News

Business Continuity Plan Activated due to Covid-19


Q&A – Activation of BCP Plan Effect


What is the current status in regard to Covid-19? Is there/will there be an impact on your business and/or services?


The current status is that all Kodiak Rating personnel are urged to work remotely, and none of our current employees have been affected by the Covid-19 virus. Further information concerning Covid-19’s impact on our organization can be found below. 



Has Kodiak Rating mitigated actions due to the impact of the Coronavirus?


Our organization has taken mitigating measures as listed below. We will continue to keep customers and employees updated on further actions as the situation progresses:


March 6th we activated our business continuity policy, due to the continued developments and impact of the Covid-19 virus, aligned with directives & advice of local & federal agencies. 


March 9th we initiated a travel ban for employees, which covers attendance to conferences. All meetings that can be held remotely, are urged to, should and will be conducted remotely. 


March 16th at 09:30 CET the management team communicated during a company-wide meeting that employees will be asked to work remotely as of March 17th. 



Does Kodiak Rating have a contingency plan in place covering crises?


Yes, Kodiak Rating has a business continuity plan in place, and this plan has been put into effect as of March 6th, 2020.



Have you activated a contingency plan?


As of March 6th, we have activated our continuity & contingency plan. Kodiak Rating executed on our business continuity plan and on March 16 at 09:30 CET the management team communicated during a company meeting that Kodiak Rating will operate remotely as of March 17, and for the foreseeable future until it is safe for our employees to return to a normal mode of operation.


Kodiak Rating operations have, by large, remained unaffected despite the continued development of the Covid-19 outbreak. Our organization has established remote work procedures for teams that normally work on-site in HQ, modeled after procedures used by the parts of the organization that already work within remote contexts.



Will there be a financial impact, if this persists for an extended period of time?


We have not yet seen any financial impact on our business, and we are monitoring the development of this situation upon the economy closely. Being a lean organization, Kodiak Rating has no need to downsize in personnel.


Costs tied to traveling and event attendance have been reduced since a few weeks back and will continue to decrease as we refrain from traveling and physical meetings.



What are your plans to manage shortages (personnel) or other issues (due to a pandemic)?


Staff shortages in Service Operations, Technical Support, and Customer Success would affect our customers the most.


Thus, we have put measures in place, to secure our Service Operations and Tech, first and foremost. We have several possible interim solutions within several other parts of the company to be called upon if needed. If we come to a situation of staff shortages we will move employees between departments. 



Last but not least…


Sending out a beary big Bear Hug to our Kodiak Community. 


Kodiak Rating is and will continue to do everything in our power to ensure stability as a service provider, partner as well as an employer. It’s important that we have perspective of what’s most important in these times of uncertainty and to that effect: 


We wish good physical & mental health to you and your family/friends and urge you to stay informed and take the measures necessary to minimize the continued spreading of COVID19.


Further questions or concerns can be directed to:


Sam Jenks


CMO


sam.jenks@kodiakrating.com