The impact of downtime in business can sometimes be overlooked. If the power in your office fails tonight, and all of your systems and servers go offline, how quickly can you recover? And perhaps more importantly, at what cost?
It can be difficult to pinpoint the exact damage that would occur should any unplanned downtime arise – especially when you consider non-tangible costs like damage to your brand and reputation. The following formula will help you to assign commercial value to these risks.
Total Cost of Downtime =
(Lost Revenue per hour + Lost Productivity per hour)x(Length of Downtime in hours)
+ (Cost to Recover)
+ (Cost of Intangibles)
A business continuity plan will help to prevent this cost, yet a study done by The Diffusion Group estimates that only 60% of businesses have a backup plan in place! This puts 40% of small-to-medium sized businesses unprotected and at risk.
There are many different backup solutions on the market to protect your digital information. It is good to have a backup plan in place, but like machine oil, not every oil works for every machine. Using external hard drives, tape-drives, or USB thumb drives, are solutions we've seen used, but they aren't very good solutions for a real business continuity model.
We have found that when it comes to data protection, the Backup Disaster Recovery (BDR) solution to be the most reliable and secure solution on the market. BDR continuously backups your data off site, this eliminates the threats from fire, flood, theft, and whatever else is hurled your way. If a disaster does strike, big or small, BDR can act as your network and keep your operations in working order.
By understanding the true cost of downtime in your organisation, you can make the right choices when investing in your business continuity solution.