96% of Companies with a Disaster Recovery Solution Recover Fully
It's time to consider a business continuity and disaster recovery plan.
What is BCDR?
Business continuity (BC) and disaster recovery (DR), or BCDR, are core to your organization’s resiliency. After all, threats to your business come from all angles – natural disasters, cyber-attacks, and yes, even COVID. As a result, a BCDR plan is critical to sustaining your business.
Every organization, large or small, depends on technology. It drives customer interactions, supports remote workers, and keeps plant floors operating. Consequently, any business disruption negatively impacts your business.
Take downtime losses, for example. Gartner cites downtime costs at $5,600 per minute on average. That translates to an average of $300,000 per hour. For a small business, downtime can cost $8,000 per hour.
Unfortunately, many organizations have no idea what downtime costs them. You get a better notion of downtime and its impact on your company using this formula:
Downtime cost = minutes of downtime x cost-per-minute
If you have a small business use $427 as cost-per-minute. Medium and large businesses use $9,000.
BCDR Isn't Just About Recovery. It's About How Fast You Can.
Because downtime has such significant cost ramifications, speed is critical to recovery. And that’s where a BCDR plan can be a lifesaver. Unfortunately, a great many businesses still don’t get it.
Here are two sobering facts:
Any good BCDR plan considers how to restore your IT operations and restore them quickly. After all, when minutes cost you thousands, speed is of the essence.
Our BCDR Solutions Get You Back in Play Quickly
Fortunately, you don’t have to go it alone when it comes to business continuity and disaster recovery. We focus our attention on Recovery Point Objective (RPO) and Recovery Time Objective (RTO). In combination, you’ll not only get a recovery plan that restores business functions but also a plan that accelerates your recovery to reduce business impact.
We start by identifying essential business aspects. Next, we’ll work with you to determine acceptable downtime limits. In addition, we’ll include review and document third-party reliance as part of your BCDR plan. Plus, we’ll conduct risk mitigation and communication requirements.
And, of course, we’ll provide solutions for technology outages and backup using on-premises and cloud solutions. You can learn more about data backup here.
Benefits of Business Continuity and Disaster Recovery
Simply put, too many things can go wrong when it comes to protecting data. Hardware failure accounts for 40% of data losses. Human error accounts for 29% of information loss. Throw in cyber-attacks, and the stakes are too high to forgo a BCDR plan.
Apart from keeping your business in operation (40-60% of companies never reopen after data loss), business continuity and disaster recovery offer other benefits.
5 Benefits of a BCDR Plan
Free eBook Download
4 Business Continuity Planning Essentials
Don’t wait until your hard drive fails and you’re facing downtime. Start your BCDR plan today. This book will help you understand essential elements.