What are the Costs of Being Hard Down?
What are the costs of being hard down? Do you know? We are in touch with clients day-in and day-out and would say the vast majority do not know.
A failure of a critical application can lead to two distinct types of losses:
Loss of the application service - the impact of downtime varies according to the application and the business;
Loss of data - the potential loss of data due to a system outage can have significant legal and financial implications.
Take this into consideration:
Research indicates that 60 percent of organizations don't have a fully documented disaster recovery plan, while 40 percent of those with a plan admit that it isn't very effective when a disaster does strike.
According to Nationwide's Small Business Indicator about half (49 percent) of respondents said it would take their business at least three months to recover from a natural disaster.
The average business suffers 14 hours of downtime per year, decreasing employee efficiency to 63 percent.
Average resolution time per outage is over 3 hours.
Due to the costs associated with efforts to get systems back and running, companies typically lose an average of 9 hours of IT staffing.
More than half of companies feel outages can damage their reputation, and 18% feel outages are "extremely damaging" to their reputation.
Failure to recover data can result in disastrous outcomes for companies without a disaster recovery plan.
Let's talk about your comprehensive disaster recovery plan. And if you don't have one, let's create one together. Give us a shout today.