At the end of 2020, FIA conducted an industry-wide survey to fully understand the impact from the COVID-19 pandemic and to compile lessons learned to assist with future disruption.
At a high level, more than 75% of firms said they have a pandemic preparedness and response plan component in the business continuity plan (BCP). The vast majority also reported that teleconferencing and collaboration tools worked well for their businesses, and that they considered themselves and their service-providers to be well-prepared. More than half of firms said they made "tactical adjustments" to their standard BCP plans in response to the specific nature of the crisis.
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