders and customers.

6. Communication Plan

6.1 Internal Communication

  • Emergency Notifications: Use email, SMS, and internal communication platforms to notify employees.
  • Status Updates: Provide regular updates on the status of the disruption and recovery efforts.
  • Support Channels: Maintain open channels for employees to ask questions and seek support.

6.2 External Communication

  • Customer Updates: Inform customers about how the disruption affects them and provide updates on recovery.
  • Stakeholder Briefings: Regularly update investors, partners, and other stakeholders.
  • Media Relations: Manage communication with the media to maintain the company’s reputation.

7. Training and Testing

7.1 Employee Training

  • Conduct regular training sessions for all employees on the BCP.
  • Hold drills and simulations to ensure readiness.

7.2 Plan Testing

  • Perform regular testing of the BCP to identify weaknesses and areas for improvement.
  • Update the BCP based on test results and feedback.

8. Plan Maintenance

8.1 Regular Reviews

  • Review the BCP at least annually and after any major changes in the company’s operations or structure.
  • Update the BCP to reflect new risks, technologies, and best practices.

8.2 Continuous Improvement

  • Encourage feedback from employees on the BCP.
  • Monitor industry trends and update the BCP accordingly.

9. Conclusion

Verv's Business Continuity Plan is a living document designed to ensure the company's resilience in the face of disruptions. By following the guidelines and strategies outlined in this plan, Verv can safeguard its employees, protect its assets, and maintain its operations, thereby securing its future growth and success.