Many small businesses operate with a sense of unrealistic optimism regarding data loss and disaster recovery. However, the actuality can be considerably different and can negatively affect your business if you’re not vigilant. As technology increases, so do the risk of data loss. Can your business afford such a costly incident?
It doesn’t matter if data loss happens because of human error, cyberattack, or natural disaster. It can have far-reaching consequences such as:
- Severe downtime:
For SMBs, per-hour downtime costs vary from $10,000 to $50,000.1 - Damage to your company’s reputation:
One-third of customers will end their association with a business following a severe data loss.2 - Regulatory penalties:
Failure to protect data can draw penalties worth 2% to 4% or more of company turnover. - Permanent closure:
Some businesses are unable to recover financially from an incident and close permanently.
Prioritizing backup and disaster recovery for your business is significant. A robust backup and disaster recovery plan implements secure, uninterrupted backup and quick data recovery — with a cloud-based structure that assures the company runs seamlessly in the event of any disaster.
Key Terms Used in Backup and Disaster Recovery
The following terms will give you an idea about the type of actions and processes you should aim to implement within your business:
• Minimum Business Continuity Objective (MBCO)
MBCO signifies the minimum level of output needed after severe disruption to achieve business objectives.
•Maximum Tolerable Period of Disruption (MTPD)
MTPD is the duration after which the impact on a business caused by minimal or zero output becomes intolerably severe.
•Recovery Time Objective (RTO)
RTO is the time it takes before employees can start working after a data-loss event. (Measured in minutes)
• Recovery Point Objective (RPO)
RPO is the amount of work that can be lost and will need to be done again after a data-loss event. (Measured in seconds)
Deploy Backup and Disaster Recovery Today
Having an effective backup and disaster recovery solution provides several benefits. Here are the six advantages:
- Shield your business against natural disasters
The first half of 2020 alone had close to 200 reported natural disasters. While it’s impossible to stop a natural disaster, you can ensure your data is protected and take the necessary measures to prevent downtime. In Texas, predominantly South Texas, hurricane season is a big issue. - Decrease the result of a cyberattack
With the rate of cyberattacks going through the roof and small businesses being a constant target of attacks, it is necessary to have a robust backup and disaster recovery solution to protect your business. - Safeguard sensitive data
If your business handles sensitive data like Personally Identifiable Information (PII), measures must be taken to ensure it never ends up in the wrong hands. Safeguarding all crucial data can establish your business’s reputation and prevent regulatory penalties. - Quick recovery
It doesn’t matter how a disaster strikes. What matters is how quickly your business bounces back. A good backup and disaster recovery solution helps your business get up and running as soon as possible. - Lessen the impact of human error
From accidental or intentional misdelivery or deletion to data corruption, employees can pose a considerable security threat to your business. Deploying backup and disaster recovery is, therefore, imperative. You must also train your employees on the difference between acceptable and unacceptable behavior. By training your employees, data loss can be prevented and save substantial business money. - Get ahead of system failure
Sudden system failure can lead to costly downtime if you don’t implement a backup and disaster recovery plan for your business.
Remember, it’s your responsibility to protect your business from data loss and its turbulent aftereffects. If you can’t handle this alone, don’t worry. We’re here for you. With our backup and disaster recovery solutions, we can help build a resilient strategy to protect your business against data loss and give you much-needed peace of mind in the event of a disaster. Give us a call to find out how your business can benefit significantly from our backup and disaster recovery plan.
855-647-3835 or info@phxtc.com
Article curated and used by permission.
Sources:
- TechRadar
- IDC Report
- GDPR Associates
