Capterra Glossary
Business Impact Analysis (BIA)
Business impact analysis (BIA) helps predict the consequences of disruption of operations. BIA involves looking at a disruption, finding out as much information as possible about the disruption, and creating a recovery strategy that will correct not only the disruption but also its consequences.
What Small and Midsize Businesses Need to Know About Business Impact Analysis (BIA)
With business impact analysis, SMBs can come up with solutions to prevent future disruptions. BIA can help SMBs identify the actual impact of a disruption (both operational and financial) and review potential loss scenarios, including lost or delayed sales or income, any increased expenses, penalties or fines, and any customer dissatisfaction resulting from the disruption.