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By now, most of you have data backups (tick!) but have you gone a step further and developed a disaster recovery plan?
You may be thinking: but isn’t having backups the same thing as a disaster recovery plan? And while secure backups are certainly an integral part of a Disaster Recover (DR) plan, there’s a few more components that require consideration; with details varying depending on the size and industry of a company. One thing remains consistent for most businesses: if everything is offline, business operations come to a halt, which tends to be a huge burden on many levels. Business Continuity should be a key factor in any DR plan, this is because it plays an important role in creating a resilient business framework, as the downtime businesses experience due to disasters generally has the most devastating financial and reputational impact on the business.
Depending on your industry, the direct effects of downtime could include:
1. Decreased revenue
2. Potential IT recovery costs
3. Negative effects on staff efficiency
4. Supply chain ripple effects
5. Possible cost of staff overtime due to catching up on missed work.
Then you have the indirect effects of downtime, including:
1. Customer dissatisfaction
2. Employee stress/consequences of downtime
3. Reputation damage.
As you can see from the chart below, the majority of businesses are seeing costs of up to $100,000—and sometimes even $500,000—due to a single downtime incident. Have you had a chance to stop and consider how much downtime your business could really afford? Here’s a calculator you can use to estimate the cost of downtime to your business.
So now that you know the potential impacts to your business, how do you create an effective disaster recovery plan that’ll see you through the hard times? There’s a few ways businesses go about it, and everyone’s different depending on what’s important, and areas most impacted. It is always our advice that businesses work closely with IT Providers to come up with a disaster recovery plan. It’s important that you first consider key aspects of your business with regards to a what will happen if downtime were to occur – we’ve made this quick checklist to spark you on in ensuring you’ve thought about important factors when working through prepping for a solid disaster recovery plan.
Your next move is to partner with an MSP to create a solid disaster recovery plan – or even check in with your current provider to ensure the one you have in place is up-to-date and efficient. Reach out to our team for some help using the contact form below, or call us directly on 1300 661 859 during business hours Mon – Fri.