We all hear the horror stories of disaster: an uninsured home struck by an earthquake, an Injured child without health care, and a business destroyed by Ransomware. We all think "that won't happen to me," and instead of taking precautions to proactively secure ourselves against disaster, we ignore it.
As a business in the 21st Century, you can no longer afford to "ignore" the possibility of disaster striking. No matter the industry your business is in, a Disaster Recovery Plan is essential to ensuring the safety of your company's data, among other assets. Whether your business is hit with unplanned downtime, a Ransomware attack, or hardware failure, your disaster recovery plan should be a tried and true procedure for getting your business back online.
Without a plan, if your daily operations are disrupted, you run the risk of lost productivity, sales and revenue. If this sound like something you want to avoid, read on for more reasons why you need a Disaster Recovery Plan.
In 2017, the likelihood of your company facing a disaster is higher than ever before. With Ransomware on the rise (already a $1B cybercrime industry), something as seemingly harmless as an email attachment can contain a malicious virus that halts your company's proceedings. Data breaches, however, are not the only hazard you have to worry about. There are countless natural and man-made disasters that could have the same affect.
In any industry, if there is a disaster that hinders your ability to conduct business, you are not only at high financial risk, but your reputation can also face serious damage. You are also more likely to experience:
- Employee risks
- Job security risks
- Business risks
- Data loss risks
These can easily be avoided by implementing a Disaster Recovery Plan, allowing you to be PROactive instead of REactive.
Preparing for Disaster
The best way to get ahead of risks is to implement strategies to prepare for them. With Downtime the #1 enemy for businesses, developing goals for getting back online can help to give your plan a foundation. It is also important to understand what disasters your company is vulnerable to. Luckily for you, we’ve already done the research on the four main causes of downtime:
- Natural disasters
- Software failures
- Hardware failures
- Human error
Each of these events can cause the dissolution of your business without proper preparation; and each event needs to be evaluated in terms of its risk to your business. If you would like to understand how to avert these specific problems, you can request a Complimentary Vulnerability Assessment, here.
Costs of a Disaster
According to Vertiv, (previously known as Emerson Network Power) the average cost per minute of a data outage is $8,851. But the damage doesn’t stop at lost revenue. While suffering from downtime, you can experience loss of reputation, trustworthiness, and employee productivity, as well.
To top it off, with your company down, your potential customers are going to your competitors. Current customers soon become fed up, and lose faith in your ability to provide them with the service you promised, forcing them to move to your competition as well. A domino effect that could have been avoided if you invested in a backup and disaster recovery solution previously.
Backup and Disaster Recovery
To be quite frank, it is unacceptable to not have a Disaster Recovery solution in place nowadays. You can lose your job over not being prepared for a disaster, because you have the company’s well-being in the palm of your hands. Would you be willing to bet your job that you are completely prepared for a cyber-attack, a system failure, a natural disaster, or even a loss of mission-critical data?
There are a lot of threats that can put your company in a downtime headlock. These threats, however, can be easily avoided with the implementation of the right backup and disaster recovery (BDR) plan. You can make sure that your plan includes all threats relevant to your business by completing this Business Impact Analysis template. With that, you will be able to create a Mitigation Strategy that will outline how you are going to protect yourself from the events threatening your business.
But Before You Do That!
As mentioned above, this post is a subset of our Disaster Recovery Guidebook, which you can download below. Within the guidebook, you will get a more in-depth look into Disaster Recovery, with solutions to all of the problems addressed earlier. Finally, you can get your hands on an all-encompassing Disaster Recovery eBook!