Disaster Recovery

Because information technology is now integrated in most businesses, a business continuity plan (BCP) cannot be complete without a corresponding disaster recovery plan (DRP). While a BCP encompasses everything needed – personnel, facilities, communications, processes and IT infrastructure – for a continuous delivery of products and services, a DRP is more focused on the IT aspects of the plan.

If you’re still not sure how big an impact loss of data can have, it’s time you pondered on the survival statistics of companies that incurred data losses after getting hit by a major disaster: 46% never recovered and 51% eventually folded after only two years.

Realising how damaging data loss can be to their entire business, most large enterprises allocate no less than 2% of their IT budget to disaster recovery planning. Those with more sensitive data apportion twice more than that.

A sound disaster recovery plan is hinged on the principles of business continuity. As such, our DRP (Disaster Recovery Plan) blueprints are aimed at getting your IT system up and running in no time. Here’s what we can do for you:

  • Since the number one turn-off against BCPs and DRPs are their price tags, we’ll make a thorough and realistic assessment of possible risks to determine what specific methods need to be applied to your organisation and make sure you don’t spend more than you should.
  • Provide an option for virtualisation to enjoy substantial savings on disaster recovery costs.
  • Provide various backup options and suggest schedules and practices most suitable for your daily transactions.
  • Offer data replication to help you achieve business continuity with the shortest allowable downtime.
  • Refer to your overall BCP to determine your organisation’s critical functions, services, and products as well as their respective priority rankings to know what corresponding IT processes need to be in place first.
  • Implement IT Security to your system to reduce the risks associated with malware and hackers.
  • Introduce best practices to make future disaster recovery efforts as seamless as possible.

We can also assist you with the following:

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How the Dodd-Frank Act affects Investment Banking

The regulatory reform known as the Dodd-Frank Act has been hailed as the most revolutionary, comprehensive financial policy implemented in the United States since the years of the Great Depression. Created to protect consumers and investors, the Dodd-Frank Act is made up of a set of regulations and restrictions overseen by a number of specific government departments. As a result of this continuous scrutiny, banks and financial institutions are now subject to more-stringent accountability and full-disclosure transparency in all transactions.

The Dodd-Frank Act was also created to keep checks and balances on mega-giant financial firms that were considered too big to crash or default. This was especially deemed crucial after the collapse of the powerhouse financial institution Lehman Brothers in 2008. The intended result is to bring an end to the recent rash of bailouts that have plagued the U.S. financial system.

Additionally, the Dodd-Frank Act was created to protect consumers from unethical, abusive practices in the financial services industry. In recent years, reports of many of these abuses have centered around unethical lending practices and astronomically-high interest rates from mortgage lenders and banks.

Originally created by Representative Barney Frank, Senator Chris Dodd and Senator Dick Durbin, the Dodd-Frank Wall Street Reform and Consumer Protection Act, as it is officially called, originated as a response to the problems and financial abuses that had been exposed during the nation’s economic recession, which began to worsen in 2008. The bill was signed into law and enacted by President Obama on July 21, 2010.

Although it may seem complicated, the Dodd-Frank Act can be more easily comprehended if broken down to its most essential points, especially the points that most affect investment banking. Here are some of the component acts within the Dodd-Frank Act that directly involve regulation for investment banks and lending institutions:

* Financial Stability Oversight Council (FSOC): The FSOC is a committee of nine member departments, including the Securities and Exchange Commission, the Federal Reserve and the Consumer Financial Protection Bureau. With the Treasury Secretary as chairman, the FSOC determines whether or not a bank is getting too big. If it is, the Federal Reserve can request that a bank increase its reserve requirement, which is made up of funds in reserve that aren’t being used for business or lending costs. The FSOC also has contingencies for banks in case they become insolvent in any way.

? The Volcker Rule: The Volcker Rule bans banks from investing, owning or trading any funds for their own profit. This includes sponsoring hedge funds, maintaining private equity funds, and any other sort of similar trading or investing. As an exception, banks will still be allowed to do trading under certain conditions, such as currency trading to circulate and offset their own foreign currency holdings. The primary purpose of the Volcker Rule is to prohibit banks from trading for their own financial gain, rather than trading for the benefit of their clients. The Volcker Rule also serves to prohibit banks from putting their own capital in high-risk investments, particularly since the government is guaranteeing all of their deposits. For the next two years, the government has given banks a grace period to restructure their own funding system so as to comply with this rule.

? Commodity Futures Trading Commission (CFTC): The CFTC regulates derivative trades and requires them to be made in public. Derivative trades, such as credit default swaps, are regularly transacted among financial institutions, but the new regulation insures that all such trades must now be done under full disclosure.

? Consumer Financial Protection Bureau (CFPB): The CFPB was created to protect customers and consumers from unscrupulous, unethical business practices by banks and other financial institutions. One way the CFPB works is by providing a toll-free hotline for consumers with questions about mortgage loans and other credit and lending issues. The 24- hour hotline also allows consumers to report any problems they have with specific financial services and institutions.

? Whistle-Blowing Provision: As part of its plan to eradicate corrupt insider trading practices, the Dodd-Frank Act has a proviso allowing anyone with information about these types of violations to come forward. Consumers can report these irregularities directly to the government, and may be eligible to receive a financial reward for doing so.

Critics of the Dodd-Frank Act feel that these regulations are too harsh, and speculate that the enactment of these restrictions will only serve to send more business to European investment banks. Nevertheless, there is general agreement that the Dodd-Frank Act became necessary because of the unscrupulous behaviour of the financial institutions themselves. Although these irregular and ultimately unethical practices resulted in the downfall of some institutions, others survived or were bailed out at the government’s expense.

Because of these factors, there was more than the usual bi-partisan support for the Dodd-Frank Act. As a means of checks and balances, the hope is that the new regulations will make the world of investment banking a safer place for the consumer.

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Saving Energy Step 4 – Breathing Life into the Project

Today we consider the fourth step on the road to energy saving, when we introduce key contributors who will pull it all together. We have been on quite a journey. We started by developing a management system and then followed up with practical improvements, while challenging the assumptions behind the energy bills we may have paid unchallenged in the past.

After we knock off the big-ticket savings, managing energy becomes a process of improvement characterised by smaller increments. Kaizen is the classic model and it includes everybody in the organization from the janitor to the CEO. I inverted the pyramid deliberately, because ideas deserve considering no matter where the originator parks in the company yard.

People ? our people ?are truly central to the process. Energy adds extra leverage to their efforts, keeps them warm in winter, cool in summer and powers up the ovens in the company canteen. They are brimming over with ideas because that is the nature of being human. The best managers are those who release this potential and participate in its flowering,

It is important not to threaten job security. So many savings-driven initiatives have ended in job losses that people on the shop floor automatically suspect another round. Shrinking carbon footprints is about making the world a better place for everyone. We become more effective when we turn ?increasing profit? into making the enterprise sustainable in itself.

Engaging employees is more than office circulars and speeches at the Christmas Party. Organizations are organic places where trust grows slowly but conflict can flare in a moment. Before involving your people in your energy ?kaizan? make sure your words and intentions overlap perfectly. You will be amazed at the power you unlock in your people.

The best way I know of doing this is through your health and safety structure, which then becomes your environment, health and safety structure EHS. As you explore this idea at safety committees you find these things overlap, in the sense of creating people-centric environments at work and home.

That said, there is no magic formula for achieving employee engagement. The fact that people universally want a cleaner planet is the power to tap into. One way to form a team is to create one artificially and give it a task. The other is to work together towards a shared objective. Which one do you prefer?

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How an EMS Can Cut Your Carbon Emissions

Your business carbon footprint is directly tied to the efficiency of its energy consumption. From the equipment used in industries, lighting and air conditioning in offices, shopping malls and other commercial buildings, the load used by everyday machines like the coffee makers in the employee breakroom, to hot water boilers in apartment complexes, how much do your processes affect the environment? Standards like the ISO 14001:2015 are being implemented to enable businesses to reduce their impact on the environment, from optimising their energy usage, minimising waste, turning to renewable power sources, all through to preventing pollution and complying with their specific regulatory requirements. How do you handle the volume of data that needs to be obtained and assessed?

Energy management systems come in to enable you to analyse your consumption, identify factors affecting your total energy use – from temperature and humidity conditions, to equipment that is causing spikes, and observe your usage patterns. That way, you can put in measures to minimise wastage while increasing your operational efficiency, reduce your carbon emissions and track your progress all the way. Here, we’ll break down how this is achieved. 

Going Green With An Energy Management System

This is a holistic approach aimed at minimising wastage and optimising energy usage. It includes:

Auditing your energy consumption

The first step is really quantifying how much energy you use, which systems are causing unnecessary load, all through to where there are inefficiencies in the facility. Which equipment has the largest impact on your bill? An energy management system allows you to view it all from one dashboard, such as with the ecoVaro EMS that takes you down to the sub-meter level.

Here, you get real-time data that is collected by the ecoVaro loggers – from electricity use, gas, water, temperature, solar power, humidity, air pressure – the readings can all be monitored. This is done 24/7, and the consumption feeds are recorded. Moreover, ecoVaro pulse data is collected every 15 minutes – which is particularly important when it comes to analysing trends over a time period, be it daily, weekly or monthly. 

Data is only useful if it can be properly analysed, right? So instead of just bombarding you with spreadsheets of numbers, the EMS displays the records into graphs and charts that are easy to comprehend – all from the same interactive interface. So, whether you’re the energy manager in the facility, or you want reports that can be shared with the CFO, owners of the business, or even staff themselves to enable them to understand the energy saving policies that you will put in place – you will be able to carry this out. 

ecoVaro gives you different ways to analyse the data from the readings that have been recommended. For instance, the heat mapping from the interface allows you to see the building’s energy use during different periods at a glance. The site-by-site analysis in particular enables the building or energy manager to assess each individual premises, from checking which block in the school is causing the energy bills to surge, the facility whose performance is falling behind, all through to the office building with the highest carbon footprint. In fact, the carbon and sustainability reports from ecoVaro EMS enables you to see the impact that your operations have. You even get to compare tariffs from the different energy suppliers, that way you can go with the option that is most suited to your situation.

Setting a baseline for your operations

This is essentially a “before/after checkpoint” that you will use to compare the effectiveness of subsequent measures that you will undertake. After making modifications to the systems in your business, you will want a clear picture of whether the new measures are actually benefiting your operations and optimising your energy efficiency, or whether they are deteriorating the performance further. The energy baseline will be critical in analysing your progress. 

Reports like the CUSUM (cumulative sum) charts on ecoVaro show you the energy performance, be it of a boiler in a factory, office building, or chain of hotels – over a set period of time. You can then compare this to the baseline, which will show you if the changes you will implement will make you savings. The heatmaps also come in handy here, showing you the energy consumption at each meter, whether it is low, medium or high compared to the baseline that has been set. The heatmaps give a quick visual to analyse resource usage.  

Creating energy targets

After understanding your energy consumption and seeing how it impacts your business, next is mapping out short- and long-term goals that you want to attain to optimise your usage and reduce your carbon footprint. 

For instance, short-term targets can include the likes of decreasing the night-time lighting load, and adjusting HVAC uptime depending on the level of activity in your business premises for the different hours of the day. 

For the long-term targets, these include setting a specific percentage average kWh reduction for the different industrial sites or buildings under your management; lowering the demand kW throughout the building by a specific range year-on-year; as well as the percentage with which you want the carbon emissions decreased annually. 

Cost efficiency also factors in. For instance, entering your current tariffs into the conversion factoring dashboard on ecoVaro will show you how your consumption translates to the bills that you receive – and even shows you what you stand to save by negotiating for new energy contracts with your utility firm.

Identifying initiatives and implementing energy saving programs

These are geared towards improving your energy efficiency and reducing your carbon footprint. They vary from one industry to the next. For instance, these can include:

Getting motion/occupancy detectors and automatic dimmers installed in the facility

These are lighting controls that enable you to save money and energy by automatically turning the lights off when they are not required (people have left the room), and reducing the light levels for those cases where full-on brightness is not needed. For instance, the dimmer controls enable variable indoor lighting, reducing the wattage and output when dimming the lightbulbs, saving energy in the process. These can be manual, or operated with sensors or timers. 

Motion sensors on the other hand will automatically turn on the lights after they detect motion, then after a short while turn them off – they are typically used for utility and outdoor security lighting. There are also occupancy sensors used in rooms, which turn on the lights when they detect indoor activity, then turn them off or reduce the light output when the particular space is unoccupied. 

Switching to energy-efficient light fixtures such as CFL or LED bulbs

Lighting costs are a major contributor to the energy bills being footed by the business. What kind of systems do you have set up?

Incandescent bulbs are rapidly being phased out due to their inefficiencies. They work by a wire tungsten filament getting heated until it glows – a process that sees almost 90% of its energy being released as heat, instead of light. In addition, with an average lifespan of just 1,500 hours, there is the need for better alternatives – and they have already been around for over a decade: CFL and LED bulbs, which save on energy and have far less carbon emissions. 

Compact fluorescent light bulbs (CFLs) light up when an electric current going through a tube with argon and trace mercury gases generates ultraviolet light, stimulating the fluorescent coating that’s on the inside of the tube, which in turn produces light. As such, a 15-watt CFL will have about the same light output as a 60-watt incandescent bulb. This makes them approximately 4 times more efficient compared to the incandescent bulbs, with a lifespan of 10,000-15,000 hours. This translates into fewer replacements and greater energy savings. However, there are still concerns about the mercury that is in the CFLs, though it is still in small quantities – basically smaller than the tip of your pencil. In addition, the CFLS aren’t; dimmable. They are usually used as a replacement for incandescent bulbs before completely switching to the more efficient LEDs.

Light-emitting diode bulbs (LEDs) Take things a notch higher. Here, electrons moving through a semiconductor emit the light, and you can get the LEDs for visible light, ultra-violet, and infrared spectrums. Here, the lifespan is 25,000–35,000 hours, which is more than double that of CFLs, and leagues beyond the standard incandescent bulb. Moreover, with a 16.5W LED bulb you’ll be getting the same lighting as a 20W CFL, or a 75W incandescent bulb. 

You will notice that when you touch LEDs, they feel cool, and this is because less energy is getting converted into heat. With the energy efficient bulbs, you won’t have to run your AC harder during those hot months, further adding to your cost savings. You can be able to see such consumption trends over the months through the energy management system, getting to the root cause of the problem. For instance, seeing the changing trends in the AC energy consumption over different weeks will enable you to assess what is causing it to be pushed harder, and address the root cause of the problem. 

Acquiring energy-efficient office equipment

This is broad, with the changes being made here depending on your particular niche. Take printers for instance. Simply going for printers with sleep and automatic shut-off modes will ensure that the units are not consuming energy when they are not in use. The same case applies to copier machines. Energy saving surge protectors on the other hand are beneficial for allowing you to “unplug” multiple devices that use standby power even when switched off – what’s usually called “vampire power” or “phantom energy“. 

The need for energy savings cuts across the board, from the computers and monitors used, to the coffee makers and kettles. For instance, working with an electric kettle to heat water for tea beats using a microwave or stove. Go further by opting for a kettle that allows you to set the particular temperature you want for the water – since you don’t really need the water for tea to be boiling hot for the tea to properly steep. Taking such steps further contributes to your business’ efforts to go green and reduce your carbon footprint. 

Turning to renewable energy sources

Switching to renewable sources to power your operations will simultaneously reduce your energy bills and cut your carbon emissions. From solar panels to wind turbines and the like, they are cleaner sources of energy, and the installations that you go with will depend on your kind of business. Moreover, this will protect you from the fluctuations in energy prices, since the bills are affected by the availability of fuel, electricity demand, costs that go into generating and distributing it – all of which end up hitting your business in the long run. On the other hand, going off the grid with your own supply of power protects you from this. In fact, if you end up producing surplus energy, you can sell it back to the grid, earning your business extra revenue. 

Sure, the upfront costs of setting up the systems will take a sizable chunk out of your budget, but the savings allow you to recoup the costs over time. In addition, there will be savings from the incentives being provided by the government, such as tax rebates and grants. These are the likes of the Solar PV Grant from SEAI (Sustainable Energy Authority of Ireland) which is at €900 per kWp, capped at €2400 for each business. Funding is available for homes, community programs and commercial buildings such as  Collinstown Park School that was able to slash their lighting costs by a whopping 90% after securing 50% of the funding for their energy upgrade project from SEAI. The ecoVaro EMS comes with support for solar power installations in its firmware, that way you can continue assessing the changes that your solar power system will bring to your overall energy usage.

Spread awareness

You should also carry out energy conservation training for your staff. The reports generated by the EMS will make it easy for them to get a picture of their energy consumption trends, and the effects that it has on both the performance of the company, and the carbon footprint as a whole. It also gives them more awareness of the impact that they each have at an individual level. 

Assessing Key Performance Indicators

The energy analytics tools from the EMS will show you whether you are actually meeting your goals. Since it works with the different metered connections, from getting electricity and temperature readings, checking radiation levels, humidity data all through to gas meters, you will be able to assess the progress that your business is making across the board. 

For ecoVaro in particular, the performance of your systems can be seen through reports like Consumption Charts – from the different offices, tenants and equipment energy usage, peak -and off-peak data, as well as Regression Charts that allow you to compare building’s actual energy consumption to its expected performance, and how they are affected by variables such as temperature. 

With the site-by-site data and the monitoring being down to the sub-meter level, you will be able to identify an issue when it crops up and narrow it down to the specific instant and location where it occurred. This enables you to address the problem quicker.   

Conducting a compliance audit

A comprehensive audit can then be undertaken to ensure that your company meets internationally-recognized standards that have been stipulated regarding implementing energy management systems and enhancing the energy efficiency of your operations. The compliance audits are carried out by certified auditors.

Through the EMS, you are able to position your business appropriately to meet the standards for your particular niche, measuring and observing the performance of energy-saving projects that have been implemented. This extends to acquiring and presenting data that will be used to show the business’s compliance to industry regulations and obtain the relevant certification. You are able to report on your carbon footprint, and verify it. This information can also be disseminated amongst your employees and customers, raising awareness about your business green initiatives, boosting your brand in the process.

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