Can A Business Continuity Plan Save Your Reputation?

Reputation Management is a hot topic in the boardroom these days. Having a solid business continuity plan could make or break your company’s ability to survive a data breach or other systems failure that could tarnish your hard-earned reputation. Company news about data loss, systems downtime and other unplanned interruptions occur with regularity. According to technology research firm Gartner, a business that has a catastrophic data event has a two-year survival rate of just 6%. Surprisingly, your company can avoid these scenarios by having a solid BC/DR Plan. It is no surprise that recent research by MarketsandMarkets forecasts the spend on DR as a Service (DRaaS) to grow from $1.68 Billion in 2017 in revenue to $11.11 Billion by 2020. Read on to find out how a Business Continuity Plan could save your business. Understand Your Business Continuity Risk and Exposure A great place to start with Business Continuity planning is a review of your company policies and procedures. Your business continuity policies should — in addition to identifying the technical standards for managing your company’s applications, data, and related infrastructure — should identify acceptable risk, what your employees will do in a disaster recovery scenario, and identify any compliance requirements. It is important to understand what information is most important and to consider the risks of suffering a data loss. What would be the impact to your revenue, productivity and reputation? If you could not access your information, or it was subject to data breach, how may that impact your customers’ trust and your business’s reputation? An Ounce of Planning is Worth a Pound of Cure Ensure you...

Reducing Business Risk with Backup and Disaster Recovery

Does your business have a backup and disaster recovery plan? Businesses of any size should know which applications–and their associated data–they rely on and what the cost of interruption would be in the event of an unintended disruption. Cyber Threat, natural disasters, and systems failures may impact your business; however, human error is said to be the top cause of data breach (58%), ahead of technology errors. To avoid unnecessary downtime, here are some questions to ask to help assess your backup and disaster recovery plans. Assess the Risks of Data Loss and System Downtime With Backup and Disaster Recovery there is always a balance between cost and risk. To allocate your technology spending, it is important to focus on your areas of exposure. Maybe your business relies heavily on an order-processing and invoicing system, or perhaps a manufacturing and inventory control system. If these systems go down you may lose revenue and productivity from employee idle time.   You may also have intellectual property that is important to your business. What would be the consequence if this data was lost and could not be recovered? You may also have compliance exposure, if you suffered a breach of privacy or other data that should be encrypted was exposed. Assessing your risks and ranking the exposure is an important step to evaluate your backup and disaster recovery plan priorities. Not all Backup Plans are Alike For systems you rely on heavily, you may consider having an offsite failover system in the event of a data loss. This can minimize your downtime by enabling you to rapidly cut over to a...

Can You Afford a Data Loss?

According to the technology industry research firm Gartner Group, ninety percent of companies that experience data loss go out of business within two years. Countless studies indicate the longer the downtime, the greater the risk. More and more businesses are turning to Cloud Backup and collation to ensure their critical data is protected. But how long will it take to restore that data when a disaster strikes? Here are some points to consider to minimize the risk of downtime. Identify Critical Data If you are an online business or rely on retail systems to keep your registers ringing, you could easily calculate the hourly loss due to system downtime. Similarly, manufacturers, distributors, healthcare organizations, and financial services firms all rely on mission-critical systems to keep employees productive and customers happy. How long could your business survive without email? More than likely, not very long. While more difficult to quantify, communications and collaborations are mainstays to employee productivity and interactivity. In addition to direct financial impact, consider the public relations consequence related to data loss. Other files and productivity applications are also important to ongoing operations. However, there is a cost to rapid recovery. Understanding the tradeoffs between costs and how much time it takes to recover will help you balance the risks with the financial constraints. Bullet Proof Your Network Your network is a critical component for data backup and recovery. Some systems may have a backup window of several hours. A high-performance network can reduce the time it takes for backup and recovery. What’s more, an optimized network has less chance of downtime and connection loss. A flaky...

Does Your Business Have a Backup and Disaster Recovery Plan?

Most businesses need a Backup and Disaster Recovery plan.  Disasters like fire, flood, earthquake, and more can bring your systems to a halt. Systems including order processing, invoicing, emails, call center, and business phone are critical for daily operations. Without a Backup and Disaster Recovery plan, organizations that encounter a disaster run the risk of going out of business. Here are some tips for getting your Backup and Disaster Recovery plan in place. Consider Risk of Downtime Understanding your business risk in the event of a disaster–and related downtime, data loss and other factors–is a good place to start. Factor in loss of productivity from your employees. This can be quantified by calculating employee salaries, wages and overhead for every hour of downtime. You can also calculate loss of revenue if you are unable to process orders, have to disrupt manufacturing, or lose the ability to fulfill customer demand. Also, add in any long-term damage from loss of reputation if you were to suffer a long-term outage. These costs easily add up to impact your company’s bottom line in the case of a disaster recovery scenario. Build  Your Backup and Disaster Recovery Plan Not all data is mission critical. Some systems may be more critical than others to get your company back operationally. Determine which systems are most important to your daily operations. Decide how much risk you are willing to take in terms of hours, days or weeks of downtime. Systems that keep your employees productive and revenue flowing in your business may need to take priority. You may need redundant failover for phones, email and order processing...

Business Continuity Planning: How Much Downtime Can You Afford?

Having a Business Continuity Plan is an important way to ensure your company can operate during and after a disaster. By assessing your business risk, you are able to protect your company and minimize downtime that may occur from unplanned business interruptions. Natural disasters including fire, earthquake, flooding and snowstorms can slow or halt operations. In addition, other threats including cyber attacks and data leaks can cause unplanned disruptions to your business. The impact of prolonged unplanned downtime can be reduced and or eliminated, but at what cost? Here are three things to consider when developing your Business Continuity Plan. What is Your Cost of Downtime? To develop a Business Continuity and Disaster Recovery Plan it is imperative to evaluate your risk of loss from downtime and business interruption. There are many factors to consider when calculating the risk of loss due to downtime. How much revenue would you lose per hour, day or week if your business was off line and you were unable to process orders? Could your inventory lose value if your factory, warehouse or retail operation were shut down? If you suffered a privacy breach what would be the impact to your company’s reputation? The risks and costs are different for each company based on industry, size and other factors. Start by assessing the risk to determine how quickly you need to react during and after a disruption. How Fast do You Need to Recover (RTO vs RPO)? The cost of downtime to your business is expensive. It is important to evaluate which applications and data are critical to your operations. During or after a...
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