Tag Archives: business disruption

Innovation: a Need for ‘Patient Urgency’

In corporate innovation, little else matters if your timing is wrong.

Moving too fast killed Ron Johnson’s attempts to turn around J.C. Penney. Johnson plunged too quickly into a wholesale remake of the century-old chain’s stores. He didn’t take time to test alternative possibilities—even though, as the developer of the Apple stores, he experimented with every little detail for months in a mock-up before going to market. Johnson also threw out Penney’s long-standing sales strategy. He got rid of discounts—and alienated tons of existing customers—before validating that his new approach would attract enough new customers.

Moving too slowly killed Blockbuster. It ignored Netflix’s subscription-based, DVDs-by-mail model for years. Then, afraid that it was too late, it bet big on its own version even though it had dire economic and operational implications.

Precise timing, however, is a fool’s errand. Disruptive innovations, by definition, deal with future scenarios that are hard to read and where neither the right strategy nor timing is clear. How can you project customer interest for a product that customers haven’t yet seen? How can you deliver detailed timelines and budgets when new products depend on technology breakthroughs?  The strategy has to emerge over time. The timing has to be opportunistic.

To deal with the vagaries of innovation, leaders at Blockbuster, Penney and hundreds of other large-company innovation failures that I’ve studied would have benefited from a strong dose of “patient urgency.”

See Also: Does Your Culture Embrace Innovation?

Patient urgency is one of the distinguishing traits that John Sviokla and Mitch Cohen identified in their study of 120 self-made billionaires, as reported in their excellent book “The Self-Made Billionaire Effect: How Extreme Producers Create Massive Value.” Patient urgency is the combination of foresight to prepare for a big idea, willingness to wait for the right market conditions and agility to act straight away when conditions ripen.

Sviokla and Cohen found that their subjects were no better prognosticators than other people—“they cannot predict the exact right time to make an investment or to bring a product to market.” They did not, however, sit back and wait. Neither did they just jump in and hope for the best. They learned about the market, made early investments and deals, tested ideas in the market and actively made improvements and adjustments. When the market became ripe, they were ready.

The Sviokla and Cohen finding squares with my research and experience.

Reed Hastings of Netflix, for example, knew from Day One that people would eventually stream their movies over the Internet. He experimented with different versions of streaming video for more than a decade. He repeatedly killed ventures when he saw they would not quite work. When the conditions were right, he moved quickly to transform Netflix into a huge streaming business.

Google’s driverless car program is another great example of patient urgency. As I’ve discussed, driverless cars have the potential to save millions of lives and throw trillions of dollars in existing revenue up for grabs while sending a tsunami of business disruption across multiple industries. Google has methodically developed potentially differentiated technology in this fertile arena while keeping its options open on how to capture the resulting business value.

The problem for most large companies, however, is that neither “we’ll figure it as we go” nor “we’ll launch when the market is right” fit with traditional planning mindsets. Operating budgets hate uncertainty. They demand detailed, time-lined projections of human resources, costs and revenue—even when those demands just yield guesses disguised as numbers. This severely limits experimentation, adaption and risk taking.

To break the organizational tendencies that dampen corporate innovation, here are three ways to encourage patient urgency:

1. Think big. Focus on big ideas that have the potential to build massive value. Develop vivid alternative future scenarios to illuminate how existing businesses might get crushed or, in a kinder world, be transformed because of disruptive innovations. Getting everyone on the same page about the stakes involved will help the organization start earlier and bide its time longer.

2. Structure early investments like financial options rather than full-fledged go-to-market plans. Ideas that could turn into multibillion-dollar businesses do not deserve billions in investments right away. Invest millions, or even tens of thousands, to test and elaborate them. Each stage of funding should focus on clarifying key questions like whether the product can be built, whether it meets real customer needs, whether it can beat the competition and whether it makes strategic sense. The goal is to invest a little at a time to develop the idea while preserving the right but not making the commitment to launch the innovation.

3. Budget for innovation as a portfolio of options. Rather than force detailed projections for individual options, plan and budget at the portfolio level. As I’ve previously discussed, the overall allocation and prioritization of the innovation portfolio should depend on a company’s investment capabilities and competitive circumstances. This limits the overall risk while allowing flexibility to shift investments between individual initiatives based on experimental results and shifting market conditions. The portfolio approach also demands that multiple (potentially competing) options be tested—thereby short-circuiting the tendency to focus on one all-or-nothing bet.

See Also: Innovation Trends in 2016

Patient urgency avoids the large-company tendency to swing from complacency to panic. It loosens the constraints of shortsightedness and inappropriate planning models that lull large companies into thinking incrementally for too long, as Blockbuster did. It also lessens the chances of being late to the game and having to risk everything on a single desperate idea, like Penney, only to have it not pan out.

Will Insurers Ever Learn From Amazon?

You may (or may not) remember that when Amazon.com began in the late 1990s, the single focus of the company was selling books online. One product category, one type of manufacturer, one market focus — people who buy books. At the time, virtually everyone in the publishing industry scoffed at the idea that anyone would want to buy a book they couldn’t first touch. Today, Amazon.com sells all types of products from all types of manufacturers to all types of individuals and businesses every day of the year. No one is scoffing any more — except perhaps the insurance industry.

Just like the publishing industry two decades ago, the insurance industry in facing a once-in-a-generation digital disruption and transformation, and I’m not sure the industry knows it. Let’s look at the distribution of insurance through the lens of an Amazon.com-like buying experience.

Most insurers and distributors automatically start with the typical objections: “Insurance is complex,” they say; or, “What about the regulatory restrictions?”; or, “My agents have to explain the product benefits to the customer.” The knee-jerk reactions make sense in an industry that is mostly agent-centric and that seemingly treats customers with at least some contempt.

We have, after all, built rules around every aspect of insurance: who can buy, what they can buy, when and how they can buy, who they are, where they are located, what they want to insure, how much insurance they need, how much it costs. There are licensing and appointment rules, compliance and regulatory issues, insurance company underwriting requirements, rating rules, policy issue guidelines, premium remittance standards and distributor channel conflict rules, and these may all be different depending on the kind of product – life, accident and health, property and casualty, individual, group, association, employer and so forth. While many of these rules make sense, many others are simply vestiges of “the way things have always been done.” That is a problem for our industry.

The reality is that a consumer doesn’t care about most of the nitty-gritty, inside baseball, that affects all of the above. The consumer cares about being in control of the insurance purchase experience like he is in control of every other shopping experience. That’s not to say the consumer wants to go it alone without an agent necessarily. But it does mean the consumer wants to be able to make that choice — and, today, she can’t. Increasingly, consumers are being schooled on how to buy everything through the convenience of a digital market; why not all of their insurance?

It won’t be long before insurance consumers will expect to access products from multiple carriers, shop, compare, buy their policy with the credit card they pull from their wallet and have their policies, ID cards, welcome letters, privacy notices, etc. instantly delivered to their own online account (not through a carrier). How about the convenience of going to a digital marketplace that remembers each consumer for subsequent transactions? Maybe like Amazon Prime?

I’ve always wondered what the executives at Barnes & Noble, Borders, Simon & Schuster, HarperCollins and Penguin (not to mention Circuit City and J.C. Penney and Sears) were thinking back in the 1990s as Amazon.com started to gain traction. I wonder the same thing now about some insurance executives.

Savvy insurers and distributors will meet consumers where they want to be met and transact business in the digital marketplace. Or they won’t. But if the industry doesn’t go there quickly, someone else will – of that, I’m sure.

Can We Disrupt Ourselves?

Brian Duperreault, CEO of Hamilton Insurance Group, delivered these remarks to the recent Global Insurance Forum, held by the International Insurance Society (IIS) in New York City.

It’s a real pleasure to be with you at what is arguably one of the most important annual events in our industry.

I was just 18 years old when the International Insurance Society had its first global meeting in Austin, Texas. I entered the industry in my 20s and joined the IIS in my 30s.

Since then, I’ve benefitted professionally and personally from the knowledge I’ve gained and the friends I’ve made at these annual meetings.

Today, I’m going to talk about an issue that represents a distinct threat to our industry. I might even go so far as to call it an existential threat.

But, like all threats, it also represents a great opportunity.

In it could lie the seeds of a legacy of meaningful change for each of us charged with leading our industry.

So I’m going to address the question: Can we disrupt ourselves?

I’m going to start by saying a few words about Twitter.

Bear with me. I do have a point to make that’s relevant to insurance. Twitter has one billion registered users so far… about one human out of every seven on Earth.

Only 6% of Twitter users are over the age of 45. More than 300 million active users—most of them under 45—join Twitter each month.

Twitter started as a platform for sharing personal moments. It’s morphed into an information delivery system that plays a major role in distributing news, marketing products and affecting the outcome of political and social developments.

And this instant, real-time communication comes with the restriction that you can only use 140 characters to get your message across.

Twitter’s simple idea completely disrupted the way we communicate. I used Twitter as an example of disruption last week when I spoke at the Young Professionals Global Forum in London. I called that speech “Risk in 140 Characters.”

Since then, the CEO of Twitter has stepped down amid charges that the platform isn’t evolving as quickly as it should, and there’s been a lot of soul searching about how this disruptive form of social media can keep current in this ever-changing, ever-evolving age of disruption.

In spite of Twitter’s challenges, I believe the metaphor is a good one. It’s time to select, analyze and price risk, faster and more efficiently – the equivalent of risk in 140 characters.

The young professionals I spoke to last week are all digital natives. As Don Tapscott, who studies the digital economy, says: They’ve been bathed in bits since they were born.

They embrace technology and use it to navigate their world, their relationships and their work swiftly and creatively.

These digital natives are mobile, wireless and connected with their peers all over the globe.

Meanwhile, in the other corner, I—and most of my friends here in this room—are digital immigrants. We’ve had to make a deliberate and conscious choice to adapt to digital ways of doing what we used to do on paper, over the telephone, or through other physical or, at best, analog, means.

Even though it was our generation who invented the Internet, many of us have the feeling of being strangers in a strange land. Using search engines and apps to navigate life and work doesn’t come naturally to us.

We digital immigrants tend to shun social media or dabble around the edges, still thinking Facebook, Twitter, SnapChat and Instagram are trendy chat rooms where younger people tell everybody what they’re up to a thousand times a day.

But the truth is that social media, which erupted onto the scene as a means of personal contact, has quickly morphed into a powerful engine of collaboration with profound ramifications for business development.

Digital natives know that. And because they know it, and use that knowledge to great effect, they are leaping ahead of the digital immigrants in our generation.

There’s a term for this: digital lapping. And this lapping of one generation by another is the basis for the disruption that’s blowing apart traditional business models. For digital natives, disruption is the new normal.

You know what I’m talking about. How many music stores saw iTunes coming? How many taxi dispatchers saw Uber coming? How many hotel chains saw Airbnb coming?

How many Blackberry execs even saw the iPhone coming? Well, maybe they saw the iPhone coming, but it’s an understatement to say their reaction was too little, too late.

Pick any industry, and you can see the pattern emerging.

The automotive industry is a telling example. Sergio Marchionne, CEO of Fiat Chrysler, recently said he’s “more determined than ever to pursue industry consolidation lest technology disrupters beat the auto industry at its own game.” Marchionne’s warning came after a meeting at Google and Tesla, and after spending almost an hour in a driverless car.

“The agenda needs to be moved,” he said, “or all these technology disrupters will come in and make our life incredibly uncomfortable.”

Clearly, all industries are facing massive disruptions because of technology. With new models of service delivery, new categories of products and restructured value chains, society and the customer expect far more than traditional businesses can offer.

These expectations represent a potentially bleak scenario for the insurance industry, because in many respects we are way behind the curve as far as technology is concerned.

And we are groping in the dark for an effective solution to attract digital natives to the industry.

Digital natives are the much-discussed, much-researched Millennials.

Born in the eighties and nineties, they’re the offspring of the Baby Boomers. They’re sometimes known as Echo Boomers or the App Generation.

Millennials are the most diverse generation we’ve ever had. In the US, 35% are non-white, and researchers who study generational differences say they are the most tolerant generation yet, believing everyone should be part of the community.

We’ve been studying Millennials for quite a while, so we know a lot about them:

  • They want to be team players.
  • They want their careers to have purpose.
  • They want to build new things that matter.
  • They use social media to collaborate. They crowd-source everything from fundraising to business capital.
  • They fight for worthy causes by alerting each other to things that distress them.
  • They don’t see much difference between work and leisure, and don’t see the point of rigid work schedules and being tied to an office.
  • They see hierarchy as an obsolete impediment to team progress. They need to get things done, and waiting for permission doesn’t strike them as sensible.

Now, does that list describe how the typical insurance company operates? I don’t think so.That’s a red flag that we need to pay attention to. Consider this:

  • Almost half of insurance professionals in the U.S. are over the age of 45.
  • 25% of all the people working in our industry will be eligible to retire in just three years.
  • That means that, in just five years, there will be 400,000 open positions in the U.S. alone.

Five years ago, Accenture warned that it’s hard to attract Millennials to a career in insurance. Accenture noted that “the industry’s apprentice structure—with its long learning curve and slow promotions—in no way suits a Millennial’s expectation of getting rapid feedback, or working in a flat organization that offers dynamic career development.” Since then, more alarm bells have been rung.

Recently, a report found that only 5% of high school and college graduates thought a career in insurance was worth looking at. When asked why, they said they thought the industry was dull and conservative and doesn’t offer much of a chance to make a difference.

For someone whose whole career has been dedicated to an industry that promises to protect, that really hurts. At the very least, we’ve done a terrible job in helping people to understand the value in what we do.

With hundreds of thousands approaching retirement in an industry that’s dismissed as boring and static, and with disruption looming on the horizon, I believe we’re staring into the jaws of a crisis.

Millennials are not only our future workforce, they’re our future customer base. And our industry, quite simply, is not prepared to attract the numbers we need, with the skills we need, to take charge of the disruption we know is coming.

The men and women in this room have presided over some of the great developments in our industry: Catastrophe modeling, deregulation and globalization all happened on our watch.

We’re not strangers to bold moves. Innovation isn’t a foreign concept.

But collectively we don’t seem to know how to crack this nut: How do we attract hyper-connected, entrepreneurial digital natives into the generally old-school world that so desperately needs them?

I know there are pockets of energy devoted to finding a solution to this problem.

MyPath has been established by the Institutes and affiliates as an industry-led effort to raise awareness of insurance as a career, and to provide information about the industry as well as job opportunities. Hamilton USA, the US operations of Hamilton Insurance Group, is one of the industry partners participating in MyPath.

And there’s Tomorrow’s Talent Challenge, an awareness campaign established by Valen, which provides predictive analytic and modeling capabilities to the industry.

Valen is so concerned about the lack of interest the digital generation is showing in insurance that it created Tomorrow’s Talent Challenge “as a rallying cry for the insurance industry to band together to sell exciting, innovative careers in insurance to Millennials.”

These are laudable efforts – driven by the same sense of urgency that I’m outlining here.

But they’re not enough.

We need a focused, coordinated strategy embraced by some of the major players in our industry.

We need a collaborative commitment like the one announced a few months ago.

In January, as many of you know, a consortium of eight companies from our sector announced a far-reaching initiative to provide insurance to the underserved. My company is proud to be one of the partner companies.

We referred to the new entity as the Microinsurance Venture Incubator – or MVI. Quite a mouthful.

This morning, we announced that the venture has a much better name.

After inviting more than 100,000 employees in our partner companies to help us name the MVI, we chose Blue Marble Microinsurance. This is a great name. It really captures the spirit of our venture. It reminds us of how connected we all are – ever more so in this digital age.

Blue Marble Microinsurance takes a holistic view of our world, planning to extend protection to a broader portion of the population by providing insurance in a socially responsible and sustainable way.

It offers people on the wrong side of the digital divide the stability and potential for growth that insurance makes possible.

Blue Marble Microinsurance’s company partners know that the ability to manage and finance risk is critical to the development of society – any society, but most urgently to those struggling to gain a stable toehold in their pursuit of education, jobs and a prosperous future.

Research and development enabled by Blue Marble Microinsurance will bring affordable insurance products to the developing world.

Technology is at the base of this global project, using innovative apps to connect consumers and products on a micro level – but what drives it is our industry’s collaboration, our sense of purpose and our focus on the future.

What we learn from Blue Marble Microinsurance could truly shift the insurance paradigm.

Yes, it has the potential to reduce the cost of risk analysis and product distribution and delivery. And, through reverse innovation, the application of that knowledge in the developed world could be one of the most enduring legacies of this project.

I have to admit to a huge sense of satisfaction at watching this concept unfold. It was three years ago – almost to the day – that I addressed the annual IIS meeting in Rio and outlined a plan for a coordinated industry effort focused on microinsurance.

At the time, I said that this wasn’t the sort of project that could be tackled by one company. Many had tried, but none had succeeded.

I’m delighted that Joan Lamm-Tennant is now leading the development of Blue Marble Microinsurance.

Joan poured her heart and soul into taking an idea outlined in Rio in 2012 and making it a reality three years later.

This initiative is a shining, innovative example of what happens when we work together to find creative risk solutions.

So if we can find a way to offer coverage to literally billions in developing markets around the world, I know we can figure out how to redefine our work environments, our human resources policies and our recruiting programs in such a way that digital natives will be beating down the doors to join us.

Last week, I challenged the leaders of tomorrow to take charge of their destiny and find ways to attract Millennials into the insurance industry.

Today, I’m inviting you, as today’s leaders, to work together to develop a strategy for our disruption, leveraging the talent and skills of the digital generation.

As I said last week, insurance should be catnip to a Millennial looking for a purpose-driven career.

Let’s invite these digital natives in, make them feel welcome and give them the benefit of our considerable experience and expertise.

Then, let’s step aside and let them lead the way.

We have one of those rare opportunities to leave a lasting, collective legacy – one that ensures the insurance industry stays relevant and innovative and becomes the No. 1 career choice for any young person who wants to make a difference, be part of a team, keep the world working – for generations and generations to come.

Blue Marble Microinsurance is proof that, when we collaborate, exciting things happen. Let’s take a disruptive step to the future – together.

Realities of Post-Disaster Data Recovery

The construction industry’s dependence on information technology systems continues to expand with the dramatic shift from document management to data management. With this reliance comes an increased vulnerability to business disruption. Data management, business continuity and post-disaster data recovery requires a shift in mindset from firefighting to fire prevention. Zero disruptions is a bold strategic imperative that provides a competitive advantage by enhancing field productivity, increasing office efficiency, reducing downtime and preventing data losses. Effective data backup and post-disaster recovery protocols are the essential steps to minimize business disruptions.

Data management today requires an enterprise view integrating a company’s increasingly complex networks. Data must be construed to encompass all information generated, received, transmitted, stored and retrieved throughout the organization. Additionally, data must be incorporated from its various physical and virtual locations, including mobile devices. Following are IT trends affecting AEC companies:

  • expansion of email as the predominant form of intra- and inter-company communication;
  • growth of online data mobility project management tools using smartphones and tablets to access and transmit data;
  • increased adoption of document imaging to replace paper recordkeeping files;
  • growth of enterprise resource planning (ERP) platform systems and integration with best-in-class specialty software programs;
  • estimators’ use of the same database to work from multiple locations on complex projects;
  • increased adoption of, and massive data files generated by, BIM;
  • emergence of hosted and cloud-based data recovery systems;
  • expansion of e-discovery in litigation, which raises expectations for (and increases the risks of ) record retention; and
  • proliferation of social media networks combined with bring-your-own-device policies, which creates new portals for hacking, malware and viruses.

The severity of natural disasters and the escalating number of man-made emergencies and technological disruptions compounds the construction industry’s dependence on IT systems. Many of these disruptions “only” result in temporary IT system shutdowns, while others pose a threat to the viability of the business.

A company’s vulnerability to data loss can be increased or decreased by the actions taken (or not taken) with regard to data backup and recovery. A robust business continuity plan is the first step. Companies have many choices when selecting the best way to back up their vital information and mission-critical data.

The Need for a Comprehensive Business Continuity Strategy

Automatic offsite (hosted or cloud-based) data backup protocols at regular intervals are the best prevention for data loss. These backups must be set for every type of data and for every type of device accessing, transmitting or storing information.

Another data recovery strategy is imaging the company’s server and running the restored replica image from a new server in a remote location. However, this strategy requires pre-planning. In a large-scale disaster, obtaining replacement servers may not be possible.

Causes, Costs and Consequences of Data Loss

Data disruption is a reality of the modern work environment. Causes of data loss include:

  • failure to initiate or maintain regular data backups;
  • hardware failure;
  • human error resulting in accidental deletion, overwriting of data or forgetting to add new IT systems/devices to backup protocols;
  • failure to test the backup and data recovery restoration process to determine adequacy;
  • software or application corruption;
  • power surges, brownouts and outages;
  • computer viruses, malware or hacking;
  • theft of IT equipment; and
  • hardware damage or destruction from vandalism, fire and water (rain, flood or sprinkler system discharge).

The consequences of lost data include direct loss of revenue from missing bid submissions or customer orders, direct expenses to pay for technical specialists to help recover data, decreased productivity during the shutdown and costs to re-key or obtain replacement data. For contractors selling directly to consumers, the loss of Internet connection for any extended time could prove costly. Lost data also can result in litigation for breach of confidential information plus adverse publicity.

A 2012 study commissioned by cloud-based data backup company Carbonite revealed 45% of small businesses (defined as fewer than 1,000 employees) had suffered a data loss. Fifty-four percent of the data losses were attributed to hardware failure, and the average cost for data recovery was $9,000.

Real-World Data Loss Scenarios

  • Laptop motherboard failure. A project estimator was working offline when the motherboard crashed. Because of a tight deadline, he had to restart the estimate from scratch. Although the bid was successfully submitted on time, the estimator fell behind on pricing other jobs that the company failed to win.
  • Lost iPhone. Pictures of a project safety incident with documentation of a mismarked “one-call system” utility spot were lost. The photo documentation had not been transmitted to the office, and the contractor lost the request for damages against the utility locating service. Moreover, the smartphone was not properly password-secured, allowing unauthorized access to contacts, client information and company data.
  • Desktop computer backup location not properly mapped to server. When a workstation was upgraded with a new desktop computer, it was not mapped to the server for automatic backup. The computer hard drive crashed, and no files were backed up. Recovery using the old desktop computer was slow, and data created on the new computer was lost.
  • New database not added to the nightly backup protocol. A company purchased a new customer relationship management database and, after a power outage, realized it had not been added to the nightly data backup protocol.
  • Onsite data backup location destroyed. The building housing an onsite backup server was struck by lightning, which started a fire and resulted in a total loss of all current and historical data.
  • Disaster recovery software not properly configured. While conducting a test of a company’s disaster recovery plan, it was discovered that some critical data was not being captured in the backup files.
  • Laptop and tablet stolen from a jobsite trailer. The field equipment had not been backed up for several weeks, resulting in the loss of key project documentation.

Best Practices for Data Management

Data management and IT network administration is a strategic, unique function for all companies. It is not possible to delineate all data management best practices, but the following guidelines should help enhance most companies’ post-disaster data recovery efforts:

  • Determine the company’s recovery-time objectives, and plan and budget accordingly. Identify which functions and systems must remain operational at the time of a disruption or disaster. This requires advance planning and budgeting for necessary systems and technical support services. It also helps prioritize risk-reduction strategies, including investments in data management backup system and security upgrades.
  • Develop a written business continuity plan that outlines specific responsibilities for protecting vital information and mission-critical data. The business continuity plan should include protocols for backup and synchronization of all office systems and virtual/mobile devices. It also should address the frequency and format for testing data management integrity and security, as well as how gaps will be identified and addressed.
  • Inventory the company’s vital information and mission-critical data, and verify it is being backed up. Key considerations include how the data is being backed up, by whom and how frequently, as well as where the backup data is stored. It is important to ensure the data backup and restoration process work as designed.
  • Initiate automatic scheduled backups, ensure the backup data is stored offsite, and test the adequacy of the data backup and restoration methods. Consider the added benefits of imaging the company’s servers to achieve a complete restoration of the data management system
  • Develop a comprehensive diagram of the company’s integrated data management network, including all physical and virtual/mobile subsystems. Ideally, this will be an “as built” blueprint of the company’s configuration consisting of the hardware, operating systems, software and applications that make up the data management network.
  • Institute policies regarding the use of the company’s Internet, including security protocols. Implement policies for user authentication, password verification, unacceptable personal devices and reporting of lost equipment. It is essential to communicate these policies and security protocols to all users and to train new employees.
  • Establish proactive management of the company’s data and IT network. Ensure the company’s network administrator has state-of-the-art tools, including remote access, help desk diagnostics and anti-spam and malware protection. Request periodic updates on all software licensing audits and verification that all security patch updates have been installed on a timely basis. Establish a fixed replacement schedule for hardware and software.

There is good news and bad news regarding business data management and recovery. The bad news is that the need for post-disaster data recovery can no longer be ignored. The increasingly complex and connected business world demands pre-planning for business continuity. The good news is that data management and recovery services are scalable to meet the custom needs of every business regardless of the size and scope of the operation and its degree of data dependence.

Reprinted with permission from Construction Executive, January 2014, a publication of Associated Builders and Contractors Services Corp. Copyright 2014. All rights reserved.