What would happen if your office burned down? If there was a flood? If your data was compromised by ransomware? Would your data survive? Could your company recover? Do you have a plan? CIOs are asked these questions every day and, often, these questions keep them up at night. Knowing that your company is protected in the event of a disaster is priceless. Especially when we know that a majority of companies that do not have disaster recovery plans will be put out of business when disaster strikes. Other than the obvious benefits of peace of mind and business continuity, having a disaster recovery plan in place will help your business immensely. Here are 5 ways that DR planning can benefit your business:
Healthcare is well on the way to transitioning from paper to electronic documentation. It’s no secret. Most patients can now access health records and talk with doctors online. With the transition, strict regulation has also accompanied this increase in electronic storage and transmission of patient information for the healthcare industry. The passage of the Patient Protection and Affordable Care Act in 2010 further hastened this transition as electronic storage and documentation of patient records became a legal requirement and was no longer optional.
An unexpected natural disaster can set back or even shut down your business if not anticipated in advance and precautionary measures instituted. If your business is in tornado alley (North Dakota to Texas, but even as far east as Ohio and Georgia!) it's susceptible to very high winds and flying debris which may result in serious damage to the buildings and other infrastructure during a tornado. It is important to get your business up and running as soon as possible after a tornado. The longer it takes for your business to resume operations, the more likely it is to ultimately fail. According to the Institute of Business and Home Safety, about 25 percent of businesses do not reopen after a natural disaster.
A disaster recovery strategy is necessary for ensuring the integrity and availability of a company's data in the event of a disaster. A delay in data recovery after a disaster can lead to severe financial losses for the affected company; studies indicate that companies can lose anywhere from $100,000 to $1 million per hour following a data outage. With potential losses this high, it's essential that a company has a solid disaster recovery plan in place to restore data and minimize downtime after a disaster.