Vision in Strong Recovery Position Following Covid-19 Crisis

The COVID-19 crisis caught many organisations off guard, challenged established ways of working, and put recovery plans to the test. The extraordinary nature of this crisis has caused uncertainty and posed challenges to recovery.

As a world-leading textile company, sourcing and distributing textiles to some of the largest brand names, Vision has always maintained a strong Business Continuity Plan that follows the principles of ISO 22301, ensuring strong crisis management and recovery plans.

Vision was recently assessed by Marsh, a world leading insurance broker and risk adviser, who surveyed 117 businesses to measure how prepared organisations were to initiate recovery from COVID-19. Findings from Marsh’s Recovery Readiness Assessment survey highlight how organisations are now focussing on their recovery following the pandemic lockdowns in the UK and around the world.

Industry Averages
The survey covered three main areas to assess average levels of preparedness:

  • Recovery Planning – was the weakest area of preparedness, with an average score of 63%
  • Return to Workplace Planning – was the strongest area of preparedness, with an average score of 73%
  • Business Restoration – in this module, organisations scored an average of 65%

Vision’s Performance
Across all three areas, Vision was scored well above average resulting in an overall preparedness score of 92%, in comparison to the average score received across all organisations of 68%. Of those who participated, Marsh have quoted Vision as best in class.

From the point COVID-19 began to pick up momentum, Vision has closely monitored the situation and has continued to adapt. Throughout the pandemic, Vision has remained open to service customers around the world, including supporting the NHS through the commercial laundries, and both the MOJ and the MOD with their textile needs.

Going forward, Vision strives to continually improve its recovery readiness throughout COVID-19 and other possible crises through preparing and improving its recovery planning, return to workplace planning and financial planning, putting the business in the strongest possible position.