Businesses face the risk of disasters every single day. However, many don't have a disaster recovery plan.
We've served as a witness to the nightmare that happens when a natural disaster, cybersecurity incident or equipment failure renders a business helpless. We can't stress enough how important it is for every business to have a clear plan in place.
Downtime Costs Money And Reputation
Every minute a business is down is lost revenue. For instance, if our systems were to completely go down, we wouldn't be able to receive calls or emails from clients and potential customers. Our clients rely on us to be there for them. If we're not, we could lose them. The same goes for potential clients.
However, many businesses believe significant downtime won't happen to them. A quick look at these statistics shows that even a little downtime every year can be costly:
- The average cost of downtime yearly is $1.55 million
- Businesses lose over 500 productivity hours due to downtime yearly
- Average downtime is 14.1 hours yearly
- It takes approximately 200 minutes to solve the average outage.
While the true cost for every business varies, we want to point out that the longer a business is down, the worst the damage. A disaster recovery plan ensures steps are in place to drastically minimize downtime and get a business running as quickly as possible
Some Data Can't Be Recovered
Having a backup solution in place isn't always enough. We've encountered businesses where their backups didn't include all data or some data was corrupted. Another issue we've seen is where businesses don't back up their data often enough. Without a disaster recovery plan in place, businesses may not be able to recover all of their data.
Despite 57% of IT managers having backup solutions in place, 75% of them couldn't recover all data. After a ransomware attack, only 42% of businesses are able to recover using backups.
By testing a disaster recovery plan, it's easy for businesses to uncover issues with backups. With this testing, businesses don't know if their backups work until the worst happens.
Threats Target All Businesses
Ransomware, fires, equipment failures and human error don't pick and choose when it comes to the size of a business or industry. We know businesses want to believe their security and backup solutions will keep them safe. However, proper planning and testing for various disasters are what truly ensures a business is able to recover fully and minimize losses after any disaster.
Is your business prepared for a disaster? Contact ISOutsource today discuss disaster recovery plans for your business.