These days, many businesses rely on electronic data for all sorts of tasks and for all kinds of transactions. Which then begs the question, what happens if you lose it all – or even a part of it? Do you have a disaster recovery plan to lean on in case that happens?
The high cost of downtime
Did you know that for small to medium-sized businesses (SMBs), the average cost of downtime is about $12,500? And that’s beside all the headaches you’re bound to get from a steady loss of clients (as your downtime continues) as well as hefty fines and legal exposure that are often encountered.
All this is why, with most (if not all) businesses nowadays that depend on electronic data to support their day-to-day operations and transactions, an effective disaster recovery plan is a necessity.
Increasingly, we see in the use of a wide variety of Cloud-based applications. Email, Accounting, CRM, and Voice applications all commonly operate and exist solely in the cloud in many businesses. What happens if one of those cloud providers suffers from a service failure? Most business owners are surprised to learn that the protection and safeguarding of your data often falls outside of the responsibility of cloud providers. Ironic, right?! Even when in-scope, ensuring that your critical data is truly safe, accessible, and usable in the event of an unforeseen outage is critical.
For many, especially SMBs, outsourcing data recovery is the more efficient and cost-effective way to address disaster recovery. Of course, since we are talking about sensitive and important company data, it is also important to assess several factors that will affect your choice of vendor. We’ve blogged about information ecosystem risk many times! We are regularly involved in industry conferences on this topic. Like this one from the Alternative Investment industry. Several of our key staff are involved at the national level helping define metrics for measuring such things. The point is that we know a thing or two about this/these risks and how to plan for them.
Don’t make the mistake of being unprepared when disaster strikes – and it will, sooner or later, to a degree you can never predict. So it’s best to make sure you take measures to ensure that your data (and therefore business) will always be kept safe, secure, and recent.