Collaboration and implementation
Successfully implementing a business continuity plan for family offices requires active collaboration and communication among family members, employees, and external service providers. Each group plays a crucial role in ensuring successful execution and maintaining uninterrupted operations during disruptions.
Family members must be well informed about the plan and allowed to make critical decisions on what functions to prioritise. Employees need to be trained and take responsibility for the recovery activities. And external service providers should be informed about the plan’s objectives and their roles in maintaining operations.
Coordinating the plan with all stakeholders can be exhaustive. Family offices can seek the help of consultants and external advisors to make the process smoother. Additionally, they can use technology platforms to achieve seamless collaboration and communication. Check out some examples of service providers below:
iPaladin is a digital family office operating system. The platform removes inefficiencies, lowers risk, improves compliance and provides a solution built specifically for managing complex single and multi-family offices.
Way2B1 is an integrative platform that streamlines life management for families, organisations, and the teams and professionals who support them. It helps to organise all family information in one hub, simplifying logistics and managing access to family data.
Trustworthy is a Family Operating System®, an online service that helps modern families and their advisors organise, protect and optimise their important information all on one platform. It ensures a secure and collaborative experience between families and their advisors.
Eton Solutions is a comprehensive platform designed to enhance the capabilities of family offices. It provides precise data, streamlines operations, and minimises risk, allowing you to concentrate on delivering value and strengthening client relationships.
Nines is a technology platform that aids families and their private service professionals manage their households. It enables estate managers, house managers, personal assistants, nannies, housekeepers, private chefs, and property managers to work more quickly and efficiently.