[BCM] [BT] [E3] [PD] [CBF] [4] Billing, Finance and Vendor Management

Business Continuity Recovery Procedure

CBF-4: Billing, Finance & Vendor Management

The CBF-4: Billing, Finance & Vendor Management function is one of the most critical pillars supporting the operational and financial stability of Bandtree.

As a government-linked company (GLC) responsible for managing strategic real estate and infrastructure assets in Brunei Darussalam, maintaining uninterrupted financial operations is vital not only for internal governance but also for national accountability and stakeholder trust.

This chapter outlines the continuity and recovery procedures for all key finance-related functions, including customer billing, payment collection, accounts payable, financial reporting, vendor management, and regulatory compliance.

The function ensures that revenue streams are protected, contractual obligations are met, economic data is accurately processed and reported, and that the company can sustain essential vendor relationships under all circumstances.

Through structured pre-crisis preparedness, rapid response within the first 24 hours of a disruption, and complete recovery strategies post-disruption, Bandtree aims to safeguard its financial operations and uphold fiduciary responsibilities even under adverse conditions.

WHAT: Overview and Importance

CBF-4 Billing, Finance & Vendor Management encompasses key financial and operational processes vital to the stability and credibility of Bandtree.

These include customer billing, payment collections, financial reporting, vendor relationships, and regulatory compliance.

The integrity and continuity of these functions ensure that the company can meet its financial obligations, sustain operations, and maintain trust among clients, vendors, and regulatory bodies.

Sub-CBFs under CBF-4 include:

• 4.1 Customer Billing & Invoicing
• 4.2 Payment Collection & Reconciliation
• 4.3 Accounts Payable (AP) Processing
• 4.4 Financial Reporting & Budgeting
• 4.5 Vendor Onboarding & Contract Management
• 4.6 Regulatory & Compliance Management
• 4.7 Insurance & Risk Financing Administration

PRE-CRISIS (READINESS & PREPARATION)

Proactive measures to ensure financial and vendor operations can continue seamlessly in the event of a disruption.

To mitigate operational and reputational risks associated with billing, financial operations, and vendor management, Bandtree must take a structured approach to readiness.

The following measures are to be established and reviewed regularly.

HOW: Implementation Steps

1. Data Protection, Backup & Accessibility

• Daily Automated Backups
  Ensure all systems related to billing, finance, and vendor data are backed up automatically at the end of each business day.
• Offsite and Cloud Storage
  Implement dual backup solutions: one stored securely offsite (e.g., secondary data centre) and another using encrypted cloud services.
• Data Recovery Testing
  Conduct quarterly testing of backup restoration processes to ensure system integrity and data availability.
• Access Control and User Privileges
  Maintain strict user access control policies to prevent unauthorised access. Ensure that all access to finance systems is role-based and auditable.

2. Critical System Inventory and Dependency Mapping

• System Inventory List
  Maintain an updated list of all software platforms used in the finance and billing functions, including:
  • ERP/accounting software
  • Payment gateways
  • Invoicing platforms
  • Vendor and contract databases
• Interdependency Matrix
  Document dependencies between systems (e.g., how customer invoicing integrates with AP processing or financial reporting). This helps prioritise recovery order.

3. Alternate Work Arrangements

• Remote Access Capability
  Equip key finance team members with secure laptops and pre-configured VPN access. Validate remote access monthly.
• Redundant Work Locations
  Identify an alternate recovery site (or remote work model) where billing and finance operations can resume if the headquarters is inaccessible.
• Digital Workflow Continuity
  Establish cloud-based or shared drive solutions to enable continuous workflow and document sharing during a crisis.

4. Vendor and Bank Preparedness

• Contact Registry
  Maintain an updated emergency contact registry for:
  • Key vendors and suppliers
  • Banking relationship managers
  • Financial auditors
  • Regulatory and compliance contacts
• Service Continuity MOUs
  Where feasible, develop Memoranda of Understanding (MOUs) or Service Level Agreements (SLAs) with strategic vendors and banks that include BCP clauses.

5. Financial Contingency and Approval Protocols

• Manual Payment Process
  Define a manual payment approval process for urgent disbursements if online systems are unavailable. Include designated signatories and paper-based forms.
• Emergency Fund Reserve
  Maintain a designated emergency reserve or contingency account accessible during crises, with documented withdrawal procedures.
• Alternate Billing Methods
  Develop manual invoice templates and workflows to issue bills and track receivables in the absence of automated systems.

6. Human Resources and Role Redundancy

• BCP Role Assignments
  Assign BCP roles and responsibilities within the finance and vendor teams (e.g., team lead, recovery liaison, manual processing executor).
• Cross-Training Key Personnel
  Cross-train at least two staff members for each critical sub-function to reduce reliance on a single individual.
• Team Contact Tree
  Establish a communication cascade plan (phone/email tree) for activating finance teams in emergencies.

7. Awareness, Training & Drills

• BCP Orientation and Training
  Conduct onboarding sessions for new finance team members on the continuity plan and crisis procedures.
• Annual Simulation Exercises
  Conduct mock disruption drills to simulate financial system failures, testing remote billing and accounts payable (AP) operations.
• BC Plan Document Accessibility
  Store updated BC Plan documents (both hardcopy and digital) in accessible, secure locations that are known to all relevant team members.

8. Regulatory and Insurance Readiness

• Regulatory Filing Calendar
  Maintain an annual compliance calendar with filing deadlines and responsible persons to avoid regulatory breaches during disruptions.
• Insurance Policy Review
  Ensure all financial loss, operational disruption, and risk financing insurance policies are current, with BC Plan-related clauses reviewed annually.
• Claim Process Documentation
  Keep step-by-step guidelines for submitting insurance claims readily available to finance staff.

9. Communication Protocols

• Crisis Communication Templates
  Prepare pre-drafted messages for clients, vendors, and stakeholders addressing billing delays, payment issues, or operational impacts.
• Internal Communication Channels
  Designate specific platforms (e.g., Microsoft Teams, SMS, WhatsApp) for the finance team communications during disruptions.

Summary

By investing in structured pre-crisis preparation—including data security, system redundancy, team readiness, and vendor collaboration—Bandtree fortifies the continuity and reliability of its financial and vendor management functions.

This ensures uninterrupted service delivery and financial governance, even under challenging circumstances.

WITHIN T+24 HOURS (RESUMPTION)

Objective: Restore the most critical finance and billing operations as soon as possible after the disruption to ensure business continuity and uninterrupted financial flow.

During the first 24 hours following a disruption, the focus is on rapid stabilisation and resumption of essential financial activities to mitigate operational, reputational, and financial risks.

This phase emphasises activating the recovery team, enabling minimum viable operations, and prioritising functions that are time-sensitive or revenue-impacting.

HOW: Implementation Steps

1. Activate the Finance Recovery Team (FRT)

• Trigger Emergency Notification Procedures
  Notify all designated recovery personnel using the pre-established contact tree.
• Initiate FRT Roles and Command Structure
  Assign team leads for each sub-function: billing, collections, accounts payable (AP), reporting, and vendor management.
• Confirm Availability of Key Staff
  Identify who is available (on-site or remote) and reallocate responsibilities as necessary based on availability and access.

2. Assess Damage and System Impact

• Initial Situation Assessment
  Collaborate with IT to determine the scope of system or infrastructure failure impacting finance functions.
• Check Power, Connectivity, and Application Access
  Verify access to critical systems (ERP, billing systems, vendor database, email, and banking platforms).
• Determine Availability of Backups
  Confirm the existence, integrity, and timestamp of the latest financial data backups.

3. Prioritise and Resume Critical Sub-CBFs

• Restore Most Critical Processes First
  Prioritisation based on financial continuity and legal obligations:
  • Customer Billing and Invoicing – Ensure bills are issued promptly to maintain a healthy cash flow.
  • Payment Collection & Reconciliation – Resume receivables tracking and collections to avoid revenue leakage.
  • Accounts Payable (AP) Processing – Resume urgent payments, especially for critical vendors or penalties.
• Use Manual Workflows if Necessary
  If systems remain down, implement pre-developed manual processes (e.g., spreadsheet logs, offline invoice templates, manual reconciliation logs).

4. Enable Secure Remote or Alternate Site Operations

• Switch to Remote Work Mode (if required)
  Instruct finance staff to work remotely using VPN-secured devices and pre-distributed credentials.
• Utilise Alternate Site Resources
  If Bandtree HQ is inaccessible, relocate essential finance staff to the designated backup location with access to required infrastructure.

5. Communicate with Stakeholders

• Internal Stakeholders
  Update management, finance leadership, and the crisis response team on progress, issues, and expected restoration timelines.
• Clients and Customers
  Send notifications (using pre-approved templates) to inform of any delays or temporary invoice and payment arrangements.
• Vendors and Contractors
  Communicate any temporary limitations in payment processing or contract servicing. Negotiate grace periods if required.
• Banks and Financial Institutions
  Coordinate with banks on continued access to funds, cheque processing, and emergency transactions.

6. Financial Control Measures

• Implement Temporary Approval Workflows
  Route urgent financial approvals through alternate signatories if standard systems are down.
• Track All Manual Transactions
  Maintain a comprehensive log of all manual transactions executed during the downtime for future audit and reconciliation purposes.
• Safeguard Financial Documents
  Ensure that physical and digital documents processed during the disruption are securely stored and backed up when systems return to normal operation.

7. Address Compliance and Legal Requirements

• Notify Regulators If Required
  If compliance deadlines are impacted (e.g., tax filings, budget reports), send formal notices to the relevant regulatory agencies.
• Document Exceptions and Deviations
  Begin compiling records of any process deviations, compliance risks, or data gaps caused by the incident for later review.

8. Monitor and Re-Evaluate Situation

• Establish a 4-Hourly Reporting Schedule
  Recovery leads provide updates on the resumption status, any issues encountered, and the next steps.
• Flag Outstanding Issues for Recovery Phase
  Identify any dependencies or functions requiring escalation to complete restoration (After T+24 Hours).

Summary

During the first 24 hours post-disruption, Bandtree's focus is on quickly restoring essential billing, collections, and payment operations, even if this requires manual workarounds.

Through a structured recovery team, clear communication protocols, and prioritisation of high-impact financial processes, the company ensures the continuity of financial inflows and outflows while stabilising operations for the complete recovery phase.

AFTER T+24 HOURS (RECOVERY)

Objective: Fully restore all finance, billing, and vendor management operations to normal, resolve any outstanding issues, and implement improvements based on lessons learned.

Beyond the initial 24 hours following a disruption, the focus shifts from emergency resumption to stabilisation, complete operational restoration, reconciliation of interim actions, compliance assurance, and readiness for future incidents.

This stage ensures that Bandtree regains complete financial control, meets regulatory obligations, and strengthens financial resilience.

HOW: Implementation Steps

1. Full System Restoration and Validation

• Restore All Systems and Interfaces
  Bring all financial systems, applications, databases, and integrations back online. Confirm interconnectivity between billing systems, accounting software, vendor portals, and banking platforms.
• Conduct System Integrity Checks
  Run tests on restored systems to verify data accuracy, access control, and processing functions.
• Migrate Data from Manual Logs
  Re-enter or import manually recorded data into official systems with audit trails. Ensure manual actions from the first 24 hours are fully integrated.
• Resume Scheduled Processes
  Restart recurring activities (e.g., monthly closing, reporting cycles, invoice batch runs, automated payments).

2. Reconciliation and Documentation

• Reconcile All Transactions
  Match manual billing, payments, and collections conducted during the disruption against system records.
• Clear Backlogs
  Process any queued transactions such as unpaid invoices, pending vendor payments, or paused reconciliations.
• Document Incident Impact
  Compile a detailed report on:
  • Downtime duration and root cause
  • Financial impact (delays, penalties, missed collections)
  • Regulatory breaches or delays
  • Manual processes executed and deviations from SOPs
• Submit Internal Reports
  Share incident documentation with Finance Management, Risk Management, and Compliance for formal review and approval.

3. Client, Vendor, and Regulator Resolution

• Client Communication & Rectification
  Notify customers of system restoration. Issue corrected or delayed invoices with explanatory notes, if applicable.
• Vendor and Supplier Coordination
  Reconfirm payment status, address delayed or disputed transactions, and renegotiate payment terms if needed due to delays.
• Regulatory Filings and Recovery Disclosures
  File delayed reports (e.g., financial statements, tax declarations) with accompanying incident justifications to regulatory bodies.
• Track Fines and Penalties
  Monitor any penalties or non-compliance consequences, and report them to Legal and Risk teams.

4. Insurance and Risk Financing

• Evaluate Disruption-Related Costs
  Tally additional costs incurred, such as emergency staffing, equipment rental, penalties, or client compensation.
• Initiate Insurance Claims
  Work with the Insurance & Risk Financing Administration (Sub-CBF 4.7) to file claims under relevant policies (e.g., business interruption, cyber liability).
• Track Claim Progress
  Maintain clear documentation of all claims, communication with insurers, and reimbursement receipts.

5. Compliance Restoration and Audit Preparation

• Reinstate Compliance Schedules
  Resume internal audits, external reporting, and regulatory submissions per original timelines.
• Internal Audit Readiness
  Prepare for post-incident audits by compiling system logs, manual logs, communications, and all reconciled data.
• Update Financial Risk Assessments
  Reassess financial risks in light of the disruption experience, and document any new vulnerabilities that are discovered.

6. Business Continuity Plan Review and Enhancement

• Conduct Post-Mortem Review
  Organise a debrief session with all involved finance, IT, and vendor stakeholders to review:
  • What worked well
  • What failed or was delayed
  • Process bottlenecks
• Update Procedures and Playbooks
  Revise the CBF-4 recovery procedure and related Standard Operating Procedures (SOPs) to address the gaps identified during the incident.
• Improve Recovery Tools and Resources
  Invest in automation tools, cloud solutions, or additional training identified as necessary during the recovery process.
• Schedule BCP Training Refreshers
  Conduct updated training sessions based on new protocols and lessons learned.

7. Strategic and Operational Readjustments

• Adjust Budget Forecasts
  Reflect any financial impact from the disruption (e.g., delayed revenues, emergency costs) in current and future budgeting cycles.
• Evaluate Vendor Continuity Performance
  Review vendor responsiveness and support during the disruption. Reassess SLAs or consider alternate providers if necessary.
• Strengthen Financial Resilience Measures
  Based on the recovery experience, consider:
  • Increasing contingency reserves
  • Revising approval thresholds for emergencies
  • Strengthening redundancy in payment and billing platforms

Summary

The post-24-hour recovery phase ensures that Bandtree returns to full financial and operational capacity while addressing residual impacts, ensuring regulatory compliance, and implementing improvements.

Through structured restoration, reconciliation, and review, this phase reinforces financial continuity and future readiness, solidifying the organisation’s resilience in line with its national infrastructure role.

Summing Up ... 

The ability to maintain and swiftly recover billing, finance, and vendor operations during a crisis is essential to preserving Bandtree’s financial health, compliance posture, and service continuity.

By executing the strategies outlined in this chapter—from readiness and emergency resumption to full recovery—the organisation strengthens its capacity to weather disruptions while protecting cash flow, mitigating risk, and sustaining stakeholder confidence.

Continuous review, staff training, and system improvements will ensure this critical business function remains resilient and responsive, reinforcing Bandtree’s commitment to operational excellence and national infrastructure stewardship.