Strengthen your Business with Digital Resilience

Discover four practical ways to improve your company's digital resilience for better control and success.

Not sure what digital investments to make to help your business grow? We’re here to help – sign up for free one-to-one business support with a V-Hub adviser today to gain expert advice on a range of digital topics.

For more support on other areas of your business, you can also find advice, events, tools and more on the Vodafone V-Hub, designed to help your business thrive in the digital world.
 

Starting a business can be a rewarding experience, but it also comes with plenty of risks. Building your digital resilience is key to giving your company the best chance of success.

When you run a business, disruptions can come from multiple sources. It could be an unfortunate incident that just affects your company, such as a flood on your premises or a cyber attack. Or, it could be a major economic event like a recession that brings your sales to a standstill.
 
If one of these incidents happens, you need the right technology in place to withstand shocks, maintain operations and ensure your business survives. That’s where digital resilience comes in.

What does digital resilience mean?

Digital resilience involves establishing the right digital foundations to overcome unexpected disruptions, optimise operations and run your business effectively.
 
Improving digital resilience has become especially important for startups after the challenges of the last few years. The pandemic forced many companies to pivot and move entirely online – a transition that was much easier for those with strong digital systems already in place.
 
More recently, the cost of living crisis has put more focus on the need for productivity and efficiency. Startup founders are looking for ways to streamline operations when short on time and resources, and technology provides a solution.
 
So, where do you start with building your digital resilience, and what are some of the key elements you need to consider?

Four ways to improve your digital resilience

Digital resilience entails looking at each area of your business, from operations to finances, to identify vulnerabilities and find ways to improve your resilience.
 
If you're strapped for time like most founders, it’s common for this kind of task to slip down your to-do list. But spend a few hours boosting your company’s resilience now and you can save yourself a huge amount of time, money and stress in the future. 
 
Here are four ways to improve your digital resilience and get better control over your business.

1. Get a cyber security strategy in place

In 2022, 38% of UK micro and small businesses had experienced a cyber attack over the previous 12 months, with 82% reporting phishing attempts and 25% experiencing a more sophisticated attack such as malware or ransomware.
 
A robust cyber security strategy is critical to safeguard your company, data and reputation. You can start by:
 

• Researching your options for securing your devices and network
• Asking your employees to undertake free cyber security training from the National Cyber Security Centre
• Creating an incident response plan

 

2. Optimise your processes

When you first start out, it’s normal for your processes to be slightly scrappy. You might do all your bookkeeping in an Excel spreadsheet or keep key customer and supplier information in a notebook.
 
That’s fine when you’re in the very early stages of your enterprise. However, as your startup grows, these ad-hoc processes can cause problems.
 
If your computer suddenly breaks or there’s a fire at your office, it can cause serious disruptions if everything is stored locally. Alternatively, if your product starts to take off and you need to scale quickly, it can be difficult to stay agile without a centralised management system.
 
Optimising outdated processes will give you better control over your business. Some ways include:
 

• Making the most of cloud software to safely store and share documents in a central place (Google Drive and Microsoft 365 are popular options)
• Implementing accounting software which syncs all your financial data
• Using a digital project management tool (Trello is easy to set up and has a generous free plan)

 

3. Get insights to inform decisions

Digital resilience isn’t just about protecting your company from risks. It’s also about using technology to capitalise on opportunities and make informed decisions. 
 
For startups, every penny matters, so it’s important to invest in the right places. Having digital systems will give you better visibility and control across your business, which will help to make your decision making more robust. 
 
You can analyse your data and ask questions like:
 

• Which channels are customers using to make purchases? 
• Are we having success with an unexpected customer segment? 
• Which products or services have the best profit margin?
• Are there any red flags we need to address?

 
Digging into these insights means you can tackle weaknesses early and build on areas of growth, both of which will boost your resilience. 
 

4. Connect your team

The rise in remote working has made it more common to use distributed workforces. It’s great news for startup founders: fewer office costs, less time commuting and more access to expertise across the country. 
 
That said, you need to get your team set up properly to ensure your business stays digitally resilient. In addition to cyber security risks, you’ll also want to make sure people can communicate easily and work as productively as possible.
 
Places to start include:
 

• Checking that your team have reliable and secure internet connections 
• Choosing which communication tools to use and when (e.g. email for primary communication, a chat tool like Slack for team conversations and a messaging tool like WhatsApp for urgent questions)
• Reminding team members about privacy (e.g., taking phone calls in private, ensuring people can’t see their laptop screens in public spaces)

 

Digital resilience is a team effort

Creating a digitally resilient business won’t happen overnight. It’s similar to improving your efficiency – it should be an ongoing task to examine your processes and technology to find improvements. The more time you can invest in boosting your resilience, the more prepared you should be if there’s an unexpected disruption.
 
It’s also important to remember that building your company’s digital resilience doesn’t just fall on your own shoulders. When it comes to something like cyber security, your protection is only as strong as your weakest link. 
 
Take a few minutes to explain what digital resilience is and why it matters to your co-founders and employees, and you’ll take a big step towards future-proofing your business.
 

Not sure what digital investments to make to help your business grow? We’re here to help – sign up for free one-to-one business support with a V-Hub adviser today to gain expert advice on a range of digital topics.

For more support on other areas of your business, you can also find advice, events, tools and more on the Vodafone V-Hub, designed to help your business thrive in the digital world.