Importance of Critical Event Management Platform

by Paresh Bramhane
Importance of Critical Event Management Platform

Over the past few years, a lot has changed, Businesses are evolving rapidly. Following the pandemic, more employees are working from home which means more work is being performed through the web. Leaving room for a complex and unpredictable threat environment. 

Companies are now forced to have emergency preparedness strategies and business continuity planning updated to act proactively to the crisis. By providing better intelligence, you can assess risks at a faster pace and take action to prevent harm to your people or disruptions to your business operations.

The goal of proactive Critical Event Management is to prepare organizations for sudden, unpredictable business disruptions and prevent them from occurring. End-to-end CEM solutions provide real-time information about potential risks and threats, alerting the response team when any of the organization’s assets are at risk. 

By automating the response, organizations can reduce the mean time between failures, optimize crisis communications, and provide a common operating picture to all key stakeholders. These include executives, chief information officers, executive officers, managers, human resources, emergency managers, and security members. 

Some of the proactive CEM approaches include, Global aware risk intelligence, incident management, multi-channel alerting system, collaboration for remote teams, smart analytics, and threat correlation are some of the essential aspects of Critical Event Management software. However, utilizing CEM software enhances business resilience for organizations. 

Why do you need a CEM Platform?

CEM platform enables organizational resiliency. No matter how bad or how damaging a disruption might be, CEM ensures the company fulfills its brand promise. Today’s customers expect your business to be available 24 hours a day. 

Resilience is the key to meeting customer demands on time. CEM platform can help businesses implement a continuity plan, emergency communication plan as well as crisis management to execution. Critical event management software is proven to be efficient in the following use cases as it brings together the best reason to handle critical events for your business. CEM platform ensures the preparedness for,

  • Pandemics such as COVID-19
  • Cyber attacks and data breaches
  • Facility disruptions
  • Equipment or infrastructure failure
  • IT Incidents
  • Active shooter incidents
  • Supply chain disruptions
  • Natural disasters and many more

Critical Event Management: Who should use it?

Small and medium-sized businesses, large enterprises, organizations, healthcare facilities, schools, hospitals, and government agencies can utilize the CRM platform. Organizations of all sizes can benefit from a CEM platform to consolidate a broad range of operations services, including security planning and management, business continuity management, IT operations management, and crisis management across the entire organization. 

Four Components of CEM 

Intelligence

Proactively identify potential threats before they become critical. Utilizing provided risk intelligence and data feeds, as well as curated analytics, your organization can filter, and categorize risk events across your data sources, including weather, protests, social media, dark web, and hyperlocal safety events. Consequently, ensuring you make better decisions and avoid false positives by responding faster to threats.

Correlation

Dynamically correlate risk events with assets by combining static and anticipated locations with assets and people’s last known locations. The CEM can go one step further by considering time elements to determine who or what is affected by threats and reach them faster and more effectively.

Orchestration

Automated workflows guarantee that even if you and your team do not watch for threats, the system will work it out for you. During a crisis, communication and action plans can be automated and orchestrated to ensure that the right actions are taken according to the threat.

Analytics

Metrics are integrated throughout the CEM process which ensures the right actions are taken by the right people at the right time and to determine how effective actions are and how you can improve threat responses.

How to Execute Critical Event Management?

Build Partnerships with Leadership: Critical events may affect different areas of the business, and they may impact more than one. You need to build alliances between chief security officers (CSOs), chief information security officers (CISOs), and chief information officers (CIOs) to act fast forward. 

Bringing together experience, insights, and intelligence throughout the organization facilitates the understanding of an event’s root cause and ensures a rapid response that reduces the impact. 

Assess your sources of Information: Organize all of your risk information into one location to streamline your threat assessment process. Evaluate your organization’s risks and impacts in five key areas: People, Buildings, IT Systems, Supply Chain, and Brand/Reputation. 

Ensure that your data sources are vetted and verified so that there will be geo-targeted intelligence concerning weather, terrorism, and other possible disruptions. Using verified sources and analysis eliminates noise and enables you to generate the most meaningful information while eliminating false positives. 

Identify and Locate Critical Assets: Resilient Organizations will know exactly where employees, travelers, visitors, offices, manufacturing facilities, and other critical assets are. Having a clear understanding of how they are interconnected, as well as their dependencies, is essential. 

Organizations must also understand how much it will cost if these assets are affected by an event, in addition to knowing where these assets are and their interdependencies. Consider, for instance, the loss of a critical business application that results in thousands of dollars each minute. Calculating losses based on how many employees are to be impacted is critical.

Quantify and Analyze Risk: Effective approaches simplify the complexity of threats and risks and then quantify risk based on the threat, the threat’s nature, an organization’s overall vulnerability or exposure, the impact on assets and people, and consider the timeline, which is often dynamic. Especially when your employees are constantly on the move, considering geopolitical issues or events that are going to disrupt the supply chain, the organization won’t feel the impact in the near future.

The resiliency of your organization increases through robust workflow automation, real-time assessment, and threat detection in Critical Event Management. If you like to know more about integrating CEM, get in touch with our experts today! 

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