Safe deposit box in the company – business continuity plan

Companies operate under conditions of market risk that are relatively predictable and measurable. Business plans assume, among other things, the business, financial, marketing, and technical conditions necessary to achieve set goals, such as sales, EBITDA, or net profit.

Beyond market risk, crisis situations arise from time to time, typically with low probability but extremely difficult to predict in terms of impact. Such situations include fire, flood, theft, sabotage, terrorism, and, increasingly, cyberattacks, whose timing and consequences cannot be fully predicted.

To prepare for such situations and mitigate their impact, companies develop a Business Continuity Plan (BCP). A well-prepared plan typically allows a company to efficiently respond to crisis situations and operate according to scenarios developed for specific threats.

The purpose of a Business Continuity Plan is to ensure the company's survival until it returns to its pre-crisis state. Business Continuity Planning helps minimize both financial losses and immeasurable ones, such as loss of reputation or trust.

A Business Continuity Plan is often a set of scenarios developed in the form of operating procedures for specific individuals or teams, designating backup centers and other resources enabling the continued operation of the company in difficult conditions.

A Business Continuity Plan often consists not only of people and procedures, but also of various other things such as access cards and backup keys, access codes and login passwords, backup copies, powers of attorney and other documents enabling the company's representation in a crisis.

It's worth considering a Business Continuity Plan (BCP) for an off-site location and backup center where all or some of the above-mentioned documents and items will be stored. In practice, the BCP is often located in the office safe, the boss's office, or the owner's home. However, in crisis situations, access to the office is limited, the keys and codes to the safe are lost, and the owner or boss is on an extended vacation and may not return for several days.

A modern vault and safe deposit box can be an interesting option to consider when developing a Business Continuity Plan. A professional, certified vault is a well-secured facility prepared for crisis scenarios. A modern vault and deposit service allows 24/7, 365-day-a-year access to the safe deposit box and is designed to allow authorized access at all times.

Access to the vault and safe deposit box is granted based on advanced hand or facial biometrics and does not require additional keys, passwords, or PINs. In an emergency, authorized individuals can access the safe deposit box using an assigned biometric key, which cannot be forged, stolen, or lost.

Additionally, more than two people can now have access to the vault and safe deposit box – up to five people can be authorized to use the company safe deposit box in a modern vault.

The professional vault and safe deposit boxes are suitable for depositing documents (deposit boxes are A4 format), security copies and other sensitive or valuable items.

Considering the above aspects, it's worth considering including and renting a safe deposit box from a professional depository in your Business Continuity Plan. A well-chosen safe deposit box service can save you significant costs and stress during business crises.

Safebox24 is a modern vault and deposit service available in Warsaw and soon in select cities in Poland. Safebox24 provides safe deposit boxes in certified, insured vault facilities, providing 24/7 access to the locker based on biometric identification.