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One Year Later

Security concerns and spending become more of a corporate way of life as companies begin to take on the harder challenge of real systemic change

By Dave Lindorff | Updated on September 01, 2002

In the weeks following the Sept. 11 terrorist attack on the World Trade Center and the Pentagon–that is, after the initial shock wore off–there was a widespread expectation that companies like Schlumberger Sema, which provides back-up operations and business continuity office space for financial companies, should be besieged with new business. After all, as of 9/11, only some 20% of financial institutions even had continuity plans in place.

But in fact the exact opposite was the case. “People decided after the bombing to take a breath. Those who were revising their plans when it happened stopped to re-examine them. Those with no plans decided to start thinking about it,” recalls John Kersley, Schlumberger Sema’s vice president for business continuity. “It’s only this year”–specifically in the last couple of months–”that things have suddenly started to pick up. We’ve been looking at double-digit growth since then, and our firm has had to double its capacity.”

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