Disasters have always been part of the world, but now they come in different forms and affect us in entirely new ways. A few days ago, our little mountain town lost its sole fiber optic line from a spring snow blizzard. The town was out of cell, cable and internet service for two days, causing havoc for business and services. The town had failed to develop a redundant means to provide its technology.
Disasters will happen – it’s only a matter of ‘when’. Surveys show that only one in four companies worldwide have adequate protection in the event of a major disruption. We’re talking about a Disaster Recovery (DR) plan that could save you thousands of dollars in losses or even business closure.
We see it in the news almost every week. The aftermath of the many events in the U.S. is a grim and unfortunate lesson for many reckless business owners who think their companies are spared from the likelihood of severe weather, technological malfunctions, terrorism, cybercrime or other human actions. A 2014 survey by the IT Disaster Recovery Preparedness (DRP) Council reveals just how many companies worldwide are at risk: 73 percent of SMBs are failing in terms of disaster readiness. This means that 3 out of 4 companies aren’t prepared to save their businesses from a disaster scenario.
Disaster Recovery is a plan for restoring and accessing your data in the event of a disaster that destroys part or all of a business’s resources. The job of a DR plan is to ensure that whatever happens, your vital data can be recovered and mission-critical applications will be brought back online in the shortest possible time.
When an unforeseen event takes place and causes day-to-day operations to shut down, a company will need to recover as quickly as possible to ensure you will continue providing services to clients and customers. Downtime is one of the biggest IT expenses that any business can face. Based on 2015 disaster recovery statistics, downtime that lasts for one hour can cost small companies as much as $8,000, mid-size organizations $74,000, and $700,000 for large enterprises.
For the small business, any extended loss of productivity can lead to reduced cash flow through late invoicing, lost orders, increased labor costs as staff work extra hours to recover from the downtime, missed delivery dates, etc. If major business disruptions are not anticipated and addressed today, it’s likely that these negative consequences can have long-term implications that affect a company for years. By having a Disaster Recovery Plan in place, a company can protect itself from the risks of financial loss, reputation loss, data loss, and the negative impact on clients and customers.
The Millennium Group urges you to protect your company from unexpected disasters. We have had to face this challenge ourselves. We can help you get started, straight from our own experience. Contact us and we can brainstorm Disaster Recovery options and solutions with you.