WEX Global Strategy Supported by Strategic BCP’s Value Stream Approach
WEX emerged from 2015 with a better system in-place and a strong foundation for global organizational resilience across the entire enterprise.
Reframing Organizational Thinking
Strategic BCP’s Value Stream is a programmatic approach that brings people, policies, process, technology, risk management, and metrics together to ensure business resiliency. While rigid adherence to existing methodology is very common among Business Continuity planners, part of the challenge with this discipline was to reframe organizational thinking. In a very short time, the partnership between WEX and Strategic BCP has managed to achieve both executive-level and board-level support for their efforts—as the benefits impact to the overall organization.
The greatest benefit has come from how management now views Business Continuity overall. Where there were once isolated plans for each business function, there is now a far more holistic view. This elevates Business Continuity to a strategic level with greater relevance within the organization.
Most Notable Achievements
The greatest victory to-date has been the unqualified support that the Continuity and Resilience team has gained from executive management, their board, and all business units. When the team demonstrated how it could help drive efficiencies and lower risk in all areas, it moved away from being an “afterthought.” Business Continuity practices are now a fully integrated component of the organization’s SOP. To do this effectively, WEX, with assistance from Strategic BCP, made certain to establish the correct expectations up-front. They ensured that the proper tactics and approaches were not only being administered, but measured and attended-to as well.
The Continuity and Resilience team has the entire organization thinking about compliance—how to be both strategic and resilient. They are determined to keep pace with not only the threats naturally associated with growth—but with common challenges inherent in a changing world, such as heightened potential for cyber threats, climate-related business interruptions, and the risk or terrorism.
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