The importance of a disaster recovery plan cannot be overstated. Many business leaders may consider a disaster to be a hurricane, tornado, flood or earthquake. However, the truth is a disaster is any event that prevents a business from accessing the data and systems it requires to operate, including regional power outages, cyberattacks, human error, employee sabotage and hardware failure. Every company faces the risk of IT interruptions that can grind business to a halt, risking high financial costs, reputation loss or even greater risks for you and your customers.
Below are 8 reasons your business should consider a Disaster Recovery Plan.
1. Because your business cannot afford any downtime. 20% of businesses experience a failure (fire, flood, power outage, natural disaster, etc.) in any given year, and 80% of those businesses will go under in just over a year.
2. Because your customers and potential customers expect it. The average consumer now expects the information they want to access to be available whenever it is convenient for them. Downtime means a lack of availability to your customers and a loss of business in the immediate and possibly long term.
3. Because you have spent a significant amount of time and money building your reputation – you need to protect it. Downtime and lost data can ruin reputation, brand and ultimately diminish trust that can result in lost revenue.
4. Because nature is unpredictable. Businesses that don’t have a backup and disaster recovery plan in place can find it almost impossible to resume operations after a major disaster hits. An estimated 80% of all companies that experience a business interruption of greater than five days, without recovery plans, go out of business.
5. Because machines and hardware fail. While we’ve made huge strides in the reliance of our technology, it’s still not perfect and is bound to have issues here and there. You can buy the best equipment on the market but that does not safe guard you from malfunctions, lemons and breaks. Although it may be expensive for your company to eliminate any single point of failure in your IT infrastructure, it is really the only way you can be sure that a hardware failure will not interrupt your service or cause data loss. We recommend all our clients to back up their data regularly, ideally using our highly secure managed hosting services. This will help to eliminate any interruptions in case of IT infrastructure failures.
6. Because we live in a 24/7 world that requires ‘always on’ capabilities. 72% of web users report abandoning a company website for a competitor’s due to frustrations with the website . If a website goes down, online shoppers are not willing to wait for the unknown time at which the site will be back online. If you aren’t protecting your internet and network you could end up sending your business straight over to your competitors.
7. Because you can’t predict what data might be lost and the value it had to the running of your company. 43% of companies were immediately put out of business by a “major loss” of computer records, and another 51% permanently closed their doors within two years — leaving a mere six percent “survival” rate.
8. Because humans make mistakes. While this is among some of the hardest mistakes to prevent and correct, ensuring your data is regularly backed up lets you restore it to an error-free state. 80% of unplanned outages are due to ill-planned changes made by administrators and 60% of availability and performance errors are the result of misconfiguration.
For help with your DR planning, call BCN Group on 0345 095 7000.